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Gail Lissner, CRE, SRA 312 565 3423 Appraisal Research Counselors 400 East Randolph, Suite 715

Chicago Residential Market Update. Gail Lissner, CRE, SRA 312 565 3423 Appraisal Research Counselors 400 East Randolph, Suite 715 Chicago, IL 60601. Y/Y Employment Change…. As of Dec 2015, up 78,008 jobs over Dec 2014. Homeownership Trends…. Suburban Net Rent PSF 1Q16….

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Gail Lissner, CRE, SRA 312 565 3423 Appraisal Research Counselors 400 East Randolph, Suite 715

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  1. Chicago Residential Market Update... Gail Lissner, CRE, SRA 312 565 3423 Appraisal Research Counselors 400 East Randolph, Suite 715 Chicago, IL 60601

  2. Y/Y Employment Change… As of Dec 2015, up 78,008 jobs over Dec 2014

  3. Homeownership Trends…

  4. Suburban Net Rent PSF 1Q16… Sample Submarkets – Y/Y Cook NW: 5.8% DuPage 1.6% Naperville/Aurora 4.8% Will .7% Overall 4.8%

  5. Suburban Occupancy 1Q16… Sample Submarkets Cook NW: 96.0% DuPage 96.7% Naperville/Aurora 96.4% North Shore 95.4% Will 95.4% Overall 96.3% vs. 96.3% in 1Q15

  6. Supply Considerations… Shift from North Shore to MSA Total Count Modest for MSA Under Construction In Lease Up

  7. Downtown Chicago Net Rents… Luxury: $3.18 PSF, up 3.58% Y/Y Class A: $2.98 PSF, up 4.56% Y/Y Class B: $2.52 PSF, up 2.02% Y/Y

  8. Class A Growth-Same Store Sales… Up 2.98% Y/Y New buildings are distorting rent growth

  9. DT Occupancy Trends… 94.2% – 1Q16 93.8% - 1Q15

  10. The Downtown Rental Pipeline…

  11. Neighborhood Rental Pipeline… 8,300 Units Proposed & Under const.

  12. Development along Hipster Hwy… 2,500+ units Proposed/under construction Most buildings under 75 units And 8 buildings with 100-365 units

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