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Studio Dwell-Designed Rental Drops $2,700; Still Very Pricey

Rental prices are up in Chicago this year. That's a fact. But how much are renters willing to fork over for a fashionable, newer-construction single-family home in today's rental market? This 5BD, 4.5BA, 5,000-square-foot home, designed by Studio Dwell and built in 2008, tested the market for $12,500 per month earlier this year. That, apparently, was too high, so the owners recently adjusted the price, relisting it for $9,800/mo. That's still pretty steep, but not as pricey as some of the million-dollar houses and condos that have hit the rental market in recent months. And $10,000 rents certainly aren't unheard of in Bucktown. For comparison, the 3,700-square-foot green house in Bucktown is renting for $8,000/mo; and earlier this year, Bob and Karen Ranquist had listed their 8,600-square-foot warehouse-mansion for $12,900/mo.
· Rental listing: 1843 N. Paulina St. [Prudential Rubloff]