News roundup: Chicago's upscale condo market thriving

Condo owners in some locations have actually seen property appreciate as the Windy City recovers from a housing slump.
Many of the units in the Trump International Hotel and Tower have been resold for more than the purchase price.
Interesting observations:
  • Chicago a heard sell for foreign buyers. Most seem to be wealthy U.S. residents.
  • Prestigious addresses may be faring better. (Crain’s Chicago Business)
Lincoln REALTOR® getting attention: Seth Goodman says he began an interest in real estate at 10. Now he’s the most successful of Logan County’s 56 REALTORS®. Goodman had sales of $12.8 million last year. He has a quarter of the real estate offerings in the county. (The State Journal-Register)
Signs of recovery: Reduced mortgage rates, a better job market and attractive prices combine to make the spring selling season a good one. The story notes that in some areas prices have actually begun to increase after many months of declines. (Associated Press via Lake County News-Sun)
Springfield market showing signs of life: IAR, Springfield REALTOR® are sourced in the report by WICS.
And finally….IAR to release housing data Thursday: The monthly sales report will be released at 8 a.m. Check Illinoisrealtor.com for details.
2012-04-16T13:42:45+00:00 April 16th, 2012|Uncategorized|2 Comments

About the Author:

Jon Broadbooks is vice president for communications at Illinois REALTORS®.

2 Comments

  1. Mike Woods from Indianapolis April 19, 2012 at 11:11 am

    I’m not surprised the Chicago upscale condo market is thriving. I was in Chicago recently, and couldn’t believe all the activity. If only things would turn around in my neck of the woods! (central Indiana)

  2. Mike Woods from Indianapolis April 19, 2012 at 11:11 am

    I’m not surprised the Chicago upscale condo market is thriving. I was in Chicago recently, and couldn’t believe all the activity. If only things would turn around in my neck of the woods! (central Indiana)