Another real estate developer has piled into the West Loop.
Crain's reported this week that Chicago architect Patrick FitzGerald has designed an apartment project for one of the neighborhood's hottest areas, adjacent to the new Morgan CTA stop.
FitzGerald is planning the 81-unit building at Lake and Sangamon streets just to the west of his family's Lake Street Lofts, a vintage building they converted to condos about 15 years ago. He believes demand from tech firms will drive demand for housing.
"Where are those people going to live?" he asked Crain's. "These people prefer to live, work and play in the same place."
For the whole story, head over to Crain's here.
And the city's newest residents are looking for less space - both for themselves and cars.
Chicago Magazine's Whet Moser wrote a feature last week that explored the growing trend of living small and the projects that developers are building in response. They're light on space and light on parking.
Among the projects that were cited was 1601 W. Division, the 16-story "transit-oriented development" at Division and Ashland along with several others that are planned in Chicago and other cities as well.
It's a repeat of an old cycle, one that originally drove dense development in the early 20th Century.
For the whole story, head over to Chicago Magazine here.
Finally, there's a disconnect between sellers and appraisers, though it's not a gulf.
Chicago Agent Magazine reports that Chicago-area home sellers are over-pricing their homes by about .63 percent, at least compared to what appraisers believe the houses are worth.
QuickLoans' Home Price Perception Index determined that percentage based on a study of appraiser opinions versus homeowner estimates. The gulf was larger in Chicago than the nationwide average of .4 percent.
That's a big shift, though, since last year appraisers believed houses were worth 2.16 more than homeowners believed.
For more, head over to Chicago Agent Magazine here.