Chicago Multi-Family Apartment Building Analysis 2012
Let’s take a quick look at the sales for multi-family
properties in 2012. Multi-family properties have 5 or
more units. The demand for this property type has increased
over the last few years.
Rental demand is strong in Chicago and rents are increasing
about 3% to 5% annually in many areas.
This analysis is based on multi-family sales for the period
Jan 1st 2012 through Dec 20th 2012.
Here are some key metrics:
* Total properties sold: 233
* Average Selling Price: $479,480
* Average # of Units per property: 8.66
* Average Cap Rate: 10.26%
* Average Cost Per Unit: $55,367
* Average Gross Rent Multiplier: About 6
Hopefully, you found this information useful. I believe that this sector will
experience steady growth for at least the next 5 years.
If you have any questions about buying or selling multi-family apartment buildings
in Chicago, please send an e-mail to mark@markkillion.com
Until the next time,
Mark Killion
Real Estate Broker
Century 21 Affiliated
5200 S. Harper Ave
Chicago, IL 60615
24 Hour Voice Mail: 312-242-1822
Send me a note!
Visit me online: www.773property.com
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