Welcome to Coffee with Camille, your weekly digest of Chicago real estate news. Each Friday, I round up the top news that matter most to local buyers, sellers, investors, and anyone keeping a close eye on Chicago’s neighborhood markets. This week, we’re seeing stable home prices, steady buyer activity, and continued investment in communities from the South Loop to the West Loop.
South Loop Investment Underscores Rental Market Resilience
An $81 million deal has closed on a luxury apartment complex in the South Loop, reinforcing confidence in the downtown rental sector. According to Crain’s Chicago Business, Chicago-based 3L Real Estate acquired the 28-story tower at 30 East Adams Street, further expanding its urban multifamily portfolio. This purchase signals continued strength in South Loop housing demand despite broader macroeconomic uncertainty. Read the full story here.
West Loop Housing Market Holds Strong Amid Slowdown Elsewhere
In the West Loop, the median listing price remains near $500,000, with homes averaging $391 per square foot, according to recent Realtor.com data. Although this reflects a flat growth trend compared to last year, the West Loop housing market continues to attract interest from buyers seeking proximity to downtown and Fulton Market. View the market overview here.
Citywide Market Update: Sales Pace Quickens Slightly
Across the Chicago real estate market, homes are selling faster than last year—averaging 55 days on the market, compared to 60 a year ago. The latest Redfin report also shows a modest 3.1% increase in median sale price, now at $370,000. With an average of three offers per listing, buyer competition remains moderate in many Chicago neighborhoods. Access the full report here.
Bronzeville Development Watch: Affordable Housing and Job Training Hub Moves Forward
Bronzeville is welcoming a new development with dual impact: affordable housing and community workforce training. The Thrive Exchange project, led by DL3 Realty, received zoning approval this week, as reported by Block Club Chicago. The multi-phase plan includes 43 affordable apartments and a health and wellness center at 7901 S. Exchange Ave, further boosting the Bronzeville development landscape. Read more here.
Retail Recovery Along Magnificent Mile Signals Broader Downtown Rebound
Though primarily a commercial trend, the retail resurgence on Michigan Avenue could uplift nearby residential markets like Streeterville and the Gold Coast. As detailed by The Wall Street Journal, retail foot traffic has nearly returned to pre-pandemic levels, and leasing activity is picking up. These signs of revitalization can have a ripple effect on downtown Chicago housing appeal. See the report here.
The week’s news reflects a market that is steady, not stagnant. From South Loop housing deals to Bronzeville development breakthroughs, Chicago continues to show pockets of momentum across its diverse neighborhoods.
Want to know how this affects you? Contact Camille today.
