Teardowns on the Rise in Chicago

Posted by Leo Clark. on Thursday, February 12th, 2015 at 10:21am.

An article in Chicago Magazine about teardowns caught our eye yesterday, and although much of it had to do with the suburban Chicago real estate market, we're seeing a similar trend in many neighborhoods across the city as well.

Less than a decade ago, teardowns in both Chicago and its suburbs were fairly common, however, due to the widespread real estate bust that started back in 2008, construction slowed and new development almost went away completely.

Today, it seems the Chicago real estate market has fully recovered and so too has the new construction industry. Developers are demolishing old houses all over the Chicagoland area, and here in the city, neighborhoods like Lakeview, Lincoln Park, Roscoe Village, Bucktown-Wicker Park, and even Logan Square are undergoing a transformation unlike anything we’ve seen for quite sometime.

Back in September, Curbed Chicago reported that Lakeview, West Town, and North Center lead the way for teardowns in the city, and that roughly 1,700 homes around Chicago have been torn down by builders since 2006.

So whether you embrace new development or despise it, it looks as if a new era of teardowns is upon us, and regardless of where you live in Chicago, the trend of replacing old homes with something newer seems to be back in full force.


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