Chicago Real Estate Investment Star Shines Brighter in 2013

For the past couple of years, real estate investors have grown more bullish as far as Chicago real estate market is concerned and turned their commercial interests in real estate properties to bigger cities in the nation. In 2013, Chicago real estate market got a 6.05 score according to an annual publication report known as ‘Emerging Trends in Real Estate’. This showed an improvement as it recorded a score of 5.57 in the previous year.

The survey continued to note that this was the third time the market recorded a gain in a straight of three consecutive years. As such, while Chicago real estate market is still behind, it is looking much better and this year seems more promising than ever which makes it a potential market to consider for real estate investors.

The respondents in the survey rated 51 investment markets in the nation in terms of their attractiveness for investments in real estate in 2013. The report was based on interviews and views of major investment firms, commercial real estate investment companies, real estate trusts, real estate developers, professional investors and

For the past couple of years, real estate investors have grown more bullish as far as Chicago real estate market is concerned and turned their commercial interests in real estate properties to bigger cities in the nation. In 2013, Chicago real estate market got a 6.05 score according to an annual publication report known as ‘Emerging Trends in Real Estate’. This showed an improvement as it recorded a score of 5.57 in the previous year. The survey continued to note that this was the third time the market recorded a gain in a straight of three consecutive years. As such, while Chicago real estate market is still behind, it is looking much better and this year seems more promising than ever which makes it a potential market to consider for real estate investors.

The respondents in the survey rated 51 investment markets in the nation in terms of their attractiveness for investments in real estate in 2013. The report was based on interviews and views of major investment firms, commercial real estate investment companies, real estate trusts, real estate developers, professional investors and the traditional real estate investors looking for the best markets that will assure them higher yields on their investments. While the investors noted that they currently like Chicago more compared to other years, their preference for other bigger cities like Boston, New York and San Francisco is still higher. However, it is the current trend of Chicago real estate market that really fascinated most of them and the conclusion was that even though the city might not be the best real estate investment market today, it’s star shines brighter in 2013 and there is a lot of hope in the coming years.

For the second year on a straight, Chicago has been ranked at number 12 among the major 15 U.S real estate markets. According to the report, Chicago’s economy appears stalled with job forecasts being negative compared to the last peak. Nevertheless, theAsk EquityBuild News report was keen to note an upward consistent trajectory for commercial real estate market in Chicago. With the net operating income and rents on the properties rising, this will definitely boost investors’ confidence on this market. A large number of investors seem to like industrial properties and office in Chicago area more than they did like the area last year. According to the survey, 36.2 percent of the respondents recommended purchasing Chicago office and industrial properties in 2013 an increase of 15.9 percent 2012.
 
Other types of properties also caught the attention of the investors with most of them being optimistic in buying hotel properties, retail properties and apartments in Chicago area. As such, while Chicago’s real estate’s star might not be shining brightest currently, it seems sufficiently bright to catch the attention of many investors. While you will obviously hear investors talking about Boston, New York and San Francisco, the fact is that after the top markets have been taken away, investors will always have an interest on Chicago real estate market and this is what makes it a potentially promising market in 2013 and years to come.

by Sherlin Lindsay - EquityBuild News Contributor