A local Chicago architecture firm has envisioned a dynamic change to a parking lot in the city's Printer's Row neighborhood.
MGLM Architects would like to see a new, mixed-use development replace the lot, at the southeast corner of Dearborn and Harrison. It would rise seven stories in height and be clad in brick and terra cotta. It would include 170 loft apartments and the ground floor retail would feature a grocery.
While the plan is exciting, it would require a change to the area's planned development.
Read more at Curbed Chicago here.
Commuters in Chicago that use public transportation have an easier time than most other cities, according to a new report.
The report out from real estate website Trulia compared commute departure and arrival times for households that use public transportation in order to determine the top 25 transit-friendly cities in America. Chicago came out number three, behind Portland and Atlanta. In fourth and fifth place were Boston and Houston, respectively.
Chicago ranked highly because of its short overall commute times, reasonable departure time and a small increase in the total number of commuters between 2010 and 2014.
Read more and see the full list at Chicago Agent Magazine here.
Sales have just begun on the next phase of a project in Chicago's storied Bridgeport neighborhood.
This phase of the project, designed by Hanna Architects and from developer Morgan Street, will add 41 new houses designed in a contemporary style, to the Riverbend Estates, so-named because it hugs a portion of the South Branch of the Chicago River.
The houses are being designed in a contemporary style to evoke the recently completed Park District Boathouse designed by star architect Jeanne Gang.
Read more about the project at Crain's here.
It's certainly an intriguing question - which neighborhoods in the city are the "coolest." And how is it quantified?
Commercial brokerage Cushman & Wakefield surveyed the country and recently released it's "Cool Streets Report" which identified four neighborhoods in the city: Wicker Park, the Fulton District, Logan Square and Bucktown.
In order to determine the relative "coolness" of these areas, the brokerage looked at the area's level of college education, walkability, Millennial population, diversity, food, music and art scene.
Read more at Chicago Agent Magazine here.
While home prices continue to rise and inventory continues to shrink, there are the first hopeful signs that affordability may return to some areas in the coming months and years.
In the second quarter of 2016, 18 percent of all U.S. housing markets were less affordable than their historic norm. Almost one in five markets, but not quite. It's also an improvement from the previous year when 20 percent of markets were less affordable.
“…the good news is that affordability is improving compared to a year ago in the majority of markets thanks to a combination of slowing home price appreciation and accelerating wage growth, along with falling interesting rates,” said Daren Blomquist, a senior vice president with the MacArthur Foundation. “The average interest rate on a 30-year fixed-rate mortgage is down 37 basis points from a year ago, while annual wage growth accelerated compared to a year ago in 72 percent of the markets we analyzed and annual home price growth slowed compared to a year ago in 68 percent of the markets, including bellwether markets such as Los Angeles County, Miami-Dade County, Brooklyn, Dallas County, and San Francisco County.”
Read more at Chicago Agent Magazine here.