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High-End North Shore Rentals in Hot Demand

The recovery of the housing market means fewer rentals in the area, which has led to multiple bids on some single-family homes.

This Wilmette rental is listed on Zillow for $1,695 a month. Credit: Zillow
This Wilmette rental is listed on Zillow for $1,695 a month. Credit: Zillow

High-end North Shore rental properties are being snatched up at a whirlwind pace, Crain’s Chicago Business reports, with examples like a Kenilworth colonial that had two offers its first day on the market for $9,000 a month.

As the housing market recovers and people are able to sell, there are fewer rentals available, the article states. Yet the demand is still there, whether it’s from people stuck between a sale and a closing on a new house, an executive in town for a short-term job, or a family that needs a rental home because of divorce or during the transition from the city to the North Shore while they get their bearings.

You can read the full Crain’s article here.

Have you seen this phenomenon happening near you?

Lily Vincent June 02, 2014 at 09:19 AM
I guess now is the prime time to own North Shore real estate since it is going so fast. Are there empty lots waiting to be developed in the area, or do people just have to wait for a home or a rental to become available? Lily | http://www.jeanwrightrealestate.com/northshorecommunities

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