What Exactly Is The Problem With The Lincoln Yards TIF?

What Exactly Is The Problem With The Lincoln Yards TIF?
It’s been more than 11 years since I first posted about the absurdity of a steel plant located in Lincoln Park: Why Finkl & Sons Is In Lincoln Park. So I was pretty happy when word first got out that Sterling Bay was going to put something more logical on that prime real estate. Of... Read more »

Chicago Foreclosure Activity Didn't Improve Much Last Month

Chicago Foreclosure Activity Didn't Improve Much Last Month
Data released today by ATTOM Data Solutions, parent company of RealtyTrac, shows that Chicago’s foreclosure activity didn’t improve much in April compared to last year – down only 6.0% – and actually rose 13% from March. You can see the history graphed below and it’s fairly obvious that the month to month variations are pretty... Read more »

Where Does Chicago's TIF Money Go?

Where Does Chicago's TIF Money Go?
A couple of weeks ago I provided an overview of how Chicago’s TIFs work – or at least how they are supposed to work. At the time I was unable to find a source of information on exactly how the money was being spent. However, upon further investigation I did find it and the accounting... Read more »
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Chicago Real Estate Market Update: Lowest Home Sales Drop In 6 Months

Chicago Real Estate Market Update: Lowest Home Sales Drop In 6 Months
Good news! Chicago home sales declined by 3.5% in April from the previous year. Why is that good news? Because that’s the smallest decline in 6 months for the Chicago real estate market. But it is the 6th month in a row that sales were down. The graph below shows Chicago’s historic monthly home sales... Read more »

Chicago Affordable Housing Requirements Make Homes Less Affordable

Chicago Affordable Housing Requirements Make Homes Less Affordable
Well, I knew it had to be true. On several occasions I’ve posted on how Chicago’s affordable housing requirements most likely just end up exacerbating the problem, as in this post from 1 1/2 years ago: Chicago’s Affordable Housing Quagmire About To Get Deeper. As I said at that time:   So who pays for... Read more »

Case Shiller: Chicago Area Home Prices Rise Faster Than In California

Case Shiller: Chicago Area Home Prices Rise Faster Than In California
After yesterday’s release of the Dow Jones S&P CoreLogic February Case Shiller home price index I needed a catchier headline than the usual “Home Prices Are Slowing Down” and “The Chicago Area Was Slow To Begin With”. I decided to focus instead on the unusual circumstances of home price appreciation in all 3 California metro... Read more »
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Understanding Chicago TIFs

Understanding Chicago TIFs
TIFs (Tax Increment Financing) have received a ton of coverage in the news recently because of the recent debates about two of Chicago’s largest ever planned real estate development projects: Lincoln Yards and The 78. These two developments will benefit from up to $2.4 B in TIF money, which has been one of the more... Read more »

Defying Logic, Real Estate Commissions Rise

Defying Logic, Real Estate Commissions Rise
RealTrends is a residential real estate brokerage industry publishing and consulting company that analyzes various industry trends. Not quite a year ago they ran an article on the impact of inventory, brokerage models, and referral fees on real estate commissions. One of their more compelling arguments was their claim that lower listing inventory resulted in... Read more »

The Strange Patterns In University Village Condo And Townhome Prices

The Strange Patterns In University Village Condo And Townhome Prices
It’s been a couple of years since I have reviewed University Village* condo and townhome prices. Over the last year or so I’ve been monitoring the sales flow there and I’ve been intrigued by how much of the available inventory has been overpriced and consequently has languished on the market. Occasionally I’ll see a transaction... Read more »
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Chicago Foreclosure Activity Drops 35% From Last Year

Chicago Foreclosure Activity Drops 35% From Last Year
ATTOM Data Solutions, parent company of RealtyTrac, released their Q1 2019 U.S. Foreclosure Market Report this morning. For the nation as a whole foreclosure activity was down 15% from a year ago to the lowest level since the first quarter of 2008. According to Todd Teta, chief product officer at ATTOM Data Solutions: While some... Read more »