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Vacancy rates

ChicagoDowntown / Loop

Rent increases slowing, downtown occupancy rates falling

Aerial view of Loop, River North

A news release from the Chicagoland Apartment Association (CAA) included the following summary of a presentation by Ron DeVries, vice president of Appraisal Research Counselors, at a recent CAA event. Despite industry optimism, DeVries said the upward spiral of apartment rents in newer luxury downtown Chicago high-rises has ebbed after several years of hefty increases. ...

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Posted by Joe Zekas on October 17, 2013
News & trendsMarket conditions

Higher rents, lower vacancies forecast for Chicago

Marcus & Millichap

Marcus & Millichap just released its Apartment Research Market Report for the second quarter of 2013. Free registration is required to access the full report. Here’s the summary: Apartment vacancy will fall in the Chicago metro in 2013 as another year of solid job growth sparks demand for rental hous┬Čing. While current economic conditions do ...

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Posted by Joe Zekas on July 17, 2013

Lincoln Park has lowest apartment vacancy rate, highest rent increases

Marcus & Millichap research

Marcus & Millichap just released its Q4 Local Apartment Reports which cover major trends, including rents and sales performance measures for 42 US markets. In the city of Chicago, the Lincoln Park submarket was the strongest performer. The Lincoln Park vacancy rate fell 70 basis points year-over-year to 1.4%. A rate that low is effectively ...

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Posted by Joe Zekas on November 29, 2012