Minneapolis has developed into a city attractive to young people that remains more affordable than gateway markets, and both qualities makes it attractive to investors.
CHICAGO—The investment landscape within the US went through a significant change in the last few years. An economic recovery that was first confined to the nation's gateway markets spread to secondary and tertiary markets, transforming many into great places to invest. At the same time, gateway prices increased so much that some potential buyers have begun avoiding investments there.
As a result, according to the new Emerging Trends in Real Estate report by the Urban Land Institute and pwc, things are looking up in many Midwest markets including Chicago, which, although considered a gateway market, historically has lower prices than the coastal regions. That might not be apparent at first glance, as Chicago ranked 49th on the group's list for overall real estate prospects.
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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.
