Thursday, August 9, 2007

CoStar confirms it - Chicago's a hot retail market

Here's the link. I think we've all felt it, and I know retail activity is good, but it is nice to see the raw data. Granted, we're not LA with 5.6% cap rates and sale prices approaching $300/sf, but if you compare the median sale prices here to markets such as Atlanta and South Florida where numbers are higher, you have to at least think about room for price increases here down the road. Maybe there is more scarcity there or maybe the sheer volume here makes the difference. I just know it is very interesting and bodes well for more transactions down the road.