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News

5/30/2023 Chicago borrowers are riding a rocket as rates head for the stars—Loop North News

The “warp speed” of Star Trek’s Enterprise is the best way to describe mortgage rate hikes that have impacted the Chicago housing market over the past year.
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5/30/2023 Man wielding ax fatally shot by officer in Des Plaines, police say—Chicago Sun-Times

A man who was shot and killed by an officer Wednesday night in northwest suburban Des Plaines was approaching officers while holding an ax, police said.
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5/22/2023 Two weeks after high-rise fire, condo owners push management to make changes—CBS News

Two weeks since the latest in a series of high-rise fires in Chicago, residents inside the building of the most recent blaze in South Shore are calling on building management to step up as problems begin to stack up.
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5/19/2023 Existing-Home Sales Faded 3.4% in April—National Association of Realtors

Existing-home sales decreased in April, according to the National Association of REALTORS®.
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5/15/2023 Can studying cooperative housing in Sweden teach the U.S. how to overcome the moderate-income family housing crisis?—Shareable

The housing-supply crisis in the United States has most impacted low- to moderate-income households.
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5/10/2023 Explosion in Madison, WI condo building injures at least 4—ABC 7 News

At least four people were injured in a condo building explosion in Madison, Wis., Tuesday.
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5/8/2023 First permit issued for development at 535 E. 47th—Urbanize Chicago

A self-certified permit has been issued for the first building of the mixed-use development at 535 E. 47th.
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5/8/2023 Three high-rises where major fires broke out were cited for fire pump problems—CBS News Chicago

Hundreds of people living in a South Shore high-rise still don't know when they can get back into their homes after a fire on Thursday.
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5/2/2023 Chicago’s largest co-living development nears completion in Lincoln Park—RE Journals

Chicago-based Structured Development announced the opening of a model unit at Post Chicago, a 10-story, 431-bed co-living community, the first of its kind in Chicago’s Lincoln Park neighborhood and the city’s largest co-living development.
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4/25/2023 River City, Lakeview condo-to-apartment converters look to cash out—Crain's Chicago Business

A pair of developers that turned big condo buildings into apartments over the past several years have put them up for sale, hoping to defy what has become a difficult market to sell almost any kind of real estate.
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4/25/2023 New condos coming to site of historic Wicker Park church built for deaf people—Crain's Chicago Business

Developers plan to build a 10-unit condo development on the site where a historic Wicker Park church that was built for a deaf congregation and helped launch a national mission of preaching to deaf people stands now.
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4/25/2023 When your neighbors become your overlords—Vox

There are few things more delicious than a homeowners association horror story.
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4/17/2023 Weiss Lands $54M Refi for Chicago-Area Community—Multi-Housing News

Weiss Entities has secured a $54 million refinancing loan for Prairie Point and The Reserve at Prairie Point Apartments, a 440-unit luxury multifamily community in Merrillville, Ind.
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4/17/2023 Proposed ‘mansion tax’ will sink luxury home values—Loop North News

Mayor-elect Brandon Johnson’s proposal to more than triple the transfer tax – imposed on buyers of residential or commercial properties priced at $1 million or more – is not being well received by the Gold Coast, Lakeview, Lincoln Park, Old Town, and Streeterville real estate brokerage communities that strongly backed election competitor Paul Vallas.
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4/17/2023 Condo Adviser: Illinois Smoke Detector Act phases out older models with removable batteries—Chicago Tribune

Q: I live in a high-rise condo and recently heard a rumor about an update to a statute regarding smoke detectors that apparently affects condos.
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4/17/2023 Partially Affordable Development Breaks Ground in Chicago—Multi-Housing News

Brinshore Development and The Michaels Organization have broken ground on Westhaven Park Phase IID, a 96-unit partially affordable development in Chicago.
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4/17/2023 Mortgage Payments Now Eclipse Apartment Rents in the U.S.—World Property Journal

According to new research by CBRE, U.S. homebuyers today face average monthly mortgage payments that are 37% higher than the average monthly apartment rent.
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4/6/2023 Officials provide update on Woodridge tornado recovery efforts nearly 2 years later—WGN9 News

As disaster recovery efforts are underway after the latest tornado outbreak, the Village of Woodridge is still working to recover from one that hit the community nearly two summers ago.
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4/6/2023 Neighbors Criticize Lack Of Affordable Housing In Developer’s Plan For Condos At Former Twisted Hippo Site—Block Club Chicago

A developer has reworked plans to build 24 condos at the former Twisted Hippo Brewery and Ultimate Ninjas Gym site, but neighbors are still concerned about a lack of affordable housing and its design.
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4/6/2023 2 Firefighters Injured Battling High-Rise Blaze on Lake Shore Drive—County Herald

Two firefighters were injured while fighting an extra-alarm blaze in a high-rise building on Wednesday morning near the Gold Coast neighborhood.
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