Just Sold: 23-Unit Multifamily Property in Morrison, IL Randolph Taylor, CCIM Senior Associate and Multifamily Investment Sales Broker with the eXp Commercial Chicago office, brokered the deal and represented both the buyer and seller. Randolph can be contacted at [email protected] or (630) 474-6441
While few economists expect a housing crash in the near future, many do think the market will cool off because current mortgage rates are making buying a home even less affordable.
Floating rate CRE loans are a challenge when interest rates are rising, which makes sense. Unless an investor, developer, owner, or operator has planned ahead, the increasing rate tide means there is a good chance that whatever floating rate a plan has anticipated won’t be enough.
For the first time in more than 20 years, Chicago’s apartment rent growth is the highest among its major market peers over the course of three consecutive quarters.
With less that 5% of the rentals here available and little to no apartments built recently, 67.3% of apartment dwellers in the area decided to just stay put.
There may be slight variations on exactly how each ownership type works in different estates, but below is a general overview of the different ways to hold property