Chicago Construction Costs Leap Highest Nationally It's a rough time for building in Chicago, with the city seeing some of the nation's highest spikes in construction prices, according to a report by Minneapolis-based general contractor Mortenson. Of the seven markets analyzed in the firm’s Q2 2022 Construction Cost Index report, Mortenson found Chicago had the biggest hike in prices, at 4%, compared to a 3.3% rise nationally. Nearby Milwaukee came in second with a 3.9% jump. Analyzing the Chicago market specifically based on the latest Federal Reserve Beige Book, the Mortenson report found “some construction and real estate activity had slowed in Chicago and Minneapolis, two otherwise healthy markets, although all markets tracked continued to experience higher input and labor costs.”Construction employment in the city barely… Read the full story here. |