After slow start, investment sales volume picks back up in Chicago
Despite 2019 showing initial signs of investment sales activity slowing down, the volume has picked up in Q2
May 29, 2019
- Despite 2019 showing initial signs of investment sales activity slowing down, perhaps due to tax and mayoral uncertainty, the volume has picked up in Q2. 24 buildings have come to market, totaling nearly 15.8 MSF, or 10.8% of the total Chicago inventory. Of the 24 buildings, six of them make up AmTrust’s portfolio. 13 of them are in different areas of the Central Loop, three in Fulton Market and five in the West Loop. Furthermore, about 30% of those buildings are class A product, with delivery years ranging anywhere from mid-1900’s then renovated, to 2018.
- Though it’s undetermined how many of those transactions will follow through, it is at the very least a testament to the different asset types and the versatility of the Chicago market. Ranging from low-rise loft space to 1.5 MSF glassy high-rises, there is opportunity for every type of office investor in Chicago’s current real estate climate.
Source: JLL Research