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Chicago Sees Year-Over-Year Surge in Construction Starts

The value of commercial and multifamily construction starts in Chicago grew 64% through the first half of 2023, the Chicago Business Journal reported, citing data from Dodge Construction Network. The surge marks an increase from the first half of 2022, which saw spending on construction starts up 7% year-over-year, according to Dodge’s data.

Dodge valued Chicago’s construction starts through the first half of the year at about $4.2 billion, ranking it seventh among the top 10 U.S. metropolitan areas, according to the Business Journal.

The top-ranking market, New York City, saw a 31% decline in the value of construction starts in the first half of the year to $10.8 billion. In Los Angeles it was up 2% to $4.3 billion during that same time period.

Altogether, Dodge found the value of construction starts was down 10% across the 10 biggest metro areas in the U.S.


Inside The Story

Dodge Construction Network

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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