The new 22-story River North tower that is planned to replace the Chicago institution of kitsch, Ed Debevic's, is moving forward.
The Chicago Plan Commission approved the plan for the tower last week. From JDL development the tower will include 251 apartments and 12,000 square feet of retail space. It's designed by Hartshorne Plunkard Architects.
For more renderings, head over to Curbed Chicago here.
July's data is in from the Illinois Association of Realtors and home sales in the Chicago metro area surged, totaling 12,834, a 9.6 percent year-over-year increase.
In Chicago itself, sales rose 9.7 percent to 2,989 with the median price up 5.3 percent to $285,000.
The suburbs faired well too, with a home sales rise of 9.2 percent and median price increase of 3.2 percent. Pending sales are also up.
For more, head over to Chicago Agent Magazine here.
According to the latest data, cash sales continue to decline as an overall percentage of the market in Chicago.
The report, out from CoreLogic, also shows that cash sales have dipped below the national average for the city for the month of May. Nationally, cash sales made up 31.9 percent of all sales, down from 35.1 percent. Before the economic crisis, cash sales were approximately 25 percent of the market.
In Chicago, cash sales account for 30.2 percent of the market. The movement is a sign of continuing health for the local housing market and means good news for financed and particularly first-time buyers are stiff competition from cash buyers has kept them out of the market in recent years.
For more, including some nifty graphs, head over to Chicago Agent Magazine here.
New construction is at an eight-year high according to a new report from the U.S. Census Bureau.
Housing starts this year are at a total of 641,000, the strongest annual number since 2007. In July, housing starts represented a 10.1 percent increase.
You can read more at Chicago Agent Magazine here.