Quick Monday: Chicago Real Estate Roundup

Streeterville apartment building gets flipped by an investor


Real estate investors are gaining confidence in the market, if a recent $106 million transaction is any indication. Miami investor Crescent Heights sold a 480-unit building in Chicago for that amount less than a year and a half after purchasing it for $82 million. This apartment building flip highlights a growing trend in the Windy City; with more people renting than ever before, rents are on the increase, 7.2% by some estimates. That means big business for investors like Crescent Heights, but others still call it a risk.

Other Top News:

Home Sales on the Rise [Reuters]

Median Price for Chicago Condos Increases [UrbanTurf.com]

Defaulters are Credit Savvy, According to Report [USAToday.com]

Housing Counseling Services Slashed From Budget [MarketWatch.com]

Home Sales Decline in Will County, But Prices Increase [Chicago Sun-Times]

Searching for Real Estate on Bicycles [UrbanTurf.com]

Picture source: Reuters

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