In 2020, when the pandemic hit, thousands moved out of downtown Chicago, leaving apartment buildings with their lowest occupancy rate in decades. Some buildings offered up to 4 months free rent to lure renters back. Apparently, it worked. Those deals are long gone now. According to Integra Realty Resources, downtown apartment occupancy rates jumped to […]
The pandemic is bringing a lot of work/life changes, including work-from-home. Downtown Chicago, especially the Loop, has historically been dominated by commercial office buildings and retail, but over the past 30 years there’s been a push to move residential into the neighborhood. In the 1990s, old commercial buildings were converted into condos or apartments, but […]
The October sales numbers are out from the Illinois Association of Realtors and the market continues to remain strong, with the second highest October sales since 2006. In the city of Chicago, home sales (single-family and condominiums) in October 2021 totaled 2,417 homes sold, down 5.9 percent from October 2020 sales of 2,568 homes. The […]
The Illinois Association of Realtors is out with the September sales data. Sales declined year-over-year in Chicago, the Chicagoland area and in the state. However, last year was the hottest September in the last 14 years. In the city of Chicago, home sales (single-family and condominiums) in September 2021 totaled 2,611 homes sold, down 0.9 […]
The Illinois Association of Realtors is out with the August sales data. The market cooled from last year’s 4-year high. Chicago home sales (single-family and condominiums) in August 2021 totaled 2,831 homes sold, down 1.4 percent from August 2020 sales of 2,870 homes. In the city of Chicago, the median price of a home in […]
Last year, the story line being told about all the major cities, was that “the city” was doomed due to COVID fears, the BLM protests and riots and the ability of the professional workers to work-from-home, including working from anywhere in the country. In Chicago, downtown condo sales, and prices, plunged and the rental towers […]
The July data is out from the Illinois Association of Realtors and July continued the hot streak in Chicago’s housing market. In the city of Chicago, home sales (single-family and condominiums) in July 2021 totaled 3,273 homes sold, up 17.2 percent from July 2020 sales of 2,793 homes. The median price of a home in […]
The Sun-Times took a look at the soaring single family home prices in the neighborhoods this week and wondered whether the middle class would be able to stay in Chicago and buy a home. From the Sun-Times: “It’s heartbreaking to an extent that even someone like myself is being priced out of the area as […]
The bull housing market just keeps charging along in Chicago as inventory remains tight and buyers are still in the market in decade high levels. From the Illinois Association of Realtors: In the city of Chicago, home sales (single-family and condominiums) in June 2021 totaled 3,767 homes sold, up 81.8 percent from June 2020 sales […]
While Chicago housing sales have jumped to 15-year highs city wide, one of the slowest neighborhoods has been downtown. Downtown was the epicenter of the looting/protests and pandemic shutdowns over the last year with many restaurants and retail stores shut or boarded up during this time. Was it “over” for downtown? How many years would […]