Single-family construction activity within the North Shore market of Lake Forest is said to be at the highest levels in several years. A recently approved project looks to increase the city’s inventory of newly built for-sale inventory.
Northfield-based Focus Development recently received final approval for a community that will consist of 12 “maintenance-free” single-family homes and 42 condos, along with 111 rental units.
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Nationally, the development of “agrihood” communities is a growing trend, as more homeowners are attracted to the idea of living on a working farm.
Roughly 50 miles northwest of Chicago, developer John DeWald has began the build out process for Serosun Farms, a 400-acre agrihood community in Hampshire, Illinois.
With incomes predicted to grow at roughly the same rate by year’s end as home values and rents, housing costs are forecasted to plateau — not improve or get any worse – in some of the nation’s largest cities.
This prediction has to be a slice of good news for renters and homebuyers in San Francisco, Miami, New York City and Los Angeles, as these cities are some of the most unaffordable housing markets nationally.
Larger agencies are investing significant capital toward office renovations aimed at increasing employee collaboration in a more flexible space.
At Chicago’s Aon Center, Jones Lang LaSalle recently completed the two-floor, first phase of a six-floor office upgrade that when completed in spring 2017 will cover more than 200,000 square feet.
Known for its ties to the ’80s cult classic Ferris Bueller’s Day Off, the village of Northbrook is considered a top suburb on a statewide and metro level.
The North Shore village of roughly 33,000 was recently ranked as the top city in Illinois to live by Movoto Real Estate and the seventh best Illinois suburb by Niche.