{"id":1004169053,"date":"2017-03-20T02:54:25","date_gmt":"2017-03-20T10:54:25","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004169053"},"modified":"2025-02-26T23:27:07","modified_gmt":"2025-02-27T07:27:07","slug":"yardi-matrix-chicagos-catching-up","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-chicagos-catching-up\/","title":{"rendered":"Yardi Matrix: Chicago’s Catching Up"},"content":{"rendered":"

By Alexandra Pacurar<\/p>\n

\"Chicago<\/a>

Chicago rent evolution, click to enlarge<\/p><\/div>\n

Despite a flat population growth, job gains that have consistently trailed national trends and pockets of crime that garnered the attention of the media, Chicago\u2019s multifamily market continues to produce steady rent gains and remains a top Midwestern destination for investors.<\/p>\n

The metro added 50,000 jobs in the past year, more than half in high-earning sectors. Further growth is expected across the metro, as Amazon, Cars.com and Google are expanding their presence in Chicago. The economic environment is also encouraging new businesses, according to Built In Chicago\u2019s annual report, which shows that startups raised $1.7 billion in funding in 2016. Chicago has been deemed a smart city, and the local government is committed to improving the metro\u2019s transport infrastructure, particularly the rail system, through the $2.1 billion Red and Purple Modernization Program. The downtown continues to benefit from company relocations and expansions, while authorities are trying to spike development in suburban areas through local reforms.<\/p>\n

The metro\u2019s multifamily market is stable, with high occupancies and a strong investor interest, which pushed the sales volume to a cyclical peak in excess of $3 billion in 2016. Completions are picking up, with more than 60,000 units in various stages of development. Yardi Matrix forecasts a 4.0 percent rent growth in 2017, as demand will remain strong, while a wave of new supply is about to come online.<\/p>\n

Read the full Yardi Matrix report<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The city’s multifamily market continues to produce steady rent gains and remains a top Midwestern destination for investors.<\/p>\n","protected":false},"author":1318,"featured_media":1004169081,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37769,1491,21808,13,21742,37795],"tags":[],"class_list":["post-1004169053","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-rc-absorption","category-chicago","category-featured","category-midwest","category-latest","category-rc-occupancy"],"acf":[],"yoast_head":"\nYardi Matrix: Chicago's Catching Up - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-chicagos-catching-up\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Yardi Matrix: Chicago's Catching Up\" \/>\n<meta property=\"og:description\" content=\"The city's multifamily market continues to produce steady rent gains and remains a top Midwestern destination for investors.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-chicagos-catching-up\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2017-03-20T10:54:25+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-02-27T07:27:07+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2017\/03\/chicago1.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"800\" \/>\n\t<meta property=\"og:image:height\" content=\"620\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"alexandraefimov\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-chicagos-catching-up\/\",\"url\":\"https:\/\/www.commercialsearch.com\/news\/yardi-matrix-chicagos-catching-up\/\",\"name\":\"Yardi Matrix: Chicago's Catching Up - 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