A Look at the Top Multifamily Trades in Chicago in the Third Quarter

Chicago’s multifamily sales volume continued to edge lower in the third quarter, with just more than $770 million of property trading hands. This is the lowest reading in any quarter since the second quarter of 2015 and is 40% lower than the average third-quarter sales seen over the past three years. There are numerous reasons often cited as to why sales volume is slowing, which include local fiscal and tax uncertainty, record-high pricing, general late-cycle sentiment and capital-rich debt markets providing an alternative way for investors to pull equity out of their properties.