chi-MidpointeApartments (2) Midpointe Apartments in Chicago’s Mt. Greenwood neighborhood recently sold for $49.5 million.

CHICAGO—The US multifamily market has been in the midst of a years-long boom, and demand is still robust. But in a year that could bring changes, especially when it comes to interest rates, potential sellers in the Midwest have taken a step back and hesitated to put their properties on the market.