Rents paid in 1963

Rents paid in 1963
1963

Marina City living room (mid-1960s). Photo by Earl Meech.

Renovated kitchen of one-bedroom unit in 2008. Photo by Steven Dahlman.

(Left) Living room of former Marina City resident Earl Meech, photographed by Meech in mid-1960s. (Above) Renovated kitchen of one-bedroom unit in 2008.

When adjusted for inflation, rental amounts at Marina City have not changed significantly since 1963. The amount in the 2016 column is the amount in the 1963 column divided by the Consumer Price Index for that year. The CPI represents changes in prices of all goods and services purchased for consumption by urban households.

Configuration (monthly rental)	1963	2016 dollars
Efficiency	$125	$972
One-bedroom	$165	$1,284
Two-bedroom	$210	$1,634
Parking	$30	$233 *
Boat storage	$140	$1,089 **

^* The parking rate in 2011 was about $239. In 1964, the hourly parking rate was 75 cents.

^** In 1963, boat storage cost $180 per month in the summer and $100 per month in the winter. Assuming “summer” is defined as the official six-month boating season starting on May 1, this is an average of $140 per month. In 2007, marina leases were for a 12-month period starting on April 1. A bubbler system allows boats to remain in the water year round. It costs an average of $1,044 per month for storage of a 50-foot boat.

Debbie Galbo says she remembers Marina City being marketed as an upscale, perhaps even luxury apartment complex.

“My brother and I both remember the opening fanfare for Marina City and taking the tour with our folks,” she said in 2016.

She says her parents’ monthly mortgage payment was $118 for a typical three-bedroom, two-level home on the north side of Chicago.

Last updated 12-May-16

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