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Is Now the Time for Multifamily Owners to Sell?

Potential sellers in the Midwest have taken a step back and hesitated to put their properties on the market.

chi-MidpointeApartments (2) Midpointe Apartments in Chicago’s Mt. Greenwood neighborhood recently sold for $49.5 million.

CHICAGO—The US multifamily market has been in the midst of a years-long boom, and demand is still robust. But in a year that could bring changes, especially when it comes to interest rates, potential sellers in the Midwest have taken a step back and hesitated to put their properties on the market.

“In the past six months, we noticed a bit of a slowdown,” Todd Stofflet, managing partner at Chicago-based KIG CRE, tells GlobeSt.com. He believes many owners may have instead decided to refinance their properties.

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Brian J. Rogal

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.

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