Co-Living Trend Growing In Chicago Neighborhoods

CHICAGO (CBS) -- Co-living is a growing trend in Chicago as the price of rent continues to rise. Adults are sharing living spaces to gain a sense of community and save money.

Jason Manning is living the high life as a college student for a price he can afford in Chicago's Fulton Market District.

"View's always great," said Manning.

He says his rent is just $1,200 for his room at the new Quarters Chicago, while the average rent for a one bedroom in the neighborhood runs more than $2,100.

Lissa Druss of Quarters Chicago said, "These quarters are dedicated towards millennials or young professionals that want to be in the hustle and bustle but can't afford it."

The cost-saving apartments come with a catch: the shared living space.

"This is the common area, which is shared by all residents of this apartment," explained Druss.

Everyone has their own bedroom, but everything else is communal, including two bathrooms shared between five people.

Gabriel Guzman, a video game account manager, lives in Common, another co-living space in Chicago.

"You don't have to move furniture in here," he said. "All you have to bring is your luggage and you're good to go. I've been blessed to have really good roommates that take care of the unit and respect the space."

Leasing specialist, Jodi Farbish, says the co-living space provides many household items including linen, sheets, towels, and "everything from the kitchen, dishes, pots, and pans."

The co-living space also provides a weekly cleaning service. Residents of co-living spaces do not choose their own roommates.

"We do background checks, financial checks, and we have a whole vetting process," explained Farbish.

"I see it more as an easy option for people to take advanate of in a city like this," said Guzman.

"In a very short time, quarters would like to have as many as 10,000 beds in Chicago," Druss stated.

At Common, the average age of their residents is 30 years old, but they have people living in the spaces in their 60s.

For some people, it's a social opportunity. Some other residents say they chose the co-living living option as a networking opportunity.