Thank you for sharing!

Your article was successfully shared with the contacts you provided.

CHICAGO—It took Jeff Benach, co-principal of Chicago-based Lexington Homes, about three years to sell the 39 Lexington Square homes he built in the south side neighborhood of Bridgeport just before the recession hit. But by this spring, everything changed. In the same neighborhood, they sold four Lexington Square2 homes in March alone. “We were pleasantly surprised,” says Benach. Thirteen of these 24 homes have been sold, and this acceleration in sales has enticed Benach to build even more new product.

According to statistics recent published by the Illinois Association of REALTORS®, a total of 16,012 homes were sold in July, an increase of 28.5 percent over July 2012. Furthermore, the median price for homes was $169,000, up 14.2 percent from the previous July. The trade group says that this marks 25 consecutive months of year-over-year sales increases.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.