January’s a month of forecasts, as we look ahead and hope for above-freezing temperatures and easily digestible interest rates. On the multifamily front, First Western Properties’ Paul Tsakiris (snapped in Greece) says we’ll see the return of the now-liquid individual investor, especially in peripheral areas like Old Irving, Pilsen, and Belmont Cragin. The cost of capital for individual investors is substantially higher than most of the investment groups and funds (many from out of state) currently acquiring properties in the city’s core metro areas, explaining their new focus on outlier submarkets. In the later part of ’14, expect South Side neighborhoods and neglected suburbs like Calumet City and Blue Island to receive much more investor attention, he says. Got a market prediction? Tweet it with #BisnowCrystalBall and we will print the best ones here!
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Related Topics:
Belmont Cragin
, Blue Island
, Calumet City
, First Western Properties
, Paul Tsakiris
, South Side
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