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This Week in Chicago Real Estate: New townhouse development in West Loop, bungalow renovation controversy and more

by Rachel Popa

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Did you miss out on any of this week’s top real estate news? Notable news this week included plans of a new townhouse development for the West Loop and controversial changes to a historic Chicago-style bungalow.

Just in case you missed it, here is a recap of this week’s top stories:

New townhouse development planned for West Loop – Yet another townhome development is set for the West Loop, this one with a very high price tag. Curbed Chicago has the details here.

Columbia College is looking to sell Johnson Publishing headquarters – Nearly six years after buying the old Johnson Publishing headquarters, Columbia College is now putting the building up for sale. Read the full story at ChicagoBusiness.com.

Battle over a rehabbed Portage Park bungalow – A Chicago developer has made controversial changes to historic bungalows, and long-time residents of the city are none too happy. Get the low down on the feud between the developer and the residents at Chicago Real Estate Daily.

High-end home surplus creates buying power – Is the luxury housing sphere becoming a buyer’s market? A new analysis from The Wall Street Journal finds that with luxury inventory rising, buyer bargaining power has strengthened. Get the details here.

Low mortgage rates have little effect on applications – Although mortgage rates were down last week, mortgage applications still declined, according to the Mortgage Bankers Association. Head on over to the MBA’s website to read the full survey.

How much are buyers willing to pay for walkability? – A new report finds that walkable urban spaces command dramatically higher prices for commercial and residential real estate. Realtor magazine has the full story here.

Purchase mortgage demand is expected to grow – A new survey from Fannie Mae finds that lending standards will remain high in 2016. Read the complete report from Fannie Mae here.

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