A new 15-story apartment building has been unveiled for Printer's Row, with a total of 90 rental units, from developer LG Construction. The land is a fairly small parcel, about a quarter of an acre. The units will average around 350 square feet each and about $1,000 in monthly rent. The development is also planning to include 40 rooms as extended stay, furnished hotel-style rooms. For more, head over to Curbed Chicago here .
A new, 50-unit tower could be coming to an empty, blighted corner in Bucktown. Besides its apartments, the proposal for a new 6-story apartment building would be built on a triangular lot at 1920 N. Milwaukee Ave., less than 150 feet from the Western Blue Line stop. It would include 5,800 square feet of retail. The architect for the proposal is David Brininstool...
The towers just keep on coming; the latest news is from developer John Buck company - they've proposed a new residential tower for a site at Franklin and Illinois. The proposed tower would rise 24 stories and include up to 245 units. The property is currently owned by a Catholic Order which maintains the Assumption Church adjacent to the site. They're working with the developers to upgrade and maintain their facility as a part of the property...
There just can't be enough towers in downtown Chicago - or so it would seem. Developers are planning another tower for Lake Street in the Loop where it intersects Clark Street. It would be 83 stories tall and include up to 600 hotel rooms and 300 apartments, Crain's reports. The developers are also hoping to include a new hotel brand to Chicago, either Live Aqua or Dream Hotels. Read more at Crain's here .
News came out today that prominent Chicago developer Cedar Street has purchased the Freedom Center in West Town. Cedar Street has been behind some great rehabilitations and adaptive re-use projects. They're currently working on a micro-apartments renovation to the Bush Temple of Music on the Near North Side, for example. The West Town site is 3.1 acres at 1515 W. Monroe...
If you're interested in buying a house but have a lower credit score, mortgages have been hard to come by for the last several years. But the Federal Housing Administration (FHA) took a step last month that will relax its underwriting standard and give lenders more freedom to approve borrowers. Some estimates suggest it could add up to 100,000 new buyers to the housing market. Up to this point, lenders have shied away from borrowers with credit scores under 620...
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Two headlines this week indicated that housing is strong both nationally and at the local level. Economists studying the market argued this week that it's strong enough to handle an increase in mortgage rates, which have been at historic lows for the last several years. The report, from Reuters, surveyed 22 economists. You can read it all here ...
Michigan Avenue could be getting a bit more magnificent. A developer is proposing a new and extremely slim, 41-story tower to be built just north of Millennium Park on Michigan Ave. The tower would be a mix of hotels and residences that would offer access to some of the city's greatest amenities like Grant Park and the new Maggie Daley Park, as well as the cultural offerings of the Loop. The project, from Park Ridge developer BJB Partners, is just in the beginning stages.
This spacious residence lives like a single-family home in a stately building at the heart of it all. Over 4,100 square feet, 4 bedrooms, 4.5 baths with separate living quarters for a nanny or guest complete with second kitchen. Huge rooms throughout with tall ceilings and great light. Steps to Michigan Avenue, Lake Shore Park, and the lake front. Full amenity building with pool & grocery, Garage Parking included.
Chicago is seeing steady home price growth, according to the latest numbers. CoreLogic reports that the appreciation is moderate, but steady. Chicago home prices including distressed sales shows increases of 2.1 percent year-over-year. Excluding distressed sales, prices rose 3.2 percent. Statewide those numbers were, respectively, 2.4 and 3.5 percent. That growth is consistent with numbers across the nation. Read more at Chicago Agent Magazine here .
There isn't much detail at this point but downtown Alderman Brendan Reilly sent an email this week announcing a plan for a 23-story residential tower to replace a surface parking lot at the corner of Illinois and Franklin. Crain's reported that developer John Buck is behind the project. He's currently building a new apartment tower at 200 N. Michigan Avenue...
Justin Oliver, a trusted Urban broker and adviser to his clients far and near, is a familiar face to the Chicago real estate scene. Check out this profile to learn more about one of the industry's rising stars.
Spectacular 3 Bed / 3.5 Bath combined unit, w/panoramic & unobstructed views of Lake Michigan, Navy Pier, Columbia Yacht Club, Monroe Harbor, Dusable Harbor & Parks . Large master bedroom walk-in closet, updated kitchen with Sub-Zero fridge, new carpet throughout, neutral colors, washer/dryer in-unit...
It's a seller's market throughout Chicago but even within that context there are some neighborhoods that stood out as particularly competitive for buyers. Chicago Agent Magazine crunched the numbers for July and found that the most competitive neighborhood in the city was the West Loop where the average time on the market for a property was a mere eight days...
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Mortgage rates have dropped again, to their lowest level since May. According to Freddie Mac, the average rate on a 30-year fixed rate mortgage was 3.84 percent Thursday, down from 3.93 the week before, the lowest since May 21. 15-year fixed rates, meanwhile, dropped to 3.06 percent from 3.15. The decline was driven at least in part by market turmoil that originated in China following that country's move to modestly devalue its currency. Read more here .
According to a report out this week from RealtyTrac home sales in Chicago have hit at 8-year high. In the first half of 2015 there were 43,009 sales in the Chicago-metro area. Not only does that number represent an 8-year high, but also a dramatic increase from 2008's sales number of 31,554. It's a total increase of 36.6 percent. For more, including a chart of the 10 major metros, head over to Chicago Agent Magazine here .
The West Loop could soon be seeing some new high-end condos, if a developer is able to obtain approval for a zoning change. Taris Real Estate, based in River North, hopes to build a 24 unit, 10-story, 130-foot condo building at 900 W. Washington Blvd., steps from the popular Fulton Market. The project would include a mix of two, four and five bedroom condos, with a total of 23 parking spaces. They would be priced at the very high end with prices at $500 per square foot...
The new 22-story River North tower that is planned to replace the Chicago institution of kitsch, Ed Debevic's, is moving forward. The Chicago Plan Commission approved the plan for the tower last week. From JDL development the tower will include 251 apartments and 12,000 square feet of retail space. It's designed by Hartshorne Plunkard Architects. For more renderings, head over to Curbed Chicago here ...
