We are proud to present our annual 2017 State of the Market for Chicagoland. This year, we expanded our national analysis with new markets and analysis on rent burdenship, property taxes and the continuing shifts in renter demographic groups. In Chicagoland, we explored the growing strength of suburban submarkets and the unique investment environment within the city itself.
To gain access to the full document, please contact a member of our Sales Team.
KIG Analytics’ Market Intelligence Map represents a comprehensive database of proposed developments throughout the Chicagoland area. The development pipeline is a valuable resource that includes key facts such as the number of units, delivery date and developer. Key facts included in the pipeline assume that the approval and permitting process go as planned.
As of March 2018See Full Map
KIG Analytics has been tracking the absorption across the city of all major deliveries for the past two years. What can this data tell us about where renter preferences and demand is headed?Learn More
The Brew City presents a unique investment opportunity in the Midwest. Increasingly metropolitan yet retaining an affordable cost of living, the latest spurt of development in Milwaukee is producing quality product that rivals that of larger metros. In our State of the Market, we dive into the fundamentals of Milwaukee’s multifamily environment and look at the major changes on the horizon.
To gain access to the full document, please contact a member of our Sales Team.
Rents and Property Taxes vary wildly from city to city across the US. Utilizing Census data, we can pinpoint where these metrics are highest in some of the key real estate markets across the nation. The increase in educational attainment and income in Chicago is not solely due to out-migration in outlying neighborhoods, but also the influx of a highly educated and skilled workforce into Core and Northern neighborhoods. This inflow has fed the multifamily growth throughout these areas and is likely to increase as more corporations move into downtown Chicago.See Full Map
There has been a multitude of multifamily deliveries in Chicago’s core neighborhoods during the past few years, and this trend will continue through 2020.Learn More
KIG Analytics’ Market Intelligence Maps represent a comprehensive database of proposed developments throughout the Milwaukee area. The development pipeline is a valuable resource that includes key facts such as the number of units, delivery date and developer. Key facts included in the pipeline assume that the approval and permitting process go as planned.
As of March 2018Learn More
The development pipelines for Amazon’s Top 20 show who’s ready, who’s already booming, and who’s not preparedLearn More
Nationally, while millennials have become the largest generation, we have also seen an increase in baby boomer renters, a cohort that will reach an estimated 20 million by 2020 (JCHS 2016). In the Chicago city limits, the total number of renters increased by 6.6 percent from 2011 to 2016, a net gain of more than 50,000 individuals according to the U.S Census Bureau. However, this growth has not been uniform across all age cohorts.Learn More
As a multifamily brokerage firm, KIG CRE finds that investors are mistaken to overlook the opportunities still present in Chicago. Multifamily transactions this year show a strong demand for Chicago product, and a healthy in-migration of high-earning renters will help absorb the 6,613 new Chicago apartment units coming online in 2018.Learn More
Other markets are facing steeper pipelines and are facing a larger delivery impact relative to their market sizeLearn More
The increase in educational attainment and income in Chicago is not solely due to out-migration in the poorer neighborhoods on the Far South Side, but also the influx of a highly educated and skilled workforce into Core and Northern neighborhoods. This inflow has fed the multifamily growth throughout these areas and is likely to increase as more corporations move into downtown Chicago.Learn More
The Chicago suburbs have seen a surge in institutional dispositions – totaling more than downtown and neighborhood volume combined. This is a stark change from 2016, when downtown transactions comprised a strong 49% of the volume.Learn More
A burgeoning market in the Midwest, Grand Rapids has a number of multifamily developments currently proposed or under construction. These include deliveries in both the downtown core of Grand Rapids, as well as in surrounding towns like Grand Haven, Hudsonville, and Grandville.
