See 10 Years of Chicago Real Estate Development in One Video

Sure, we could tell you we've had a busy decade—lots of construction and demolition. But it's more fun to explode it in your face, with this cool heat map and video.

KIG created the time lapse heat map video showing the rise of new construction and demolition permits issued from 2006 through April 2015. KIG data analytics officer Marc Rutzen says it gives developers a sense of what has transpired in local real estate development before, during and after the 2008 recession. Marc obtained the permits from the City’s open data portal and felt creating a time lapse heat map was more intuitive than a static map. Based on the data, the Loop and its nearby neighborhoods were ripe for development before and after the recession, but for different reasons.

Marc (pictured) says the post-recession boom in construction permits has been mostly fueled by hotel and multifamily apartment development, though nowhere near the levels of 2006-08. Based on the available data, Marc says West Town is a great investment for developers, based on land cost and building height. West Town has more vacant land as developers inch closer to downtown and the denser areas of development. Demolition, meanwhile, is active across Chicago during this time period but is at its heaviest in Englewood.

Marc is working on other data plans, including one tracking the effect of extending designated bike paths into neighborhoods with positive demographic changes farther out from the city's center. Marc believes this would be beneficial for the city and developers planning transit-oriented developments.

Click here to watch the video.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Chicago Newsletters
Related Stories

Google Delays Thompson Center Opening To 2028, Releases New Renderings

California Investor Scoops Up Amazon Warehouse: The Chicago Deal Sheet

How Crystal Lake 'Connects The Dots' To Building Complete Community

Downtown Atlanta Improvement Group Picks Food Bank Chief As Next Leader

Trump's DEI Crackdown Is Creating New Risks For Landlords That Lease To The Government

Brandon Johnson Seeks Second Term Amid Strained CRE Relationship

Prologis Acquires 69 Acres For 1M SF Chicago-Area Industrial Development

Former CBRE Exec Suing Brokerage Giant Over Age Discrimination, Whistleblower Complaint

D.C. Investor Behind The Stacks Swaps CEO For First Time In 25 Years

First LaSalle Street Reimagined Conversion Opens In Chicago's Loop

CBRE IM Buys Net Lease REIT For $1.6B, Plans More Investment

The Difference Between Service And Hospitality That Makes A Flexible Workspace A Success