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Institutional-Minded Buyers Flock to Chicago’s Multifamily Market

Big Players Bet on High-Occupancy Properties in Hot Neighborhoods to Chase Bargains, Rent Growth Potential
Investment manager Tishman Speyer purchased the five-star,  357-unit Union West in Fulton Market for $128 million, or $358,000 per unit, during the waning days of 2023. (CoStar)
Investment manager Tishman Speyer purchased the five-star, 357-unit Union West in Fulton Market for $128 million, or $358,000 per unit, during the waning days of 2023. (CoStar)
CoStar Analytics
March 1, 2024 | 7:21 P.M.

Chicago's rent growth rate and the market's comparative lack of new competitive residential space under construction appear to be alluring to institutional investors.

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