One of IRR's newest offices, IRR-Chicago, has been cited in two recent Crain's Chicago Business articles:
November 01, 2017: Evanston poised for another apartment development wave
Though the Evanston apartment market is "really strong," it may not be strong enough to support an additional 1,100 units, at least not all at once, said Ron DeVries, senior managing director at Integra Realty Resources Chicago, an appraisal and consulting firm.
"That's a lot of units," he said. "I expect that some of those deals won't get financed, but some will happen."
November 03, 2017: Is Chicago's real estate bull market running out of steam?
Still, in some places, supply and demand are out of balance. The downtown apartment market tops the list: Developers are on pace to complete 12,500 apartments in downtown Chicago in 2017, 2018 and 2019, according to Integra Realty Resources Chicago, an appraisal and consulting firm. But Integra predicts there will be demand for only 9,400 units over that period. Amid a crowded market, rents at luxury buildings have stopped rising. To attract tenants, some landlords are offering big concessions.