CHICAGO—The apartment boom around downtown Chicago will continue in 2018, but the boom has finally spread to the suburbs as well, and the region's municipalities can play a big role. Transit-oriented developments near train lines are all the rage, but luxury renters want something in addition to great transportation options.
“Keeping the downtown core alive for as much of the day as possible is key,” Bryan Farquhar, senior manager, real estate development, Opus Development Co., LLC, tells GlobeSt.com. “There are amenities we look for,” including entertainment options, groceries, and restaurants, and in the best-case scenario, each should be accessible by foot.
The City of Elmhurst, a western suburb, put forward a new plan for its downtown in 2016, recommending it “become a neighborhood for its residents, a focal point for the community, and a destination for the region.” A revised zoning code was one of the most important changes, as the new rules allow for higher residential buildings that boost neighborhood density.
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Brian J. Rogal
Brian J. Rogal is a Chicago-based freelance writer with years of experience as an investigative reporter and editor, most notably at The Chicago Reporter, where he concentrated on housing issues. He also has written extensively on alternative energy and the payments card industry for national trade publications.
