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.
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About Jon Broadbooks

Jon Broadbooks is Vice President/Communications for Illinois REALTORS®. He serves as editor of online and print content for the association’s communications including the Illinois REALTOR® magazine and e-newsletters. He conducts spokesperson training seminars and oversees website development for the Association.

One thought on “News roundup: Chicago’s upscale condo market thriving

  1. 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)

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