At the same time, completions of new single-family homes were on the rise last month, according to federal statistics. 

The project will offer a total of 294 rental residences — 245 apartments and 49 rental townhomes — and 13,000 square feet of commercial space. 

Two years ago, Dawn McKenna Group made a key investment in its future: the creation of a dedicated division to support the growing demand for new-construction sales. That decision positioned the company to continue to scale nationally and internationally

For real estate agents eyeing a leap into new construction and investing, Joe Kotoch, a seasoned Chicago-based real estate strategist, offers a road map built from years of hands-on experience.

The View will bring 573 apartments to the 310-acre super-regional, mixed-use project, the Rock Run Collection. 

The upside surprise came despite monthly and yearly declines in the pace of sales. 

The single-family sector managed to eke out a slight monthly gain, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. 

The NAHB/Wells Fargo Housing Market Index slid a point to 32, reflecting ongoing negative sentiment in the homebuilding industry. 

SVN Chicago Commercial has closed the sale of an approximately 80,000-square-foot parcel of riverfront land at 2221 W. Oakdale Ave., located in Chicago’s Roscoe Village neighborhood.

The inventory of new homes for sale surged year over year, according to the U.S. Census Bureau and the U.S. Department of Housing and Urban Development.    

The Irving Park development will bring 45 affordable residences to market. 

New single-family home construction declined as builders continue to grapple with macroeconomic headwinds. 

Banner Real Estate Group broke ground on The Faywell, a 334-unit multifamily community in downtown Wheaton, after nearly five years of development.

The residences are located on the 800 block of North Homan Avenue in Chicago’s Humboldt Park neighborhood.

The organization issued a statement in support of the pro-development campaign at its annual meeting in Tampa. 

Homebuilder sentiment recently reached its third-lowest level since 2012.