For the past decade, Chicago has been a leader in real estate development across multifamily construction and commercial property. According to a new report from StorageCafe, some sectors experienced tremendous growth while others plateaued due to factors related to the pandemic and strained financial markets.
Chicago ranked No. 16 for most activity among multifamily, self-storage, office, retail and industrial construction real estate sectors. The city added notable additions over the last ten years including approximately 59,000 multifamily units (seventh highest among 100 biggest urban hubs), more than 21 million square feet of office space (No 5 rank in country), 3.6 million square feet of new retail construction (No 7 rank) as well as 4.1 million square feet of self-storage space and 10 million in new industrial sector space delivered respectively .
By leveraging its strong market fundamentals such as population density , job growth , affordability & transportation infrastructure , Chicago continues to be one of top cities for investment opportunities within US Real Estate Market .
