🏘️ Housing market cools off (a little)
By Sidney Madden | @sidney_madden_
🏘️ Housing Market
The city’s housing market has cooled off slightly.
The median price for a home in Chicago was $370,000 in April, down 1% from that time last year, according to the Illinois Realtors Association.
But that’s still significant because recent housing prices in the city have remained mostly flat compared to 2021.
Could that signal an end to the hot housing market? Depends who you ask.
Outside the city is a different story. Compared to this time last year, the state and national realtors associations found the median home prices increased:
➕ 4.8% in nearby counties
➕ 4.2% in Illinois
➕ 14.8% nationwide
Why are prices down in Chicago? A pandemic desire for more space, aka single-family homes, has affected the city’s condo and townhome markets, Crain’s reported.
👉 If you’ve been house hunting recently, tell us some tips! We’ll share with fellow readers. Email email@example.com, or text/call 773-780-0246.
In Other Housing News
Converting small apartment buildings into single-family homes could be more strictly regulated with a new ordinance Mayor Lori Lightfoot is set to put forward this week, according to The Daily Line.
Buyers and sellers have of course had to adjust to the changing market — but so have homebuying assistance programs, the Tribune reported.
🎶 Saba’s Chi Roots
Saba’s new album “Few Good Things” touches on joy, sadness, and loss — and City Cast’s Jacoby Cochran can’t stop talking about it.
He joined the Album ReBrews podcast to drink beers from Funkytown Brewery and talk about the Austin native’s latest release.
Jacoby and hosts Sarah Beidatsch and Zac Emry dissect songs from the album, and how they connect to the artist’s Chicago roots.
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About 60% of Illinois kids ages 5–11 aren’t vaccinated, according to the Illinois Department of Public Health. Eight counties in the state are already considered high risk for COVID-19 transmission, a category Cook County is nearing. [Tribune; NBC Chicago]
Mike Madigan knew about secret payments, newly released documents reveal. The FBI recorded the ex–Illinois House Speaker as he discussed a plan to funnel money to a former political aide. [Sun-Times]
Sky’s Candace Parker is one of Time’s most influential. The two-time WNBA champ is a “force to be reckoned with,” Dwayne Wade wrote about Parker for the magazine’s annual list. [Time]
Lane Tech baseball team won CPS championship ⚾ The North Side team beat Gwendolyn Brooks 2–1 at the city championship at Wrigley Field Monday. [Lane Tech]
✅ Guess This Chicagoan…
Monday, we gave you some clues to guess the first Black McDonald’s franchisee, and a few readers got it right!
Big shoutout to Natasha L., our swag winner, and Melissa C. for guessing Herman Petty, the barber–turned franchise owner who owned the East Woodlawn location.
Visit “Herman Petty Way,” on Marquette Road between Stony Island and Dorchester, which was named after Petty this week.