A new 58-unit building is coming to a prominent Gold Coast block, the southwest corner of Bank and Lake Shore Drive.
The lot had originally been pitched as the site of a 40-story high-rise, but opposition from local neighbors has resulted in a smaller project. It will ultimately rise 8 stories, with 47 parking spaces from developer Draper & Kramer...
The old saying that all real estate is local or that location is everything is never more true when trying to determine whether a market is "hot" or "cold."
The Chicago Tribune recently broke down a list of factors that buyers and sellers should determine to decide what kind of market they're in when they enter into the process of buying or selling...
Mortgage rates are rising in the aftermath of the presidential election and show no signs of abating, according to new research from Freddie Mac.
The average 30-year fixed loan last week was 4.03 percent, up from an average 3.57 in the days following the election, the first time in almost two years it has exceeded 4 percent.
Read more at Chicago Agent Magazine here ...
The latest numbers on Chicago's top-selling suburbs reflect the seasonal decline in sales but still show the top two leading the race.
Naperville had the largest number of sales, with 141, edging Aurora's 140 sales. Both saw steep monthly declines, respectively 26.56 and 29.65 percent. In third place was Elgin, with 100 sales, a 19 percent decline...
A new analysis shows that Chicago is the top real estate market for investors in the entire country.
Chicago's cap rate, a shorthand measure for the expected return on real estate investment, has risen 18.3 percent, 3 points more than any other market in the study by investment and management firm HomeUnion. The study also noted that the city's median single family home price of $128,000 makes the city the most promising investment market in the United States...
Urban Real Estate partner Matt Silver talked to the Chicago Tribune about the recently announced increase in loan limits in various markets by the Federal Housing Finance Agency, including Chicago. While housing advocates like the Chicago Association of REALTORS, where Silver is serving as president, have sought higher limits over recent years, the increase is notable progress. Read the entire article on Chicago Tribune .
The latest numbers are in and Chicago's top-selling neighborhood for October of 2016 was the Near North Side, which saw a total of 124 sales that month.
In second place was West Town with 104 sales and and in third Lincoln Park with 82 sales.
Single family homes, as usual, looked completely different. Garfield Ridge sold the most with 33, closely followed by Ashburn with 31 and in third, Dunning, with 26 sales...
Mortgage rates have been rising recently, following the end of a contentious and unprecedented presidential election.
Freddie Mac said last week that the average rate on a 30-year fixed mortgage is now at 4.03 percent, the highest rate since July 2015 and up from the previous week's 3.94 percent. The 15-year rates have climbed to 3.25 percent from 3.14 percent last week...
According to the latest numbers, sales in the Chicago-metro area declined in October.
For the month, sales were down 6.3 percent from the pervious year and 12.91 percent from the previous month, while the median price rose 8.1 percent to $216,250.
Geoffrey J.D. Hewings, the director of the Regional Economics Applications Laboratory at the University of Illinois, told Chicago Agent Magazine that many factors contributed to the decline...
For everyone excited to see Chicago's newest supertall skyscraper come to life and climb skyward, the wait will be long but work is definitely progressing to deliver this skyline-changing masterpiece to life.
Since the Jeanne Gang-designed tower officially broke ground two months ago, workers have been making progress on the Vista's foundation, a process that should take about eight months in total before allowing the tower to rise skyward...
A long-simmering plan for a large redevelopment in Lincoln Park has re-surfaced again.
Envisioned as a replacement to the closed Tag Furnishings outlet building in West Lincoln Park at Wrightwood and Hermitage, new renderings have broken cover that add a name: "Norweta Row."
The two-building project would be a total of 76 units, down from an original proposed 105 and a mix of condos and rental units...
Could Ravenswood soon be seeing a new transit-oriented development (TOD)?
Developer/architect Wilkinson Design is looking to redevelope an empty lot in the North Side neighborhood for a four-story mixed-use building that would include 2,300 square feet of retail space and nine apartments at 4540-42 N. Ravenswood.
If approved, it would feature the unconventional material of corrugated metal siding and would need an up-zoning to proceed...
A new apartment building coming to Bucktown is taking shape beside the popular 606 trail and some new renderings are offering the curious a sneak peak at what the final project will look like.
Dubbed Centrum 606, the building is located at 1767 N. Milwaukee and will ultimately feature 100 apartments and an 18,000 square foot Aldi grocery store.
Read more and see additional renderings at Curbed Chicago here .
A new project, the "East Village Lofts", will soon be coming to Ashland just south of the Division Blue Line stop.
What makes this project unique is that it reuses the facade of the 1920s-era Art Deco church. Located at 1056 N. Ashland, when completed it will feature 34 apartments, a mix of studio, one and two bedrooms.
Read more at Curbed Chicago here .
The election of Donald Trump as president of the United States surprised a lot of people - what's still up in the air is what his presidency will mean for many sectors of the economy, including real estate.
Late in the campaign, Trump proposed increasing the standard deducation for couples filing together to $30,000 up from $12,600 and for single filers up to $15,000 from $6,300...
Could appraisers become a thing of the past?
Mortgage giant Freddie Mac recently announced plans to do away with traditional appraisals on some home loans, instead employing a valuation system that would be free of charge to all the parties in the transaction and relay data on comparable sales rather than in person reviews of individual properties.
Freddie hopes that the move will not only save money but will also cut down on closing delays related to appraisals...
A new luxury West Loop condo development is currently under construction, joining a slew of new projects in various stages from approval to construction.
The new CA Washington development has just received approval from the city to finish its six-story building at 27 N. Aberdeen. It will ultimately feature 69 total, 2,000-square-foot three bedroom, three bath condos...
Developers have changed up the design for a transit-oriented development adjacent to the Belmont Red Line stop in Lakeview.
DW Properties hopes to build a three-story building just east of the stop at 945 W. Belmont. The new building, designed by NORR Architects would feature 33 units, retail on the ground floor and a rooftop deck. They recently presented the revised plans to neighbors and are seeking approval to move forward.
Read more at Curbed Chicago here .
A skyscraper under construction in Streeterville has officially received its permit to complete its vertical construction.
The building, designed by Pappageorge Haymes Partners and developed by Chicago-based Juptier Realty Company, will rise to a total of 48 stories at 456 N. Park and will include 444 luxury rentals and just under 12,000 square feet of retail space.
Read more on the project at Curbed Chicago here .
Anyone can see that downtown Chicago's skyline is dotted, not only with a great many tall buildings, but, recently, a series of towering cranes.
At a ground-breaking today to celebrate the high-rise project "One Bennett Park" at 451 E. Grand Ave., Mayor Rahm Emanuel said that the crane for that building is the 48th to operate in Chicago this year alone...
