Chicago Condo Directory

With bad news coming out of the real estate market nationwide, it’s no surprise that many neighborhoods around Chicago are seeing a decline in demand for condominiums.

According to the most recent report from the Chicago Association of Realtors, demand across the city declined again during the third quarter.

A total 5832 condos were sold during the third quarter of this year, down almost 12 percent from the same period last year.

Some neighborhoods, such as the Near West Side saw larger drops in demand for condominiums.

Condo sales on the Near West Side were down 31 percent from the same period last year, with no end in sight for the battered neighborhood.

However, there are bright spots in the market for Chicago Condos.  The Chicago Loop saw a pronounced rise in condo sales during the third quarter.

Condo sales were up 80 percent during the third quarter.  Investors are still buying properties in the area as rising rents and low vacancy rates keep condos values from declining.

Professionals and retirees looking to move back to downtown have kept up demand for condos in the Loop.

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