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Good times roll on for suburban apartment landlords

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
Chicago-Oak Brook
O (630) 570-2246
M (630) 344-9355
Randolph Taylor
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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 surged, but not enough to weigh on the market.

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Big deals heat up west suburban apartment market

Randolph Taylor

Multifamily Investment Sales Broker at Marcus & Millichap
Chicago-Oak Brook
O (630) 570-2246
M (630) 344-9355
Randolph Taylor
SHARE
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A gang of real estate investors has descended on the western suburbs, dropping more than $350 million in a flurry of apartment deals near Interstate 88.

Four firms including Goldman Sachs and CBRE Global Investors have acquired big multifamily properties in Wheaton, Naperville, Warrenville and Aurora, according to DuPage County property records. In another nearby deal, a San Francisco investment firm is buying the 640-unit Addison of Naperville but has yet to close on the acquisition, according to people familiar with the transaction.

Continue reading “Big deals heat up west suburban apartment market”