FUR TRAPPERS TO PROFESSIONALS
Think of denizens of the Chicago River in the 1800s', and fur trappers, canal diggers and stockyard workers come to mind. But look along the river banks these days and you'll see professionals, drivers of the city's current economy, seeking an urban lifestyle with a bit of nature.
Data confirm the large numbers of residences emerging along the river. The number of housing units one block from the Chicago River between 1200 south and 1200 north has risen 85 percent to 10,332 in 2006 from 5,576 in 1996, said Gail Lissner, vice president of Appraisal Research Counselors Ltd., Chicago.
New condominiums and apartments continue to be built, a prominent example being the New East development, where 17 buildings -- including three completions -- holding 4,950 housing units are planned between the Main Branch on the north and Randolph Street on the south. Another major development north of the river in Streeterville is River East, where seven high-rises are complete and six are in planning.
Indeed, projections show the number of housing units is expected to increase 22 percent through 2009, to 12,653, Lissner said.
"The river has great attraction in the market," Lissner added. "I call it our new lake."
Think of denizens of the Chicago River in the 1800s', and fur trappers, canal diggers and stockyard workers come to mind. But look along the river banks these days and you'll see professionals, drivers of the city's current economy, seeking an urban lifestyle with a bit of nature.
Data confirm the large numbers of residences emerging along the river. The number of housing units one block from the Chicago River between 1200 south and 1200 north has risen 85 percent to 10,332 in 2006 from 5,576 in 1996, said Gail Lissner, vice president of Appraisal Research Counselors Ltd., Chicago.
New condominiums and apartments continue to be built, a prominent example being the New East development, where 17 buildings -- including three completions -- holding 4,950 housing units are planned between the Main Branch on the north and Randolph Street on the south. Another major development north of the river in Streeterville is River East, where seven high-rises are complete and six are in planning.
Indeed, projections show the number of housing units is expected to increase 22 percent through 2009, to 12,653, Lissner said.
"The river has great attraction in the market," Lissner added. "I call it our new lake."
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