Multifamily housing demand remains strong. Given rising mortgage rates and home prices, people may be forced to rent for longer due to decreasing affordability.
Tag Archives: Apartments
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Off-Market Multifamily Sellers Are Leaving A Ton Of Money On The Table
Marketing a property can increase the sale price by up to 23%, which runs counter [...]
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The Dangers of Selling Commercial Property Too Late
There are a number of reasons why people sell commercial property too late including Complacency, [...]
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Selling an Apartment Building FAQ’s
Are you thinking of selling your multi-family property? Here are some of the most frequently [...]
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If You’re Hesitant To Hire A Broker For Your Multifamily Property Read This
The most important benefit of exclusively listing your property with a broker is representation.
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Should I Sell or Should I Hold? When is the best time for asset repositioning?
It doesn’t really matter what the current real estate market is like if you are [...]
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Multifamily sellers: How to qualify a buyer before going under contract
As the seller of a multifamily asset, it’s crucial that the buyer you select is [...]
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Why Should I Sell My Multifamily Property?
There are a number of reasons why people decide to sell their multifamily property, but [...]
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Just Closed! | 8-Unit Multifamily Property | 1751 Felten Rd. Aurora, IL 60505 Contact Randolph Taylor for your Multifamily Investment Acquisition & Disposition Needs
Congress is set to pass a coronavirus relief bill that includes funding for rental assistance and the continuation of the nationwide eviction moratorium.
National apartment conditions could be showing signs of improvement, according to apartment owners then responded to the National Multifamily Housing Council’s Quarterly Survey of Apartment Market Conditions.
With sophisticated daily pricing tools, apartments today are better positioned to respond to inflationary pressures than they were forty to fifty years ago.
Renters are paying their monthly rent at near-normal levels and millions of renters haven’t been displaced as feared.
Marcus & Millichap is proud to present to market Victorian Apartments, a 152-unit apartment community located in west suburban Montgomery, Illinois
Although occupancy has fallen in both urban and suburban areas since the pandemic started, the impact has been more pronounced in the urban areas.
This is a 2.4-percentage point, or 279,457-household decrease from the share who paid rent through September 13, 2019, and compares to 86.9 percent that had paid by August 13, 2020.
The cap rates for small multifamily properties barely budged between the first and second quarters of 2020, according to a new report by Chandan Economics and Arbor Realty Trust.
The National Multifamily Housing Council reported that 79.3 percent of surveyed households made a full or partial rent payment by August 6. That’s slightly better than last month’s 77.4 percent, and just shy of the August 2019 level of 81.2, according to NMHC’s Rent Payment Tracker .
While COVID-19 has slammed many parts of the economy, suburban apartments are performing well for one company.
If you live in a property covered by the CARES Act, landlords can now legally ask you to leave and start charging late fees, but the soonest they can legally file an eviction to force you to leave is Aug. 24.
An online real estate database company just released new figures showing that renters’ preferred location is tiling toward the suburbs.
In the apartment world, now might be the time of the little investor. Regional Players Win Deals While Using Localized Knowledge to Their Advantage
INVESTORS AVOID FIXER-UPPER APARTMENTS. COSTAR ANALYSIS SHOWS BUYERS FLEEING TO SAFER MIDDLE-TIER PROPERTIES. Apartment investors are getting nervous about buying fixer-uppers
With some unemployment benefits from the CARES Act set to expire at the end of next month, industry groups are pushing for more federal aid.
The continuing long-term decline in turnover has accelerated recently due fewer tenants moving because of the COVID-19 economic downturn
The National Multifamily Housing Council (NMHC)’s Rent Payment Tracker found 80.8 percent of apartment households made a full or partial rent payment by June 6 in its survey of 11.5 million units of professionally managed apartment units across the country.
More renters are canceling move-out plans and requesting short-term lease extensions, and property managers are offering unprecedented flexibility to accommodate them.
All told, 90% of renters made full or partial payments from April 1-12, 2019, compared with 91% of renters in March 1-12, 2020, according to the NMHC. That is a payment rate of 93% compared to the same time last month.
Most Up-to-Date Economic Assessment, Government Initiatives and Potential Impact, State of the Real Estate Financing and Transaction Markets, Challenges and Opportunities by Property Type
The number of Chicago-area renters earning $75,000 or more rose 38.8% between 2010 and 2018, says a national report from the Harvard Joint Center for Housing Studies.
Leasing activity sustains momentum, supported by record low unemployment. Low interest rates and strong performance trends support investment activity, but investor caution remains elevated.
Just Sold 18 Unit Multifamily Property South Suburban Chicago IL – 18 Unit Multifamily Property Sold – 12 Two-Bedrooms/6 One Bedrooms, Exclusively Listed and Sold by Randolph Taylor with Marcus & Millichap, Located in South Suburban Chicago Blue Island, IL
Randolph is a Multifamily Investment Sales Broker with eXp Commercial servicing Multifamily Buyers and Sellers in the Greater Chicago Area.
Latest posts by Randolph Taylor (see all)
- Mastering the Art of Expensing & Accelerating Depreciation Course - November 27, 2023
- Maximizing Your Multifamily Property’s Sale Potential: A Comprehensive Preparation Guide - November 21, 2023
- eXp World Holdings Named to 2023 Deloitte Technology Fast 500™ - November 20, 2023
Marcus & Millichap is proud to present for sale a fully-occupied high yielding 22-unit multifamily portfolio in the western Illinois city of Macomb, home of Western Illinois
University. Offering generous rates of return, this portfolio is composed of six separate properties in close proximity to one another consisting of nine two-bedrooms, eight
one-bedrooms, and five studios.
