Crain's Chicago / February 27th, 2017
Crain’s Chicago reports: Chinese investors poured more than $2 billion into Chicago real estate the past two years after flying over the city forever. Yet just as Chicago finally is on the radar in China, two forces may keep more investors from landing here: President Donald Trump’s tough talk toward their country and China’s own tighter controls on money leaving the nation.
“It would be a huge lost opportunity for Chicago” if Chinese investment were to slow, says David Carlins, president of Chicago-based Magellan Development Group, which has Chinese partners on several projects. “I think Chicago is on the tipping point of being recognized as a large opportunity for Chinese investment.”
From 2010 to 2014, Chinese investors spent a paltry $442 million on commercial real estate in metro Chicago, according to Real Capital Analytics. Then in 2015 and 2016, they bankrolled five times that much—$2.2 billion. And that excludes ground-up developments, which are not tracked by the New York-based firm.
View the full article on Crain’s Chicago: Will Chinese Investors Still Love Chicago Tomorrow?