March 2022 Market Update
The multifamily market appears poised for another solid year in 2022, although it’s unlikely to match 2021’s exceptional performance. Some $166 billion of multifamily transactions were completed in 2021, up 75% from 2020. After asking rents rose 13.5% nationally in 2021, rent growth will probably be closer to 5% in 2022. With occupancy rates near [...]
3100-3104 S Homan Ave, Chicago – Industrial Portfolio
Golden Group Real Estate is pleased to announce the portfolio sale of 2 industrial buildings in the Little Village neighborhood of Chicago: 3100-3104 S Homan Ave, Chicago. The portfolio included a 12,000 SF vacant building and a 7,000 SF building occupied by an MPE-owned manufacturing steel business. The next day after putting the properties on [...]
October 2021 Market Update
Strong demand for apartments has driven rent back up to pre-pandemic levels in Chicagoland. In the second quarter, tenants rented 10,000 additional units, the most in ten 10 years. The rental activity was concentrated in the suburbs, as households continued to seek larger, lower-cost apartments. The average rent in Chicagoland is $1,550/month, and the average [...]
September 2021 Market Update
There is no end in sight for the post-COVID industrial real estate boom. Chicagoland industrial vacancy fell to 6.2% in Q2, as tenants leased more than 15 million SF - the most ever in a single quarter. Net absorption and new construction have also surpassed all previous market records. Nationally, the average asking price for [...]
August 2021 Market Update
Chicago's industrial market is hot, primarily due to the exponential growth of e-commerce. Over 28 million SF of space has been filled over the past year alone, a historical high. Market rents increased nearly 6% year over year. Average industrial values in Chicago rose to $80/SF, an annual increase of more than 6%. The apartment [...]
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