Regarding residential real estate
in Chicago condos are king. Especially in the downtown and neighborhoods on
the north side. Even with all that has happened in the US housing market, the
industry's Chicago condominium remains stable, with an increase in average
prices and the non-stop new condominium projects development in communities
across the city.
It is a familiar scene - Investment building brand
teams new buildings on vacant land and structures gutting the old to make way
for modern spaces Chicago condo buyers put on request. The two existing
construction condo units and sell new, but a tendency to purchase new swept the
city and that really changed the face of the local real estate scene. In
addition to all the condos, lofts and apartments built during the boom between
2000 and 2006, Chicago has several ongoing plans for fresh residential
developments that will bring thousands more homes on the market.
This small buckle pocket (located between the Chicago River, Lake Shore Drive, Millennium Park and Michigan Avenue) is partly occupied by a residential development on a large scale called Lakeshore East, which will feature 14 residential towers when it is finished 2010.
Other significant contributions to joint ownership of the ever-expanding community in Chicago is the Trump Hotel & Tower and Chicago Spire. The two luxury developments are currently under construction and advertising worldwide inspired. Beginning of Donald Trump in the Windy City is located opposite the loop of the river in the trendy River North. His building of 96 floors will house approximately 470 luxury residences with prices ranging from $ 583,000 (for a studio to 580 square feet) to $ 9.6 million (for a 6,850 square foot coverage). Down near Lake Michigan, preparing for the Chicago Spire is underway. The plan for this residential building of 150-story spiral (scheduled for delivery in 2012) has about 1200 units with different levels of communal facilities upscale. Property in Speyer is one of the highest price per square foot in the city and has a million dollar coverage with undisclosed price tags.
Price of condos in the loop and other areas near the city center have shown appreciation in recent months and while prices selling condos in Chicago are in general (6% increase compared to June 2007), is the most sophisticated properties that are really out on top. The total number of million more condominiums / penthouses / houses sold in the first two quarters of 2008 exceeded the same period last year by more than 100 units. The Gold Coast is one of the most expensive and exclusive Chicago neighborhoods and real estate, there is a winning value for both condos and single family homes. The average selling price of properties attached on the Gold Coast is approximately US $ 620,000 and announced average price in the high $ 800,000s.
The welfare of the entire Chicago condo market should be positively influenced by a change in the values of the purchaser of the American home. There is a new generation of young hunters homes that are more prone to low maintenance, high-tech urban dwellings - a perfect fit for many newly built properties in the city - that large suburban homes Father's Day. As baby boomers retire, many are expected to trade in their family homes and reduce the size of condominiums nearby, an exciting fun site (also known as Chicago!). With two new large populations in the residential real estate landscape in search of the sky condominium, Chicago is prepared with important feeding units in every shape, size, style and price.
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