THE DOMOS REPORT

The Domos Report | 13th Edition | 11/2026

Last month I made the case for Chicago, a city that has garnered an unjust reputation. I set the record straight with facts.

Chicago has the highest property appreciation in the nation
Net migration on the rise, showing not everyone is fleeing
Corporate relocations continue to be top ranking, thirteen years running
Lowest homicide rate in sixty-five years
Our city is uniquely poised to weather the climate crisis, both literally and figuratively, as it is seated on the largest body of fresh water in the world

This month I turn to what is happening in real estate—residential and commercial—where there is a good deal of news worth touting:

Hybrid-work mandates are bringing professionals back to downtown.
A $2.8 billion investment will convert six major LaSalle Street office buildings to residences, more than 4,000 units in all.
More than 300 affordable units will come from Loop conversions, as the city’s affordability requirements were strengthened.
Downtown office vacancy fell for the first time after fifteen straight quarters, from 28.6% to 28% in 2025.
Magnificent Mile vacancy has dropped to 17.5% from a high of 22% in 2022. The new arrivals include Uniqlo, Mango, Charles Tyrwhitt, Leica Camera, and a Harry Potter shop.
Water Tower is getting a $170 million makeover.
Fulton Market continues to add residential towers, hotels and retail making the West Loop/Fulton Market corridor one of the city’s most active construction zones.
Major new developments:
The former Lincoln Yards/North Branch site will become a mixed-use neighborhood of more than 3,700 homes, with retail, restaurants, offices, and a hotel along the Chicago River, being built by an experienced local developer, JDL.
The Quantum Project is a $9 billion campus on the old U.S. Steel plant on the Southeast Side, a research site for the next generation of supercomputers. PsiQuantum, IBM, and Diraq are leading it, as is the U.S. Department of Defense.
Advocate Health is building a $300 million hospital at the north end of the Quantum campus.
The 78 and McDonald’s Park is a megadevelopment along the river in the South Loop, anchored by a new soccer stadium for the Chicago Fire. Ten thousand residential units will be built on the site.
Separately, developers are filling new projects on the South Side, big and small, residential and retail, in Bronzeville, Englewood, and Pullman. There is too much to list here.
Just as important, the city is making it easier to build. Its Cut the Red Tape initiative loosens regulations while modernizing building codes. Once again, our city is rallying and meeting the challenges it has faced. There is no doom and gloom on this front, either.
Again, there is no inventory on the market. Good properties are snapped up in minutes, with multiple offers. Take that, Chicago naysayers! People want to live in our beautiful city, and there is simply not enough housing stock to satisfy the demand.
So, if you are thinking of selling, call me. I will find a relocating executive, a suburban empty nester returning to the city, or an environmentalist who wants to live near a beautiful lake, and take care of the rest.
Big Chicago cheerleader, I am.