Decoding Chicago Multifamily: 2023 #1 Rent Growth and #1 Least New Supply w/ Jordan Gottlieb @ Essex Realty

Chicago currently sits #1 in the nation for rent growth in the last 3 quarters and is #1 for least new supply. 

“Chicago Posts Top Rent Growth, Outpacing Other Major Markets”

https://product.costar.com/home/news/shared/2106659681

In today’s episode, Drew sits down with Jordan Gottlieb, a seasoned multifamily investment sales broker at Essex Realty to discuss why this is happening and the opportunities and challenges facing the Chicago market both novice and experienced investors should be aware of.

Episode Highlights:  

3:01 - Jordan's Introduction and Overview of Chicago's Real Estate Market  

11:52 - Why Chicago has the Highest Rent Growth in America  

21:17 - The Intricacies of Real Estate Taxes in Chicago  

29:28 - The Impact of Domestic Outward Migration  

38:12 - Financing Multifamily Properties in Chicago  

48:44 - Comparison with the 2008 Financial Crisis  

56:20 - Importance of Realistic Property Valuation in a Volatile Market  

Want to connect with Jordan?* 

Find out more about Essex Realty at their website essexrealtygroup.com/team/jordan-gottlieb/, or reach out to Jordan directly at www.linkedin.com/in/jordangottliebessex/.

Topics Covered:

- Chicago's booming rent growth and what's fueling it

- The scarcity of incoming supply in the real estate market

- The importance of a dependable tax structure

- Value-add investing strategies for the Chicago market

- Financing multifamily properties: Insights and options

- Comparing the current market scenario with the 2008 financial crisis

- Being realistic about property valuation in fluctuating markets

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