With construction cranes popping up all over Chicago’s downtown and in an increasing number of outlying neighborhoods and suburbs, it doesn’t take an expert to see that the Windy City is in the midst of a building boom. But just how much cash has Chicagoland invested in new construction? The answer, according to recently released numbers from Dodge Data & Analytics, is a considerable amount — $4.22 billion to be exact.
The newest findings show an impressive 66 percent year-over-year increase through July. The residential segment of new construction faired even better, experiencing a staggering 133 percent surge since July of 2015. In fact, from a purely percentage based perspective, Chicago performed the best of the ten metropolitan areas featured in the analysis.
- Chicagoland new construction is surging in 2016 [Chicago Agent Magazine]
- Mapping the 44 high-rises under construction in Chicago right now [Curbed Chicago]
- Previous Chicago Real Estate Market Reports [Curbed Chicago]