Urban Real Estate

Monday Real Estate Round-Up

Monday Real Estate Round-Up

A developer is planning 110 new apartments near McCormick Place.

3L Real Estate has purchased a five-story building at 57 E. 21st St., about a block west of a 1,206-room Marriott Marquis hotel and a 10,000-seat arena that will ultimately host DePaul University basketball games and other events.

They're planning to develop the warehouse into studio and one-bedroom apartments renting from $1,095 to $1,400 per month.

Read more at Crain's here.

An exciting moment is here for the West Loop: the first building permits have been issued as part of the planned $500 million renovation of the vacant Old Main Post Office.

The permits, granted to owner 601W Companies and architects at Gensler, will begin repair and restoration work on the facade. In the long term, the developers plan to convert the 2.5 million square foot Art Deco building into office space with amenities like a rooftop deck and riverfront plaza.

Read more at Curbed Chicago here.

Another new residential development may be coming to Uptown.

Developers SNS Realty Group have proposed a townhouse development for an area near Clark and Lawrence, just north of Chase Park. Designed by Axios Architects, it would include 24 residences accessed through an alleyway.

The development would also demolish two older buildings at 4740 N. Clark occupied by Community Counseling Centers of Chicago.

Read more at Curbed Chicago here.

The booming West Loop could soon see the construction of two twin condo buildings if neighbors decide in favor of supporting the project.

The buildings, designed by Booth Hanson and proposed for 1111 W. Washington Blvd. and 19 N. May St. would rise 9 stories and contain a combined total of 56 condos near the soon-to-be headquarters for McDonald's.

The developers are Chicago-based Peerless Real Estate Investment and plan to construct large units which they're describing as "family style". Each would have two parking spaces and seek up to $500 per square foot.

Read more at Curbed Chicago here.

Renters may soon have a new option in Fulton Market, if a Texas-based developer's plan for a new 300-unit tower is approved.

Planned for the intersection of Fulton Market and Ogden, Developer Trammel Crow would construct an 18-story luxury building on a surface parking lot. The total cost of the project would be about $150 million. 

Read more at Crain's here.