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Downtown Rents Continue To Climb

A new report from Appraisal Research Counselors finds that apartment prices are climbing in downtown Chicago even faster than previously thought. Over the past year, rents in downtown luxury buildings rose more than 12 percent, while rents in the 'Class B' buildings rose 6 percent. According to the Trib, prices are expected to spike again next year, as supply continues to shrink. It's officially a landlord's market, folks. [Chicago Tribune]