Huge rental conversion project in Chicago’s South Loop.

I am willing to make a statement, that many of us have heard the term “accidental landlords”. It applies to all people, who unsuccessfully were trying to sell their properties and eventually decided to rent them out.
And because of that situation our South Loop is currently in the early stages of a boom in rental construction*. Most of the developments build as condos are already or in a process of conversion into rentals.
Almost 400 units at 850 S Clark, is “nearing completion and construction recently began on 469 units at 1000 S Clark. Golub & Company has yet to begin construction on its planned 392 units at 901 S State”.
We have to ask ourselves an obvious question: What impact will all the new rental units have on condo resales?
Time will tell…