A new, 50-unit tower could be coming to an empty, blighted corner in Bucktown.
Besides its apartments, the proposal for a new 6-story apartment building would be built on a triangular lot at 1920 N. Milwaukee Ave., less than 150 feet from the Western Blue Line stop. It would include 5,800 square feet of retail. The architect for the proposal is David Brininstool.
"If there is any place for a tall building, it's right there," Philip Edison, chairman of the Bucktown Community Organization told DNAinfo.
Read more on the proposal here.
The towers just keep on coming; the latest news is from developer John Buck company - they've proposed a new residential tower for a site at Franklin and Illinois.
The proposed tower would rise 24 stories and include up to 245 units.
The property is currently owned by a Catholic Order which maintains the Assumption Church adjacent to the site. They're working with the developers to upgrade and maintain their facility as a part of the property.
The proposal still must have the approval of Alderman Brendan Reilly.
For more, head over to DNAinfo here.
There just can't be enough towers in downtown Chicago - or so it would seem.
Developers are planning another tower for Lake Street in the Loop where it intersects Clark Street. It would be 83 stories tall and include up to 600 hotel rooms and 300 apartments, Crain's reports.
The developers are also hoping to include a new hotel brand to Chicago, either Live Aqua or Dream Hotels.
Read more at Crain's here.
News is out that the prominent Chicago developer Cedar Street has purchased the Freedom Center in West Town.
Cedar Street has been behind some great rehabilitations and adaptive re-use projects. They're currently working on a micro-apartments renovation to the Bush Temple of Music on the Near North Side, for example.
The West Town site is 3.1 acres at 1515 W. Monroe. Cedar Street plans a mix of apartments and retail space for the project, which formerly housed the non-profits community center and housing complex which has since relocated further west to Humboldt Park.
The sale is expected to close next month.
Read more at Crain's here.
If you're interested in buying a house but have a lower credit score, mortgages have been hard to come by for the last several years.
But the Federal Housing Administration (FHA) took a step last month that will relax its underwriting standard and give lenders more freedom to approve borrowers. Some estimates suggest it could add up to 100,000 new buyers to the housing market.
Up to this point, lenders have shied away from borrowers with credit scores under 620. But with the new rules, the scores are judged, not just on the strict number, but also on the average score for a particular geographic area.
Read more at the Chicago Tribune here.