ConnectCRE: Opportunity Knocks on Chicago’s South Side for Multifamily Investors
CHICAGO, IL – ConnectCRE recently featured an article from Interra Realty’s Managing Partner Ted Stratman about the opportunity for multifamily investors on Chicago’s South Side:
More than a decade ago, we started Interra Realty by brokering multifamily sales on Chicago’s South Side. While our business has grown to encompass nearly every corner of the metro, the South Side remains a foundation of our business – in fact, we remain the leading brokerage for apartment buildings on the South Side, according to CoStar data.
So far, 2022 is shaping up to be one of our strongest years ever for multifamily transactions, with most listings attracting 15 or more property tours, multiple competitive offers and quick closings at or near list price, sometimes for all cash.
Transaction volume has been especially high in the past three to six months as investors look to build portfolios – typically 200 to 300 units in size – to create economies of scale and capitalize on rent growth, which we expect to continue despite rising interest rates and other headwinds such as uncertainty over property taxes.
Read the full article at ConnectCRE: Opportunity Knocks for Chicago’s South Side for Multifamily Investors