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I work on the west side of Chicago--about 8 blox west of Greektown for those of you that have been here. Every industrial building torn down turns in to condos. Starting at 350K for a studio. The building directly north of us is gone and 67 condos are going up. 63 of them are sold already on spec--it's still a dirt lot and they start at 550K. We are sitting on the last 2 contiguous acres in the West Loop. No bubble here--yet. Word here is that once it starts slowing down, developers will immediately stop pursuing new developments.
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