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Million-Dollar Homes Are Selling in Chicago

Sales of million-dollar homes jumped more than 30 percent last year, but there's still a 15-month supply of single-families and a year-and-a-half supply of luxury condos in the city. You know what that means: price reductions! "If the discounting continues, the market will move up modestly," says James Kinney from Baird & Warner. [Crain's]