Multifamily N Illinois
Mark Parrell;Equity Residential

Equity Residential CEO Neithercut to retire at year's end

Chicago-based multifamily acquisition, development and management firm Equity Residential announced key executive management changes as part of its succession planning program. David J. Neithercut, 62, the company’s president and chief executive officer since 2006, will retire as CEO on December 31, 2018, at which time Mark J. Parrell will be appointed CEO and join the company’s board of trustees. Neithercut will remain a member of the board following his retirement.

Multifamily N Illinois
The multifamily properties with the greatest investment potential

The multifamily properties with the greatest investment potential

Looking to identify the nation’s most statistically undervalued multifamily properties, Enodo, an automated underwriting platform for multifamily real estate, recently applied its price and cap rate prediction algorithms to a database of 1.7 million assets. The properties identified by the research are statistically underpriced for their respective markets, and rents in these properties can be raised by as much as 20 percent with minimal loss of occupancy.

Multifamily N Illinois
Magellan and Lendlease update Lakeshore East proposal

Magellan and Lendlease update Lakeshore East proposal

Sent back to the drawing table by resident feedback, the developers behind a new expansion in Chicago’s Lakeshore East development offered an updated vision at a community meeting last night. The new scheme keeps the original building heights unchanged, but excises a planned hotel in lieu of additional residential units. Other modifications address security, landscaping and sight lines.