APARTMENT NEWS

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Apartment Occupancies, Rents Rising in Chicago - 08/24/09
CRE News

Apartment rents in downtown Chicago rose 2.4 percent from the previous quarter, according to a report by Appraisal Research Counselors. The Chicago real estate consulting firm said that while the rate is now down 4.8 percent from the same time last year, so the increase is a positive sign for the apartment sector. Meanwhile, class-A occupancy for the sector rose in the second quarter to 93.4 percent from 90.9 percent in the first quarter and 91.6 percent in the second quarter of 2008. Appraisal Research found that 2,098 apartment units have been delivered to the downtown market since early 2008.
 

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