Downtown Chicago Tops in the U.S. in High-Rise Apartment Construction

Posted by Helaine Cohen on Thursday, March 23rd, 2017 at 7:51am.

Downtown Chicago New ConstructionLarge scale development has been on the rise all throughout Downtown Chicago for a couple years now, but according to a recent report from the Wall Street Journal, the Windy City is seeing one of the highest levels of residential high rise construction of any place in the country. In fact, Chicago is reported to have more active cranes throughout its skyline than 11 other major cities in the U.S., only trailing Seattle by the slightest of margins. 

As noted in the piece, Chicago had 31 active cranes perched up in the sky working on residential projects specifically as of last November, and 62 construction cranes if you include both residential and commercial development. 

At the time, the volume of construction cranes in the city set a post-recession record, and from the looks of it, there doesn’t seem to be a slowdown coming anytime soon. In 2017, 33 new apartment buildings are expected to wrap up construction, delivering over 6,000 new units to the city’s increasingly saturated market. But even as Cook County and the state of Illinois overall continues to lose residents, Downtown Chicago appears to be booming. 

Helaine Cohen, Chicago Real Estate Broker

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