In March 2024, the Chicago area’s housing market saw a slight dip in home sales compared to the previous year, with total sales totaling 6,794 in the nine-county Chicago Metro Area. This represented a 14.1% decrease from March 2023, coupled with a 15.5% drop in available homes for purchase, leaving only 10,409 homes on the market according to Norada Real Estate Investments
White Sox owner Jerry Reinsdorf is willing to contribute financially to the team’s stadium project. According to Crain’s Chicago Business, Reinsdorf is proposing to help finance a new stadium on “The 78”, a vacant 62-acre plot in the South Loop, just south of downtown Chicago.
Contemporary Concepts has submitted a zoning application for a proposed residential development at 1055 W Diversey. The project site, currently housing a church. The new development, designed by Studio Dwell Architects, is planned to be a five-story building with 24 residential units, standing 58 feet tall. The exterior will feature a brick cladding with metal accent panels and limestone on the ground floor windows.
Zion Woods, a project for affordable housing, has begun construction on a nine-acre parcel next to Zion Evangelical Lutheran Church in Deerfield. Initiated by the church over a decade ago, the development aims to address the increasing need for affordable housing in the area. The project, which saw its groundbreaking ceremony recently, is expected to be ready for occupancy by mid-2025.
“Star Wars” creator George Lucas, have expanded his real estate portfolio with the purchase of a $11.2 million 66th-floor penthouse in Streeterville’s 800 N Michagan Avenue building from Citadel founder Ken Griffin. They plan to merge this penthouse with their existing 65th-floor condo, bought in 2015 for $18.75 million, to create a 16,000-square-foot duplex penthouse. The total cost for this project is estimated at $33.5 million, setting a new record for Chicago’s most expensive condo. Architect Scott Fortman of Gibbons, Fortman & Associates is overseeing the design, which includes adding two new interior staircases and upgrading electrical and mechanical systems as reported by the Chicago Tribune.
