Here's another big real estate scoop for the West Loop/Fulton Market area - two developers are planning to bring a new apartment, office and retail project to the corner of Aberdeen and Lake. Curbed Chicago first reported on it today.
The 11-story development would be designed by Hartshorne Plunkard Architecture and would include 75 apartments, 140 parking spaces, 40,000 square feet of office space and 15,000 square feet of retail.
The building will also be LEED certified and include an 8,100 square foot green roof.
The development does need a zoning change so it's just proposed at this point.
For the full story including more renderings, head over to Curbed Chicago here.
Image via Curbed Chicago.
DNAinfo reports that a Hyde Park couple is being honored for their restoration of a dilapidated home in the neighborhood's first planned community, the Rosalie Villas District.
The couple purchased the Queen Anne-style home at 5735 S. Harper Ave. in 2008 which, at that time, was mostly obscured by overgrown trees and seemed held together by tar paper and greenery.
Their restoration of the house, which can't be exactly deemed historic, still gives an extraordinary first impress and the Hyde Park Historical Society has decided to honor them with the Marian and Leon Despres Preservation Award.
For the full story, and before and after images, head over to DNAinfo here.
Good news for the housing market - the steam it has picked up over the last few years have returned enough equity to the market that those on the lowest tier have seen enough value restored that they can sell or move, House Wire reports.
Home values are up 6.8 percent, they reported and the lowest-value homes that were hit hardest have finally begun to climb back up.
"In many ways, for the housing market to fully normalize, it has to start at the bottom, Zillow Chief Economist Stan Humphries told Housing Wire.
And Zillow is also predicting that in 2015, the Millennials will outnumber Generation Xers in buying homes.
For the full story, head over here.
And finally, AP is reporting that there's great news in the home building sector: in 2014 it saw construction activity at the same levels during the peak of the housing boom just under a decade ago.
The U.S. Commerce Department has reported that an unusually warm December, which saw a 4.4 percent increase in construction from November, is responsible for the jump.
For the full story, head here.
