Chicago Real Estate Round-Up: Tuesday Edition

Lincoln Park 2520 is just one of many new constructions in Chicago in 2011.

Chicago new construction contracts on the rise in 2011

[Chicago Real Estate Daily]

While the housing market is still slowly recovering, there is one market segment that is seeing an improvement so far in 2011. The number of local construction contracts for both residential and commercial buildings have been on the rise in the Chicago area during the four months of the year. From January through April, the cost of new contracts totaled $1.45 billion, representing a 14% increase over last year at this time.

These numbers bode well for the industry, but experts warn that the market is still recovering and that it needs more momentum before the housing market is truly out of the woods.

Other Top News:

Trend: Number of short sales on the market continues to rise [Benzinga]

General Growth Properties considers a street-level mall [Reuters]

Chicago’s Museum of Science and Industry features the dream green home [Inman]

Announcement: Auction of 22 Chicago condominiums [PR Newswire]

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