Investor Shows Interest in DuPage County Apartments

November 20, 2012

dupage county apartmentsYet another investor is showing an interest in suburban Chicago apartments. San Francisco-based Friedkin Realty Group recently purchased The Berkshires, a 264-unit complex in Glen Ellyn.

Excluding the purchase of the Glen Ellyn apartment complex, Friedkin Realty has spent $182 million on five suburban Chicago properties since 2008, according to Appraisal Research Counselors, a Chicago-based consulting firm.

Investors have been showing increasing interest in Chicago apartments due to rising rents. Even though apartment sales decreased over the summer, investors are now planning big purchases before year’s end. Recent apartment complex sales have also taken place in Aurora and Hinsdale.

Many investors are also focusing their attention toward the downtown apartment market, and it is expected that developers will add more than 7,000 apartment units to Chicago by December 2014. Neighborhoods such as River North and Bucktown are also booming due to a high population of young professionals.

Do you rent an apartment in any of these areas?

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