A combination of job growth, healthy demographics and accelerated household formation creates a rosy outlook for apartment investments in the coming year. For Chicago, location and property type should be taken into consideration. This is according to Marcus & Millichap’s 2018 Multifamily North American Investment Forecast.
Tag Archives: Apartments
A New York real estate investor paid $94 million for an apartment complex in north suburban Vernon Hills, another addition to the long list of suburban Chicago multifamily properties that have changed hands this year.
If you own an apartment building in downtown Chicago, the grass looks a lot greener out in the suburbs right now. With developers adding thousands of apartments to the city skyline, the supply of downtown units is exceeding demand, dragging down rents. But that’s not the case in the suburbs, where development also hasRead more
Renter demand for apartments continued to accelerate in the third quarter of 2017 as the market absorbed more than 70,000 units and the overall national vacancy rate for U.S. apartments continued to trend lower after turning sharply up at the end of last year.
The burst of investment activity suggests that the suburban Chicago apartment market is still going strong after a record year for multifamily sales in 2016. Suburban rents are rising at a slow, steady pace, and developers haven’t gotten carried away with new projects, giving investors the confidence that they will continue to generate attractive returns by buying apartments here.