Multi-Family Real Estate Prices
If you’re considering selling your apartment building this year, the market is currently on your side. In general, a healthy real estate market has a 3-5% annual appreciation rate. Chicago Multi-family real estate prices have appreciated roughly 40% since January 2015, that’s an 8% appreciation per year. Keep in mind that real estate is local so it is important to research your neighborhood to get accurate data and make a wise determination.
Should I Sell My Property Now?
We are seeing high demand in certain areas, like in Logan Square where prices have skyrocketed in recent years. There are multiple factors contributing to this trend but most important is the lack of inventory, high buyer demand and flexible financing.
Lack of Inventory - No enough properties on the market for buyers to pursue and make offers.
High Buyer Demand - Many buyers are investing in 2-flats and 3-flats because of the benefits of having rental income.
Flexible Financing - Banks have great financing options for seasoned and new buyers.
All these three things combined make the prefect recipe for a sellers’ market. If you can get the highest price for your property now, WHY WAIT?
Multiple Offers On Our 3-Flat Listings in Logan Square
3528 W Belden
Rare 3-Flat Greystone, sold with multiple offers
2531 N Harding
Frame 3-Flat in need of updates on oversized lot, sold with multiple offers.
Your Chicago Multi-Family Real Estate Agents
Selling a multi-family property is not the same as selling a condo or single family home. Our team can help by providing an in-depth property analysis and help you determine what repairs need to be done before you list your property for sale. We have over 15 years of experience working in Multi-Family real estate sales, contact Jose Hernandez to schedule a private consultation.