American consumers and home buyers, business people and political leaders have been waiting for months for what the Federal Reserve is poised to announce this week: That it’s cutting its key interest rate from a two-decade peak.
chicago real estate
According to the study, Black households have a median net wealth of zero dollars compared to $210,000 for White families, and Black families have the lowest estimated rate of home ownership at 34% compared to 72% for White households.
A probe by the U.S. Department of Housing and Urban Development found that aldermanic prerogative has created a hyper-segregated city rife with racism and gentrification.
Only two weeks ago, an industry-shaking $1.8 billion verdict in an antitrust class-action case was handed down, finding the National Association of Realtors and two brokerage firms liable for conspiring to keep commissions artificially high.
Mayor Brandon Johnson praised Ciere Boatright in a statement as a “tremendously talented and respected executive” who has proven she can get deals done.
Mayor Brandon Johnson recently announced a new proposal dubbed “Bring Chicago Home,” which would raise about $100 million dollars to fight homelessness by raising taxes on all sales above $1 million, and then an additional hike on sales of more than $1.5 million dollars.
Sam Zell, a Chicago real estate magnate who earned a multibillion-dollar fortune and a reputation as “the grave dancer” for his ability to revive moribund properties has died due to complications from a recent illness. He was 81.
The historic LaSalle Street corridor has been an economic engine for the city since the turn of the last century. But in recent years, the once vibrant financial district has suffered as major banks that anchored the area moved elsewhere in the city.
A look at the Chicago residential property market as we head into 2023 after a year of interest rate hikes.
Illinois Attorney General Kwame Raoul is calling for more federal protections for airline travelers, a major snack company is selling its gum business and a phone app company is expanding in Chicago.
One of Chicago’s fastest-growing companies looks to shed half of its headquarter space in the Loop. A glimmer of hope for suburban renters as rent prices rise. And the Wirtz family takes on a project off the ice.
Property owners will receive their tax bills soon — and homeowners might be a bit let down. Zoro, an e-commerce platform for business supplies, is joining the list of companies moving from the suburbs to the city. And McDonald's is rolling out what they say is their largest global campaign to date for the World Cup.
Walgreens backs a deal to purchase a medical center company. The owners of a landmark hotel on Michigan Avenue are hunting for a buyer — again. And a new report finds Chicago’s affordable housing problem isn’t as bad as some other cities.
Chicago biotech company Tempus raises hundreds of millions of dollars in funding from some big-name players. And another apartment building is proposed for what has become Chicago’s hottest neighborhood for multi-family units.
Two Chicago high-rises hit the market, leaving more than 700 downtown apartments up for sale. And a loan tied to a distressed hotel in River North sells at a steep discount.
There’s good news for those apartment hunting in downtown Chicago as record-high prices begin to cool off. And airline passengers will have more power and goodwill under a new federal proposal that would force fees to be disclosed.
