4Q 2019 Chicago Area Apartment Market Report 1

Robust Rental Demand Reduces Vacancy to 19-Year Low;
Strong Operations Keep Multifamily Investors Active

4Q 2019 Chicago Area Apartment Market Report 2

Leasing activity sustains momentum, supported by record low unemployment. Low interest rates and strong performance trends support investment activity, but investor caution remains elevated.

Key Features Include:

Absorption continues to outpace elevated supply as developers struggle to keep up with demand
National vacancy rate dropped to lowest rate since 2000
Availability especially limited in lower-cost Class B and C properties

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Randolph Taylor

Randolph Taylor, CCIM, is a Chicago multifamily investment sales broker with over 25 years of experience advising apartment owners on valuations, marketing strategy, and dispositions across the Chicago metro area.