Val Popovic Realty

https://www.wsj.com/real-estate/luxury-homes/lincoln-square-chicago-home-prices-d5822edd?st=8uXpJD

A Chicago Neighborhood With a Suburban Vibe Is Seeing Home Prices Soar Bigger backyards and a shorter commute have made Lincoln Square one of the city’s top destinations for families

Multifamily Trends For 2025 Watch for AI-enabled property management, wellness amenities, mental health enhancing design and rooftop activation to be among the leading trends impacting multifamily communities in the year ahead.

A new Balkan restaurant is opening in River North next year Street Guys Hospitality — which has restaurants in Washington, D.C., and in their home country of Serbia — is bringing their popular concept Ambar to Chicago.

https://chicagoyimby.com/2023/03/a-full-breakdown-of-west-loops-development-boom.html

A Full Breakdown of West Loop's Development Boom - Chicago YIMBY A full breakdown of all current developments within West Loop's borders, ordered by height.

Chicago home price growth tops national rate for the first time in years As once-fizzy West Coast housing markets sink, Chicago shows its residential resilience.

City neighborhoods
Woodlawn: $478,500, up 242%
West Englewood: $125,000, up 178%
South Shore: $250,000, up 139%
North Lawndale: $201,000, up 83%
Roseland: $176,277, up 80%
Near North: $2.1 million, up 73%
East Side: $200,000, up 56%
Albany Park: $607,500, up 51%

Suburbs
Sauk Village: $131,000, up 118%
Park Forest: $136,500, up 95%
Markham: $150,000, up 87%
University Park: $183,500, up 77%
Kenilworth: $2.1 million, up 66%
South Holland: $232,850, up 60%
Glencoe: $1.35 million, up 60%

These are the places around Chicago where home prices have grown the most The median price of homes sold in the Chicago area has gone up more than 27% since the pandemic began. That's a pittance compared to what's happening in these 15 neighborhoods and suburbs.

Chicago-area home sellers this spring reaped the biggest profits of at least the past 14 years, according to a new report.
Sellers in the Chicago area averaged $80,000 in gross proceeds when selling their homes in the second quarter, according to a report from Attom, a property information service. It’s the highest figure in records going back to first- quarter 2008.
With home prices rising fast during the pandemic-driven housing boom, homeowners’ equity stakes grew apace. Just before the pandemic dawned, in the first quarter of 2020, Chicago-area sellers reaped proceeds of $36,000, according to Attom. (That's gross proceeds, not accounting for money the sellers may have spent on improvements during their tenure.)
In the two and half years that followed, their proceeds rose by a little more than 120%.
But sellers here lagged the rest of the country. Nationwide, proceeds averaged $123,869 in the second quarter, up 134% from early 2020.
The average Chicago-area profits were smaller than those in any other city among the nation’s 10 largest. Los Angeles led with $308,000, followed by Boston at about $218,000. Only one big city other than Chicago had average proceeds below $100,000. That was Houston, at about $96,000.
This is a result of—and at the same time, might be a factor in—Chicago’s home prices growing slower than those in most other big cities during the boom. It’s a result because slower price growth means sellers’ equity grows less. It may also be a factor, in that move-up buyers don’t have as much cash coming to them from the sale of their former address to bid up exuberantly on the next one.

How do Chicago-area home sellers' profits compare to those in other cities? In a red-hot market, home sellers are walking away with more money. Here's who reaped the biggest profit.

Here's Lightfoot's plan for a Soldier Field makeover. Will the Bears care? The team is noncommittal and the Friends of the Park civic group is already pushing back on the pricey project.

Don't hold your breath waiting for a housing bubble to burst Despite the recent run-up, home prices haven't outpaced economic fundamentals.

https://moneywise.com/mortgages/mortgage-rates-news/trends

30-year mortgage rates drop a tiny amount, pausing their sharp climb Adjustable-rate mortgages with lower initial rates are becoming more attractive to borrowers.