Marcus & Millichap has announced the sale of a 24-unit apartment property located in Aurora, Ill. Randolph Taylor, an Associate, in Marcus & Millichap’s Chicago Oak Brook office, exclusively marketed the property on behalf of the local seller and also represented the 1031 exchange buyer.

Demand is strong across the metro, as Millennials continue to move into well-located, modern apartments, pushing rent growth to its highest rate in two years.

Tight labor market curbs job creation. The U.S. economy added 20,000 jobs in February, the lowest monthly total since September 2017. While the partial government shutdown and winter storms contributed to last month’s meager showing, the pace of hiring should recover in March.

Rent Control reduces the supply of rental units, increases prices for properties not covered and prevents those most in need from benefiting.

Despite ongoing efforts to address the nation’s workforce housing crisis, it remains a critical issue in 2019, leading to a renewed push for rent control.

Rent Control reduces the supply of rental units, increases prices for properties not covered and prevents those most in need from benefiting.