New-Home Sales Surge In Suburbs, City Homes Less Than $1M Are Bright Spot

By Published On: February 5, 2021Categories: Business News, Residential Real Estate News, TJ Client NewsComments Off on New-Home Sales Surge In Suburbs, City Homes Less Than $1M Are Bright Spot

Due to the pandemic, a year-end analysis of new-construction home sales in the Chicago area played out as expected with the suburbs outperforming the city in 2020. Yet, there were pockets of bright spots for new-home sales in Chicago, including developments from Taylor Johnson clients Belgravia Group and Lexington Homes, which claimed two of the three top-selling projects last year. When Crain’s Chicago Business reached out for some perspective about these successful projects, we connected the outlet with Jon McCulloch, co-CEO of Belgravia Group, who said that while properties under $1 million sold well, the duplex penthouses listed at $1.6 million at its CA6 West Loop condominium building in the West Loop have been one of the development’s bestsellers and reflect a desire among city-based families to remain in Chicago. Urban buyers in 2020 were also drawn to the spacious three-story rowhomes with private yards, detached garages and rooftop decks at the now sold-out Lexington Village in Chicago’s Avondale neighborhood. Read more here.

 

New for-sale developments like CA6 West Loop from Belgravia Group (top) and Lexington Village from Lexington Homes were among 2020’s top sellers in the city of Chicago.

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