Anyone can see that downtown Chicago's skyline is dotted, not only with a great many tall buildings, but, recently, a series of towering cranes.
At a ground-breaking today to celebrate the high-rise project "One Bennett Park" at 451 E. Grand Ave., Mayor Rahm Emanuel said that the crane for that building is the 48th to operate in Chicago this year alone...
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...
Now known as "Elevate," a new project in the beautiful Lincoln Park neighborhood officially broke ground today. 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...
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 numbers are in for the top-selling neighborhoods in Sept. 2016 and, once again, some familiar names top the list.
The Near North Side was first with 261 total sales, a 5.24 percent increase year-over-year. It was followed by West Town with 151 sales, though that represented a 6.79 percent decline, and Lincoln Park was third with 131 sales, with a 12.31 percent year-over-year increase.
In the top ten, two neighborhoods experienced big year-over-year jumps...
Buyers are getting a sneak peak at Belgravia Group's new "Renelle on the River" condo project, planned for a site just north of the Trump Tower.
The building, designed by Chicago's bKL Architecture, will reach a relatively modest 18 stories and include 45 three and four bedroom condos ranging from 2,200 square feet to 3,400 square feet. Prices will start at $1.5 million and rise as high as $3.2 million...
New construction in Chicagoland is so hot that it's leading the nation.
According to a report from Dodge Data & Analytics, the region saw more than $446 million in residential construction spending in September, a 13 percent increase from the previous year. The annual total is now at $5.948 billion, a 72 percent increase from last year and the largest year to date growth of any large metro area...
In Chicago, buying a home beats renting by a wide margin, according to the latest data.
Real estate website Trulia compared the median home price in the area with the median rent and found that owning is 36.9 percent cheaper than renting. For that balance to tip, either the price of houses would have to rise 65 percent or mortgage rates would have to rise 181.4 percent.
For a city-by-city comparison, head over to Chicago Agent Magazine here .
Good news for homeowners in this month's S&P Case-Shiller Home Price report: Chicagoland home prices continued the summer's positive momentum, up .5 percent from July through August and up 4.1 percent since August 2015. The last time the annual increase was that high was in July 2014.
Additional good news is that Chicago's home prices have beaten other major cities for the past several months, indicating the local market is gaining strength.
Nationally, prices rose 5.
With Halloween right around the corner, you might be wondering, which neighborhoods are the best for the annual rite of Trick-or-Treating?
Chicago Agent Magazine has the answers. Zillow surveyed cities across the nation and determined that Chicago ranked 18th and the city's best neighborhood was West DePaul.
For the full rank of Chicago's best trick-or-treating neighborhoods, head here ...
Chicago Agent Magazine recently delved into the market data for the city and its suburbs and came up with some important details to note.
• Sales are flat: across the region they increased only .1 percent year over year as of September.
• But prices are up: across the region, the median home price rose 5.1 percent.
• Results varied widely by County: Kane and McHenry price increases were the highest...
A new South Loop tower that will change the skyline is officially headed for a ground-breaking.
The city of Chicago has issued permits for foundation work at 113 E. Roosevelt and 1200 S. Indiana. The building is designed by architect Rafael Viñoly and will rise more than 800 feet tall.
It will ultimately include nearly 800 apartments in the booming area just south of Grant Park.
Read more at Curbed Chicago here ...
According to the latest numbers, the North Shore suburb of WInnetka was the most expensive market in the state, with the average price of a four bedroom, two bathroom home at $840,355.
The neighboring town of Lake Forest came in second with West Suburban Hinsdale in third.
The top ten markets were all mapped out at Chicago Agent Magazine here .
Chicago-based Urban Real Estate (Urban) recognizes partners, Michael Emery and Matt Silver, as two of a distinguished few brokers who have been appointed to represent the state REALTORS® trade association, Illinois REALTORS®, and work closely with foreign consulates to promote real estate in Illinois...
Mortgages have been difficult to aquire since the years of the real estate bubble, largely due to strict adherence to requirements laid out by the banking industry to avoid a repeat of those mistakes.
But mortgage giants Fannie Mae and Freddie Mac are loosening those standards to reach more credit-worthy borrowers that have moderate incomes, good credit scores, but lack the 20 percent down payments for traditional financing...
A long-time fish company is selling its property at the northwest corner of Fulton and Halsted and the new owners are planning a "flagship" retail development for the site.
Development company R2 has hired high-profile design firm Gensler to concept a new, multi-level retail space for the site that would replace a two-story building on the corner and rehab an attached four-story building located to the west...
There has been a steady drumbeat of media reports about the plight of Millennials whether its the job market, student debt or something else.
But those reports have also made it clear that the young generation has as strong a desire to purchase a house as those that have preceeded it, so the Chicago Tribune recently put together a useful article on tips for those wanting to make the plunge into home ownership...
A developer is planning 110 new apartments near McCormick Place.
3L Real Estate has purchased a five-story building at 57 E. 21st St., about a block west of a 1,206-room Marriott Marquis hotel and a 10,000-seat arena that will ultimately host DePaul University basketball games and other events.
They're planning to develop the warehouse into studio and one-bedroom apartments renting from $1,095 to $1,400 per month.
Read more at Crain's here ...
An exciting moment is here for the West Loop: the first building permits have been issued as part of the planned $500 million renovation of the vacant Old Main Post Office.
The permits, granted to owner 601W Companies and architects at Gensler, will begin repair and restoration work on the facade. In the long term, the developers plan to convert the 2.5 million square foot Art Deco building into office space with amenities like a rooftop deck and riverfront plaza...
