What’s driving the Chicago market?

With a $764 billion economy and strong corporate migration, Chicago stands out as a top-performing market with compelling investment opportunities across asset classes. But before you invest, you need to truly understand what's driving the Windy City to guide your decisions.

We've gathered the need-to-know insights across apartments, office, industrial and retail that will give you a crash course in the trends shaping the Chicago metro.

Here are some highlights:

• With a 95% occupancy rate over 2.5% above the U.S. average and rents rising 5x faster than nationally, Chicago's apartment market is being propelled by limited new supply
• The city ranks 4th for planned office-to-residential conversions, allowing investors to reposition underutilized assets into income-producing multifamily amid rental demand
  
• As the electric vehicle manufacturing sector emerges, demand for modern industrial space near suppliers and a limited 0.2% retail vacancy rate offer value-add opportunities
  
• Despite a pandemic retail slowdown, Chicago absorbed 3.8M SF in 2023 – the second highest in the U.S. -- with rates 20% below average and a limited 0.2% retail vacancy rate pointing to room for rent growth
  

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