The pandemic had a demonstrable impact on new space leasing, affecting every segment of the market. The pain was not felt equally across property types, however, as low-rise designs attracted stronger resident demand than elevator-served buildings no matter the location.
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This webcast will focus on first-hand investor feedback about sales and pricing trends, the commercial real estate outlook, and how investors are adapting their underwriting and investment strategies.
Compared to pre-pandemic millennials who embraced both migration and dense urban cores, more than half of Gen Zers surveyed said they’ll stay put after graduating from college, with 44% saying they prefer a vibrant suburb over city life.
Apartment resident retention rates went on a wild ride during the course of the past year or so, but the ability to hold onto renters at lease expiration now is returning to more typical levels for the country as a whole.
Some multifamily landlords are becoming more optimistic about a steady recovery from the pandemic as rising rent and occupancy rates in their buildings reflect some of the strongest rental rate growth and rent collection rates nationally in more than a year.
Marcus & Millichap is pleased to present to market a well-maintained and fully occupied 27-unit multifamily offering in Blue Island, Illinois, a southern suburb of Chicago. The property consists of five contiguous 5 and 6-unit apartment buildings with a total of 18 one-bedroom units and 9 two-bedroom units.