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If you don't mind me asking--what area are you in? NW suburbs encompasses a lot of area..
Chi_renter Barrington and Streamwood are two very different demographics. Why not give a couple zip codes to get the best answer?
Folks, I am renting a 4-br, 2.5bath, 3-car garage SFH for $1800 in the northwest Chicago suburbs. My landlord is proposing to raise the rent by 5% in the upcoming lease. Do you think I can try to argue against it? Are Chicago area rents going down by any significant margin? Generally, this is a nice area and asking rents on similar homes (on Craigslist) range between 1650 and 2250.This is a nice house that sold for around 240K in the 90's. I am ok with paying the higher rent because it is still very cheap compared to what I could be losing on a house if I bought now.
Please advise.