Chicagoans paid more in rent in 2014 than ever before. According to numbers from Zillow and a recent report from the Chicago Tribune, landlords in Chicago raked in more than an additional billion dollars in 2014. The figures reported by the Tribune showed that rents were up 7.4 percent to a total of $14.3 billion. Nationally the numbers showed landlords took in $441 billion, an increase of $20.6 billion over 2014...
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The West Loop will be getting a new 93-unit apartment building in the new year. Northbrook-based developer Michigan Avenue Real Estate Group has obtained an approximately $21 million construction loan for the development, which is set for a parcel at 1241-45 W. Jackson Blvd. Read more on the project from Crain's here. Photo via Alderman Ervin's Office...
New renderings emerged last week of a newly proposed supertall tower from Chicago's own Jeanne Gang that may be destined for the New Eastside. The Wanda Vista tower has been chopped down from 89 stories to 88 (supposedly due to a Chinese superstition about the number 8). Various published reports confirmed Gang is the architect...
Another day, another announcement of a downtown skyscraper for Chicago. Various media outlets reported today that the Robert A. M. Stern-designed, 67-story tower for 451 E. Grand in Streeterville was approved yesterday afternoon by the Chicago Plan Commission. The tower will be clad in pre-cast concrete and will have 350 residences, a mix of condos and rentals, 900 underground parking spaces and will include a 70,000 square-foot park located next to the building...
The Chicago Tribune is reporting on rumors that have been circulating since July that a new supertall tower is coming to the New Eastside. At 89 floors, the tower, that was originally released via the website of the Chinese conglomerate Wanda Group, would dramatically change the Chicago skyline. It would actually be constructed as three separate towers and is, reportedly, designed by Chicago architect Jeanne Gang...
The Chicago Tribune Company is considering a redevelopment of its world famous and landmark Tribune Tower on North Michigan Avenue. Built in 1925, the tower was the result of an architectural competition won by Raymond Hood of New York and has been a fixture on the skyline ever since it's construction...
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That's a fun and confusing title - asking prices are up in the Chicago area in every metric, but the increases, year-over-year, quarter-over-quarter are slowing. So the asking price increases are slowing. Data from real estate website Trulia's Price Monitor was recently released for the month of November shows that asking prices were positive but showing signs of slowing. Year-over-year pricing in November was up 9...
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A new 41-story tower has been proposed for a surface parking lot in the West Loop, located at 590 W. Madison. The tower would house a hotel and office building. Designed by Goettsch Partners, the same firm behind the tower under construction at 150 N. Riverside, the plan calls for a four-star hotel with 350 rooms and about 600,000 square feet of office space. Read more about the proposal at Crain's here...
Chicago has been making headlines all over the world for its great architecture generation after generation. The city's architects lead construction of ground-breaking projects all over the world and our locally built skyscrapers grab attention too...
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The Landmark Bush Temple of Music in Chicago's Gold Coast will soon be transformed into micro apartments by Cedar Street Companies' FLATS brand. Both Curbed Chicago and Crain's are reporting that the rents will be approachable and apartments will be sized in the 350 to 450 square foot range. Because the building is a Chicago landmark, the city's Landmarks Commission will have to review and approve the proposal...
The Near North Side is top of the heap for October 2014 . Chicago Agent Magazine crunched the numbers and found that the neighborhood was the top-selling one in the city last month. The neighborhood had a total off 190, nearly twice as many as the second and third place neighborhoods, respectively Lincoln Park with 98 and Lakeview with 96. The list shakes out a little bit differently if it's adjusted for single family homes, of course...
