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All tagged Chicago Real Estate
House hunters and homeowners are familiar with the bidding war game, but 2022’s real estate market is showing a massive surge in rental bidding wars throughout Chicago.
As of late, investors began numerous real estate initiatives throughout the Chicago South Side, including an influx of investments and developments.
Learn more about the most common ways that you can invest in real estate, actively or passively, in order to bring on an additional form of income.
Many are left wondering how the Chicago real estate market will rebound from months of closures and low traffic. With progressing coronavirus vaccinations and pandemic restrictions potentially lifting, this concern is even more prevalent.
Real estate suburban migration has been a hot topic throughout the real estate industry nationwide.
This year has been difficult for everyone and many people are looking for a new home for reasons like a change of scenery, the relative peace and quiet of the suburbs, or to chase a new job. With that comes new trends in home buying and a shift in the home buying process.
Post-pandemic foreclosures in Chicago are expected to rise throughout the coming months.
Although the majority of the United States is experiencing an unexpected but welcome positive rise in housing prices, the same cannot be said for certain areas of the country. Chicago and the surrounding areas, unfortunately, have not experienced the bright side of the coronavirus housing market, with multiple counties in Illinois negatively affected and currently seriously at risk of detrimental post-pandemic levels of foreclosure.
The primary difference between a commercial real estate transaction and a residential one concerns the entities involved. A residential transaction typically involves a transaction between two individuals, but because commercial properties are typically larger and used by business entities, they tend to be seen more as an investment rather than a purchase.
2019 was a year to remember for Chicago real estate development, including a revival of the Old Post Office, megadevelopment projects on the riverfront, and perhaps, most notably, the opening of the world’s largest Starbucks, a five-story coffee heaven located on Michigan Avenue!
In 2020, several projects are set to break ground, continue production, or open for business!
In recent years, numerous Chicago condominium developments have undergone “deconversions” to transform them into apartment buildings. As a matter of fact, between 2016 and 2018, there were 20 total deconversions made in the City of Chicago. This possibly stems from the upward trending apartment rental market in conjunction with Chicago’s slowing home buying market, along with the devaluation of many units in condominium projects.
Last month, a new Chicago ordinance went into effect in an attempt to slow the spree of recent condo-to-rental deconversions.
Through the years, real estate has become heavily intertwined with the American Dream. It starts with purchasing one building, then another, then another. Before you know it, you have an empire.
But sometimes that aspirational Dream quickly fades into a nightmarish hellscape for tenants, state officials, and alas, even the property owners.
Enter The Better Housing Foundation.
Throughout the world, the city of Chicago is known for its glorious skyline. After 1871’s Great Chicago Fire, the city needed a massive rebuilding. Some of the largest metropolitan cities, such as New York and St. Louis, dedicated a great amount of resources to the undertaking, and the initiative drove architects from all over to leave their mark on the Second City.
Since those glory days, real estate and Chicago have gone as well together as a Chicago-style hot dog and relish, something which still rings true over a century later in 2019. Now, the latest example of Chicago’s real estate development ambition stems from the locally-based Decennial Group.
