Bisnow recently spoke with Todd Stofflet, managing director on Lument’s multifamily investment sales team, for an in-depth look at the Chicago apartment market, which has enjoyed rent growth momentum from supply-side constraints and favorable demographics. While local and private investors have taken note and are keeping deal flows moving, full “take off” will require a return of institutional money.

“The continued strength in Chicago is starting to wake the herd up, and they’re starting to ask questions and develop investment theses on Chicago and some of the other Midwestern markets,” Stofflet said. “It takes time, and it takes transactions.” Read the full story on Bisnow to get Stofflet’s data-backed insights on construction starts, transaction volume, and a shifting renter ship.