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Chicago Real Estate Finds Bottom ?

As I was quickly scanning through the Chicago Real Estate section of the Sunday edition of the Tribune, I wasn’t looking for anything specific, however, one thing did become fairly obvious after only a few minutes: the new construction market is still suffering-significantly. Without intentionally singling out one specific ad-type, I couldn’t help but notice that the majority of these colorful attention-grabbers all had a similar theme with the same wording -- “Massive “or “Dramatic Price Reductions.” One ad even had the headline “Prices That StillDon’t Suck,” leading us to believe that their already low and decreased pricing has been dropped once again.  There’s little doubt this is a great time to take advantage of some of the lowest real estate prices we’ve ever seen; but it’s very troubling to think how much money developers and investors are expected to lose on some of these high-profile projects. Below is a simple representation of how significant some of these price cuts actually are:

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