In a recent article in The Chicago Sun-Times by Frances Knowles about the local real estate market, Lisa Sanders, a real estate, stated that, "We have a lot more multiple offers."Chicago real estate investing

An important indicator for any asset class rising in price is the buying volume.  When there is a strong volume from many looking to purchase an asset, that is solid proof there is a bull market for it.

 There is no doubt that this is the case for real estate in the Chicago area.  As Knowles points out in her helpful piece, single family homes are selling very well.  Nicole Flores, another real estate agent in the Chicago area stated about this, that "I think that this year was one of the best in probably the last six or seven."

Not only is the volume strong for Chicago real estate, so is the price level and the numbers of sales.  According to the Illinois Association of Realtors, both are up sharply over the last year.  From this buying, the Chicago real estate market is the strongest it has been in years.

A major reason for this, as pointed out by an article on this site, "Foreign Investors Love Investing in Chicago Real Estate and You Should Too," is heavy investment from foreign buyers in the surging real estate market.  Chicago is in one of the nine most attractive markets in the United States where foreign investors have piled in tens of billions of dollars.  In addition to the foreign buyers, institutional investors such as hedge funds and private equity groups have been very active in Chicago real estate, too.

Chicago is particularly attractive for investing in turnkey properties.  

These are units that experienced professionals have found, fixed up, secured good tenants for and then manage after the sale to real estate investors.  What makes turnkey rental properties so appealing is that investors can profit from the experience and expertise of seasoned professionals.  There is a steep learning curve in real estate investing that passive investors with a long term strategy can avoid through the buying of turnkey properties.

What makes Chicago so appealing for turnkey properties is the number of single family home neighborhoods.  As Knowles noted in her Sun-Times article, single family homes are selling the best.  That is a result of families driving the real estate market, which is a good sign.  With so many great neighborhoods with affordable housing, demand is picking up for single family homes in Chicago.

It is not only families that find Chicago so desirable, either.  According to a recent article in USA Today, Chicago is one of the most attractive cities for those just graduating from college.  Chicago had the second highest growth of any American city for recent college graduates moving into its neighborhoods.  While those just graduating from college will have a different check list for housing than families, the employment, social, and cultural aspects of Chicago are very compelling to all.

"A lot of multiple offers" tells the story about the rebounding Chicago housing market in just a few words.  The Chicago Sun-Times article by Frances Knowles provides even more detail.  For investors, profiting from the resurgent real estate market in Chicago will complete the story!