CRAIN'S: Near North, West Town, Lincoln Square Labeled the Hottest Neighborhoods So Far in Early 2017
Posted by Leo Clark. on
If you’re looking for a quick update on how the Chicago real estate market fared over the first few months of 2017, Crain’s recently outlined which parts of the city have been the hottest so far in the new year. With mortgage rates still low and available inventory also scarce throughout many parts of the city, the Chicago real estate market has been especially kind to sellers, especially in a few familiar neighborhoods.Â
According to Crain’s data, which only included neighborhoods with at least 25 sales during the first quarter of 2017, the Near North Side, West Town, and Lincoln Square rounded out what’s viewed as being the three hottest neighborhoods for condos and townhouses in the city right now, which is somewhat surprising in some ways. While…
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As commercial development continues to transform Chicago’s West Loop and Fulton Market neighborhoods, developers are also planning more apartments to serve what will inevitably be a substantial influx of people wanting to live nearby.Â
The glassy new tower proposed for 1326 S. Michigan has officially received the “okay” from the city to begin construction, according to a new report out from Curbed Chicago that also outlines only the foundation permits have been issued to this point.Â
Construction has officially wrapped up and apartments for rent at AURÉLIEN are now leasing! As one of the hottest new apartment towers to hit the Gold Coast rental market, AurĂ©lien provides a living experience unlike most buildings found throughout the Downtown landscape.Â
In case you haven’t noticed, Chicago’s Uptown is transforming into one of the city’s most distinguished up-and-coming neighborhoods. Along with a number of large scale residential projects either already underway or currently being discussed, plans for another apartment project were just recently revealed that will only add to the neighborhood’s future appeal.Â
One of Downtown Chicago’s most expensive condos has been re-listed and is now asking $12.5 million—a reduction of $200,000 off the original asking price of $12.7 million when the unit first hit the market last September.Â
While some of Downtown Chicago’s new apartment towers may seem pricey on the surface, a new report from RENTCafĂ© shows the Windy City is actually pretty affordable compared to other top financial markets across the globe.Â
While Chicago’s real estate market has been off to a fast start in 2017, the luxury market in 2016 actually cooled off a bit compared to a year prior, at least when it comes to the region’s priciest homes. Â