* Crain’s…
• The week ended June 15 was the second in a row when more Chicago-area homes went under contract than in the corresponding week a year ago. It was also the first time that more homes went under contract than the week ended March 16, the last week before the crisis took hold. Buyers put 4,846 homes under contract in the week ended June 15, an increase of nearly 39 percent from the same time a year ago.
• In the second week of June, the number of showings eclipsed the figure from early March by about 5 percent and was about 24 percent above showings at the same time in 2019.
• Open houses are back. Nearly 3,460 properties had open houses in the week ended June 15. That’s more than 10 times the weekly figures from mid-March through mid-April, when agents found themselves improvising ways to show open houses via FaceTime and other virtual technologies.
* But…
Homes sales in the Chicago metro area last month dropped by about 40 percent compared to May 2019, and home prices went flat, according to data just released by Illinois Realtors.
In the city proper, 1,666 homes sold in May, down nearly 44 percent from a year earlier. It’s the biggest year-over-year drop in the records of Illinois Realtors, which go back to January 2008. There’s only been one other month when home sales dropped by more than 40 percent: February 2009, in the depths of the recession following the 2008 financial meltdown. […]
The sales declines in both the city and the larger metro area were considerably larger than the nationwide figure. Home sales in May dropped by 26.6 percent across the U.S. from a year earlier, according to data released separately by the National Association of Realtors this morning. The median price of a home sold was up 2.3 percent from a year earlier. Illinois had stricter lockdown measures than in some other states.
* Crain’s…
Amazon is expanding in south suburban Chicago, with plans to open two fulfillment centers in Matteson and Markham that will employ a total of 2,000 people.
The two warehouses will be the newest additions to Amazon’s sprawling Chicago-area distribution network, which already encompasses 11 sorting and fulfillment centers, according to a statement from the company, Gov. J.B. Pritzker and Cook County President Toni Preckwinckle, who held a news conference this morning about the expansion.
The projects will add to the Seattle-based e-commerce giant’s workforce in Illinois, currently encompassing more than 11,000 people.
* But…
Heading into the official start of summer, Chicago’s tourism scene will be vastly different from years past.
There will be no major events like Lollapalooza, Chicago Pride Parade or Taste of Chicago. Skydeck Chicago, the observation deck on top of Willis Tower, is closed. So are the museums. Baseball has been canceled since March.
Already the Fourth of July weekend is shaping up to be a dud with the fireworks show at Navy Pier canceled. The event typically draws more than 100,000 people, according to Navy Pier spokesperson Payal Patel.
Without these and other events that draw millions of people to the city each year, the chances of Chicago’s tourism industry rebounding anytime soon will be slim, experts say.
But as Chicago moves forward with a phased reopening, industry insiders see a glimmer of hope. More visitors are coming from outside the state, and suburban residents are venturing downtown after weeks of being cooped up at home.
* Sun-Times…
With the coronavirus shutdown top of mind and the state’s first online sportsbook in hand, Illinois bettors have turned to footy.
Overseas soccer matches drew 78% of the money wagered Thursday on BetRivers.com with the launch of legal, mobile sports betting in Illinois through Rivers Casino.
Representatives for the Des Plaines gambling house declined to share the inaugural handle or the overall number of bets placed. But beyond the soccer-happy handle percentage, they said about 60% of the Illinoisans who created accounts to plunk money down put at least some of their money on soccer.
Most of that money — 56% — was placed on La Liga Spanish football and Real Madrid’s winning matchup against Valencia.
* But…
A leading proponent of last year’s gambling expansion bill in Illinois said he is frustrated with delays in its implementation.
State Sen. Dave Syverson, R-Rockford, said officials from Rockford submitted that city’s proposal, with a casino to be operated by Hard Rock International, to the Illinois Gaming Board nine months ago.
“The gaming board is telling us they hope to have the license approved by October, which is 12 months from the time it was submitted,” Syverson said. “It is just ridiculous that it’s taking this long for a group just to review a simple application.”
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