Crain’s Headlines: Shallow Growth in Chicago-Area Home Values

Chicago-area home values in September grew at the smallest annual rate of any month since the housing bust recovery began.

According to the S&P CoreLogic Case-Shiller index, single-family home values in the region grew by 0.6%, compared with the same period last year.

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That’s the lowest since the index for Chicago turned positive in November 2012 after five years of declines.

Reasons for the shallow local growth include population loss and rising property taxes.

In other Chicago-area news:

Another Bay Area tech firm is beefing up its commitment to Chicago.

Sources say cloud storage company Box is finalizing a deal to lease around 20,000 square feet in the West Loop.

The new office would mark the company’s first formal corporate outpost in the city. Local employees are currently based in co-working and other temporary spaces.

It’s unclear whether Box plans to add to its headcount as part of the move.

Finally, the University of Chicago’s Booth School of Business has nabbed the No. 2 spot in a new ranking, after coming in fourth last year.

According to business school publication Poets & Quants, Booth edged out last year’s first-place winner, the University of Pennsylvania’s Wharton School, which slipped three spots.

Stanford University’s Graduate School of Business took this year’s top spot, while Northwestern University’s Kellogg School of Management got fifth place for the second year in a row.

Crain’s Headlines is a joint production between WTTW and Crain’s Chicago Business. It airs every Monday through Thursday on the WTTW News program “Chicago Tonight.” 

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