Quote:
Originally Posted by 10023
Building taller buildings will not make the West Loop less expensive. Unless they are Chinese-style commie block highrises, such buildings would actually be more expensive than midrise infill. And there is still plenty of space for midrise infill.
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My in laws own multiple properties in Shanghai - 1 of them is a ~600 sq ft 1 bedroom apartment at the very end of a train line (10 minute walk) there. It's in a "commie block" building but a midrise. It's 15.5 miles from all the famous skyscrapers in the skyline. It is currently worth over $800,000 USD.
Their main home is less "commie" looking in a mid rise - only 2 units per floor and they have a 3 bedroom place. It's 50 miles from all the famous skyscrapers but still worth over $600,000. That's like paying $600,000 for a normal 3 bedroom condo in Crystal Lake.