The end of new construction

Not forever, mind you — just for the foreseeable future. The Ritz-Carlton Residences, slated for completion in 2011, will be the last new-construction condo project we’ll see in the downtown market for several years. “You can just forget” anything proposed beyond that, says Gail Lissner of Appraisal Research Counselors, “because we’re not going to be seeing those.” Lissner gave an update on downtown market trends during last week’s 2010 Economic Forecast panel, hosted by the Chicago Association of Realtors.

Related posts:

1. The alarm bells aren’t ringing
2. Turning traffic into sales – it’s not easy
3. Appraisal Research: 39 percent of downtown homes under construction remain unsold
4. 2009 – the worst year for downtown sales
5. A roadmap to the Chicago homes market

Tagged as: Appraisal Research, Downtown Loop, Market conditions, Video