Over many Chicago rental sub-markets, occupancies have been at all time highs, and thankfully, all indications point to a similar experience in 2013.
Chicago, IL (PRWEB) November 21, 2012
Stuart Handler, CEO of TLC Management Co., participated in and shares feedback from the October 29th Northern Trust Co. annual Chicago Real Estate Symposium. The event featured Handler, as well as four other distinguished panelists and covered “What Real Estate Investors Need to Know Beyond 2012”. Whether it was multi-family, retail, or industrial, just to mention a few real estate sectors, each panelist was specifically chosen to speak on behalf of his individual area of expertise. Handler was chosen to represent the Chicago multi-family housing market.
Handler was chosen for a number of reasons. First and foremost, he has been working in real estate for over 40 years. To say he knows the Chicago apartment market would be an understatement. More importantly, Handler is closing in on his 15th year of being CEO of TLC Management, and his company, despite the overall challenges presented in the real estate market, continues to flourish. In addition, TLC is the largest single owner of apartment buildings in the Chicagoland market. Fortunately, in 2012 both TLC and the state of the Chicago market were in a positive place, which was the overarching theme of the late October symposium.
Handler was pleased to share his positive assessment of the 2012 market and his predictions for 2013 with symposium attendees. “Over many Chicago rental sub-markets, occupancies have been at all time highs, and thankfully, all indications point to a similar experience in 2013.”
Handler also offered attendees a few words of advice. “Be weary of cap rates in the coming year, they could be inaccurate. Broker-stated operating expense information is typically understated as compared to the actual costs of operating apartment buildings, and that causes reported cap rates to be higher than what actually occurs in the real world of buying real estate.”
From celebrating the success of the past year, to anticipating good prospects in the next, to Handler, it appears as though the Chicago multi-family real estate market is flourishing right now and is not expected to appreciably change in the coming year.
About TLC Management Co.
Since its inception in 1997, TLC has provided Chicago residents with the best in lakefront living. TLC Management is a Chicago-based company that exclusively owns and operates thirty-four rental apartment buildings on or near Chicago’s lakefront from Evanston on the North to Hyde Park/South Shore on the South. To learn more about TLC Management Co. and their lakefront apartment properties visit them at http://www.chicagorentals.com