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In many neighborhoods, the monthly cost to own is now close to what you’d pay in rent. With rent averaging around $2,800 in downtown, a comparable condo purchase (with today’s rates around 6.25%) may cost about $3,000–$3,200 a month but part of that goes toward building equity. Plus, homeowners can deduct mortgage interest and property taxes. If you plan to stay in Chicago for 3–5 years or more, buying typically beats renting financially, especially in high-demand areas like Lincoln Park and Lake View.

Yes, Chicago condos can be stable urban investments, but the right choice depends on HOA fees, property taxes, and your long-term goals. Prices have leveled off since 2023, while rental demand continues to rise, especially from professionals moving downtown. Condos in Lincoln Park, Streeterville, and South Loop typically appreciate 3–5% per year and offer strong rental returns. Many clients aim for a condo that serves as both a great home and a solid investment, but ideally, focus first on a property that fits your lifestyle and view investment performance as a long-term benefit.