Marina City, the famed residential twin towers adjacent to the Chicago River in Downtown Chicago have been granted preliminary landmark status from the city.
The new status, if eventually approved by the city council, will protect the buildings from alteration but could also make a variety of tax incentive programs available to homeowners in the building.
A familiar site to Chicagoans, the Bertrand Goldberg-designed towers also graced the cover of local rock band Wilco's album "Yankee Hotel Foxtrot."
For more on the story, head over to the Chicago Tribune here.
Home sale prices continued their streak in May, increasing for the 39th consecutive month, according to a new report out from CoreLogic.
In Chicago, including distressed sales, prices increased 3.8 percent since May 2014. Excluding distressed sales, the number was 5.3 percent.
For the full report, head over to Chicago Agent Magazine here.
Inventory shortage has created a dramatic sellers' market in Chicago that is causing developers to take a second look at two-flats.
Crain's Dennis Rodkin has a report out today that several neighborhoods on the city's North Side are ground zero for two-flat to single-family home conversions. Those neighborhoods include Andersonville, North Center and Lincoln Square.
With little inventory available for single-family home buyers, developers are seeing profit in the de-conversions.
For the full report, head over to Crain's here.