Midwest City Scoop: Construction Starts in Chicago
Value of new construction contracts expected to increase 5% this year
Gains are expected for the nonbuilding and residential sectors, while non-residential weakens.
City Grill
Michael J. Meagher
President
James McHugh Construction Co.
“There are three major headwinds right now. Of course the pandemic and the civil unrest that Chicago experienced are one,” Meagher says. “Then there’s real estate taxes, and then the affordable housing requirements for developers. Any one of those is challenging for construction, but all three occurring make it really challenging. Labor costs are not necessarily going down, and material prices haven’t necessarily gone down either. These factors are going to be really key. Busy markets are industrial and affordable housing right now.”
Firm in Focus
James McHugh Construction Co.
1737 S Michigan Ave., Chicago
President: Michael J. Meagher
Employees: 500
Founded: 1897
Recent Project: McHugh has completed the renovation of the Four Seasons Hotel Chicago, part of the 900 North Michigan skyscraper. It is the most extensive renovation of the hotel since its 1989 opening.
