Our perspective: Chicago’s commercial real estate market still hasn’t recovered from pandemic

By Hilary Gowins

02/08/2024

Editor’s note: There is a lot of information coming at you every day, but not a lot of context. The Illinois Policy Institute is launching "Our Perspective" to give you our take on topics of the day so you can better shape your take on them.

TAGS: housing market, real estate

Hot real estate market mostly missed Illinois, ranking 48th for new homes

By Bryce Hill

02/28/2022

Illinois saw new residential building permits in 2021 issued at one of the slowest rates in the nation. The rest of the U.S. saw real estate booming.

TAGS: housing market, Illinois, real estate

Illinois home building lags virtually every other state during past decade

By Bryce Hill

07/18/2021

New census data shows Illinois ranked 48th in the U.S. for new single-family home permits during the past decade.

TAGS: construction, homeownership, Illinois, real estate

Illinois is home to most seriously delinquent mortgages in Midwest

By Orphe Divounguy, Bryce Hill

05/14/2021

Data reveals 5.7% of Illinois homeowners are at least 90 days behind on their payments.

TAGS: COVID-19, homeownership, Illinois, mortgage, real estate

Chicago area up 241K jobs, rest of Illinois down 41K jobs from before recession

By Austin Berg

01/21/2020

Illinois’ uneven recovery reflects national trends, but also raises important questions about the state’s economic future ahead of a key tax hike vote.

TAGS: BLS: Bureau of Labor Statistics, capital gains, Chicago, corporate income tax, economic competitiveness, economy, graduated income tax, Great Recession, ILGA: Illinois General Assembly, Illinois, investment, JB Pritzker, labor, minimum wage, outmigration, population, progressive income tax, real estate, recession, Springfield, tax hikes, tax increase

Chicago’s 2020 budget proposal was never truly balanced

By Bill Reveille

11/26/2019

Faced with the impossible task of balancing Chicago’s budget without pension reform, Mayor Lori Lightfoot is forced to partially rely on phantom cuts and revenues.

TAGS: bonds, budget, CAFR: Comprehensive Annual Financial Report, Chicago, Chicago City Council, Chicago City Hall, constitutional amendment, CTA: Chicago Transit Authority, CTU: Chicago Teachers Union, deficit, emergency fee, homelessness, housing market, ILGA: Illinois General Assembly, interest rates, library, Lori Lightfoot, Lyft, property taxes, Rahm Emanuel, real estate, real estate transfer tax, tax hikes, tax increase, TIF: Tax Increment Financing, Uber

Lightfoot looks to Springfield for more taxing power on high-end services, home sales

By Vincent Caruso

08/23/2019

Chicago’s mayor wants permission from Springfield to impose a new tax on high-end professional services and raise taxes on pricier home sales, as the city faces down a $1 billion deficit.

TAGS: Lori Lightfoot, municipal pensions, pension guarantee, pensions, real estate, service tax, taxes