New Milwaukee Avenue Rentals Ask Nearly $5,000 Per Month

No, you didn't read that wrong — this nearly completed Wicker Park/Bucktown rental on Milwaukee Avenue is asking $4,750 per month. The unit is one of eight pricey rentals coming to the long vacant building at 1739 N. Milwaukee Avenue. Loft condos were once planned for the building, but the focus has since shifted to rentals after the real estate market began to thaw after the recession's deep freeze. According to a rental listing for one of the apartments, the building will be ready for tenants by mid-October. Developers have been flooding the downtown market with luxury rentals, but over the last year, builders have been eyeing the neighborhoods along Milwaukee Avenue and the Blue Line. Pricey apartments for Logan Square have recently become the focus of protests from affordable housing advocates, but the rents that these apartments are seeking are easily some of the highest in the area. So, what do you think? Is there a market for rentals like this?

·1739 N Milwaukee Ave #3, Chicago, IL 60647 [Domu]
·Mapping the Development Boom Along Milwaukee Avenue [Curbed Chicago]
·Rent Check archives [Curbed Chicago]