As the article notes construction costs continue to rise and the fact that costs go up doesn’t really surprise anyone. That is why many of the clients I work with initially may think they want to build new, but when they see what the costs are to buy an existing structure plus the renovations vs building new, its more cost effective to buy today and renovate.
http://www.globest.com/news/12_1064/chicago/development/Construction-Growth-to-Continue-Costs-Rising-356092-1.html?ET=globest:e45850:809650a:&st=email&s=&cmp=gst:Chicago_AM_20150313:editorial
