Maybe a little high but Chicago does have higher rental ROIs than say, the bay area. Speculatively, I would attribute this to good incomes but not as much accumulated wealth. And much much more space preventing home prices from going too crazy.Does a 500k condo in Chicago really rent for 3500 a month?
Seems high to me, but I guess it isn't something I have looked at too closely. Maybe these are high amenity high-rise buildings...but that adds sizable HOA fees (easily 700-800 a month)