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Markets to watch in 2017: Chicago

by James F. McClister

chicago-emerging-real-estate-market-2017

There is no denying the building and lot availability problems plaguing the Chicago market, but that doesn’t negate the fact that it’s still considered one of the top real estate markets to watch in 2017, according to a joint report from the Urban Land Institute and PwC.

In a survey of more than 500 real estate professionals, around which ULI and PwC shape its annual report, Chicago was ranked the overall No. 19 market to watch in 2017, with the consensus being that it’s a diverse and growing market, and that it provides great opportunities for both investors and families (but most notably investors).

Praise for the Chicago market included:

  • Employment growth is driving urban multifamily demand
  • Suburban industrial markets are improving market fundamentals
  • It’s considered a “lower-cost alternative” to other gateway markets
  • The market is relatively stable

To see Chicago’s full rankings and how it compares to other cities, see our table below:

Overall

Rank Market
1 Austin
2 Dallas/Fort Worth
3 Portland
4 Seattle
5 Los Angeles
6 Nashville
7 Raleigh/Durham
8 Orange County
9 Charlotte
10 San Francisco
11 Denver
12 Boston
13 New York – Manhattan
14 Oakland/East Bay
15 Atlanta
16 New York – Brooklym
17 San Jose
18 Salt Lake City
19 Chicago
20 Tampa/St. Petersburg
21 Phoenix
22 Orlando
23 San Diego
24 Washington, D.C. – District
25 Miami
26 Indianapolis
27 Philadelphia
28 Pittsburgh
29 Washington, D.C. – Northern Va.
30 Northern New Jersey
31 Charleston
32 San Antonio
33 Washington, D.C. – Md. Suburbs
34 Baltimore
35 Fort Lauderdale
36 Inland Empire
37 Greenville
38 Minneapolis/St. Paul
39 Long Island
40 Houston
41 Cincinnati
42 Columbus
43 Palm Beach
44 New York – other boroughs
45 Sacramento
46 Boise
47 Jacksonville
48 Kansas City, Mo.
49 Westchester, N.Y./Fairfield, Conn.
50 Detroit
51 Louisville
52 Honolulu
53 St. Louis
54 Oklahoma City
55 Cleveland
56 Knoxville
57 Des Moines
58 Madison
59 New Orleans
60 Cape Coral/Fort Meyers/Naples
61 Las Vegas
62 Tucson
63 Gainesville
64 Albuquerque
65 Milwaukee
66 Tallahassee
67 Memphis
68 Birmingham
69 Richmond
70 Omaha
71 Spokane, Wash./Coeur d’Alene, Idaho
72 Tacoma
73 Portland, Maine
74 Virginia Beach/Norfolk
75 Providence
76 Deltona/Daytona Beach
77 Hartford
78 Buffalo

Investment

Rank Market
1 Dallas/Fort Worth
2 Seattle
3 Austin
4 New York – Manhattan
5 Orange County
6 Los Angeles
7 San Francisco
8 Portland
9 Nashville
10 Boston
11 Atlanta
12 Charlotte
13 Raleigh/Durham
14 New York – Brooklym
15 Denver
16 Oakland/East Bay
17 Chicago
18 Salt Lake City
19 Phoenix
20 San Jose
21 Washington, D.C.ÐDistrict
22 Philadelphia
23 Tampa/St. Petersburg
24 San Diego
25 Miami
26 Indianapolis
27 Orlando
28 Northern New Jersey
29 Pittsburgh
30 Washington, D.C. – Northern Va.
31 San Antonio
32 Charleston
33 Baltimore
34 Washington, D.C. – Md. Suburbs
35 Fort Lauderdale
36 Minneapolis/St. Paul
37 Greenville
38 Inland Empire
39 Long Island
40 Houston
41 New York – other boroughs
42 Cincinnati
43 Columbus
44 Kansas City, Mo.
45 Detroit
46 Palm Beach
47 Westchester, N.Y./Fairfield, Conn.
48 Sacramento
49 Louisville
50 Jacksonville
51 Honolulu
52 New Orleans
53 Boise
54 Madison
55 Oklahoma City
56 St. Louis
57 Cleveland
58 Knoxville
59 Des Moines
60 Tallahassee
61 Las Vegas
62 Birmingham
63 Cape Coral/Fort Meyers/Naples
64 Spokane, Wash./Coeur d’Alene, Idaho
65 Tucson
66 Memphis
67 Albuquerque
68 Milwaukee
69 Omaha
70 Tacoma
71 Richmond
72 Portland, Maine
73 Gainesville
74 Providence
75 Virginia Beach/Norfolk
76 Deltona/Daytona Beach
77 Hartford
78 Buffalo

Development

Rank Market
1 Austin
2 Portland
3 Nashville
4 Raleigh/Durham
5 Dallas/Fort Worth
6 Los Angeles
7 Charlotte
8 Seattle
9 Denver
10 Orange County
11 San Jose
12 Oakland/East Bay
13 San Francisco
14 Boston
15 Atlanta
16 Tampa/St. Petersburg
17 Salt Lake City
18 Orlando
19 New York – Brooklym
20 New York – Manhattan
21 Chicago
22 San Diego
23 Phoenix
24 Charleston
25 Pittsburgh
26 Miami
27 Indianapolis
28 Washington, D.C. – District
29 Washington, D.C. – Northern Va.
30 Philadelphia
31 San Antonio
32 Northern New Jersey
33 Washington, D.C. – Md. Suburbs
34 Baltimore
35 Fort Lauderdale
36 Inland Empire
37 Greenville
38 Minneapolis/St. Paul
39 Long Island
40 Cincinnati
41 Columbus
42 Boise
43 Palm Beach
44 Sacramento
45 Jacksonville
46 Houston
47 Westchester, N.Y./Fairfield, Conn.
48 St. Louis
49 Louisville
50 New York – other boroughs
51 Kansas City, Mo.
52 Honolulu
53 Des Moines
54 Detroit
55 Gainesville
56 Oklahoma City
57 Cleveland
58 Knoxville
59 Cape Coral/Fort Meyers/Naples
60 Madison
61 Milwaukee
62 Tucson
63 Albuquerque
64 New Orleans
65 Las Vegas
66 Memphis
67 Richmond
68 Tallahassee
69 Omaha
70 Birmingham
71 Virginia Beach/Norfolk
72 Portland, Maine
73 Tacoma
74 Deltona/Daytona Beach
75 Providence
76 Buffalo
77 Spokane, Wash./Coeur d’Alene, Idaho
78 Hartford

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