As we navigate post-pandemic times, DMG continues to see strong interest in the suburbs. Roger Daniel, president and founder of DMG was thrilled to join with peers and industry leaders at the recent Bisnow: The Future of the Chicago Suburbs event to discuss game changing developments and how these developments are impacting the suburban rental market.
There are strong demographics including Millennials and GenZers interested in renting homes and Boomers often looking to downsize. In tandem, we are seeing suburban developers meet consumer demand with strong product options that give residents an ideal experience.
Residents want the additional space, high-end finishes and amenities that suburbs often provide while also giving the convenience of renting and having maintenance free-living. We are also seeing strong interest in the townhome model, especially which gives residents that additional space and feeling of a home.
DMG is seeing excitement over development across the Chicago suburbs including Mt. Prospect and Arlington Heights. Additionally, as discussion around the Chicago Bear’s relocation heats up, we know that the opportunity for development and rental growth in Arlington Heights will just expand and explode.
As DMG looks to the next couple of years, the Chicago suburbs are going to remain hot for all resident demographics. Residents value where they live and they want their apartments to reflect that – whether that be space, high-end finishes or community amenities there is a focus on ensuring all aspects of the building help make the property a home.
We feel like especially in a year with economic uncertainty, residents will be continuing to be looking for that comfort and reliability in where they live.