A recent report by STORAGECafé found that the Chicago metro area was 2020’s fifth most active self storage market, having added more than 1.3 million square feet to the local inventory.
The report identified the top-performing markets in terms of development activity, drawing on Yardi Matrix research data on completed projects.
In Chicago’s self storage market, new self storage construction last year slowed from the 1.6 million square feet delivered in 2019. Sixteen storage facilities encompassing a total of 1.3 million square feet came online in Chicago in 2020, accounting for 3 percent of existing inventory and 16.8 since 2016.
