Posted Oct 16, 2006, 12:19 AM
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Registered User
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Join Date: Jul 2002
Posts: 7,003
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Well, I think its really simple. The supply in Chicago meets the demand. The most expensive cities/neighborhoods, Manhattan, SF, LA have strong NIMBY organizations that keep new supply in check. Chicago really doesnt have this, save for a few neigborhoods. And these neighborhoods are VERY expensive. Gold Coast, East Lincoln Park etc. Chicago is very developer friendly also. If Chicago follows SF's path and construction slows down, you would see prices in Chicago skyrocket.
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