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High-End Homes in the Chicago Area Are Selling Like Hotcakes

A pair of reports paints a rosy picture for construction and real estate, especially high-end homes and retail, reinforcing a renewed confidence in the industry. The sale of $1.5M homes is at a new post-recession peak, hitting 80% of the pre-crash volume recorded in 2007 while buoying this year's slight dip in total area sales. While the report referenced in Crain's doesn't touch on downtown condo sales, Chicago is still the top market for pricy residential properties, above Winnetka and Hinsdale, reinforcing the shift to city living. In addition, the construction industry is having a banner year, pushed by strong demand for new commercial projects that's resulted in $2.5 billion in contracts so far this year. Dodge Data & Analytics suggests that data centers, office interiors and retail projects should continue to fuel more spending
·The priciest home listings — and why you need to hurry if you want one [Crain's]
·Best year since 2008 for construction industry [Crain's]