Latest Chicagoland Real Estate News:

Residential:

• Environs Continues Success: Environs, a Chicago-based builder, recently sold a Lincoln Park mansion for $7.2 million, marking another successful transaction in the luxury single-family home market.

• Housing Stock Tightening: The availability of housing in the city is becoming more limited, potentially impacting prices and buyer options.   

Commercial:

• Mall Makeovers: Five Chicagoland malls are undergoing transformations to adapt to the changing retail landscape. This includes Bloomingdale's plans to redevelop Stratford Square Mall into "The Grove."   

• Magnificent Mile Revival: The possibility of a Harry Potter-themed attraction on the Magnificent Mile is being explored as a way to revitalize the iconic shopping district.

• O'Hare Office Sale: Reyes and MDC are considering selling an O'Hare office building at a discounted price to pay off a $42 million debt.

• Evanston Parking Changes: Evanston is considering eliminating parking minimums for new developments, potentially impacting future real estate projects.

• Marriott Courtyard Sale: A Marriott Courtyard near O'Hare was recently sold for $105,000 per key.

Other:

• Foreclosure Trouble: Shaya Prager's Opal project is facing potential court sanctions in a $106 million foreclosure case.

Overall, the Chicagoland real estate market is seeing a mix of activity. The luxury residential market is strong, while the commercial sector is adapting to changes in retail and office space demand. Additionally, some developers are facing challenges with financing and foreclosure.

Please note: This is just a brief overview of the latest news. For more in-depth information, you can consult sources such as The Real Deal, Crain's Chicago Business, and Bisnow.Latest Chicagoland Real Estate News: