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August 2016 – Special Regional Section: Chicago

There are 40 high rises under construction in Chicago, including nearly 30 at least 20 stories and approximately a dozen skyscrapers of at least 400 ft.[1] Since this information was released in March, several towers have been completed and several more begun. Apartment construction is leading the way. Shawn Ursini, data researcher at the Chicago-based Council on Tall Buildings and Urban Habitat (CTBUH), observes:

“It’s an absolute boom in terms of rental-apartment construction. The market is white-hot. There are 4,000 apartments completing construction in 2016 and another 4,400 in 2017, with numerous proposals even further out. With more than 90% occupancy, the absorption is there, and the financing is there. I wouldn’t say veteran developers were totally surprised by it, but it goes perhaps even deeper than they could have imagined.”

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Online Extras

In addition to selected U.S. patents, this month includes:

Elevator World Turkey