Chicago Condos Down 45.3% From Peak of September 2006

Chicago Magazine reports:

From the peak, September 2006, to the data released yesterday for February 2012, Chicago-area prices are down 37.8 percent—their lowest level since June 2000. They are down 7 percent from February 2011, and down 2.6 percent from last month. The news was even bleaker for condos. From their peak in July 2006, condo prices were down 45.3 percent in February, taking them to October 1999 levels. From February 2011, they are down 10 percent, and from January 2012, down 2.5 percent.

Ouch.