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Chicago, IL - Chicago area construction has seen a boom this year. Commercial and residential construction reached $8.6 billion in the first 10 months of this year. That is the highest it has been since 2008!
Construction contracts are up 16.3% from last year. The peak volume was $15.3 billon within the first 20 months in 2005, according to Dodge Data and Analytics.
The construction market is the healthiest it has been in the past 5 years in Chicago, according to Anne Thompson, economist for Dodge. The boom is coming from major buildings being added to downtown Chicago and suburban locations adding mixed-use projects.