In the neighborhood news category, Armitage Avenue between Bucktown and Logan Square is on tap to see a new mixed-use development just east of California. Eco Development is planning a four-story building to replace a defunct manufacturing building at 2701 W. Armitage. It would include 59 rental apartments and 10,000 square feet of retail space. For more on the project, head over to Curbed Chicago here . Rendering via Curbed...
The latest report from CoreLogic shows that home prices for the last fifteen months have shown steady, but not soaring price increases, indicating that the boom and bust cycle has moderated. In September, Chicago home prices rose 3.7 percent year-over-year while the statewide increase was 3.8. CoreLogic describes that growth level as steady and sustainable. For more, head over to Chicago Agent Magazine here .
With the recent news that new construction is at its highest level since 2008, it's a good time to look at which markets are doing the best in Chicagoland. In the seven-county area, Will County leads the way with 1,180 housing starts in the third quarter of 2015. Kane County was close behind with 1,034 and Cook County in third with 773. The three leaders were ahead convincingly - the county in fourth, Lake County, had 440 housing starts...
This just in!... New construction activity in Chicagoland is at a seven-year high, according to a report from Metro Survey. A total of 6,143 new units, including single family houses, townhouses and duplexes were started in the 12-month period ending in the third quarter of 2015, up 7.6 percent over the previous quarter. For more, head over to Chicago Agent Magazine here .
It was a super tall kind of week with new coverage on several towers that are proposed which would change the skyline in remarkable ways. A public meeting in the South Loop showed off plans for the restoration of the 254-room Essex Inn at 800 S. Michigan Ave. A 54-story tower is proposed for the adjacent site which would rise 605 feet and include 454 apartments in a mix of studios all the way up to three bedroom units...
This large 1,400 square foot corner 2 bedroom 2 bath unit with wrap-around windows features an updated kitchen with granite counters. French doors open second bedroom into living room, bringing in the sunlight and views of Maggie Daley park and Michigan Avenue skyline. Bathrooms have new fixtures and lighting, ceramic tile, and granite...
Several Chicago-area zip codes have landed on a list of the most profitable places to flip houses. According to a report from RealtyTrac, the Chicago zip code 60652 was the third most profitable in the country for flipping, with profits in the six figure range. Also among the top zip codes were 60634, 60402, 60629, 60638 and 60634 For more, head over to Chicago Agent Magazine here .
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It was a familiar story in September as the three top neighborhoods slugged it out for the title of top-seller. The Near North Side took the crown with 248 total sales with West Town in a distant second with 162 and Lincoln Park in third with 116. Adjusting for single family home sales only, Norwood Park was the top-seller with 44 sales, Garfield Ridge and Ashburn were tied for second with 42 sales...
A new 444-unit tower is all set to begin construction at the site of the former Gino's East restaurant in River North after the city officially issued permits last week. The permits cover the first phase of the building's construction for the foundation and podium superstructure. Designed by Loewenberg Architects, the new tower will stand a total of 41 stories. For the latest, check out Curbed and for additional renderings, head here .
A new high-rise is being proposed for a parcel adjacent to the Kennedy Expressway in River West, according to Alderman Brendan Reilly. A venture led by a California investor named Gray Cardiff would like to construct a 38-story, 373-unit building east of Hubbard's Cave where Halsted St. crosses the expressway. The building would include 158 parking spaces and would be just south of the K2 apartments that were developed by Fifield Companies a couple of years ago...
Home sales in the Chicago Metro area rose modestly in September according to the regular seasonal cycle as summer gives way to fall. The Illinois Association of Realtors reported that sales in the nine-county area rose 5.3 percent year- over-year in September, though they were down 11.5 percent from the previous month. Median prices continue to rise, however, up 6.4 percent from the previous year to $205,570. For more, head over to Chicago Agent Magazine here .
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Chicago is among the top cities for Trick-or-Treaking. According to Zillow the city ranks sixth in the nation with other top cities including Denver, Seattle, Minneapolis, San Francisco, Charlotte and Dallas. But even within the city, a few neighborhoods stand out. The best in Chicago, per the report, are: 1. Ravenswood Manor 2. Roscoe Village 3. Sheffield Neighbors 4. Sauganash 5. North Mayfair For more, head over to Chicago Agent Magazine here .
A new rental and retail development will soon be coming to Division Street in Wicker Park. The six-story building, from Centrum Partners, received its permit last week and could start construction at any time. It will bring 60 new rental apartments and group floor retail to the already booming area. For more on the project including renderings, head over Curbed Chicago here .
The developers behind the Vista Tower, a new Jeanne Gang-designed residential building being proposed for the New Eastside, have set the skyscraper at 93-stories tall (1,144 feet) making it among the tallest in the city. A second public presentation on the tower will be held on Oct. 26 by Magellan Development Group and China's Wanda Group at the second-floor ballroom of the Fairmont Chicago Hotel, 200 N. Columbus Dr. For more, head over to Crain's here .
Median family home sizes are continuing their rise post-recession , according to the U.S. Census Bureau's Survey of Construction. This year the median size for a new single family house is 2,450 square feet. That's the second highest average since 2009. The data divided the U.S. into nine sections and determined a median square footage in each one...
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