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Chicago Real Estate: Will the Boom Continue?

Chicago, isn't only Frank Sinatra's "kind ofmagnificent 2,000 foot tall Chicago Spire
town", it is a city loved by many people.(now under construction) will be (upon
Chicago is as cosmopolitan and as culturedcompletion, in 2010) the tallest building in
San Francisco, yet as street-wise as NewAmerica, and the tallest residential building
York; it is the city that unites this greatin the world. For those who aren't thrilled
land - the 'heart' of America, if you will.about living almost half a mile above the
In terms of music and art, Chicago has alwaysWindy City's streets, there are plenty of
been ahead of the times: while New York showsother  housing  options  in  "Chi-town".
us "what IS", Chicago shows us "what will
BE". In terms of Industry, Chicago was the"Rehabbed" buildings account for some of
fountainhead of the West, and a driving forceChicago's most architecturally interesting
in the very creation of America. Today, withand sought-after homes. Rehabbing is simply
the city of Chicago still growing, butthe rehabilitation, refurbishment and often
housing boom settling down, people arerestoration of old buildings that have fallen
wondering about the state of Chicago realinto disuse, usually for residential use
estate.(lofts). Rehabbed buildings include former
warehouses, factories, and other industrial
The fact is, while some Chicago neighborhoodsbuildings, many of which have been granted
are showing declines over the last year inHeritage status by the City. Chicago's
both asking and selling prices, other areasindustrial past has left a wonderful
of the city - notably, Des Plaines - areselection of beautifully restored loft
showing encouraging increases. And, while thebuildings, and matching neo-architectural
Chicago housing market is not as "hot" as itcondos.
was a couple years ago, it is certainly a
great place if you're looking to buy a homeAnother choice open to those looking for a
that you plan on keeping for a while (whetherhome in Chicago, is the foreclosure market.
a  home  or  a  rental property). Here's why:While this can be a tough nut to crack - and
an especially difficult for those just
GROWTH  &  "REHABBING"looking to get rich quick - it is a viable
way to save considerable money on a home.
Yes, at 3 million inhabitants (9.5 in theWhatever you choose to do, whether it's a
Chicago Metropolitan Area, or "Chicagoland"),loft, a condo, or a new family home, if
Chicago continues to grow. As both ayou're looking to buy a home in Chicago right
testament to and a symbol of this growth, thenow, the market is on your side!



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