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Chicago-Area Investment Sales Rise 7% Y-O-Y But Lag Broader Recovery
With industrial deals leading the way, investors traded nearly $7.9 billion worth of Chicago-area commercial properties during the first eight months of 2021, Crain’s Chicago Business reported, citing data from Real Capital Analytics.
That was up 7% from the same period in 2020—a stretch that included two relatively normal months to start the year—and nearly even with sales from the same time frame in 2019, RCA data show.
However, dealmaking in the Chicago area has lagged the nation overall. Sales nationwide rose by 59% year-over-year through August and are trending well ahead of 2019.
RCA’s Chicago-area figures showcase the disparity between what buyers want and what they don’t, Crain’s reported. Although industrial deals have predominated, the apartment market has also come on strong.
Yet, while strong demand for apartments is typically a signal that office demand will follow, few big multi-tenant office properties downtown have changed hands.
Pictured: The Michelin Super Regional Distribution Center in Wilmington, IL sold to Silver Creek Development this past spring.
- ◦Sale/Acquisition
