Say goodbye to Ed Debevic's.
The famously rude 1950s-themed restaurant located at 640 N. Wells St. will make way for a redevelopment from JDL that would include a residential tower.
No other information has been released as yet and JDL has declined any comment but it will join two other large tower developments within blocks.
For more, such as it is, head over to Crain's here.
The CHA formally unveiled the full proposal for the redevelopment of the Near North Side parcel that was formerly home to the Cabrini-Green public housing development.
The large parcel, just under 65 acres, will soon be home to between 2,330 and 2,830 new residences developed in three phases.
For more, head over to Curbed Chicago here.
Ranquist, the developer behind townhouses and rowhouses like Logan Square's Flexhouse and Flexhouse 2 is bringing a development of 48 single family houses to the Northwest Side's Irving Park neighborhood.
The project, Basecamp Irving Park, is a bit of a sequel to the developer's Basecamp River North project. Ranquist is working with Stocking Urban LLC and architects Pappageorge Haymes Partners on the new project.
Their developments have often sold out before delivery. These will start at $479,900 with the first ready for new owners this summer.
For more renderings, head over to Curbed Chicago here.
Chicago is already in the midst of a seller's market and the spring doesn't necessarily look to be bringing much relief.
Multiple media reports this week note that the city's inventory is down to about 38 percent of its peak in 2007 and dropped in volume since 2014 year over year. Sales prices are up as a result; the March average was 22 percent higher than the previous year.
The suburbs are seeing similar price increases, around 19 percent.
So while all signs are that buyers will be for stiff competition this year, there are also indications that the shortage of inventory won't likely let up much. Substantial numbers of homeowners still aren't in a position to sell: 25 percent are still underwater and 17 percent can't afford to sell due to the transaction costs.
For more, check out Crain's here, Curbed here and the Sun-Times here.
