Cranes Indication of Chicago Development

There’s no doubt about it: Chicago is growing.

Cranes Indication of Chicago DevelopmentAs more people discover the delightful city of Chicago, including an affordable cost of living, beautiful parks, abundant cultural opportunities, and great food (deep dish pizza, anyone?), the construction industry is booming to keep up with demands.

  • Among 12 major American cities, Chicago had the highest number of tower cranes at work on new residential projects, followed by Seattle and Denver.
  • Out of the 56 active cranes in Chicago as of November 2016, more than half (31) were working on residential buildings. Seattle had 23 residential cranes, and Denver had a mere 10.
  • In 2017, over 6,500 new apartment units will open up in 33 Chicago buildings; that’s more than twice as many as units as in the previous two years combined!

So why are so many Chicago residents opting for apartment living? The answer is due in large part to the tastes and lifestyles of millennials (people born after 1980). According to USA Today, millennials have fueled a boom in luxury apartment construction for a variety of reasons. Many millennials’ careers were put on hold because of the recession resulting in a lack of savings and stability that is required to purchase a home. But it’s not just economic – millennials tend to prefer urban living, and often spend money on experiences, such as travel, rather than traditional expenditures like home ownership.

For over 30 years, Astro Crane has been providing crane service all over New England. Give us a call at 978-429-8666 to find out how we can help with your construction project, regardless of the size.