A Good Vintage – “The market has unfolded as expected this year and I believe 2024 will go down as one of the best vintages for multifamily acquisitions. In particular, operations in Chicago have remained strong as robust rental demand across North Side neighborhoods, paired with extremely low new supply, has made for another strong leasing season. We’re seeing more conviction to transact among sellers with maturing loans, while buyers with healthy balance sheets are acquiring great real estate below replacement costs. As healthy as I’ve found the market to be for transacting in 2024, especially when comparing Chicago to other markets, I am surprised buyers haven’t opened the floodgates even more.” — Joe Smazal, Senior Managing Partner, Interra Realty

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