CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today released its Q2 2026 Suburban Chicago Multifamily Sales report. Among other findings, the firm reported that total sales volume increased by more than 67% year over year as investors chase larger deals.
Data was collected by Interra’s suburban multifamily investment team of Managing Partner Patrick Kennelly, Managing Partner Paul Waterloo and Associate Andrew Stassi. The report tracked all multifamily sales in Chicago’s suburbs between $1 million and $50 million between January and June 2026.
“Sales activity so far this year demonstrates the growing importance of higher-value deals in the multifamily investment market,” said Kennelly. “Suburban Chicago apartment buildings benefit from strong renter demand, limited new supply and stable occupancy, and these fundamentals help attract capital to large, well-located properties.”
The Chicago suburbs recorded $750.8 million in total sales volume for deals in the tracked price range. This is a 67.8% increase over 2025’s first-half total of $447.3 million. Total sales increased as well, though not as robustly, as there were 126 suburban multifamily transactions during the first half of 2026 compared with only 107 at this point last year, an increase of 17.7%.
This discrepancy suggests capital continues to pursue larger, higher-conviction investments. Interra tracked 11 sales in the $25 million to $50 million range in the first half of 2026, accounting for 8.6% of total sales but 52% of sales volume. There were only three suburban deals all of last year within that price range. This activity is driven almost exclusively by local investors as there were only two out-of-state buyers in the first half of 2026, compared to 12 at this point last year.
More than half of all property sales (57.1%) occurred in Cook County, followed by DuPage County (22.2%) and Lake County (7.9%). Kane County notched the largest average deal size of the first half with $7.9 million, against a $5.9 million average for the suburbs as a whole.
Across all sales tracked by Interra, the average price per unit grew modestly by 1.0% comparing the first half of this year with that of 2026, rising to $159,313. A total of 4,713 units traded across the suburban multifamily market during this time, up 66.1% from the first half of 2025.
Limited new supply continues to position the Chicago area among the nation’s top 10 markets for rising rents, according to RealPage data. Although moderated from last year’s peak levels, the market’s 2.9% rent growth remains strong. The Chicago MSA is also tied for one of the lowest annual inventory growth rates among the top 10 rent-growth markets, at just 0.4%.
“Despite several new projects coming online soon in the suburbs, the timing of those deliveries and elevated construction costs could limit how quickly new supply eases rent pressure,” said Kennelly. “As a result, we expect continued demand for vintage, established properties across the region.”
As a leader in middle-market multifamily brokerage across the Chicago market, Interra closed 26 suburban transactions in the past 12 months. These include the $23 million sale of 20West, a six-story, 71-unit rental community in Mount Prospect; the $7.9 million sale of a nine-building, 36-unit rental townhome portfolio in Batavia; the $2.34 million sale of an 18-unit property at 9822 Nottingham Ave. in Chicago Ridge; and the $2.2 million sale of 329 and 333 W. Hawthorne Circle, a two-building, 12-unit portfolio in Mount Prospect.
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 $3 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