Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

Division Street in Wicker Park could soon be getting a new rental apartment tower.

RDM Development has filed an application with the city for a new, 16-story building at 1624 W. Division St. that would contain 130 apartments. Of those there would be 26 studios, 66 one-bedrooms and 38 two-bedrooms. 

Read more on the project at DNAinfo here.

Four Chicago suburbs have made the cut as among the most exclusive markets in the country.

Based on listing prices, the report placed Winnetka at 56 in the nation with an average sales price of $840,355. Lake Forest was ranked 80th with an average sales price of $756,565. Almost right behind was Hinsdale, ranked 82nd with an average sales price of $755,417. Oak Brook ranked 93rd with an average sales price of $727,860.

Read more at Chicago Agent Magazine here.

New details have recently emerged about the trio of towers that will occupy the long-vacant (until recently) Wolf Point, at the confluence of the North and South Branches of the Chicago River.

The first tower is already complete on the site (Wolf Point West) and we now know that the east building will rise 64 stories and be comprised entirely of apartments, while the south building will rise 70 stories and be a mix of offices and residences.

Read more at Curbed Chicago here.

While demand for homes has soared, construction has not kept pace and Chicago now has a huge deficit in new construction.

According to a new study from the National Association of REALTORS®, Chicago needs more than 95,000 new houses to be built in order to satisfy demand, making it the fifth worst in the country.

The problem is only worse in New York, San Francisco, Dallas and Miami.

Read more at Chicago Agent Magazine here.