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Real estate news in Chicagoland

Chicagoland roundup: Affordability to-do list, livability chops, property taxes and more
Chicagoland roundup: Affordability to-do list, livability chops, property taxes and more

Chicago’s newly-appointed commissioner of the Department of Housing gets an earful at city hall, livability may not be priced into real estate, a first-of-its-kind graduate certificate in real estate development is coming this fall and much more in our weekly local news roundup.

CAR Opportunity Zone forum sheds light on a groundbreaking program
CAR Opportunity Zone forum sheds light on a groundbreaking program

A provision within the most recent tax reform bill attempts to remedy the place-based polarization that's plaguing many communities across the country, including Chicago. CAR's Commercial Forum recently hosted a seminar on the issue, bringing together real estate professionals, community leaders and even a key architect of the program to discuss its impact.

Chicagoland roundup: Condos and townhomes ascendant, Arlington Heights eases zoning and more
Chicagoland roundup: Condos and townhomes ascendant, Arlington Heights eases zoning and more

While sales may be down, the number of attached homes that went under contract is on the rise. Also, zoning standards are softened to make way for a new suburban town center and a new study looks at renter stats in Cook County.

Chicagoland sales slow to recover from rocky start
Chicagoland sales slow to recover from rocky start

The latest RE/MAX report for the Chicago metro area shows some improvement over last month, but year-over-year numbers still fall short of national totals.

Chicagoland roundup: Rents up, capital construction budget starts flowing and more
Chicagoland roundup: Rents up, capital construction budget starts flowing and more

Two historically affordable neighborhoods see rapid rent increases, Pritzker’s budget begins to pay off for real estate and more new residential development is proposed for Fulton Market.

Real estate’s contribution to the Illinois economy
Real estate’s contribution to the Illinois economy

For every home sold in the state, Illinois' economy generated $18,000 of income from things like real estate commissions, fees and moving expenses related to a purchase. These expenses were about 9 percent of the median home price, but constituted 27 percent of a home sale’s economic impact.

Chicagoland roundup: One Central snafu, new suburban development, first casino rejection and more
Chicagoland roundup: One Central snafu, new suburban development, first casino rejection and more

In this week’s roundup of local news, lawmakers ask the governor to pump the brakes on another mega-project, new residential developments are coming to Barrington and Schaumburg, Ald. King said no thanks to a casino at the former Michael Reese site and more.

What Illinois’ new budget means for you
What Illinois’ new budget means for you

Gov. J. B. Pritzker didn’t get everything that he wanted, but as the 2019 legislative session wrapped up in the first few days of June, he could credibly claim to have accomplished more than an Illinois governor had in years....

Declining two-flats mean less diversity, affordability
Declining two-flats mean less diversity, affordability

The neighborhood of North Center is losing its stock of two- to four-flat rental buildings to single-family home conversions and teardowns, following a citywide trend that is making the neighborhood and the city less affordable, according to speakers at a...

Indicators leading you into the summer market
Indicators leading you into the summer market

When examining forward-looking data like pending home sales, new-construction activity and listing traffic, the news for the market overall isn't stellar. But there are a few bright spots for Chicagoland real estate professionals in particular: The Midwest is proving to be more robust than other regions, and moderately priced homes are still in high demand.

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