"Chicago Bull" blares the cover article in the June 10, 2013 Time magazine. While the excellent piece by Kari Linderson is overall about Chicago Mayor Rahm Emanuel and the admirable job he is doing in revitalizing the city,Chicago Bull - Time Magazine it also provides investors with insight as to why the real estate market has such a positive outlook.  This is already being realized as both prices and sales are soaring in the Chicago area.

 After reading Linderson's article, one realizes that there are most likely further gains ahead for investors in Chicago real estate, particularly those with a passive long term approach.

Chicago Mayor Emanuel has does much to bring more business to the city.  Since being elected three years ago, he lured more than dozen new companies to Chicago.  With a president in The White House from the city, that obviously helps! Emanuel has also created the tech incubator at the Merchandise Mart, from which "...an estimated 225 start-ups created some 800 jobs during its first year of operation."

This has obviously not gone unnoticed by the business community.  Jeff Smisek, the Chairman and Chief Executive Officer of United Airlines, the world's biggest, stated that,"I personally think that Mayor Emanuel is just what the doctor ordered.  He is willing to take on tough issues and vested interests.  He's not daunted by them."

Along with the business climate, the school system in Chicago is also improving under Mayor Emanuel.  He is closing down schools to be more efficient and focusing on technology development courses.  Towards that goal, he has five high schools focused on a STEM curriculum (science, technology, engineering, math).  Involved in the program are such high tech behemoths as Microsoft, Cisco and IBM.  

In addition to the high schools, there are world class colleges and universities in the city and nearby.  The University of Chicago is one of the best anywhere.  Public institutions of higher learning such as the Universty of Illinois at Urbana-Champaign are well-regarded.  There are many other fine colleges and universities, both in Chicago throughout the state of Illinois.

Improvements in employment and education naturally make a city more attractive to both residents and businesses.  As a result, real estate prices in Chicago are rising.  Institutional investors such as hedge funds and private equity groups have been very active.  As detailed in another article on this site, foreign investors are piling into Chicago, too.  

The critical demographic of young people are also heading to Chicago.  In a recent USA Today article, it was reported that Chicago was the second most attractive city in the country to recent college graduates as measured by growth in those moving to the area.  So appealing is Chicago becoming that the legendary director and actor Robert Redford, who started the Sundance Movie Film Festival, "...recently announced plans for an eight-part reality sears, Chicagoland, featuring the 'tough visionary mayor'...front and center."

Publicity like that will only make Chicago real estate more appealing.  Coupled with the improvements in employment and education creates a solid foundation for the housing market in Chicago to continue to rebound.