Market Update Chicago Near North Side March 2018

Dated: 03/09/2018

Views: 132

On Monday Chicago was, again, named the top metro area for corporate relocation. In light of that Crain's posted an interesting article, just yesterday, about the variety of company headquarters that are being attracted to the West Loop to stay or be in proximity to the new McDonald's headquarters, making meetings among executives much easier. All of these jobs being moved into the city will make living downtown much more attractive to many workers. The area is walkable, commute times will be much lower, and shopping and entertainment is plentiful. 

Image title

Image title

This news is great for every downtown homeowner. Making downtown more desirable to live in will extend the seller's market we have been seeing all over downtown. We mentioned in the last report that prices in the Near North Side have been comparatively steady to the booming markets of the West Loop and South Loop, but the desirability of the neighborhood has not wavered. If the influx of corporate headquarters brings an influx of buyers we may see prices in this neighborhood push up more than they have been. Homeowners in the Near North neighborhood are in a great position. If they are planning to stay long term they have good reason to expect their values to continue to rise for a long time, but if they are thinking of selling they can at any time and feel confident about netting a fair and good price for their home.

Image title





Molly Heyen

[email protected]

312-772-3112

Blog author image

Molly Heyen

With a passion for cars and condos Molly races to find enjoyment in every aspect of life, but like any good race car driver or business professional she always researches her risks carefully to help h....

Latest Blog Posts

You get one chance....

To make a first impressionSteve Lona630-343-9839 Direct/Text"Prepare To Be"

Read More

October 2018 “How’s the Market?” What’s Ahead for Real Estate

 While no one can predict the future with certainty, most experts expect to see modest growth in the U.S. housing market for the remainder of this year and next. Inventory will remain tight,

Read More

Should A Realtor Answer That Question?

Realtors do not give legal advise; or do they?Steve Lona630-343-9839 Direct/Text"Prepare To Be"

Read More

Streeterville's Sordid History & Monthly Market Update

The market in the Near North Side remains steady, with most of it in a seller’s a market and the higher priced homes pushing a balanced market. Most homes continue to take just a few months to

Read More