“Compared to last year at this time, multifamily inventory levels and sales volume have slowed in most of the city, yet the south side of Chicago has remained stable,” said Birk. “Most of our clients are collecting rents in the high 90% range and investor interest in these neighborhoods remains strong.”
As a comparison, in the year-ago period the team brokered 358 units and 19 buildings in the same geographic area.
“Neighborhoods such as South Shore, Chatham, Woodlawn, Englewood and Auburn Gresham continue to see rapid appreciation and investment interest from across the country,” said Sklar. “Investors that are priced out of other markets are continuing to move their capital into these neighborhoods because of attractive cash-on-cash returns and appreciating property values.”