Say goodbye to Ed Debevic's. The famously rude 1950s-themed restaurant located at 640 N. Wells St. will make way for a redevelopment from JDL that would include a residential tower. No other information has been released as yet and JDL has declined any comment but it will join two other large tower developments within blocks. For more, such as it is, head over to Crain's here ...
Ranquist, the developer behind townhouses and rowhouses like Logan Square's Flexhouse and Flexhouse 2 is bringing a development of 48 single family houses to the Northwest Side's Irving Park neighborhood. The project, Basecamp Irving Park, is a bit of a sequel to the developer's Basecamp River North project. Ranquist is working with Stocking Urban LLC and architects Pappageorge Haymes Partners on the new project. Their developments have often sold out before delivery...
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Chicago is already in the midst of a seller's market and the spring doesn't necessarily look to be bringing much relief. Multiple media reports this week note that the city's inventory is down to about 38 percent of its peak in 2007 and dropped in volume since 2014 year over year. Sales prices are up as a result; the March average was 22 percent higher than the previous year. The suburbs are seeing similar price increases, around 19 percent...
Another real estate developer has piled into the West Loop. Crain's reported this week that Chicago architect Patrick FitzGerald has designed an apartment project for one of the neighborhood's hottest areas, adjacent to the new Morgan CTA stop. FitzGerald is planning the 81-unit building at Lake and Sangamon streets just to the west of his family's Lake Street Lofts, a vintage building they converted to condos about 15 years ago...
Chicago Agent Magazine is optimistic about housing this year and they've got three reason: • Pending home sales are at their highest level since June of 2013 and have risen four months in a row. Add to that an increase in mortgage applications and home sales could reach the highest level since 2007. • Mortgage rates are expected to stay low. While the Federal Reserve has discussed raising the interest rate, recent reports on employment have moderated the bank's stance. •
A San Francisco writer recently visited Chicago and, on returning home, posted photos with captions extolling the city's architecture. John King, a writer at SFGate.com, praised the city's combination of old and new; glass skyscrapers coexisting with brick and masonry vintage buildings and all loved by the city. Chicago, King wrote, is "the one American city that takes pride in all types of buildings, the old and new and short and tall...
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Last night Alderman Brendan Reilly held a meeting at the Radisson Blu Aqua in the New East Side to unveil the neighborhood's next great building, the Wanda Vista Tower. The name and the plans for the building are still in flux but it will rise to 1,200 feet and 93 stories and include a mixture of hotel and 405 new condominiums in the popular neighborhood. It will also, when completed in a few years, be Chicago's third tallest building and change the skyline forever...
The most recent figures paint a familiar picture of the best-selling communities in and outside of Chicago for the month of February. In the city, the Near North Side topped the list with 130 sales, followed by Lincoln Park with 71 and West Town with 66. When you remove condos, the picture changes and the top-selling neighborhoods become Ashburn with 47, Garfield Park with 26 and Portage Park with 25...
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For a quick diversion on a Friday - head over to Time Out Chicago, who has a fun list of what people who don't live in the Windy City think and what's actually true. Among our favorite misconceptions: we all have "Chicago" accents and we only eat deep dish pizza. Perhaps our favorite conception: everyone here is nice to one another. Check out the whole list at Time Out Chicago here .
A stretch of North Avenue between Ashland and the Kennedy Expressway will soon see a new residential and retail development, according to published reports. Curbed Chicago released the news today that a permit has been issued for a project at 1545 W. North Ave. It will include 30 residential units, some retail space, parking and a green roof. This is in addition to the new Audi dealership that is being pursued by Fletcher Jones , which owns land at 1521 W. North Ave...
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Chicago home prices (and those in the entire nation) saw a strong 2014 and have moved toward stabilization, according to a new report from CoreLogic that showed nationwide appreciation was at about 5 percent. In Chicago, price growth was more moderate relative to the national average, with prices rising since February 2014 a total of 3.6 percent including distressed properties and a total of 4.4 percent excluding them...
Cook County property owners now have a new alternative when it comes to filing a property tax appeal, it's called TurboAppeal. Traditionally, property owners either appeal themselves or hire a lawyer to appeal for them. In January of this year, TurboAppeal launched, aiming to apply the "big data" concept to the appeals process. "Our whole process...is being highly intelligent with real estate data," says founder Badal Shah...
A New York-based developer has announced that they're planning a 500-unit development in Pilsen, according to Crain's. The developer, Property Markets Group, lists on their website a brief description of a project they're calling PMG Windy City, which would bring 500 units of apartments to the burgeoning neighborhood on the city's southwest side...
There's a new survey out that shows the median monthly rents for Chicago-neighborhood apartments and the middle-of-the-road one bedroom is now at $1,760. The survey, which examined rents in 29 city neighborhoods showed that the Near North Side had the highest rent at $2,140 for a one bedroom and that Grand Crossing was the least expensive at $680. Median rent for a two bedroom apartment was $2,370. Year over year, rents were up 5...
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A developer has announced a plan to turn a defunct commercial building and parking lot into condos in Lake View. Developer David Trandel plans to preserve the existing building on the site at the corner of Lincoln, Southport and Wellington, with its ornate terra cotta exterior, and gut the interior and build out 10 apartments and retail inside the building and possibly on the vacant parking lot that neighbors it...
