Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

Uptown may soon be home to a new transit-oriented development.

Ald. James Cappleman is working with developer Clayco on the project, which would bring a new, 8-story building with 147 units to 975 W. Wilson Ave., currently a vacant lot. It would include 29 parking spaces and 7,000 square feet of ground floor retail space. 

Read more at Curbed Chicago here.

According to the latest data, total number of sales and median prices were largely up across the city in 2016.

For the nine-county area, the median sale price was $222,500, a six percent increase from 2015. For Chicago alone, the price was up 4.2 percent to $272,000.

Sales volume was also up. The region saw a 4.3 perent increase to 116,500 sales while the city saw a total of 28,033 sales, up 1.9 percent.

Crain's breaks down the data with charts and maps here.

Chicago is in the midst of a building boom - developers are changing the skyline both downtown and in the neighborhoods.

At the moment, the city has 44 high-rises under construction including towers like One Grant Park, Solstice on the Park, and the Vista Tower. But there are more planned for Lincoln Park, Hyde Park, Lakeview, and the West Loop.

Curbed Chicago rounded them all up this month and put together a great map. 

You can check it out here.

With the final numbers in for the year it should come as no surprise which three suburbs were the top-selling, but Naperville took the top spot.

The popular western suburb saw a total of 2,765 sales last year, a 9 percent increase over 2015. It was followed by Aurora which had 2,642 sales, up 9.49 percent and Plainfield with 1,813 sales, up 7.53 percent.

Another suburb which saw a big jump was Palatine - while it doesn't approach the same level of total sales as the big three, its total of 1,290 sales represented a strong, 9.23 percent increase over the previous year.

Read more at Chicago Agent Magazine here.

The final numbers for 2016 are in and Chicago's top-selling neighborhood was the Near North Side which, despite a sales decline of 1.5 percent, saw a total sales volume of 2,737.

This far exceeded the next most popular neighborhood, West Town, which had 1,887 sales, a 7.52 percent increase from the previous year's 1,755. In third place was Lincoln Park, with 1,616 sales, a 7.95 percent increase over the previous year's 1,497 sales.

The neighborhood that saw the biggest increase in sales volume was Logan Square, which had an impressive increase of 42.93 percent, a total of 809 sales in 2016 compared with 506 in 2015.

Adjusting for single-family home sales only, the top three neighborhoods were Portage Park, with a big 17.08 percent increase to 473 sales, Ashburn with a 5.38 percent increase to 470 sales, and Dunning with a 10.62 percent increase in sales to 405.

To read more, head over to Chicago Agent Magazine here.