Nov
05

‘Echo’ Boomers Showing Interest in Chicago Real Estate

November 05, 2012

echo boomers buy chicago real estateAs gas prices rise, more and more people are moving into major metro areas. “Echo boomers,” or the children of Baby Boomers, are increasingly moving to cities in what is called the great “American infill.” And even Baby Boomers themselves are showing more of an interest in cities after the recession now that the job and housing markets aren’t as predictable as they used to be.

So why are ‘echo’ boomers especially drawn to Chicago real estate? One of the reasons Chicago has become so popular is that WalkScore, a website which calculates the ‘walkability’ of cities, placed Chicago as fourth on its list out of the top five cities in the country. According a recent U.S. Census report, the population of downtown Chicago has increased by 48,000 since 2000, which proves that the city’s walkability is certainly a major draw.

Chicago is also popular because the city is a becoming a major pillar for eco-friendly innovation. For example, Cermak Road now has photocatalytic cement, which has the ability to neutralize smog and pollution. The eco-friendly portion of Cermak Road is now considered to be the ‘greenest’ street in America.

According to the Emerging Trends in Real Estate 2013 report, Chicago ranked 24 out of the top 51 U.S. metros for real estate prospects. If the city continues to innovative and improve its walkability, that number will surely continue to rise.

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