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The Biggest News Jason Rosenberg
Nov 122 min read

Windy City Real Estate Whirlwind: Price Hikes, Office Makeovers & Mega-Mansions

Home Prices Are Climbing, and So Are Buyers' Heart Rates! 💸💖

Chicago’s housing market is heating up, outpacing the national average! The median price in the Chicago metro area has hit $339,900, making homes here feel pricier than a deep-dish pizza at a gourmet spot. But with interest rate cuts and inflation cooling down, experts say 2024 might just be the year buyers catch a break. Fingers crossed!

Downtown’s Real Estate “Glow Down” 🏢💤

The heart of Chicago is feeling a bit empty these days – more offices are sitting vacant than ever! With a 16.2% office vacancy rate, downtown Chicago is leaning into a total makeover. The new trend? Transforming empty office buildings into cozy residential spaces! The old office building at 500 N. Michigan is swapping cubicles for 320 new apartments, bringing a whole new live-work vibe downtown.

A Mega-Mansion That’ll Make Your Jaw Drop 😲🏰

Dreaming of a beach house? How about 223 feet of sandy Lake Michigan shoreline for a cool $35 million? That’s right – Illinois’ priciest home just hit the market in Winnetka, with 20,000 square feet of pure luxury. This 1920s beauty awaits a new owner with a taste for the finer things in life (and a really big wallet).

Setting Records in the ‘Burbs 🏡✨

Out in La Grange, Sterling Bay exec Matt Menna just set a sizzling record, selling his home for $525 per square foot! The house has seen major upgrades since Matt snagged it in 2011, and the sale has everyone in the area buzzing about the new high in the neighborhood.



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