Developers have flooded Chicago city hall in the last 30 days with new residential projects.
Last month 40 plans for new projects were submitted to the city, a 46 percent increase from the previous month.
The surge in applications was certainly prompted, at least in part, by a new Affordable Requirements Ordinance that will require additional affordable units in each project submitted after Sept. 24, 2015 but it isn't just that.
It's also "a strong indicator of confidence in the Chicago real estate market," Peter Stazzabosco, spokesman for the city's Department of Planning and Development told DNAinfo Chicago.
For more, head here.
While the highest-volume neighborhoods tend to be the same, lining up well with the neighborhoods with the highest condo inventory.
But when you consider other variables like time on the market and highest sale price versus list price, the list of neighborhoods changes considerably.
Last month the city's most competitive market was Mount Greenwood with only seven days on the market. The West Loop and McKinley Park at eight days and Wicker Park with nine.
Little Village and Archer Heights both saw sale prices that exceeded lists, while eight other neighborhoods exceeded 97 percent of list price in sales.
For more, head over to Chicago Agent Magazine here.
It's no secret that Chicago is in the midst of a serious skyscraper building boom. In fact, there are 21 high-rises under construction in the city today.
That's an increase from one year ago when there were 14 towers under construction.
Curbed Chicago has a map of the construction activity. To see it, head here.
But when you consider other variables like time on the market and highest sale price versus list price, the list of neighborhoods changes considerably.
Last month the city's most competitive market was Mount Greenwood with only seven days on the market. The West Loop and McKinley Park at eight days and Wicker Park with nine.
Little Village and Archer Heights both saw sale prices that exceeded lists, while eight other neighborhoods exceeded 97 percent of list price in sales.
For more, head over to Chicago Agent Magazine here.
It's no secret that Chicago is in the midst of a serious skyscraper building boom. In fact, there are 21 high-rises under construction in the city today.
That's an increase from one year ago when there were 14 towers under construction.
Curbed Chicago has a map of the construction activity. To see it, head here.