Get ready Gold Coast... JDL Development is about to begin construction on one of the city's most expensive condo developments.
The tower, No. 9 Walton, was issued a building permit this week to begin constructing the foundation and first floor. Clad in stone and designed by Hartshorne Plunkard, the tower will eventually be 35 stories tall, but with only 66 units total. Prices will range from $1.95 million up to $12.5 million.
The tower should be complete by summer of 2017.
For more, head over to Curbed Chicago here.
Down payment sizes in Illinois have been declining this year, a positive sign that first time home buyers are returning to the market.
According to Lending Tree, the average down payment size in the state is now 17.02 percent, down from 17.32 in the first quarter.
But it's still high for the nation as a whole. Illinois currently ranks 13th for the overall size of down payments in the nation.
For more, head over to Chicago Agent Magazine here.
According to the latest report from CoreLogic, home prices in the Chicagoland area are up 3.3 percent this year.
The report, which compared pricing year-over-year in June included distressed sales. When those sales are removed the news is even better, with a 4.3 percent increase.
Anand Nallathambi, the president and CEO of CoreLogic, told Chicago Agent Magazine: “The current cycle of home price appreciation is closing in on its fourth year with no apparent end in sight. Pent-up buying demand and affordability, together with higher consumer confidence buoyed by a more robust labor market, are a potent mix fueling a 6.5 percent jump in home prices through June with more increases likely to come.”
Read more here.
We often release data on a month-to-month basis and make comparisons year-over-year, but with half the year in the rear-view mirror, the top-selling suburbs show that the leaders are practically untouchable.
The top-selling suburb for the first half of the year is Naperville with 1,252 total sales, just nudging Aurora with 1,222 sales. In a distant third place is Plainfield with 789, edging out Elgin by only three sales.
For all the numbers, head over to Chicago Agent Magazine here.