As many as 7K apartments are in the pipeline for downtown Chicago

February 23, 2018 02:51PM

Downtown Chicago is expecting to have 3,000 new apartments come online in 2018, which will be a relatively down year compared to the 4,350 units added in 2017 and the 4,200 units projected for 2019, according to executives at Integra Realty Resources. Even amid concern about an oversupply, a 31 percent increase in absorption from 2016 to 2017 shows there is still an appetite for downtown rentals, the Chicago Tribune reported. The big driver downtown: the 16,582 new jobs created in 2016 and the 15,883 jobs from 2015. [Chicago Tribune]