Are you wondering how the Chicago real estate market is evolving this February? In today’s Coffee with Camille update, we cover key developments—from a condo sales surge at a Michigan City development to major retail and industrial deals in Chicago. As your trusted Chicago Realtor, Camille Canales and the Camille Canales Group are here to provide insights for home buyers, sellers, and investors alike.
Condo Sales Surge at SoLa Development in Michigan City
On March 3, 2025, condo sales officially launched at the SoLa development in Michigan City. This hybrid condo-hotel project, led by a Sterling Bay alum and designed by Chicago’s Koo Associates, is already making waves. With prices starting in the $400,000s and 28 of the 188 planned units under contract—including 22 pre-sales—the project is set to elevate Michigan City’s lakeside appeal. A hotel brand reveal is expected later this month, adding to the excitement around this innovative development.
- Key Highlights:
- Price Range: Starting in the $400,000s.
- Sales Activity: 28 of 188 units under contract.
- Design & Vision: Designed by Chicago’s Koo Associates to boost Michigan City’s appeal.
📖 Source: Crain’s Chicago Business
🔗 Read more: Condo Sales Begin at Michigan City’s SoLa Development
Ravenswood Retail Strip Sells for $6.6 Million
On February 28, 2025, a 16,800-square-foot retail strip located at 4800-4818 N. Damen Ave. in Ravenswood traded for $6.6 million. This fully leased property, featuring tenants such as a coffee shop and a yoga studio, highlights the robust investor interest in Chicago’s neighborhood retail markets. Strong occupancy and a vibrant community draw make this a standout transaction in the city’s retail sector.
- Key Highlights:
- Size: 16,800 square feet.
- Sale Price: $6.6 million.
- Tenant Mix: Includes a coffee shop and a yoga studio, underscoring community appeal.
📖 Source: The Real Deal
🔗 Read more: Ravenswood Retail Strip Trades for $6.6M
Industrial Lease Signed at O’Hare Submarket
Over the weekend, a 132,000-square-foot industrial lease was finalized at the O’Hare submarket, located at 9450 W. Bryn Mawr Ave. A logistics firm has taken the space, reinforcing the continued demand for industrial real estate near Chicago’s major transportation hub. Despite a slowdown in new construction starts, this deal highlights the strategic value of properties near O’Hare, ensuring that the market remains dynamic and attractive to investors.
- Key Highlights:
- Lease Size: 132,000 square feet.
- Location: O’Hare submarket at 9450 W. Bryn Mawr Ave.
- Market Impact: Demonstrates sustained demand for industrial space near a major hub.
📖 Source: RE Journals
🔗 Read more: 132,000 Square-Foot Industrial Lease Signed in O’Hare Submarket
What Does This Mean for Chicago Homebuyers and Sellers?
- For Home Sellers: With these high-profile commercial transactions underscoring strong investor confidence, now is an excellent time to assess your home’s value. The limited inventory in Chicago continues to work in favor of sellers.
- For Homebuyers: Whether you’re buying a home in Chicago or in the surrounding neighborhoods, working with a knowledgeable Chicago Realtor like Camille Canales is crucial to navigate this competitive market.
- For Investors: These developments signal a healthy, diversified market with opportunities in both residential and commercial sectors. Keep a close eye on trends as they indicate where the value is headed.
Camille Canales Group remains your go-to resource for up-to-date market insights, tailored advice, and expert guidance in Chicago real estate. Whether you are looking to buy, sell, or invest, our experienced team is ready to help you succeed.
📞 Contact Camille Canales Group today at [email protected] or call 773-377-9200.
