A new tower rising in the hot West Loop is climbing fast and heading towards its August opening date.
Once it's reached its final 30-story height and finished inside, the tower, located at 1035 W. Van Buren and now called "Landmark West Loop" will bring 300 luxury apartments to the neighborhood. Developed by Related Midwest and designed by Chicago-firm GREC and New York-based Adjmi Architects. It will have 300 parking spaces and a new retail space on Van Buren...
A new development proposed last year for Uptown has been redesigned and recently won aldermanic approval.
The plan will replace a car wash at 6145 N. Broadway with a new six-story mixed-use building with first floor retail and a total of 105 new apartments, most of which will be one bedrooms and studios. It was originally designed as a 187-unit building that was more than 80 percent studios...
Chicago saw a dramatic 2016 when it came to the new construction market, seeing more than double the activity of 2015.
According to the latest numbers out from Dodge Data & Analytics, Chicago saw a total of nearly $890 million in new construction investment for the year ending January 2017, an increase of 114 percent. That gain makes Chicago among the most active new construction markets in the country.
Read more at Chicago Agent Magazine here .
It seems that the condo market is reviving - the latest proposal is a new 33-unit development planned for Noble Square.
Designed by architect John Hanna, the development will replace an Ace Hardware at 1011-1013 N. Ashland, giving it the name of "Ace on Ashland." The development team, led by Gary Mikhaylov of GNP Development, has officially received its construction permit.
Read more at Curbed Chicago here ...
A new 15-story tower has been proposed to replace a former auto body shop at the corner of Erie and LaSalle in River North
From developer Sedgwick Properties, "The Bentham" will incldue a total of 31 residences starting at $1.3 million. It's expected to include amenities such as a 15th-floor pool, sun deck, fitness center and, of course, 24-hour concierge.
Read more at Curbed Chicago here .
Traditionally, Chicago has seen a quiet marketplace throughout the winter months; however, the latest numbers indicate that both the number of sales and prices were up in January.
In Chicago home sales were up 9.3 percent compared to the previous year. Prices were also up by a substantial amount, 12.4 percent from 2016...
It's been clear for the last couple of years that Chicago's Northwest Side, particularly along the Milwaukee Avenue Corridor, is booming.
A new map surveys the construction and shows that the area from Grand Ave. north to Logan Square will see a total of 2,252 new apartments, 81 homes for sale, and 89 new hotel rooms...
The new year came in with a bang, as housing market data indicates a strong January in Chicago-area home sales. Matt Silver, partner with Urban Real Estate and president of the Chicago Association of REALTORS, gave his insight to Crain's Chicago Business on just what this means for buyers and sellers in today's market. Check out the entire article here .
The latest numbers are in and some familiar names once again top the list of best-selling Chicago neighborhoods.
With 154 sales, the Near North Side was the clear leader, followed by Lincoln Park with 80 sales, which edged West Town's 79 sales.
As usual, when adjusted for single family homes, the leaders are completely different. Ashburn lead the pack with 33 sales, followed by Austin with 28 and Norwood Park with 28.
Read more at Chicago Agent Magazine here .
A condo proposal for River North has recently sought approval from the Chicago Plan Commission, the first step in the approval process before construction can begin.
Planned for 360-66 W. Superior, developer Ascend Real Estate Group is seeking approval for a 34-unit condo building in 12 stories with 63 parking spaces. Designed by FitzGerald Associates Architects, it would replace a pair of low-rise retail buildings.
Read more at Curbed Chicago here ...
The latest numbers are in and the top-selling suburb for the month of January 2017 is Naperville, with 131 sales.
The perennial favorite in the Western Suburbs beat out its competitors of Aurora, placing second with 119, and Joliet, which beat out Plainfield for third place with a total of 111 sales.
Check out the full list at Chicago Agent Magazine here .
The latest numbers confirm it; buying is still better than renting in most areas of Chicago.
In the most densely populated county, Cook County, it's better to buy - it takes just over 30 percent of the average wage to afford a house, but just over 31 percent to rent the average home.
In Lake County, however, it's cheaper to rent than to buy - it takes about 34 percent of the average salary to buy but about 28 percent to rent.
Read more at Chicago Agent Magazine here .
Two new reports show that Chicago's rental affordability is somewhere in the middle of the pack both nationally and globally.
Nationally, Chicago is 8 th in overall rental affordability - rental costs average $2.49 a square foot, with the median individual apartment for a single month renting right around $1,200...
The latest numbers show that fully one third of Chicago-metro area home buyers in 2015 were single, a large surge that has been growing over the last ten years.
The 2015 figure, which shows single buyers aged 25 to 34 made up 33.8 percent of buyers in the Chicago area, is a 9.2 increase from 2005. Part of the reason the number is so high in Chicago is that the city is among the most affordable places in the nation to buy and it runs counter to the national trend...
A Hyde Park high rise in the works for nearly a decade is officially cleared to reach a height of 26 stories.
Designed by Chicago Architect Jeanne Gang, Solstice on the Park has been under construction for its foundation and the first four floors of the rental tower at 1616 E. 56th St. The total cost of the project is ultimately expected to cost more than $85 million...
New high-end row houses will soon be coming to an empty lot at the corner of Clark and Chestnut, moving forward after a year's apparent delay.
A building permit has just been issued for seven historically-inspired stone row houses from Col. Jennifer Pritzker's Tawani Enterprises. They're designed by Chicago firm Booth Hansen and will likely be marketed as rentals.
Read more at Curbed Chicago here .
A construction boom that Chicago has been riding for the last several years will reach a new milestone this year: more than 6,000 new apartments are expected to be brought to market in 33 new buildings.
That number would be equal to the total number of new apartments constructed in the last two years combined and are probably attributable to hot areas like the West Loop, the Milwaukee Avenue corridor and, of course, the Loop and South Loop...
The large and ambitious Riverline project, planned for a large parcel on the Chicago River's south branch, is starting to take shape. The largest buildings of its first phase received construction permits today.
The "Ancora" will eventually rise 28 stories and include 452 new apartments, an amenity deck and 230-car garage.
The first phase of the project will also include a second tower, the 18-story "Current", nine townhouses, and 3...
The Vista Tower is moving right along and will one day change the face of Chicago, and especially the New Eastside.
Last weekend, workers on the site poured the concrete mat that will one day form the lowest point in the supertall skyscraper.
Read more here at Curbed Chicago .
Plans for a large West Loop apartment development have broken cover and it could bring hundreds of new residents to the booming neighborhood...
Plans for a large West Loop apartment development have broken cover and it could bring hundreds of new residents to the booming neighborhood.
The plan, proposed by the John Buck Company Lendlease, and from GREC Architects, would bring 586 new residences, 14 of which would be townhouses, and 10,000 square feet of retail space to the former site of the H20 Plus Company building at 845 W. Madison...
