Chicago's Suburban Multifamily Market: Investor Insights

Chicago's Suburban Rental Market: A Hidden Gem for Investors

The State of Suburban Rentals in the Windy City

Amid a nationwide trend of cooling rents, Chicago's suburban multifamily market stands as a testament to stability and growth. While the national median rent has seen a slight decrease, Chicago's suburbs offer a unique allure to both renters and investors.

Market Insights from Industry Experts

Danielle Hale, chief economist at Realtor.com, acknowledges a multifamily building boom in select regions, which has kept rents in check. However, the robust demand in Chicago's suburbs defies this trend because more people are choosing suburban living because of its convenience and affordability.

Chicago's Suburban Appeal

Contrary to the national narrative, rents in Chicago's suburbs have maintained their upward trajectory, appealing to a diverse demographic of renters and positioning investors for success in a market characterized by its resilience.

The Investment Advantage in Chicago's Suburbs

The unique market conditions of the Chicago suburbs, including lower unemployment rates and a consistent demand for rental properties, provide fertile ground for multifamily property investments, outshining the volatile urban rental landscapes.

Contact Us:

"Discover the advantages of investing in Chicago's thriving suburban multifamily market. With steady demand and favorable economic conditions, now is the time to diversify your real estate portfolio. Contact us to learn how you can capitalize on these suburban investment opportunities."

Source: Here’s where the price of rent is dropping in the US

https://www.creconsult.net/market-trends/chicago-suburban-multifamily-investor/

Maximize CRE Insights with Moody's Analytics

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Maximize CRE Insights with Moody's Analytics

Discover Moody's Analytics CRE's economic data benefits on Feb 29. Essential for Chicago's multifamily investors.

Thursday, February 29th, 2024 | 2:00 PM EST | 11:00 AM PST

REGISTER

 

eXp Commercial is excited to showcase the invaluable asset Moody's Analytics CRE brings to our technology suite, offering unparalleled economic data and insights. This is particularly beneficial for our multifamily division focusing on the vibrant Chicago market. Our affiliation with Moody's Analytics CRE underscores our commitment to providing clients with a decisive competitive edge.

Special Webinar Invitation:

We warmly invite you to attend a unique webinar on Thursday, February 29th, at 11 a.m. PT / 2 p.m. ET, hosted by the esteemed economists at Moody's Analytics CRE. This session promises to unravel the complex fabric of the 2023 CRE trends, offering a clear perspective on their implications for the future, with a special emphasis on the multifamily sector in Chicago.

Webinar Highlights:

• In-depth Analysis of 2023 CRE Trends: Delve into the most recent data and its implications for the market.
• Forward-looking Market Predictions: Gain expert insights into the potential direction of the market.
• Impact of Federal Monetary Policy: Understand the potential effects of anticipated policy shifts on investment strategies.

The Importance of Attendance:

This webinar is an essential resource for stakeholders in the Chicago multifamily market. Moody's Analytics CRE's economic data is a powerful tool that can refine and enhance your investment strategy, aligning it with the latest market developments and forecasts.

eXp Commercial's Role:

The economic data provided by Moody's Analytics CRE is integral to our tech stack, equipping our clients with the insights needed to navigate the market successfully. This event epitomizes the strategic advantage our clients gain through access to high-quality economic and market information.

Call to Action:

Don't miss this opportunity to elevate your understanding of the multifamily CRE market in Chicago. Register for the webinar today to benefit from Moody's Analytics CRE's economic data. Let eXp Commercial assist you in leveraging these insights for the success of your investment portfolio.

Please note: Registration will close 24 hours prior to the start of the live event.

REGISTER

 

Thursday, February 29th, 2024 | 2:00 PM EST | 11:00 AM PST

 

[row_inner h_align="center"] [col_inner span__sm="12" align="center"] [/col_inner] [/row_inner] [/col] [/row] https://www.creconsult.net/events/moody-analytics-cre-insights-webinar/

Multifamily Property Sales in Naperville and Aurora | eXp Commercial

Maximizing Your Success in Multifamily Property Sales in Naperville and Aurora

Introduction

Achieve unparalleled success in multifamily property sales in Naperville and Aurora with the strategic expertise of Randolph Taylor and the eXp Commercial team. Our dedicated approach ensures your property stands out in the competitive market. Discover innovative sales strategies on eXp Commercial's website and see how we can elevate your property's profile.

Why eXp Commercial is Your Ideal Partner

Tailored Expertise for the Naperville and Aurora Markets Randolph Taylor brings unparalleled insights into the multifamily property landscape of Naperville and Aurora. Leveraging his extensive experience, we position your property for maximum exposure and optimal sales outcomes. Dive deeper into our market analysis techniques here.

Comprehensive Marketing Strategies At eXp Commercial, we don't just list your property; we launch it. Our comprehensive marketing strategies ensure your listing reaches a wide, qualified audience. From digital marketing to traditional advertising, we cover all bases. Learn about our unique approach here.

The eXp Commercial Advantage

Our commitment to your success is unmatched. Partnering with us means gaining access to cutting-edge tools, detailed market insights, and a team that's dedicated to achieving the best possible outcome for your multifamily property sale in Naperville and Aurora.

Conclusion

Don't leave your multifamily property sale in Naperville and Aurora to chance. Let Randolph Taylor and the eXp Commercial team guide you to success. Our expertise, tailored strategies, and unwavering dedication are the keys to unlocking your property's potential.

