CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today released its Q3 2025 Suburban Chicago Multifamily Sales report. Among other findings, the firm reported a 40% year-over-year increase in the total dollar volume of multifamily transactions through the third quarter of 2025 and a 34% increase in the number of deals closed.
Data was collected by Interra’s suburban multifamily investment team of Managing Partner Patrick Kennelly, Managing Partner Paul Waterloo, Director Nathan Zito and Associate Andrew Stassi. The report tracked all multifamily sales in Chicago’s suburbs between $1 million and $50 million during the 12-month period ending in September 2025.
“Suburbs across Chicagoland have matured into stable multifamily submarkets with a solid renter base and limited new supply,” said Kennelly. “For investors, both local and out-of-state, that translates into predictable performance and durable asset value.”
Interra recorded 155 apartment building sales during the first three quarters of 2025, contrasted with 115 deals during the same period in 2024, a 34.7% increase. The $562.5 million in total sales volume through the first three quarters of 2025 represents a 40.4% increase over the $400.5 million in sales one year earlier.
Cook County represented the majority of sales with 94, while there were 24 transactions in DuPage County, 11 each in Lake and Will counties, seven in Kane County and four each in Kendall and McHenry counties. Will and Kendall counties saw the largest in-submarket growth, with their year-over-year share of sales representing a 550% and 300% increase, respectively.
“The activity we’ve tracked in Kendall and Will counties reflects growing confidence in the outer-ring suburbs,” said Kennelly. “As renters migrate to these areas in search of space and affordability, investors are following suit to capture that steady demand.”
Across all sales tracked by Interra, the average price per unit grew by 4.7% year over year, rising to $146,068 from $139,515. Investors targeted opportunities in stabilized assets, properties with repositioning potential and, where available, recently completed developments.
Investors showed strong appetite for large-scale deals, according to Interra’s data. There were 13 transactions in the $10 million to $50 million range during the first three quarters of 2025, nearly double the seven such deals recorded during the same period in 2024.
The Chicago suburbs saw continued interest from out-of-state buyers. There were 14 transactions involving a non-local investor in the most recent 12 months, a modest increase from 12 such deals the prior year.
As a leader in middle-market multifamily brokerage across the Chicago market, Interra closed a number of suburban transactions in the past 12 months. These include the $12.18 million sale of Harlem Towers, a two-tower, 83-unit multifamily property in Elmwood Park; the $2.55 million sale of 2300-2312 S. Central Ave., a 24-unit mixed-use building in Cicero; the $1.45 million sale of 3144 N. Boyle Terrace, a 10-unit apartment building in River Grove; and the $1.7 million sale of 312 N. Austin Blvd., a 10-unit property in Oak Park.
About Interra Realty: Founded in 2010, Interra Realty is a Chicago-based commercial real estate services firm that delivers integrated, tailored solutions through its boutique, client-focused approach and team of experienced professionals. Since its inception, the firm has closed thousands of transactions valued in excess of $2 billion spanning the multifamily, office and retail sectors, as well as loan sales. Interra’s clients range from private investors and high-net-worth individuals to large financial institutions, private equity groups and hedge funds. For more information, visit www.interrarealty.com