Essex Realty Group Lists Mixed-Use Property in Chicago’s Old Town
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Chicago capital flow has been concentrated in industrial along the I-55 and I-80 corridors and in the most select downtown trophy office submarkets. Multifamily transaction volume has moved up in the Near North and West Loop. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The 65th Chicago story tracked on the wire in September 2026. All Chicago coverage →
- Disclosed multifamily deal value tracked in September 2026: $7.9B across 91 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
Essex Realty Group is marketing 1628-1630 North Wells Street for sale, a mixed-use property ideally situated in Chicago’s Old Town neighborhood. The offering features four residential apartments, ground-floor retail s…
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