Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

Six new skyscrapers are set to change the face of Chicago forever.

Rising over 800 feet, these building will be new and defining edifices in the skyline. Three of them are already under construction, the Vista Tower, One Bennett Park and One Grant Park. Three more, Wolf Point South, 1000M and 110 N. Wacker are already approved by the city.

Read more at Curbed Chicago here.

One of the city's largest developments in one of its most popular neighborhoods has just released some updated renderings offering the closest look at it ever.

Following the ground-breaking earlier this month, The Lincoln Common, a 1.1 million square foot mixed-use project that will replace the former Children's Memorial Hospital in Lincoln Park, shows new renderings offering a detailed look at the ground level of Lincoln Avenue and revised architecture for its two residential towers.

The 6-acre site will ultimately feature two 20-story residential towers and 105,000 square feet of retail space. 

Read more at Curbed Chicago here.

The newest skyscraper that will change the city's skyline has officially obtained all its permits.

The Vista Tower, a Studio Gang-designed super-tall that will eventually rise 95 stories to become the city's third largest building received their final construction permit and is moving along now at full speed.

The 1,186-foot tower will eventually feature 406 luxury condos, a 192-room hotel and retail space. It is expected to cost more than $1 billion to build. It's expected to be fully completed by 2020.

Read more at Curbed Chicago here.

This week, as brokers from Urban Real Estate joined thousands of involved REALTORS from across the country on Capitol Hill to inform legislators about the importance of preserving pro-consumer homeowner actions, lending programs, and flood insurance, the National Association of REALTORS chief economist, Lawrence Yun, shared his insights with Housing Wire, including that of impending increases on rents and home prices.  Yun says the "intensifying housing shortage will push up home prices and rents, and easily above wage growth and the broad consumer price inflation." 

Read more here.

Nationwide home prices in metro areas increased for the third consecutive quarter, according to the National Association of Realtors.

The median price for existing single family homes rose 6.9 percent, an increase from $217,200 to $232,100 since the first quarter of last year. It's also the fastest pace of growth since the fourth quarter of 2015.

Total existing home sales were 5.72 million in the first quarter, also an increase from the previous year, up 1.4 percent.

Read more at Chicago Agent Magazine here.