Two new towers are proposed for a strip of retail in the Clybourn Corridor of the popular Lincoln Park neighborhood.
Developers are hoping to build two rental towers just off Clybourn, at 901 W. Weed St. The site is currently home to a strip of retail but the towers would add 407 new rental units to the area.
For more, head over to Curbed Chicago here.
Image via Curbed.
Cash sales, which dominated the market during the economic recession, are nearing normal levels in Chicago, according to a new report.
CoreLogic reported this week that cash sales in Chicago were at 27.9 percent in June, their lowest level yet and near the long-term trend line of about 25 percent. They declined 5 percentage points year-over-year.
Chicago is also doing better than the national average of 31.3 percent of total cash home sales in June. That is a decline from the high of 46.5 percent in January of 2011.
CoreLogic forecasts that the percentage will reach its normal level by the middle of 2017.
For more, head over to Chicago Agent Magazine here.
The numbers for August are in and the top-selling neighborhood in the city of Chicago was, unsurprisingly, the Near North Side.
The popular neighborhood with abundant condo options made a total of 266 sales as the summer wound down. It was followed by Lincoln Park with 175 and West Town with 166.
Home sales volume for the city was up 6.3 percent but the top neighborhoods saw declines in volume with the close of warm weather. The Near North Side, while still at the top of the heap, saw a decline of 24.2 percent from the previous month.
For more, head over to Chicago Agent Magazine here.
Homes prices in Chicago edged up again in July according to the latest figures.
The S&P/Case-Schiller Home Price Index reported that Chicago saw a modest increase of .9 percent from the previous month, beating the national average increase of .7 percent.
On an annualized basis prices are up 1.8 percent.
Read more at the Chicago Tribune here.