Here's some good signs for the local economy:
"Chicago-area home prices soar in June"
August 28, 2012
(Crain's) — A key index of local homes prices surged for the second month in a row, the latest in a series of statistics indicating that a recovery in the local housing market is well under way.
The S&P/Case-Shiller index of Chicago-area single-family home prices rose 4.6 percent from May to June, according to a report released this morning. The index jumped 4.5 percent the previous month, but it is still 1.7 percent below year-earlier levels.
A 20-city composite price index increased 2.3 percent from May to June and was up 0.5 percent on a year-over-year basis, according to the report.
“We seem to be witnessing exactly what we needed for a sustained recovery; monthly increases coupled with improving annual rates of change,” David M. Blitzer, chairman of the Index Committee at S&P Dow Jones Indices, said in a statement. “The market may have finally turned around.”
In June, prices rose for the second consecutive month in all 20 metro areas the indices track. Chicago posted the third-biggest monthly gain, after Detroit, where prices rose 6 percent, and Minneapolis, 4.8 percent.
Read more: http://www.chicagorealestatedaily.co...#ixzz24r4mSUEZ
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"A new dawn for architecture firms"
The opening of three design firms downtown is raising expectations that Chicago's architecture community may be starting to revive from the torpor of the last few years.
St. Louis-based Forum Studio, Indianapolis-based Ratio Architects Inc. and Dallas-based HKS Architects have leased high-profile space and are recruiting some of the area's top professionals to work on local, national and international projects. All see Chicago as key to realizing their goals.
Chicago's architecture community—the second-largest in the nation after New York—was hit hard by the recession. Large firms cut their staffs to the bone and there were several high-profile bankruptcies and closings.
Read more: http://www.chicagobusiness.com/artic...#ixzz24r53L6ad
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