Chicago, IL

Chicago’s market is unique in many ways. It had about as many residents in 2020 as in 1920, and the city population has been declining since residents began moving to the suburbs in the 1980s.

This trend appears to be reversing, however, and the city center is full of new condominiums and office buildings. But because population growth is low, in many cases the city’s existing facilities are adequate. It doesn’t need new schools; it needs modern schools. Because of this, renovations and improvements make up a larger sector of the market here than in cities on the West Coast.

The Chicago market is forecasted to see modest growth after a lackluster performance during the 2010s. This is primarily due to the infrastructure sector, as the city looks to extend and modernize its rail and highway network. The commercial sector is set to shrink as commerce increasingly moves online. As Chicago has long been a hub for the logistics industry, however, the market is relatively well-positioned to benefit from this shift.

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* Other structures include religious buildings, amusement, government communications, and public recreation projects.
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