As you may have noticed, it’s been quite the year for the Chicago real estate market, especially in the downtown area. A number of major developments were either delivered to market or started construction, home values continued to rise, and unfortunately, inventory just can’t keep up with demand. But if you were one of those home buyers who just wasn’t able to make 2015 your year, don’t worry. There’s still plenty of great reasons to buy in 2016, starting with these quick little tidbits:
Chicago rents are sky-high!
The rental market in Chicago right now can only be described as crazy. And with no end in sight, why spend what’s equivalent to a mortgage payment every month on an apartment when you can be putting that money towards a home or condo that…
Earlier in the fall, a developer from Miami revealed plans for a mega two-tower development that would almost certainly re-define the South Loop skyline. Designed by New York-based architect Rafael Viñoly, the 76-story project would bring 1,440 residential units to the South Loop if built.
As noted by several reports, the developer, Crescent Heights, already owns nearly 5,000 units in the South Loop, so there’s no denying their familiarity with the local Chicago real estate market, especially in the South Loop part of town.
The goal of designing such a dynamic new project is to develop an iconic high-rise that will anchor the south end of Grant Park, which almost acts as the gateway to the city’s rapidly developing South Loop. Not long ago, plans for
Earlier this month, downtown Chicago’s newest planned community in the works became one step closer to becoming a reality, as the Chicago Plan Commission officially approved plans and construction for the project. Being called Riverline, this dynamic new development a a joint project from CMK and Australia-based Lend Lease, and will be located just south of Harrison Street, just north or Roosevelt Road, and directly in between South Wells and the south branch of the Chicago River.
Designed by Ralph Johnson at Perkins+Will, Riverline in the South Loop will feature five individual skyscrapers that range from 380 to 600 feet tall, three additional mid-rise buildings, and also a nice mixture of townhouse residences that should be among the most exclusive,
As you may have noticed, it’s been quite the year for the Chicago real estate market, especially in the downtown area. A number of major developments were either delivered to market or started construction, home values continued to rise, and unfortunately, inventory just can’t keep up with demand. But if you were one of those home buyers who just wasn’t able to make 2015 your year, don’t worry. There’s still plenty of great reasons to buy in 2016, starting with these quick little tidbits: 
