“People are just itching to try this lifestyle,” says Fifield. “Many have never had the opportunity to live in the city,” mainly because in the past, it was suburban living that was trendy. The Sinclair will still provide hundreds of one-bedroom units, along with some studios and two-bedrooms as well. But it will also have three floors with a total of 28 penthouses, or 7% of the community's 390 units, rather than the more typical 2% to 3%.

But renters aren't alone in wanting more space. At Renelle on the River, a new downtown condominium tower by Belgravia Group along the Chicago River, residences start at $1,584,900 and offer up to four bedrooms, 4½ baths and 3,434 square feet.

“Just because buyers are looking to trade in their suburban home for a city residence doesn't mean they want to downsize,” says Buzz Ruttenberg, founder of Belgravia Group. “These residences offer all the space of a single-family home but without the maintenance. They have the same mix of casual and formal spaces that people expect in a single-family home, yet are hard to come by in a condominium.”

CHICAGO—The demand for luxury apartments in the urban core has been very steady for a number of years, but that doesn't mean the market hasn't changed in some ways. Developers have recently noted older, more affluent prospects touring their properties, for example, and have responded by designing much larger units, many with three or even four bedrooms.

“We used to see a lot of 22- to 28-year-olds,” Randy Fifield, chairwoman of Fifield Realty Corp., tells GlobeSt.com. “They were young kids that wanted an urban lifestyle.” But many were accompanied on initial unit tours by their parents, who then saw the types of amenities, both in the buildings and surrounding neighborhoods, that were available to urban dwellers. “They were looking at this environment, and many are deciding to try it on.”

In 2017, Fifield Realty Corp. will deliver The Sinclair, a luxury rental development in Chicago's Gold Coast that will include three- and four-bedroom residences. What's striking is that many of larger units often have only one or two occupants. “They just want the extra room,” says Fifield. “And with the Sinclair's penthouses, it's not just that the bedroom count is larger, but all rooms, including the terraces, are bigger for entertaining.”

The rental market continues to drive the housing recovery, with over 36% of US households opting to rent in 2015—the largest share since the late 1960s, according to a report published earlier this year by the Joint Center for Housing Studies of Harvard University. The researchers also found that the number of renters increased by nine million over the past decade, the largest 10-year gain on record. Furthermore, rental demand has risen across all age groups, income levels, and household types, with large increases among older renters and families with children.

“People are just itching to try this lifestyle,” says Fifield. “Many have never had the opportunity to live in the city,” mainly because in the past, it was suburban living that was trendy. The Sinclair will still provide hundreds of one-bedroom units, along with some studios and two-bedrooms as well. But it will also have three floors with a total of 28 penthouses, or 7% of the community's 390 units, rather than the more typical 2% to 3%.

But renters aren't alone in wanting more space. At Renelle on the River, a new downtown condominium tower by Belgravia Group along the Chicago River, residences start at $1,584,900 and offer up to four bedrooms, 4½ baths and 3,434 square feet.

“Just because buyers are looking to trade in their suburban home for a city residence doesn't mean they want to downsize,” says Buzz Ruttenberg, founder of Belgravia Group. “These residences offer all the space of a single-family home but without the maintenance. They have the same mix of casual and formal spaces that people expect in a single-family home, yet are hard to come by in a condominium.”