Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

Chicago is already known as a highly walkable city, but the new construction in the city is more walkable than the city's average. 

The city's current average "Walk Score" is 78 and the latest numbers show that new construction is averaging a score of 89.

Chicago is currently among the six most walkable cities in the country.

Read more at Curbed Chicago here.

Even with the recent record tax increase, homeowners in Chicago still pay less in taxes than nearly every one of the city's suburbs.

WTTW's Chicago Tonight recently aired an interview between Phil Ponce and journalist Dennis Rodkin to discuss the impact of the property tax increase on homeownership and Rodkin noted that the city's robust downtown properties, as well as its still-significant manufacturing base, continue to help offset the tax bills of average home owners.

Listen to the whole interview at Chicago Tonight's website here.

Despite the large amount of ink that has been spilled arguing about Chicago's apartment building boom, new data shows that the city ranks 14th nationally and is far behind many other cities in construction.

RentCafe concludes that the city will see 8,377 new rental units completed this year, most in the downtown area. That compares with more than 25,000 in Houston, the city leading the list. It's followed by another Texan city, Dallas, with just over 23,000 units and New York, with just under 21,000.

Read more at Curbed Chicago here.

According to the latest stats, Highland Park was the Chicago area's top luxury housing market for the second quarter of 2016.

The average sale price in that segment was $2.16 million, a more than 40 percent increase over the previous year. Barrington and Hoffman Estates also saw big increases in their luxury segment, 40.5 perent and 30.4 percent respectively.

Read more at Chicago Agent Magazine here

Recently released data shows that housing construction in the Chicago metro area is at a seven year high.

A report out from Metrostudy shows that housing starts in Chicagoland reach a high of 6,250 during the year, ending with the second quarter of 2016, a figure that indicates a 5.6 percent increase and the best showing in new construction for this market in the last seven years.

The counties of Cook, Kane, Will and Indiana's Lake County represented the lion's share of the activity, with 72 percent of all new housing starts.

Read more at Curbed Chicago here.