Chicago MSA Multifamily Market Report

May 2026 Sales Analysis

May 1 – May 31, 2026

Executive Summary

The Chicago MSA multifamily market recorded 110 transactions in May 2026, representing $538.4 million in total sales volume. The market demonstrated strong fundamentals with a median sale price of $1.60 million. Price per square foot averaged $216, with 3,505 units changing hands across the Chicago metropolitan statistical area. View available properties.

Data Source: CoStar Group – Commercial real estate information and analytics provider

What was the total transaction volume for Chicago MSA multifamily in May 2026?

The Chicago MSA multifamily market recorded $538.4 million in total sales volume across 110 transactions during May 2026, according to CoStar data.

What was the median sale price for multifamily properties in the Chicago MSA?

The median sale price was $1.60 million per property in May 2026 across the Chicago metropolitan statistical area.

Which submarkets had the highest multifamily sales volume in the Chicago MSA?

The top submarkets by volume were O’Hare ($167.0M), South Loop ($103.5M), and Southern Cook County ($55.0M), based on CoStar transaction data.

What was the average price per unit for Chicago MSA multifamily properties?

The average price per unit was $153,600 across 3,505 total units sold in the Chicago MSA during May 2026.

How many multifamily units were sold in the Chicago MSA in May 2026?

A total of 3,505 multifamily units changed hands across 110 transactions in the Chicago MSA market during May 2026, according to CoStar Group data.

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Data Source: CoStar | Report Date: June 7, 2026 | 110 Transactions Analyzed