Local News

Real estate news in Chicago

What slowing home sales mean for Chicagoland

The suburban housing market is slowing at a steady pace, according to new data from the Mainstreet Organization of REALTORS®.

Chicago named a top 10 city for real estate investment in 2022 and 2023

Norada cited Chicago’s stable and diverse economy and its strong renters market, noting more than 50% of the population rents.

@properties Development Group debuts Wolfram18 in West Lakeview

@properties Development Group has officially unveiled Wolfram18: a collection of luxury, single-family homes in the West Lakeview.

Heartland inducts new officers and directors

The Heartland REALTOR® Organization installed new officers and directors at a swearing-in ceremony on Sept. 6.

CAR to induct new board of directors this month

The Chicago Association of REALTORS® is inducting a new board of directors this month and Sarah Ware, of Ware Realty Group, will take over as president.

As demand for new homes cools, builders reconsider future plans

A sudden slowdown in home construction hasn’t affected the rise of new apartment buildings. Ten of the country’s top metros are set to reach five-year peaks in new-apartment construction during 2022.

Median days on the market increases in Chicago and nationwide

Homebuyers nationwide had more time to make decisions in August with the first year-over-year increase in median days on the market since June 2020.

S&P Corelogic Case-Shiller Index: Chicago home prices rose 13.1% in June

Though home prices are still increasing across the United States, the rate of growth is slowing, according to the latest S&P CoreLogic Case-Shiller Indices.

The Embry now over 50% pre-sold — penthouses coming soon

The Embry, a new development listed exclusively by Compass, is over 50% pre-sold. Its two penthouses will be released soon.

Homes still selling fast in Illinois, though Chicago shows slower price growth

Homes were selling faster — at higher prices — in the state in July, according to new data from Illinois REALTORS®. The news comes following a month of decreased mortgage rates and tight inventory.

What a balancing market means for Chicago’s suburbs

Home sales are down across Chicago’s suburbs as inventory remains historically low, according to new data from the Mainstreet Organization of REALTORS®.

CAR to induct Leon I. Walker of DL3 Realty Advisors into Hall of Fame

The Chicago Association of REALTORS® (CAR) will induct Leon I. Walker, managing principal of DL3 Realty Advisors, LLC, into its Hall of Fame at September’s inaugural gala.

New mixed-income community of lofts coming to South Side

A new mixed-income, mixed-use community is coming to Chicago’s Woodlawn neighborhood: Park Station Lofts. Ground is expected to break soon.

Homebuyer competition falls to lowest level since start of pandemic

In Chicago, 44.2% of offers faced competition last month.

Chicago the only Midwest city to crack the list of nation’s highest rent communities

Chicago’s average monthly rent is $2,904, a 19% increase from the previous year.

Sterling Bay to develop city’s tallest timber tower since the Great Chicago Fire

Sterling Bay has announced plans for a nine-story multifamily development — made of timber. Located at 2100 N. Southport Ave., it will be the tallest timber building constructed in the city since before the Great Chicago Fire.

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