After so many years of economic expansion, fears of a possible recession, along with last year’s interest rate hikes, have made equity providers more cautious. This is occurring just as many developers are unveiling proposals for new mega-communities across much of Chicago. These developments would transform the city, vastly expanding the Central Business District into areas that once held railyards, industrial sites and, for decades, empty fields.
Sterling Bay is readying to launch its $6B Lincoln Yards development on the North Side, Related Midwest is doing likewise with The 78 on the Near South Side, and JDL Development and Wanxiang America are gearing up their One Chicago Square development project in River North.
At a time when profound political change has swept away leaders seen as business-friendly by many in commercial real estate, and the threat of fiscal disaster is ever-present at both the state and municipal levels, will Chicago be able to attract the vast resources needed to fuel such a massive expansion of its office and residential markets?
Bisnow wants to hear your thoughts on Chicago’s prospects to continue drawing attention from equity providers from across the globe, even if economic conditions go sour. Take this survey, and let us know what you think.
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