CHICAGO, IL – Globe Street recently featured Managing Director Paul Waterloo in a recent article discussing an Apartments.com report showing 3-star properties outperformed 4 and 5-star properties in the fourth quarter of 2023.

Paul Waterloo, Managing Director, Interra Realty, tells GlobeSt.com that the seven main suburban counties outside of Chicago has had a “very positive trajectory on both the rent growth and absorption fronts over the last year.

“When we last analyzed the data from Q4 of 2023, each suburban region experienced positive 12-month rent growth. Additionally, 12-month absorption across all these suburban regions was over 3,000 units.” This data, Waterloo said, has translated to persistent buyer demand in its suburban listings, which primarily consist of Class B and C multifamily properties.

“We expect this trend to continue throughout 2024, with transaction volume also increasing from that of 2023,” he said.

Read the complete article at Globe Street.