Markets & EconomyRegulations

Chicagoland multifamily sector has an upbeat 2015

Kiser Group report indicates which areas are gaining investors, tenants
  • A Kiser Group report on suburban Chicago activity suggests a successful 2015.
  • Most markets saw gains in sales and per-unit prices.
  • Investors seem to favor the 'burbs that are outside of Illinois.

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Multifamily investments in the Chicago area had an up-and-down year in 2015. A summary report from Kiser Group collected data from the counties surrounding the city of Chicago. Sales data from multifamily sales from Lake, Kane, DuPage, Will and suburban Cook counties were included. The report excluded city of Chicago sales figures. The biggest percentage of transactions from the whole pie came suburban Cook county. But compared with 2014’s number, activity was significantly off. The average price-per-unit held the same as in 2014, at $75,000. The most suburban Cook transactions occurred in the west Cook (Cicero, Berwyn) and southwest Cook (Tinley Park, Orland Park) submarkets. The highest prices were fetched in the northern suburban Cook submarkets with dense populations. The highest per-unit price was in Evanston, at $214,000. The lowest price came in southern Cook County, at $34,000 per-unit. Evanston is one of the best performing suburban Cook communities....