Wednesday, September 06, 2006

Crain's had a quick take on Illinois construction before the holiday weekend... maybe it was foreshadowing for those of you who hit the roads.

Illinois construction spending jumps 27%
(Crain’s) - Construction spending in Illinois is up 27% since the beginning of the year, as greater spending on commercial and public works projects offset slumping housing sector construction, according to new data from McGraw-Hill Construction's research and analytics unit.

Link to Photo Source

From January through the end of July, the value of construction contracts started in the state reached $2.35 billion, compared with $1.85 billion during the same period in 2005.
Fueling the growth was a 159% increase in non-residential construction , which includes the replacement of Sherman Hospital in Elgin, an office building at 300 N. LaSalle St. and a bioresearch lab at the University of Chicago.
Another factor: an 82% increase in non-building projects, such as roads and bridges.
Residential construction spending, meanwhile, fell 35% from a year ago.

It seems to me Chicago held off 0n much of the road work untill... I don't know... last week. Lincoln Ave, Milwaukee, Lawerence, Wilson etc... all had resurfacing going on at the same time. It's a reflection of the past and ongoing development experienced on these streets.

In particular, it's been amazing to witness the redevelopment of Lawrence Avenue just east and west of the bridge. New construction condos and townhomes have sold well in this market. The road work has followed.

There are quality places to live all the way out to the Kimball line providing great choice and diversity of housing stock in the city.

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