CHICAGO—As new apartment towers rise over the city of Chicago, heavily concentrated just west and south of the Loop, inevitably people in the industry have begun to wonder when the market will hit a saturation point. But these days, unlike say, 2007, the market seems to have a built-in discipline. That at least was the consensus during a panel discussion on Tuesday at Marcus & Millichap's multifamily forum.
Steve Rachman, regional manager and managing broker for M & M, led the discussion at the Mid-America Club with several of the city's top dealmakers.
“We won't see a crash like we did before because there is more equity in new projects,” said Sonny Ginsberg, an attorney with Ginsberg Jacobs. This sentiment was repeated by several participants in the morning panel.
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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.
