We did a double take too. Since 2000, the Chicago market has delivered or renovated 55,324 units. We’re talking all classes and properties with 20 units or more, excluding student housing and affordable housing.This number speaks to a Chicago market nearing the peak of the multifamily cycle. Rents have risen sharply since the turn of the century, mirroring a national trend. With roughly 7,000 units flooding the market in the next 24 months, though, we’ll likely hit our local capacity and see new supply start to taper.