Market Trends

Recession Risks Apartment Vacancy Risks Rent Growth Drops. How will this affect me? What are my alternatives if I sell my Multifamily property? Time to consider reallocating your portfolio to manage risk and increase yield? #RecessionRisks #ImpactonMultifamily #AlternativeInvestments

Marcus & Millichap is proud to present for sale a fully-occupied high yielding 22-unit multifamily portfolio in the western Illinois city of Macomb, home of Western Illinois University. Offering generous rates of return, this portfolio is composed of six separate properties in close proximity to one another consisting of nine two-bedrooms, eight one-bedrooms, and five studios.

The sale highlights the strength of the suburban Chicago apartment market, which has lifted rents and property values over the past several years.

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.