Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

Chicago's West Loop has boomed during and since the beginning of the 2008 "Great Recession," transforming today into one of the trendiest neighborhoods in the city, according to a story from the Chicago Tribune.

Bordered roughly by Ashland, the Eisenhower Expressway, the Chicago River and Grand, the West Loop has seen more than 4,000 rental units added since 2008 with an additional 507 planned for next year, with more on the way. It has also seen a series of new condo and townhouse projects proposed in the last year.

For those condos that already exist, bidding wars are common. Prices in the area now range from around $200,000 on the low end to $2,000,000 for newly constructed residences.

Read the full story at the Tribune here.

Developers are getting ready to dig in on a project to replace the Lincoln Center at 2518-49 N. Lincoln Avenue with a new, 10-story mixed-use building.

Designed by Solomon Cordwell Buenz (SCB), the building, called ELEVATE Lincoln Park, from Baker Developer, will feature 191 high-rental apartments, an elevated terrace, retail on the first floor, a rooftop pool, and a three-level parking deck.

Check out more on the excited project at Curbed Chicago here.

A new office tower has been proposed for a site neighboring Union Station that would be among the city's tallest.

Developer Sterling Bay has proposed a skyscraper that would be connected to Union Station and rise to a total of 958-feet and have a total of 2 million square feet of space. 

They also announced that they are in talks with enough tenants to begin construction.

Read more at Crain's here.

What will eventually become Chicago's third-tallest building broke ground last week, with local dignitaries and others from China on hand to witness the historic moment.

The Jeanne Gang-designed tower will eventually reach a height of 1,186 feet and will include both a hotel and condo residences.  The tower is a joint venture between Magellan Development and China's Dalian Wanda Group, that country's biggest real estate company. The Vista will be their largest investment in this country.

 Read more at Curbed Chicago here.

An apartment buidling proposed for a vacant lot in downtown's Printers' Row neighborhood has been shrunk from 15 stories to 7.

If built, the proposal from LG Development would now include a total of 60 rental units down from 130 for the vacant lot at the corner of Dearborn and Polk.

The original proposal also included retail space, but LG hasn't confirmed yet how the amenities and retail would be affected by the redesign.
Read more at Curbed Chicago here.