Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

The West Loop's development boom is continuing unabated.

The latest proposal, from Crayton Advisors and White Oak Realty Partners would see the construction of a 15-story structure with more than 250 apartments, replacing a large surface parking lot and a vintage two-story brick building along Peoria Street.

Read more at Curbed Chicago here.

The New Eastside's latest addition will soon begin construction, adding an architectural landmark and becoming one of the city's tallest structures.

The Jeanne Gang-designed super tall tower will be 93-stories tall and has just received its permits for caisson drilling, a necessary first step when constructing a skyscraper in Chicago. 

When completed, it will have both condo residences and a hotel component.

Read more at Curbed Chicago here.

Chicago Agent Magazine crunched the numbers to determine which neighborhoods had the perfect intersection of affordable housing and high quality schools. 

For the city, the top neighborhood is Albany Park's Edison Elementary, where the median home goes for $243,500. It was followed by Mt. Greenwood's Keller Elementary (median home $199,500) and West Ridge's Decatur Elementary (median home $140,000).

For the suburbs, Morris took the top spot, with it's Nettle Creek Elementary (median home value $150,500). It was followed by Aurora's Wolf's Crossing Elementary (median home value $220,000) and finally St. Charles' Wild Rose Elementary (median home value $223,500).

Read more here.

 President Obama recently signed into law a bill that will expand opportunities for condo buyers throughout the country.  

The bill will re-tool FHA condo restrictions to broaden the number of buildings where an FHA loan may be used for a purchase. It corrects a situation where, in recent years, a cumbersome re-certification process has been required in order for condominium buildings to be eligible for FHA loans for purchasers. The new bill would tweak those rules and, because of the price point and proliferation of condos, would expand access for many first time buyers.

Read more on the bill at the Chicago Tribune here.

A new proposal for the West Loop could see a dual tower development in the hot market area.

If approved, the project, which would cover an entire city block, would add 627 residences to the area, 17 and 15 stories tall. It would also add 10,000 square feet of retail space on the former site of the H2O Plus Facility, at 845 W. Madison. 

The developers behind the project are the John Buck Company, who recently built an apartment tower on Michigan Avenue and are constructing a new office tower in the Loop for CNA Financial. 

If built, the towers would have green space and feature a row of duplex townhouses, designed by the local firm GREC Architects. 

Read more about the project, and its prospects, at Curbed Chicago here.