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Chicago Renting

I just renewed my current lease for the fifth time.  Yes, I know this is crazy (especially in Chicago).  I moved in October 2010 and I've been there ever since.

My landlord is great.
The rent was pretty low for the area when I moved in and he hasn't increased it once.
Did I mention my landlord is great?

He probably realizes I'm a pretty low-key tenant who pays my bills on time so he'll keep me around.  We've reached the point where I renew my lease in an email.  I don't even sign anything.  (This is very nice.)  This year in our annual renewal email he mentioned the cost of ownership has gone up substantially this year and more increases are projected for next year. And added, "This will not affect you at this time."  So, yes, I think next year he will increase my rent.  But at this point, seeing similar apartments around me for $500 more a month than me.  I think it's fair for there to be an increase.

Here I am, spending six years in a one bedroom in Lakeview.  Yes, Chicagoans, it can happen.

P.S. Interesting numbers on one bedroom apartments from Time Out.

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