Wondering if the multifamily frenzy will slow down? We’re not seeing a dent in the activity. Here’s a look:
2015’s hot multifamily housing market. Bisnow unpacks the biggest multifamily housing sales (thus far) in Chicago during 2015. The biggest sale? Heitman’s $328 million buy of OneEleven Apartment (111 W. Wacker) from Related, creating the highest price ever paid for an apartment building in Chicago. That’s $651 K per unit. The second largest sale was Burnham Pointe Apartments. Crescent Heights paid $126 million or $423 K per unit. Check out Bisnow for more.
New multifamily properties go green. This fall, Xavier, a new eco-friendly and sustainable apartment complex by Gerding Edlen will open in the former Cabrini Green area on Chicago’s north side. The 18-story building will feature a mix of sizes, from studio to two bedrooms, and plenty of sustainable features. Locally sourced materials and the energy efficient design should help achieve LEED Gold.
Want more eco-friendly multifamily? Try the Pacific Northwest. Construction on Atlas, a 98-resident development by SolTerra Systems, is slated to begin soon in Wash. Look for a 2K SF retail component as well. See
Commercial Property Executive for more. Read more