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Chicago High-End Home Sales Drop by Double Digits


The luxury home market in Chicago is on a slippery slope heading downwards. In the first half of 2019, 614 homes worth over $1 million were sold compared to 719 last year; a decline of 14.6%.

It appears that more well-heeled home buyers are biding their time in anticipation of an economic downturn in the next year or so. They’re also waiting to see what kind of policies the new Chicago Mayor Lori Lightfoot will propose.

"Everybody feels this uncertainty," says Robyn Brooks, a Berkshire Hathaway HomeServices KoenigRubloff Realty Group agent. “The past few rounds of property tax increases, and Mayor Lori Lightfoot's statement in June that there's "no question" the city will need more tax revenue to plug its $700 million budget gap, "have a lot of people saying maybe they'll wait to see what happens" before they make a move.”

Read on HERE:

Consider investing in a professionally managed portfolio of single-family homes? Please contact Harold Willig at harold.willig@springviewinvestments.com or 917-209-4452.

Harold Willig is the Manager of SpringView Investment Management, LLC, which he founded in 2012. Mr. Willig also served as HFZ Capital Group’s Chief Financial Officer and was responsible for the oversight of HFZ's Finance and Accounting team. He has over 16 years of finance and accounting experience.

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