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GDP of the Chicago-Naperville-Elgin, IL-IN-WI MSA is nearly $693 billion, according to the Federal Reserve Bank of St. Louis, and has grown by nearly 33% over the last ten years. Work growth in Chicago is 0. 09% year-over-year with the city location house to almost 4. 8 million workers. Typical home earnings in Chicago grew by 6.

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42% over the previous 12 months. Unemployment rate in Chicago is currently 5. 4% (as of October 2021) with the leisure and hospitality, expert and company services, and construction sectors showing the fastest indications of development (BLS). Secret market sectors in Chicago consist of organization and professional services, food industry, transport and logistics, life sciences and healthcare, innovation, and manufacturing.

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Federal Government, Chicago Public Schools, City of Chicago, Supporter Aurora Health, Cook County, and Northwestern Memorial Healthcare.  l2l  and universities in Chicago consist of University of Chicago, Illinois Institute of Innovation, Loyola University, De, Paul University, and Columbia College Chicago. Over 89% of the residents of Chicago are high school graduates or higher, while more than 39% hold a bachelor's or postgraduate degree.

and the third-largest intermodal port in the world. Metropolitan Chicago is served by 7 interstate highways, many far away and commuter transport systems, and 2 global airports. Port of Chicago includes numerous port facilities including the Lake Calumet and Iroquois Landing Lakefront terminals. Property market The Chicago real estate market is hotter than ever, with rates skyrocketing due to inventory shortages and the high expense of brand-new building.

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Inventory is down to historically low levels, pressing year-over-year costs higher. Mean house worths in Chicago have actually increased by nearly 9% throughout the nine-county area, with bidding wars the standard in lots of popular communities. Zillow Home Value Index (ZHVI) for Chicago is $301,745 through November 2021. Home worths in Chicago increased by 8.

Over the last 5 years home worths in Chicago increased by over 34%. Typical listing rate of a single-family house in Chicago is $329,900 based on the most current report from  (November 2021). Average sale price per square foot for a home in Chicago is $242. Days on market (mean) is 63.