Multifamily construction will most likely hit a cyclical peak in the Chicago region during 2019, and investors still flock to local properties due to cap rates typically 200 basis points higher than coastal markets. But after years of activity in the core, builders and investors increasingly look to Lakefront neighborhoods. Of these, Edgewater and Uptown now stand out, with escalating development and investment activity.
“These neighborhoods have been transformed in the past five years,” Interra Realty Managing Partner Craig Martin said.
Read article: Bisnow