For years, apartment development in the Chicago area was largely urban, with ubiquitous cranes working to meet seemingly unwavering demand for luxury high-rise rentals. But today, as downtown rent growth has leveled out, deal seekers are also eyeing the suburbs, which have benefitted from a lack of new construction and declining homeownership. Recent data speaks to the strength of the market: suburban rents have continued to climb even as new supply is added, and vacancy has continued to decline due to the pent-up demand. Seeing a trend, Taylor Johnson connected the Chicago Tribune with clients Marcus & Millichap, M&R Development, Draper and Kramer, Incorporated and Foxford Communities for market insights and representative projects that underscore developers’ renewed interest in the suburbs. Read the story here.

M&R Development’s The Residences at Hamilton Lakes opened in Itasca, Ill., in 2017, offering convenient access to O’Hare International Airport as well as many suburban business hubs in Chicago’s western suburbs.