How the NITA act the case for TOD stronger

Full operation of the Northern Illinois Transit Authority (NITA) begins September 1st, 2026, and at EM8 Properties we couldn't be more excited. The law brings roughly $1.5 billion a year in new operating money into the system, and riders won't see service cuts or fare increases in 2026. We hold buildings for a long time. When you're underwriting a lease-up in 2029 on the strength of a train, the durability of that train is the assumption sitting underneath every other assumption. With NITA, that's an assumption we won't have to worry about ever again.

In addition to over $1.5 billion in new state funding every year for transit, NITA better organizes the regional rail systems around Chicago (Pace, CTA, and Metra) under one roof. This will result in a universal fare system, better schedule synchronization, and improved safety on transit.

With better rail service projected in the future, we anticipate demand for multifamily properties near transit to rise, and this has already started to show up in elevated rents at our properties near transit compared to the market average.

Moreover, NITA brought more opportunities for development near transit. Local governments can no longer require minimum parking for development within a half mile of a transit hub or an eighth of a mile of a frequent transit corridor. While some might read this as a win over municipalities, we read it as a tool that can help our municipal partners. Village staff often knew the parking requirements were too high for a site three blocks from the platform. But we would still have to go through the months-long special approval process. Now that time goes to the things that create value for our residents, our municipal partners, and our investors.

Are you excited by the NITA act as much as we are? Are you a municipality looking to grow its downtown? We want to partner with you. Reach out today!