CRAIN’S published a great article on apartment building sales in Chicago during 2011. It may be a record year for transactions, which is not surprising. Many owners who have lost their homes in short sales or foreclosures have re-entered the rental market again. In this challenging housing market, rentals have become a popular alternative for many even though rents continue to climb.
During 2011 the rental rates are expected to increase approximately 10% in Chicago, which is good news for landlords but bad news for renters. The demand for rental housing is making rental properties an attractive purchase. Investor’s have resurfaced and new construction rental buildings are also on the rise.
READ FULL STORY via 2011 CHICAGO RENTAL BUILDING SALES ON THE RISE; HOW LONG WILL THIS LAST?.