Saturday, December 9, 2017

Midwest Real Estate Experts Preview 2018 Multifamily Trends


Aaron Galvin
 CHICAGO, IL -- The accelerated growth of the multifamily market over the last several years has some in the industry wondering how long it can last. Yet demand for new apartments is projected to continue into the next decade, according to the National Multifamily Housing Council.

Research indicates a need for 328,000 new units every year through 2030, for a total of nearly 4.6 million, but the industry averaged only 225,000 completions annually from 2011-16.

 Buildings that claim their own space will be the ones to succeed in an increasingly crowded market, according to Aaron Galvin, CEO and co-founder of Luxury Living Chicago, a boutique luxury brokerage firm. “This really starts with developing an authentic brand, identity and design informed by the surrounding neighborhood and target demographic,” said Galvin.

For more information on this preview, please contact:

Kim Manning, kmanning@taylorjohnson.com, (312) 267-4527
Abe Tekippe, atekippe@taylorjohnson.com, (312) 267-4528


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