The latest numbers are in and the top markets for new construction in the first quarter of 2016 in the Chicago area include mostly suburbs but one city neighborhood.
Pingree Grove had 92 total sales, a 9.1 percent increase from the previous year. Naperville followed with 60 sales, a 6 percent increase and in third was Plainfield with 50 sales, a 5 percent increase...
Chicago's inventory of for-sale homes continues to decline, suggesting a tough spring buying season is ahead, especially for first-time home buyers.
The inventory of affordable homes, defined as the bottom tier, has declined 14.2 percent in Chicago year-over-year. For middle tier homes the decline is slightly less substantial, at 4.8 percent, while even top tier homes have seen a steep decline, at 14.6 percent...
The numbers are in for March and the Near North Side has once again taken the top spot for most home sales with 204.
Following behind were West Town with 141 and the South Loop with 117.
Adjusting the numbers for single family homes only, the Northwest Side reigned supreme. Dunning took the top spot with 43 sales followed by Portage Park with 36 and Irving Park with 31.
For more, head over to Chicago Agent Magazine here .
Construction on the Vista Tower, Studio Gang's latest effort in the New Eastside is moving forward, according to a recent report in Crain's.
The supertall tower, from Magellan Development and China's Dalian Wanda Group, will be the city's third-tallest at 93 stories and 1,186 feet. It's expected to break ground as early as next month.
The tower will ultimately feature 405 luxury condos together with a hotel...
A new study shows that Chicago is one of the top metro areas in the United States for foreign buyers.
Colliers International issued a report which surveyed more than 600 investors around the world on how they're planning to spend their money and which American markets were attractive for real estate purchases.
Chicago was number five on the list, beating out Washington D.C., but trailing New York, San Francisco, Los Angeles and Boston...
Cash sales continued their decline as a share of the total market in the first quarter of 2016.
According to the latest numbers from RealtyTrac, cash buyers, those who didn't take out a mortgage, represented 36 percent of all sales in the Chicago area last quarter, a 40.4 percent decline from the previous year.
The decline in cash sales is a sign the market is returning to health...
A six-story apartment building will soon be going up in a prime location in Old Town.
Developer JAB Real Estate plans for 60 total units in the building, which will be located at 227 and 233 W. North Ave., across the street from the popular comedy club Second City. They're hoping to break ground this fall.
“We think Old Town is a really strong submarket,” JAB Principal Frank Campise told Crain's Chicago...
The U.S. Census Bureau has made it official: Millennials, those aged 19 to 35 have officially overtaken Baby Boomers as the largest generation.
While Boomers will continue to be a force in real estate for some time (they do, after all, own a great deal of real estate taken as a group) the up and coming generation of Millennials and the choices they make will reverberate through the economy for decades to come...
Suburban Chicago out-performed the city in the first quarter of 2016, with sales rising 5.5 percent from the previous year, according to the latest data.
Taken as a whole, the nine-county metro area saw a more modest increase of .8 percent year-over-year. The median sale price rose 4 percent to $210,000.
The city of Chicago saw an overall decline in the number of sales from the previous year, 3.4 percent but median price was up 3.3 percent to $268,500...
A tower, that would be the South Loop's tallest, cleared the Chicago Plan Commission yesterday, bringing it one step closer to construction.
Designed by Helmut Jahn, the 73-story tower proposed for 1000 S. Michigan would feature 506 total units split between rental apartments and condominiums, the latter on the higher floors.
The building will also have 486 parking spaces, a 13,000 square foot green roof and 2,700 square feet of ground floor retail space...
When it comes to home ownership, Millennials aspire to it just as much as previous generations. A new study suggests that for the average Millennial, they may need to save for a decade to afford the down payment for a starter home.
In a city-by-city comparison, however, Chicago is both more affordable and the data suggests that Millennials think they need a larger down payment than they actually do...
Chicago's Loop and Downtown area is among the top residential boom towns in the country, according to a new study from Realtor.com.
The study examined job growth, household formation and housing starts in zip codes across the country and 60603 zip code rated number 9. The next five years are expected to see household growth of 18.9 percent with 6,000 total housing starts and 38,000 new jobs...
Mortgage bankers are anticipating a new wave of borrowers in coming years due to a pent-up demographics boom.
Millennials and minorities will drive new housing formations over the next ten years, with 1.2 million new households expected each year, according to David Stevens, a former federal housing official who now leads the Mortgage Bankers Association...
Lincoln Park took the crown as the top-selling luxury market in the city through March, edging out the previous leader, the Near North Side.
While both neighborhoods had 18 sales of homes priced over $1 million, Lincoln Park had a much higher average price of $2.45 million versus the Near North Side's $1.85 million.
Rounding out the top five in order were North Center, Lakeview, West Town and Logan Square.
Read more at Chicago Agent Magazine here .
There are new renderings out for downtown's latest amenity, the redesigned Maggie Daley Park restaurant.
The park is already one of the most popular hang-outs downtown, featuring a one-of-a-kind playground, skating ribbon and climbing wall. Chicago-based Four Corners Tavern Group hopes to open a restaurant at 352 E. Monroe St.
The restaurant would be 8,000 square feet with 240 outdoor seats and 120 inside...
One study after another has suggested that the Millennials show a marked preference for city living over the suburban alternative but the latest numbers are showing a decline in the number of Millennials buying in cities.
According to a new survey from the National Association of REALTORS® (NAR), the share of Millennials buying in urban areas has declined from 21 percent a year ago to 17 percent now...
The Chicago area luxury market has been heating up and new data shows that the area is among the hottest in the nation.
According to a report in Chicago Agent Magazine, sales of homes priced above $1 milllion totaled 1,149 in Chicago last year, a 12 percent increase, the seventh-higest in the nation. And this year there are 735 active listings above $1 million.
In absolute terms, only one market had more luxury sales than Chicago, San Diego with 1,165 total sales...
The latest numbers are in from CoreLogic and the housing market continues it's climb this spring.
“Home prices continue to rise across the U.S. with every state posting year-over-year gains during the last 12 months,” said Anand Nallathambi, president and CEO of CoreLogic.
In Chicago, price gains outpaced the state, rising 3.1 percent year-over-year as of February. The state's gain was 2.5 percent...
This year will be the best year for housing in a decade, according to Freddie Mac. Aside from the long-term trends that have seen housing return to normalcy, Freddie Mac identified five things that will make 2016 the best since 2006.
• Low mortgage rates: Though rates rose in late 2015, they've since declined to just before 4 percent for a 30-year mortgage...
Chicagoland is seeing a boom in new construction spending according to the latest numbers available from Dodge Data.
February saw residential construction spending of $195 million, a 13 percent increase from the previous years, making the year-to-date spending $606 million, a 94 percent increase from the same period in 2015. That jump is among the strongest in the nation.
Those numbers should be even more encouraging in the months to come. The U.S...