As of March 2018See Full Map
With a population of 45,660 residents, and a household median income of $98,102, the city of Elmhurst, IL maintains a very close-knit and vibrant community. Elmhurst was incorporated in 1882 and became a commercially successful dolomite limestone quarry. The DuPage County province, named after a large plantation of elm trees, has an enviable charm that attracts families and family-seeking people. Family Circle Magazine has even named Elmhurst one of the top 10 cities in the country to raise a family. Elmhurst is Midwestern Americana, Mom and Pop stores, tree-lined streets and apple pie.Learn More
As the Loop saturates with an ever-growing quantity of renters, the South Loop area between Congress and I-55 has become an enviable community for renting within a proximity of Chicago’s working hub. Walking to work is painless, and there’s plenty of public transportation in the area. The neighborhood comprises a dynamic mix of histories and attractions. The Motor Row District along South Michigan Avenue and the nearby Prairie Avenue District, once dubbed “Millionaire’s Row” (which housed Chicago’s wealthiest elite during the end of the 19th century), evoke the South Loop’s opulent history. Lofts and condos fill former commercial spaces that operated as publishing companies. Contemporary business professionals and students have transmogrified the South Loop into a combination of urban housing and gritty entertainment, the confluence of music clubs, restaurants, smaller theatres and reputable museums.Learn More
Elk Grove Village is a suburban community northwest of Chicago, near O’Hare International Airport. Residents are near I-290, which makes it incredibly connected to the entire Chicagoland area. The area is jam packed with employment opportunities, exciting attractions, shopping centers and great food.Learn More
This neighborhood is a living legacy of Chicago’s status as an immigrant haven. Called Little Italy by some and University Village by others, the corner of land bordered by I-90 and I-290 is the cultural nexus of a storied Italian community. Restaurants and shops have stood the test of time in this area. Original construction like the Jane Addams Hull-House and the Shrine of Our Lady of Pompeii are reminders of the late 19th century – when this area was a haven for Europeans moving to America.Learn More
The Village of Lake Bluff sits on the beautiful shores of Lake Michigan, 35 miles north of Chicago. Lake Bluff epitomizes the North Shore lifestyle of the Chicagoland suburbs. Residents have an average income of $147,072 (according to information from Nielsen) and enjoy a phenomenal education system.Learn More
Anchored by the shore of Lake Michigan is Lakeview, the city’s second-largest neighborhood and home to the World Series Champions — the Chicago Cubs. This pristine area boasts incredible lakeside views, a budding theatre district, a family friendly atmosphere, a plethora of quaint restaurants and a rich nightlife that are never lacking in personality. From Boystown to Wrigleyville, and all the way to its southern border of Lincoln Park or the western edge of Roscoe Village, there’s always something to do or see in Lakeview.Learn More
Just to the west of Chicago, tucked between Bloomingdale and Wheaton along North Avenue, is Carol Stream – a thriving Chicago suburb with high graduation rates and ample local amenities. Members of this neighborhood pride themselves on phenomenal education, and CNN’s “Money Magazine” ranked Carol Stream 49th on its list of the 100 best places to live in the United States in 2011.Learn More
Itasca is a northwestern suburb of Chicago and part of DuPage County. Local attractions like the Itasca Park District, Medinah Country Club and Woodfield Mall are just a few of the incredible resources this community offers. The Village of Itasca is near recreation, shopping, major thoroughfares, local schools and employment hubs. Plus, according to GreatSchools.org, Itasca schools have an incredible 9 out of 10 ranking.Learn More
Home to the largest convention center in North America (McCormick Place), McCormick Square is an expanding near-southside community currently experiencing a development boom. This area is the posterchild for transformation in Chicago, a city corridor that offers more than 2.6 million square feet of exhibition space. McCormick Square constitutes the plot of land surrounded by South Loop, Chinatown, the Prairie District and Bronzeville.Learn More
Along the bike-friendly Hipster Highway (a heavily traversed stretch of Milwaukee Avenue), just north of the Wicker Park community that exploded in the early 2000s, is Logan Square – an area that is attracting droves of renters for its quirky sensibilities and similarity to old Wicker Park. This neighborhood, bordered by Diversey, Western, Bloomingdale and the Metra North Line, boasts refreshing diversity and a pursuit for authenticity. You're more likely to find a tiny cocktail den or geeked-out coffee shop than a sports bar or chain restaurant.Learn More
One of Chicago’s 77 community areas, Rogers Park is a far north side neighborhood that boasts the most cultural diversity in the city. With more than 40 languages and 80 nationalities represented between Howard Street and Devon Avenue, the area is truly a melting pot. The neighborhood has an amazing proximity to Lake Michigan, along with beach bikes paths and colorfully painted murals that breathe life into the community.Learn More
Much of this area was historically part of the city's Polish Downtown, but now exists as a collection of distinct communities. According to Crain’s Chicago Business, living units in the ‘hip swath’ of the city are selling faster, on average, than any other homes in the city or suburbs. This includes West Town. As a “destination neighborhood,” West Town has all the restaurants (West Town Deli) and bars (Bangers and Lace) it needs, while also providing ample transportation for individuals who work in the city.Learn More
Modern Old Town alludes to the Victorian era, with its Italianate and Queen Anne architectural style and masonry. But, not too long ago, the area was home to multiple Native American tribes. These people, from whom Chicago gets its name, add to the rich history of both Old Town and Chi Town. Flash forward more than a hundred years, and a new comedy enterprise joins the neighborhood. The organization is called Second City (celebrated its 50th anniversary in 2009), and a bevy of Chicagoans have found success via the improvisational club. From Bill Murray to Tina Fey, Old Town has seen its share of celebrities. In terms of boundaries, the neighborhood is not intimately defined: Some individuals defend that Old Town extends as far as one can hear the bells from St. Michael’s Church. Such a statement reaffirms the importance of such an historic structure – the cathedral is one of only seven buildings that survived the Great Chicago Fire.Learn More