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Chicago Apartment Buildings for Sale
Apartment Buildings For Sale in Chicago
Chicago, located by Lake Michigan, offers a strategic spot for apartment buildings for sale. Its well-developed infrastructure, including being a major railroad hub and hosting O'Hare International Airport, one of the world's busiest, provides excellent connectivity. With a strong economy, boasting a GDP of $689 billion, and hosting the world's largest derivatives market, Chicago is ideal for commercial real estate investment. The city's focus on education, with institutions like the University of Chicago and Northwestern University, makes it appealing for students and professionals. The combination of geographical benefits, cultural richness, and top-notch education makes apartment buildings a prime investment in Chicago.
Properties in Chicago are in a city known for its significant arts, culture, and commerce contributions. Retail spaces draw on a large consumer base and a varied economy, offering another lucrative investment. Shopping centers benefit from being close to residential areas and highways, leveraging Chicago's large population and tourist appeal. Office spaces gain from Chicago's global business standing, hosting many Fortune 1000 companies. Residential income homes are appealing due to Chicago's varied workforce and student population. Together, these properties form a diverse segment of Chicago's real estate market, each providing unique investment opportunities.
Learn About Apartment Buildings For Sale in Chicago
How many apartment buildings for sale listings are available in Chicago, IL?
There are currently 261 apartment buildings for sale listings available in Chicago, IL.
What factors should I consider when searching for apartment buildings for sale in Chicago?
When searching for apartment buildings for sale in Chicago, it's vital to assess several key aspects to ensure your investment aligns with your goals and the local market conditions.
- Analyzing the economic landscape of Chicago, including the diversity of the economy and employment rates, can provide insight into the potential demand for rental units.
- Considering the proximity to key infrastructure such as O'Hare International Airport, public transit options like the Chicago "L", and educational institutions can enhance the appeal of your property to potential tenants.
How much does it cost to buy apartment buildings in Chicago, IL?
The cost of buying apartment buildings in Chicago varies, reflecting the city's diverse market. The average price per square foot for apartment buildings is $165, with an average size of 47,016 SF.
What is the largest apartment building available to buy in Chicago?
The largest apartment building available to buy in Chicago spans 692,835 SF.
Why is Chicago an ideal location for apartment buildings for sale?
- Chicago's economy, extensive transportation networks, a diverse labor pool supported by 66 Fortune 1000 companies, prestigious educational institutions like the University of Chicago, and a rich cultural scene make it an ideal location for apartment buildings for sale.
Size Summary For Chicago Apartment Buildings
| Apartment Building Size | Square Feet |
|---|---|
| Maximum | 692,835 SF |
| Average | 47,016 SF |
| Minimum | 500 SF |
Cap Rate for Chicago Apartment Buildings
| Apartment Building Cap Rate | Cap Rate Percentage |
|---|---|
| Maximum | 16.33% |
| Average | 8.39% |
| Minimum | 2.82% |
Prices for Chicago Apartment Buildings
| Apartment Building Price | Price Per SF |
|---|---|
| Maximum | $758 Per SF |
| Average | $165 Per SF |
| Minimum | $4 Per SF |
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