The developers behind a new tower for a prominent South Loop site have unveiled a new design this week.
The tower, designed by Helmut Jahn for 1000 S. Michigan Avenue will be 73 stories tall and will include 307 condominiums and 199 rental apartments.
New York-based JK Equities is the developer behind the project. Jahn calls the project a "beautiful, signature design" that works to respect the historic Michigan Avenue streetwall.
Read more at Curbed Chicago here .
The numbers are in and the reigning champion of Chicago neighborhoods was again the top-seller for January 2016.
The Near North Side had 135 total sales in January with a median price of $372,500. Coming in at second was West Town with 64 sales at a higher median of $457,500. In third was the South Loop, with 55 sales at a median of $320,000.
The single family home market saw a different champ, with Portage Park with 28 sales and a median price of $245,000...
Lakeview could soon be seeing a new mixed-use development at the prominent corner of Sheridan and Broadway.
Vermilion Development has proposed a 100-unit apartment building with 2,200 square feet of ground floor retail. They plan to present the project to the community's zoning committee on March 7.
If approved, the glass and brick building could climb just over 100 feet high.
Read more at Curbed Chicago here ...
Real estate data firm RealtyTrac has determined that foreclosure activity in the Chicago-area housing market has dropped to its lowest level since 2007, a milestone that shows the local mortgage market in its greatest health in nearly a decade.
There were 4,079 foreclosure actions in the area in January, which includes default notices, REOs and auctions, down almost 12 percent from the previous month and nearly 38 percent from the previous year...
January 2016 was another strong month of sales for the dominating players in the suburban housing market.
Naperville lead the pack with 134 and was trailed by Aurora with 120 and Plainfield with 101. Naperville had the most sales even within the subcategories for attached and detached housing.
But the top ten also featured some older standbys like Des Plaines and Orland Park.
For the full story, head over to Chicago Agent Magazine here .
The latest numbers are in from the Illinois Association of REALTORS® and the news is good.
Both sales volume and price were up in January year-over-year, the IAR reported. Home sales in the nine-county area rose 4.8 percent to 6,018, which they called the strongest January market in several years. Median price was also up, 9.1 percent, to $191,000.
In Chicago, the increases were more modest: they rose 1.1 percent but media prive was up 4.5 percent to $220,000...
A new project will bring a few new high-end condos to the Fulton River District .
Ranquist Development's 836 Hubbard (located at the same address) will bring eight spacious units to the popular neighborhood with new, high-end finishes. Condo projects have taken a back seat in recent years to large apartment projects but the lack of supply could finally be bringing development activity back to this segment.
The units will be priced started at $750,000...
A new high rise proposed for River North cleared the Chicago Plan Commission yesterday bringing new apartments to what is now a surface parking lot.
The building, which would be constructed at 301 W. Illinois St., located next to Assumption Catholic Church, would include 245 apartments and 109 parking spaces, 35 of which would be reserved for the church, owner of the parking lot...
Like the suburbs? Well 17 of them recently made a list of the nation's 100 safest places to live and two landed in the top ten.
Lake In The Hills was number six of the list and Bartlett was number eight. The data was pulled together by real estate analytics provider NeghborhoodScout from more than 18,000 local law enforcement agencies...
New analysis from real estate website Zillow has found that Chicago homeowners break even on their purchase in just 2.1 years.
That number, while slightly higher than the national average of 1.9 years, is much better than competing markets in major cities like San Francisco (2.9 years), Los Angeles (4.1 years) and New York (3.1 years).
Zillow compared the median home price and median rent to arrive at the number of years you have to live in a house before breaking even.
The latest numbers are in and Chicago's top luxury neighborhoods for the month of January 2016 are:
First: Lincoln Park. The north side neighborhood had a total of 16 sales over $1 million with the average price of those sales being $2,181,642.19.
In second place was the Near North Side. That neighborhood had a total of 14 sales over $1 million with the average price of $2,140,601.29.
In third was Lakeview with six sales over $1 million, averaging $1,454,866.67...
A 200-unit transit-oriented development plan is inching forward in one of Chicago's hottest neighborhoods .
Developers Centrum Partners have proposed a plan, which would be dividied into "family-friendly" townhouses, apartments and condos near the CTA Blue Line's Division "L" stop.
The plan could also feature a private school and generous green space. A public meeting on the project is planned for tomorrow.
Read more about the project at DNAinfo here ...
The latest report from the U.S. Labor Department reveals some good news for housing.
First, construction employment saw a 4.5 percent job growth thanks to new demand for new homes. Sales of new homes have risen a total of 63.75 percent since 2011 even as the prices have risen.
And wages are also on the upswing. According to the report, wages rose a half a percentage point and the work week has grown, indicating an increase in hourly employment...
With the improving economy of the last several years, TransUnion is predicting more good news; approximately 2.2 million "boomerang buyers", so named because they were owners that left the market following the downturn, could return to the market over the next five years.
Such an up-tick in buyers would further improve the housing market...
The latest report from Crain's Chicago Business is predicting that rents will inch up in the Chicago area in 2016 by 1 to 2 percent, even as a record number of new apartments come online downtown.
Developers will complete 4,000 apartments downtown this year and nearly 5,000 next year, a record level and a nearly 28 percent increase in the total supply, according to Appraisal Research Counselors...
Chicago has been ranked as one of the top metro areas for new multifamily and commercial construction for 2015, according to a Dodge Data & Analytics report.
The metro area saw $5.9 billion in housing starts last year, behind Miami with $6.3 billion, Dallas-Ft. Worth with $6 billion and tied with Washington, D.C. New construction was up in the city by 14 percent, commercial projects were up 13 percent and multifamily projects were up 17 percent...
Chicago Starchitect Jeanne Gang's Studio Gang has revived plans for a new project in Hyde Park.
The project, proposed for a parking lot at 5540 S. Cornell Ave. and known as Solstice on the Park, would feautre 250 rental units or, possibly, 200 apartments and a 160-room hotel.
For more on the project, head over to Curbed Chicago here ...
Real estate markets across the country continued to see cash sales decline as a percentage of the total market, a sign of a continuing return to health.
Nationally, CoreLogic reported that cash sales fell 2.6 percent as a share of the market as of the third quarter of 2015 but nationally they still averaged 36.4 percent, up from the pre-crash average of about 25 percent.
The good news though is in Chicago, where cash sales made up 29...
An exciting transformation could be coming to a largely vacant public housing development in the area of Lakeview/Roscoe Village.
A team of developers from Related Midwest unveiled a proposal yesterday that would bring 1,116 residential units in a new mixed-income community ideally located along the Chicago River...
The latest numbers are in and the top selling neighborhoods for 2015 in Chicago are in predictably condo-heavy neighborhoods.
Number one: the Near North Side with a total of 2,780 sales. It's followed in second place by West Town with 1,755 sales and Lincoln Park with 1,497.
Changing it up and looking at single family home sales brings some dramatic differences.
In that case, number one is Ashburn with 446 sales, Norwood Park with 411 and Dunning with 405...
