Is downtown Chicago headed for a glut of new apartments?

Quite a few real estate developers and lenders apparently don't think a glut is on the horizon.

Their confidence has been buoyed by the rapid absorption of the half-dozen new rental towers that opened for occupancy within the past two years, by favorable demographic trends and by a perception that downtown Chicago is becoming an increasingly desirable location.

The result of that confidence is that more than two dozen large new projects are underway or on the drawing boards. You can see all of them, and their status, on the map below, and in the list at YoChicago.

View New downtown Chicago apartment projects in a larger map

Not all of these projects will be built but 10 of them, with a total of 3,584 units, are already underway.

Whether or not a glut develops, downtown Chicago renters will have quite a few more options in the upcoming years.

Leave a comment