The sale highlights the strength of the suburban Chicago apartment market, which has lifted rents and property values over the past several years.
Tight labor market curbs job creation. The U.S. economy added 20,000 jobs in February, the lowest monthly total since September 2017. While the partial government shutdown and winter storms contributed to last month’s meager showing, the pace of hiring should recover in March.
Rent Control reduces the supply of rental units, increases prices for properties not covered and prevents those most in need from benefiting.
A construction wave was supposed to test the downtown market this year, with competition from 4,400 new apartments—an annual record—hampering landlords’ ability to keep hiking rents and possibly even pushing rents down. Overbuilding often ends real estate booms, and the risk of that happening in Chicago seemed to be growing at the end of last year.
Marcus and Millichap closes more real estate investment sales than any other brokerage firm—over 60% of which involve a 1031 Exchange. Our leading market position, coupled with extensive investor relationships, gives us access to the largest pool of qualified buyers, including exchange buyers.
Rising interest rates, a possible slowdown in new construction likely to keep apartment occupancies stable and rents growing.
Investors should be keen on apartment assets due to strong fundamentals, opportunities for both buyers and sellers, and an abundance of capital
84 Unit Multifamily Property For Sale.
Condo Quality Construction.
All 2-Bed / 1-Bath Units with Dining Room.
90 Percent Updated Units.
Tenant Paid Electric Baseboard Heating & HW.
Very Well-Maintained / Long-Term Ownership.
Buying a home is getting more and more expensive, thanks to sharp increases in both prices and mortgage rates. That is juicing demand for apartment rentals and, in turn, pushing rents higher.
Apartment rents across the nation have soared over the past several years amid the expanding job market, the primary driver of demand for apartments, and a continued preference for renting over owning among some people.
The apartment sector notched another healthy quarterly performance as the resounding strength of the employment market sustains demand for rentals. Class B and C units maintained particularly tight vacancy levels, delivering solid rent growth. Markets with elevated construction levels could face pockets of heightened competition as new apartment facilities go through lease-up.
A large percentage of these newly formed households will have a high propensity to rent and be drawn to Class B and C apartments. The expanding demand for Class B and Class C properties will keep their vacancy rates tight and uphold rent growth that has outpaced Class A properties, which are contending with elevated supply additions.
Underlying demand for apartments remains strong as a robust labor market and positive demographic trends support healthy unit absorption, despite mounting supply pressure. Moving forward, modest performance gains are expected on the national level as the market continues to digest the aggressive development pipeline.
Agency lenders are making more permanent loans than ever on apartment properties.
Randolph is a Multifamily Investment Sales Broker with eXp Commercial servicing Multifamily Buyers and Sellers in the Greater Chicago Area.
Latest posts by Randolph Taylor (see all)
- Mastering the Art of Expensing & Accelerating Depreciation Course - November 27, 2023
- Maximizing Your Multifamily Property’s Sale Potential: A Comprehensive Preparation Guide - November 21, 2023
- eXp World Holdings Named to 2023 Deloitte Technology Fast 500™ - November 20, 2023
Research Brief August 2017 HOUSING Developing Trends ■ Apartment construction appears likely to peak this year as more than 370,000 units are slated for delivery, up from 290,000 apartments in 2016. The majority of new supply is concentrated in luxury, Class A […]
Apartment investments will maintain a positive outlook in 2018 as the combination of steady job creation, healthy demographics and an accelerating pace of household formation sustains renter demand. The consistent ow of newly developed units, a top of mind consideration for many investors, increased competition for Class A apartment assets in cities with disproportionate deliveries. The effects of the additions tend to be concentrated, and the deliveries will wane in the coming year, supporting sound performance metrics in
most markets. Class B and C workforce housing will continue to outperform as vacancies in these properties remain at historical lows, enabling owners to justify strong rent growth.
A combination of job growth, healthy demographics and accelerated household formation creates a rosy outlook for apartment investments in the coming year. For Chicago, location and property type should be taken into consideration. This is according to Marcus & Millichap’s 2018 Multifamily North American Investment Forecast.
A New York real estate investor paid $94 million for an apartment complex in north suburban Vernon Hills, another addition to the long list of suburban Chicago multifamily properties that have changed hands this year.
Randolph is a Multifamily Investment Sales Broker with eXp Commercial servicing Multifamily Buyers and Sellers in the Greater Chicago Area.
Latest posts by Randolph Taylor (see all)
- Mastering the Art of Expensing & Accelerating Depreciation Course - November 27, 2023
- Maximizing Your Multifamily Property’s Sale Potential: A Comprehensive Preparation Guide - November 21, 2023
- eXp World Holdings Named to 2023 Deloitte Technology Fast 500™ - November 20, 2023
If you own an apartment building in downtown Chicago, the grass looks a lot greener out in the suburbs right now. With developers adding thousands of apartments to the city skyline, the supply of downtown units is exceeding demand, dragging down rents. But that’s not the case in the suburbs, where development also has […]
Renter demand for apartments continued to accelerate in the third quarter of 2017 as the market absorbed more than 70,000 units and the overall national vacancy rate for U.S. apartments continued to trend lower after turning sharply up at the end of last year.
The burst of investment activity suggests that the suburban Chicago apartment market is still going strong after a record year for multifamily sales in 2016. Suburban rents are rising at a slow, steady pace, and developers haven’t gotten carried away with new projects, giving investors the confidence that they will continue to generate attractive returns by buying apartments here.