Chicagoans paid more in rent in 2014 than ever before. According to numbers from Zillow and a recent report from the Chicago Tribune, landlords in Chicago raked in more than an additional billion dollars in 2014.
The figures reported by the Tribune showed that rents were up 7.4 percent to a total of $14.3 billion. Nationally the numbers showed landlords took in $441 billion, an increase of $20.6 billion over 2014.
Read the full report from the Tribune here and Zillow here.
The South Loop will be receiving another 200 apartments or so and a parking garage is set for demolition.
The new tower, according to Crain's, will be located at the corner of Clark and Harrison and will be 24 stories tall with 202 rental units and 3,000 square feet of retail space at the street level.
The tower is designed by Thomas Roscak. For the full report, head over to Crain's here.
We don't play favorites at Urban Real Estate but our hat is off to Logan Square, the Curbed Cup winner of best neighborhood in the city for 2014.
Logan Square has certainly seen a lot of change in 2014 and while we were pulled for the Loop, we're happy to at least tip our virtual hat to the northwest side neighborhood.
Check it out at Curbed here.
And while you're visited Curbed, it's the time of the year for wrap up stories. They have two interesting ones worth reading.
The first, is their opinion of the most dramatic architectural and real estate stories of 2014. You can check that out here.
The second, is the most controversial stories. You can read those here.