Rendering of the rooftop bar at LondonHouse. The boutique hotel LondonHouse on Michigan Avenue, which is set to open sometime in May, has been sold to German investors for $315 million. It's a new record for a Chicago hotel, according to Crain's Business Journal. The 452-room hotel was purchased by Hamburg-based Union Investment Read more
Sullivan Center The historic Sullivan Center in the Chicago Loop is being sold to a group of New York investors for a reported $267 million. Crain’s Business Journal reports the 117-year-old structure, which was formerly known as the Carson, Pirie, Scott and Company Building, is being bought by Madison Capital in what it Read more
Artist rendering of planned Old Town Chicago apartment complex. Plans are underway for the construction of a new 60-unit apartment complex in Old Town Chicago, across from the famed Second City comedy club at North Avenue and Wells Street. Local developer JAB Real Estate is spearheading the project. Crain's Business Journal notes the Read more
Pending home sales in the U.S. reached a seven-month high in February, which was a nice rebound from January's disappointing numbers. It's an indication another strong spring selling season could be in the offing. The National Association Realtors reported its pending home sales index increased by 3.5 percent month-over-month in February. This surpassed analysts expectations. Read more
The chief economist at Realtor.com recently came out on record stating he expects a strong spring selling season in real estate because of a number of factors. These include an improving labor market, continued increases in new home sales and low mortgage rates. Let's take a closer look at the predictions from Realtor.com Chief Economist Read more
2141 W. Ohio Street Chicago, Ill. Now on the market is this sophisticated contemporary single-family home in the heart of Chicago's vibrant West Town /UK Village neighborhood in Chicago. It comes with four bedrooms, three full baths, one partial bath and 3,300 square-feet of living space. This West Town home, which boasts a Read more
A study of the luxury housing market in Chicago found the number of homes that sold for at least $1 million in the Windy City increased by 8.0 percent in 2015 from a year earlier. According to an analysis by RE/MAX, there were 2,353 luxury homes sold in metro Chicagolast year. While the number of Read more
The performance of the Chicago real estate market in 2016 will be driven by baby boomers and millennials. That's according to Chicagobusiness.com, which recently took a comprehensive look at the roles the nation's two largest adult population groups will play this year. As Chicagobusiness.com points out, millennials and baby boomers are critical for Chicago real Read more
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Marketwatch, as part of its New Year's coverage, recently provided a well-researched and reported forecast of the four real estate trends that will shape the market in 2016. It's really a good read and well worth the visit. The piece features no shortage of pertinent takeaways that can be applied to the Chicago real estate Read more