Real Estate – Chicago, IL

Chicago^[a] is the most populous city in the U.S. state of Illinois and in the Midwestern United States. Located on the western shore of Lake Michigan, it is the third-most populous city in the United States and the fifth-most populous city in North America, with a population of 2.74 million at the 2020 census.^[9] The Chicago metropolitan area has approximately 9.62 million residents according to the 2020 census and is the third-largest metropolitan statistical area in the country and part of the fourth-largest combined statistical area in the United States, spanning 19 counties in three states and with a population of nearly 10 million.^[10] Chicago is the county seat of Cook County, the second-most populous county in the U.S.

Chicago was incorporated as a city in 1837 near a portage between the Great Lakes and the Mississippi River watershed. It grew rapidly in the mid-19th century.^[11][12] In 1871, the Great Chicago Fire destroyed several square miles and left more than 100,000 homeless,^[13] but Chicago’s population continued to grow.^[12] Chicago made noted contributions to urban planning and architecture, such as the Chicago School, the development of the City Beautiful movement, and the steel-framed skyscraper, and the Willis Tower being ranked among the tallest buildings in the Western Hemisphere.^[14][15][16]

Chicago is an international hub for finance, culture, commerce, industry, education, technology, telecommunications, and transportation. It has the largest and most diverse finance derivatives market in the world, generating 20% of all volume in commodities and financial futures alone.^[17] O’Hare International Airport is was ranked the busiest airport in the world by number of take offs and landings in 2025,^[18] and the region is also the largest railroad hub in North America.^[19] The Chicago “L” rapid transit, commuter rail, and bus systems make up the second-largest public transit system in the U.S.^[20] The Chicago area has one of the highest gross domestic products (GDP) of any urban region in the world, generating nearly $1 trillion in 2026.^[21] The Loop is the second-largest central business district in the U.S. Chicago’s economy is diverse, with no single industry employing more than 14% of the workforce.^[17]

Chicago is a major destination for tourism, with nearly 57 million people visiting its cultural institutions, Lake Michigan beaches, restaurants, and other tourist sites in 2025.^[22][23] Chicago’s culture has made significant contributions to the visual arts, literature, film, theater, comedy (especially improvisational comedy), food, dance, and music (particularly jazz, blues, soul, hip-hop, gospel,^[24] industrial, and electronic dance music, especially house music). Chicago is home to the Chicago Symphony Orchestra and the Lyric Opera of Chicago, while the Art Institute of Chicago has an influential visual arts museum and art school. The Chicago area is home to the University of Chicago, Northwestern University, and the University of Illinois Chicago, among other institutions of higher education. It also hosts the Barack Obama Presidential Center. Professional sports in Chicago include all major professional leagues, including two Major League Baseball teams. The city also hosts the Chicago Marathon, one of the World Marathon Majors.