2015 Trends in Chicago Real Estate

Chicago Real Estate pic

Chicago Real Estate
Image: chicagonow.com

Sergio Garcia is an experienced real estate professional based in Chicago. As a sales manager with Chicago Real Estate Lenders, Sergio Garcia focuses on identifying foreclosed residential and commercial properties that have a high potential for profit. Over the course of 2015, the Chicago real estate market has experienced several trends in sales, buying habits of consumers, and types of real estate purchases.

As reported by the blog Chicago Now, residential real estate sales in the city for the month of September were at their highest numbers in almost a decade. Additionally, a number of residential properties are being purchased and redeveloped close to the downtown area, rezoned in order to accommodate small to midsize businesses.

Within the commercial real estate sector, the headquarters of several major corporations have sought new residences in the city; these include Google, which purchased a former cold storage warehouse in the West Loop area of downtown. The company aims to transform the building into a gold standard LEED-certified facility.

With the climbing purchase prices of Chicago property, some professionals suggest that the city’s real estate market is currently a seller’s market, and has been fortunate to avoid the serious fluctuations that Manhattan has experienced this year.

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