| Marquette's Jim Cunningham tells us Chicago multifamily returns are simply "euphoric" right now. Sure, some areas like the Northwest quadrant have a bit of softness, but he expects rents to go up another 4% to 8% in 2012. Investors' passion for multifamily is changing the picture, though. Downtown prices hit $500k/unit sometimes last year, and that's when returns start to get questionable and you start to walk away from deals, he adds. | |
| Marquette and Davis Cos bought The Apartments at Woodfield Crossing in Rolling Meadows out of foreclosure a year ago. After a $9M repositioning, rents have bumped up 15% to 20%. |
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