As we move through April, the Chicago real estate market continues to present opportunities and challenges across multiple sectors. From development shifts in Clybourn to record-setting investments on the South Side and new life in Fulton Market and Hyde Park, this week’s updates are packed with insight for buyers, sellers, and investors. At the Camille Canales Group, we’re here to break it down for you.
CHA Seeks New Developer for Clybourn & Larrabee Site
On April 15, 2025, the Chicago Housing Authority (CHA) issued a fresh call for developers for a vacant site at Clybourn Avenue and Larrabee Street, following the exit of the original development team. This initiative aims to bring a mixed-use project to the area and highlights the city’s push for thoughtful urban revitalization.
Key Takeaways:
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A major opportunity for developers in a high-potential area
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Reflects the city's commitment to mixed-income and mixed-use growth
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Could lead to residential, retail, and community space in a transitional zone
📖 Source: Crain’s Chicago Business
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River North Office Landlord Faces Foreclosure
Also on April 15, 2025, a River North office landlord was hit with a foreclosure lawsuit over a $30 million loan default. This development highlights continued distress in Chicago’s office sector, especially in areas hit hard by hybrid work trends.
What It Means for Investors:
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Office property risk remains elevated
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May lead to redevelopment opportunities in sought-after locations
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A growing case for mixed-use or residential conversion of older office assets
📖 Source: Crain’s Chicago Business
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$52 Million Investment in South Side Apartments
A group of investors dropped $52 million on two apartment complexes on Chicago’s South Side, signaling sustained interest in the city’s multifamily housing market, even amid economic uncertainties.
Why This Matters:
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Demonstrates investor confidence in affordable and workforce housing
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The South Side remains a key area for long-term rental growth
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Reinforces the strength of Chicago’s rental market despite interest rate pressures
📖 Source: Bisnow
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Fulton Market Office Building Sells for $15 Million
In more positive news for Chicago’s office market, a 50,000-square-foot office building in Fulton Market sold for $15 million on April 10. The buyer’s confidence reflects the ongoing appeal of the Fulton Market neighborhood, which continues to attract investment.
Highlights:
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Fulton Market remains a top choice for commercial development
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A bright spot in an otherwise struggling office sector
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Great location for companies seeking vibrant, walkable communities
📖 Source: RE Journals
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Bronzeville Retail Center Refinanced for $20 Million
Bronzeville continues to shine as a commercial hub. A retail center in the neighborhood secured $20 million in refinancing on April 7, showing that lenders believe in the area’s future.
Key Impacts:
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Reinforces the neighborhood’s retail revitalization
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Suggests strong foot traffic and consumer demand
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An encouraging sign for commercial real estate investors
📖 Source: The Real Deal
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Evanston Apartment Building Sells for $12.5 Million
Just outside the city, a 60-unit apartment building in Evanston sold for $12.5 million on April 8, reflecting strong suburban multifamily demand.
Why It’s Noteworthy:
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Evanston continues to attract investors seeking stable returns
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Suburban properties near Chicago are holding strong in value
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Opportunities abound for buyers targeting well-connected suburbs
📖 Source: RE Journals
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Hyde Park Mixed-Use Project Secures $35 Million Loan
A vibrant new chapter for Hyde Park: on April 11, a mixed-use development received a $35 million construction loan, paving the way for more retail and residential offerings in this historic neighborhood.
What to Know:
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Hyde Park’s growth is drawing serious financial backing
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Mixed-use projects help build walkable, community-centered neighborhoods
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Strong demand for both rentals and retail in South Side hubs
📖 Source: The Real Deal
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What This Means for Buyers, Sellers, and Investors
🏠 For Home Sellers: Market activity across neighborhoods like Bronzeville, Fulton Market, and Evanston suggests a healthy appetite for residential properties—especially those in or near mixed-use districts. If you’re thinking about selling a home in Chicago, now is a smart time to evaluate your options.
🔍 For Buyers: Whether you’re eyeing Hyde Park, the South Side, or Evanston, the data shows a steady rise in property values and buyer competition. Let Camille Canales Group help you navigate your purchase confidently.
💼 For Investors: This week’s updates underscore opportunities across asset classes—from multifamily to mixed-use. The Chicago real estate market continues to reward those with a long-term vision and local expertise.
Contact Us
If you’re ready to buy, sell, or invest in Chicago, partner with a team that knows the city inside and out. Contact Camille Canales Group today at [email protected] or call 773-377-9200.
