Suburban Chicago Land Sales Report

September 21, 2022

Suburban Chicago continues to see the addition of market-rate multifamily rentals, as developers respond to demand from renters seeking higher-end finishes and amenities often found in recently delivered developments. Municipalities continue to play a role in promoting rental apartments, with 31% of the developments within Tax Increment Financing (TIF) districts. Even despite the ongoing work-from-home trend, 45% of the developments are in Transit Oriented Development (TOD) locations, signaling the continued preference of renters to be close to transportation and walk-to entertainment venues.