Permit Data Shows That Chicago New Construction is Booming
Unless you’ve had your head buried in the sand, it’s pretty clear that construction in Chicago has been on the upswing in the last year. The economy has rebounded and Chicago has once again become awash in new constructionand renovations to existing structures. Construction permit data portal Chicago Cityscape has graphed out the data behind new construction permits over the last nine years, and the chart reveals that the Windy City is back on the upswing when it comes to new construction.
New construction permits were nearly non-existent during the dark years of the recession, although there were the occasional (and significant) spikes, particularly in October of 2009 and March 2013. The biggest month of 2015 so far was February where over $767.5 million worth of projects received the official go-ahead from the city to start construction. When adding up the numbers for this year, well over $3 billion worth of projects have been granted construction permits.