Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

Chicago is, by far, the top luxury market for communities in the metro region when measured in home sales exceeding $1 million in 2016.

So far this year, the city has sold 820 listings above that price point, ahead of its nearest competitor, Winnetka, with 123. In third place was Hinsdale with 121 sales and Wilmette with 98.

Read more at Chicago Agent Magazine here.

Two markets in the city of Chicago topped the list of top luxury markets for the metro area, beating out many of the most expensive North Shore markets.

In the third quarter of the year, Streeterville saw 70 sales at or above $1 million, edging Lincoln Park, with 62. Streeterville's average sale price rose 16.1 percent compared with a .4 percent decline for Lincoln Park.

Bringing up third place was Winnetka, which saw 58 total sales above the $1 million price point and an average price increase of 2.1 percent.

Read more at Chicago Agent Magazine here.

Now known as "Elevate," a new project in the beautiful Lincoln Park neighborhood officially broke ground. When completed, it will add nearly 200 apartments to the area.

Designed by Chicago's SCB and built by Baker Development Corporation, the project was officially permitted to begin work at the site at 2518-49 N. Lincoln Avenue in September. 

When completed it will bring more than 16,000 square feet of new retail space to the area.

Read more at Curbed Chicago here.

Chicago is one of the top metro markets to watch in 2017, according to a survey of more than 500 real estate professionals conducted by the Urban Land Insitute at PwC.

Praise for the local market among these professionals includes employment growth, relative affordability and a stable residential real estate market.

The reported concluded that Chicago ranked number 19 among all metros and that it was a great opportunity market for families and investors, particularly the latter.

Read more at Chicago Agent Magazine here.