Real estate news in Chicagoland
Homes stayed on the market for 18 days less than they did last year, at an average of 31 days.
The national homebuilder will tear down five older single-family houses to make way for the new master-planned community.
The class A property was built in 2020 and offers studios through three-bedroom apartments ranging from 622 square feet to 1,375 square feet.
Station 496, as the project will be known, will bring 123 affordable-housing units to Boulevard Northeast when it opens in 2022.
“Be patient and treat it like a full-time job.” — Tom Peters, Agent, Coldwell Banker Realty – 400N/Lake Lanier.
Under the terms of the deal, Conversant will commit up to $600 million of equity capital to fund Quinn’s growth as the developer, owner and operator of new rental homes in purpose-built communities across the Southeast.
Nationwide, the seasonally adjusted housing index rose 1.1% month over month in February and 12% year over year, up from monthly and yearly increases of 0.8% and 11.2% in January, respectively.
The boost in inventory shows signs of seasonal norms as supply starts to catch up with demand.
The deal represents a price of $223,000 per unit, or $157 per square foot.
The Atlanta real estate investment company made the hires as it embarks on the first phase of a southeastern expansion.