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Report: Chicago area new construction spending surges in 2016

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Recently release data through the end of July shows an impressive year-over-year increase of 66%

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.