[row v_align="middle" h_align="center"] [col span__sm="12" align="center"] [button text="Schedule Call" color="secondary" size="large" radius="99" link="https://meetings.salesmate.io/meetings/#/expcommercial/scheduler/call" target="_blank"] [/col] [/row] https://www.creconsult.net/market-trends/multifamily-property-sales-in-naperville-and-aurora-exp-commercial/

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CHICAGO MULTIFAMILY BROKERAGE
No Matter Where You Are In The Investment Cycle
We Can Help You!
A Commercial Real Estate Brokerage firm specializing in listing and selling
multifamily properties in the Chicago metropolitan area.
Randolph Taylor
Multifamily Investment Sales Broker - Chicago
eXp Commercial | National Multifamily Division
(630) 474-6441 | rtaylor@creconsult.net
https://www.creconsult.net/

2024 Real Estate & 1031 Exchange Insights

Read the full press release for our February 21 online event centered around 1031 exchange strategies for 2024.

A lot of excitement is building for JTC’s February 21 webinar, “1031 in 2024: Strategies for Real Estate Investing.” Featuring a panel of expert speakers from the worlds of 1031 and real estate, including JTC’s Justin Amos and Shanaé Mabrie along with Simon Brower of Upstream 1031 and James Huang of eXp Commercial, this unique online event will focus on the challenges of the real estate market in 2024.

It’s been a difficult few years in the world of commercial real estate, with high prices, a lack of inventory, inflation, and recessionary fears all adding to the confusion. Property owners may be unsure if a 1031 exchange is feasible in this environment and what strategies could give them a leg up, which is why the webinar is attracting a lot of interest.

In the full press release, you can read about the webinar details, including discussion topics, how to sign up, and what’s being said about this exciting event. Those looking for answers on what the market is going to look like in 2024 and how to perform a successful exchange in a competitive environment won’t want to miss this opportunity.

To read the press release

click here

https://www.creconsult.net/events/2024-real-estate-1031-webinar/

Chicago's Office-to-Apartment Boom: Insights & Trends

It’s a growing trend as the office market continues to struggle across the country: developers are turning outdated office space into apartment units. But how strong is this trend in Chicago? Very, according to new research from RentCafe.

In its latest adaptive reuse report released at the end of January, RentCafe said that Chicago ranks fourth in the country in the number of office-to-apartment conversions now underway. The Chicago market trails only Washington, D.C., New York City and Dallas in the number of conversions.

According to RentCafe, Chicago is set to bring 2,822 new apartment units to the market by converting old office spaces into multifamily. Office-to-apartment projects account for 55% of all conversions underway in the Chicago market. Conversions from office to retail stores make up 10.3% of Chicago-area conversion projects, while community centers account for 9.36%.

Many of the office-to-apartment conversion projects in Chicago are significant ones, too. A conversion from office to multifamily at 135 S. LaSalle St. will bring 430 new apartment units to the city. That ranks as the largest office-to-apartment conversion underway.

Other major office-to-apartment conversions include Bell Works Chicagoland, which will bring 375 new multifamily units to the Chicago market, and 30 N. LaSalle St., which will add 349 units.

This isn’t surprising to anyone who’s been following the multifamily and office sectors.

Demand for multifamily housing is on the rise and has been for years. There simply aren’t enough apartment units available to meet the number of renters searching for multifamily space.

At the same time, the demand for office space among companies has dipped thanks largely to the large number of employees who are still working at least part of the time from home. Add to that the demand that many companies now have for higher-quality office space, and the country is left with many older office buildings that are no longer in demand in today’s market.

Converting these spaces into apartment units makes sense. The challenge, of course, is that conversions can be expensive, sometimes too expensive for them to make financial sense. And many office buildings don’t work for conversions because of their location and structural issues.

Chicago isn’t alone in seeing a rise in office-to-apartment conversions. In Washington, D.C., conversions now underway are expected to 5,820 new apartment units, while that number stands at 5,215 in New York City and 3,163 in Dallas.

In Cleveland, conversions underway are expected to bring 2,012 new apartment units, while in Kansas City, Missouri, they are expected to add 1,510 new multifamily residences to the market. That number stands at 1,334 in Minneapolis, 1,070 in Detroit, 1,006 in Columbus and 911 in Milwaukee.

RentCafe reported that from 2021 to 2024, the number of apartments scheduled for conversion from old office spaces increased from 12,100 to 55,300 nationwide.

https://www.creconsult.net/market-trends/office-to-apartment-conversions-chicago/

eXp Commercial Adds Moody's Analytics CRE

eXp Commercial continues to build its stable of tools and resources to help its advisors, and the latest addition is Moody’s Analytics CRE. 

Moody’s Analytics CRE will offer integrated insights, analytics, and enriched data to eXp Commercial’s advisors through its trusted, validated data, dynamic analytics, and extensive research programs. Moody’s Analytics CRE helps institutions gain efficiencies and drive growth in CRE.

How eXp Commercial, Advisors, and Clients Can Benefit:

• Access to valuable analysis by Moody’s CRE experts who interpret and analyze data, providing performance indicators such as loan analysis, location scoring, trends, forecasts, and economic narratives to improve decision-making. 
• Utilization of Moody’s Analytics CRE, accessing in-depth data and analytics from markets across the U.S. This enables advisors to delve into real-time local supply and demand, staying ahead of trends with customizable forecasting tools.
• Leveraging Moody’s Commercial Location Score, which is a proprietary model to determine the value of any given commercial location in the U.S. It is designed as a means to consistently evaluate a location’s suitability and desirability for a particular use case.
• Use of Moody’s Analytics CRE property-centric platform with 8+ million commercial real estate properties and historical sales comps in the U.S., all researched and verified by humans with detailed property characteristics and granular space-level data. 

Source: eXp Commercial Adds Moody’s Analytics CRE

https://www.creconsult.net/market-trends/exp-commercial-adds-moodys-analytics-cre/