After the great fire burned a third of Chicago nearly to the ground in two days in 1871, the city has rebuilt itself as a major world city. When rebuilding, engineers were able to redraw the layout of the city, making it a model of urban design. In addition, architects had to redesign the buildings that were being replaced, and Chicago's architecture became a model for the world.

Today, Chicago is a busy modern city with a diverse economic base. Health care is the leading industry in the city, but entertainment, education, and legal firms also make significant contributions. Although experiencing little net growth at the moment, Chicago remains a stable and healthy city.

Home-Hunting in Chicago

Chicago's homes are pricey, and only see modest appreciation. What makes the city a draw for a prospective real estate owner is the strength of the city's economy as a whole. If high property prices are discouraging, foreclosure homes can be great investment opportunities at low costs.

When banks foreclose on delinquent mortgages, they do their best to sell the property off again as quickly as they can. There are websites that contain data from collected lenders and agencies that give foreclosure listings for each city. Some foreclosure listings require subscriptions, but they are great for anyone looking to invest in real estate.