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As 2013 comes to a close, CAA would like to wish its members, partners and other industry professionals a safe and happy holiday season. As we reflect on the past year for the industry, we would like to provide the readers of CAA In Focus a look at the most accessed articles from the year. Our regular publication will resume Jan. 14.




The dark side of downtown's apartment boom
Crain's Chicago Business
From Aug. 27: Downtown apartment landlords have 3,000 reasons to be worried about a coming glut. Landlords have known for a while that more than 5,300 downtown apartments will be completed in 2013 and 2014, the biggest supply surge since at least 1990. But a new report is predicting another 3,000 rental units or more in 2015.
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Downtown apartment rents hit new high, but supply surge coming
Crane's Chicago Business
From May 21: Downtown apartment rents hit another high in the first quarter, but landlords will lose their pricing power in the coming months. Effective rents at top-tier, or Class A, buildings rose to $2.63 a square foot in the quarter, up 1.9 percent from the fourth quarter and 5.2 percent from a year earlier, according to Appraisal Research Counselors, a Chicago-based consulting firm. Effective rents, which account for concessions such as free rent, have risen more than 26 percent since bottoming out in 2009.
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Have high-rise apartment rents peaked?
Crain's Chicago Business
From Nov. 19: Downtown apartment owners have been bracing for increased competition from a building boom that will add about 5,000 units to the market this year and next. But new data show they have an additional and more immediate problem: Demand is slowing exactly when landlords need it to pick up.
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Big city, tiny apartment: Small-scale living is new trend in US
Reuters via Chicago Tribune
From June 4: Aaron McConnell doesn't mind sharing a kitchen with seven neighbors. He's fine in living quarters with just enough room for a twin bed, a corner desk and little else. Closets? Forget about it — he stores his clothing and other possessions on shelves and hooks. McConnell's small-scale home life is part of a hot trend in U.S. real estate — micro apartments.
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New York investor cuts biggest suburban apartment deal since 2008
Crain's Chicago Business
From Feb. 26: In the largest suburban apartment sale in five years, New York investor TGM Associates L.P. paid $101 million for a 712-unit apartment complex in Willowbrook. TGM bought the west suburban property, formerly known as the Communities of Ascot Glen, from an affiliate of RREEF, financing the acquisition with a $75 million loan from Fannie Mae, according to DuPage County property records. TGM has since renamed the community TGM Willowbrook and plans to spend an additional $12 million on renovations, said TGM Managing Principal and CEO Thomas Gochberg.
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Apartment outlook brightens for Chicago renters
Chicago Tribune
From Sept. 10: Less than a month before moving, first-time renters Esther Levine and two friends toured four three-bedroom apartments on a Saturday morning and found two places they loved. The friends settled on the apartment that's within their budget and close to public transportation and a park. "It is a little less than what each of us had agreed to pay (in rent), so we are saving some money," said Levine, 23, a project director for a market research company. Levine and her friends are among many renters witnessing a transformation in the Chicago-area rental market.
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Guess who's driving the demand for rental apartments?
CNBC
From Feb. 12: The housing market is supposedly roaring back. Home prices are seeing their biggest annual gains since 2006. Renters must be rushing back to buy, right? Not exactly. In fact, even as housing and the greater economy improve, a shift in demographic trends likely will favor the rental apartment market for the foreseeable future. It is all about women.
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Luxe lobbies set the tone for apartment, condo buildings
Chicago Tribune
From Sept. 24: Wander into the lobbies of some Chicago-area condo and apartment buildings and you may never want to leave. Posh sofas beckon with luxurious cushions. The delicate fragrance of fresh flowers mixes with the aroma of brewing coffee. Residential lobby, you've come a long way.
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Time to Say Goodbye
Judy Roettig, EVP
From Dec. 3: As you know by now, I'm retiring at the end of this year and while I'm not particularly good at goodbyes that time has come. One of my firm beliefs is that family and work are of equal importance. It was a difficult decision, but it's time for me to devote time to my family. I'm packing my bags to move cross country to my new home in South Yarmouth, Cape Cod. It's a quirky house with flexible space to accommodate sons, grandchildren, siblings or friends (not all at once). I'm excited about the change not to mention opportunities to grow professionally and personally. I still have a lot more to do and now I have the time to do it.
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The online rental market is becoming a hotbed for scams
Business Insider
From July 2: Since lenders have tightened their requirements for getting a mortgage — which is making it harder to buy a home — the rental market is hot right now. Turns out, so is the online identity theft market, which is why it's no surprise that identity thieves are attacking people who are looking to rent.
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CAA In Focus
Colby Horton, Vice President of Publishing, 469.420.2601
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