The Chicago skyline is dotted with cranes. Streets are lined with new construction, some actively in the process of being turned into inventory for buyers and renters, and others sitting untouched for months or even years. Leading the market share in the Chicagoland area, @properties recently released its 2016 @report documenting trends, insights and risks for condominium and townhome development in the city. The report focuses on eight core neighborhoods in the city and identifies five particular risks that developers need to keep in mind while planning and executing a development in the city. Gold Coast, River North, Streeterville, Loop, South Loop, West Loop, Lincoln Park and Lakeview are covered in the report. To compile the report, @properties surveyed people who are in the trenches designing, building, financing and selling new construction in the city. Brokers, architects, general contractors and bankers offered their insights and their most prominent worri...
- 75 percent of developers believe their for-sale construction activity will increase in the next two years
- The most common concerns for developers are rising construction costs, politics and the local economy
- @properties conducted research by surveying bankers, developers, architects, general contractors and more