Unlike New York City where broker fees of 12-15% are common, Chicago has a much more tenant-friendly market. Most apartments in Chicago are no-fee, and when fees do apply, they're typically much lower. Here's what you need to know.
How Chicago's Market Works
Chicago's rental market is fundamentally different from NYC:
- Most listings are direct — Large property managers, building owners, and smaller landlords often list directly without brokers
- When brokers are used, landlords often pay — It's common for the landlord (not tenant) to pay the broker fee
- Lower competition — More inventory means less pressure to pay extra fees
- Leasing agents vs. brokers — Many buildings have in-house leasing agents whose services are free to renters
When You Might Pay a Broker Fee
You're most likely to encounter a broker fee in these situations:
Luxury Buildings
High-end properties in River North, West Loop, or Gold Coast sometimes use brokers
Using a Tenant Broker
If you hire a broker to search for you, you may pay their fee
Hot Markets
Peak season (summer) in popular neighborhoods may have more fee-based listings
Typical Fee Amounts
When fees do apply in Chicago:
Chicago Broker Fee Range
Compare this to NYC where fees can be 12-15% of annual rent ($3,000-$5,000+)
How to Find No-Fee Apartments
The good news: most of Chicago's rental market is no-fee by default.
Best Sources for No-Fee Rentals
- Large property management companies
Planned Property, RMK, Peak Properties, etc.
- Building websites directly
Many buildings have their own leasing offices
- Apartments.com & Zillow
Filter for "No Fee" listings
- Domu
Chicago-specific site with mostly no-fee listings
- Walk the neighborhood
Look for "For Rent" signs—contact landlords directly
Total Move-In Costs (Chicago)
Here's what to budget for moving into a Chicago apartment:
Example: $2,000/month Apartment
Tips for Saving Money
- Search during off-season — November through February has more deals and landlord-paid broker fees
- Ask about move-in specials — Many buildings offer free months or reduced deposits
- Negotiate — If you're a strong applicant (good credit, stable income), ask for the fee to be waived or split
- Go direct — Contact building management companies directly rather than through third-party brokers
- Be flexible — Willing to move mid-month? You might get a better deal
Chicago vs. NYC Broker Fees
| Factor | Chicago | NYC |
|---|---|---|
| No-fee listings | 60-70% | 30-40% |
| Typical fee | 0-1 month | 1-1.25 months (12-15%) |
| Who usually pays | Landlord | Tenant |
| Negotiation | Easier | Harder |
Questions to Ask
Before viewing any apartment, ask:
- "Is there a broker fee for this apartment?"
- "Who pays the fee—tenant or landlord?"
- "Is the fee negotiable?"
- "Are there any move-in specials available?"