Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Experts Eye 2020 Trends in Chicago Multifamily
Yardi Matrix forecasts healthy absorption and solid rent growth in Chicago through 2020, and Midwest real estate experts assembled by media relations firm Taylor Johnson are inclined to agree. “Chicago continues to enjoy robust job growth, especially in the tech sector where jobs are concentrated in the city’s urban core,” said Ben Creamer, principal and managing broker of Downtown Apartment Company.
“This perpetuates the increased demand for Class A rentals in the city, as does the large percentage of millennials and empty-nesters who prefer renting to owning,” he added.
Susan Tjarksen, managing director of Cushman & Wakefield’s Strategic Capital Markets Group, said multifamily will continue to be a strong segment for investors in 2020. However, niche plays like co-living, short-term rentals and affordable housing will be the hottest deals.
Other trends include privately-funded public amenities, an evolution of the deconversion trend and future-proofing apartment amenities.
Pictured: Related Midwest’s Lathrop Great Lawn and Riverwalk is an example of privately funded public amenities.
Subscribe to Connect Daily Chicago
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
