High-rise multifamily construction to carry the Chicago construction industry

  • Two high-rise rental projects broke ground in January valued at a combined $237 million.
  • The majority of single-family starts in the Chicago metro should be in the form of downtown condo towers.
  • The South Loop, The Loop, River North and Fulton Market neighborhoods each have three or four high-rise projects lined up.

Last month the value of all residential construction starts in the Chicago-Naperville-Joliet metro totaled nearly $392 million, with multifamily starts accounting for the majority of this volume. According to data from Dodge Data & Analytics, two high-rise rental projects broke ground last month that accounted for $237 million of the $392 million total.