Renderings were released last week of the newest addition to the New East Side skyline. Developer Magellan will be building the tower, pictured above, designed by Chicago's bKL Architecture, also behind 200 N. Michigan Ave. and Wolf Point West.
The tower will be located on a narrow strip of land between Aqua and the Blue Cross Blue Shield Building on North Columbus, between Lake and Randolph. It will include both hotel and residential components in its 642 feet.
Read more and see more renderings here.
Chicago's top-selling neighborhood in the month of September were the Near North Side with a total of 175 total sales.
Following close behind, were West Town with 134 total sales and Lincoln Park with 125. The full chart, which breaks down the top ten selling neighborhoods in Chicago is available through Chicago Agent Magazine here.
More new on Downtown Chicago, Crain's says that its most valuable commodity is dirt.
High-rise developers are working hard to build towers for apartments and condos and are paying up for available parcels.
JDL Development corp made the boldest purchase this year of nearly $70 million for a vacant Gold Coast property - translating to $4,075 per square foot.
"The really good locations are very competitive - there's not a lot for sales," JDL's president Jim Letchinger told Crains.
Read the full report here.
August sales of existing homes was off its peak in July, but sales picked up again in September and approaching normalcy, according to a report from the National Association of Realtors.
Total sales of existing homes rose 2.4 percent in September nationwide, a figure that includes single-family homes, townhouses, condos and co-ops. That pace does remain 1.7 percent below September 2013.
Read the report from NAR here and read the report from Chicago Agent Magazine here.