Here's another big real estate scoop for the West Loop/Fulton Market area - two developers are planning to bring a new apartment, office and retail project to the corner of Aberdeen and Lake. Curbed Chicago first reported on it today. The 11-story development would be designed by Hartshorne Plunkard Architecture and would include 75 apartments, 140 parking spaces, 40,000 square feet of office space and 15,000 square feet of retail...
The Bloomingdale Trail, a rails-to-trails park plan (also known as the 606) that would create an elevated bike path linking Wicker Park, Bucktown, Logan Square and Humboldt Park continues to attract the attention of real estate buyers and investors, including a new plan to build 100 rental apartments in Wicker Park immediately adjacent to the trail. Developer Centrum Partners has proposed a mixed-use building for 1759 N...
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The recent sale of the residential tower at 111 W. Wacker Drive set a record for the city and caught the attention of the Wall Street Journal. The tower, which was originally conceived as a 90-story hotel/residential condo building sputtered out during construction and sat idle until it was purchased by Related, who re-designed it as a 60-story residential rental tower and completed construction. It was purchased for $328...
Crain's Chicago is reporting that it's "back to the future" in the South Loop, with developers buying up vacant parcels and large residential towers once again rising. The land rush currently in progress reminds Crain's of the years before the recession when developers flocked to the area and couldn't build projects fast enough...
Spectacular views of Lake Michigan, city, Maggie Daley Park, Millennium Park, & Grant Park from this SW corner unit! 1,580 SQ FT of upgraded city living. Wood floors in living areas & kitchen with carpeted bedrooms. Custom cabinets in 2nd bedroom which could double as an office/den. Good size laundry room w/ side by side & additional storage in pantry. Full amenity building with Indoor Pool, Exercise Room, Doorman, Walk to Parks, Lake, Restaurants...
Chicago may be destined to benefit from the potential surge in home ownership by the Millennials, a generation that has largely been absent from closing tables, but industry experts are hoping 2015 is the year they surge to the front. Nationally, the number of first-time homebuyers has declined to 33 percent, it's lowest level since 1987. Meanwhile, the demographics and life choices of Millennials are starting to push them towards homeownership...
A developer working to boost Goose Island into a tech destination similar to the West Loop and Fulton Market recently made his case that the area will be the next big thing as creative and technical companies find the downtown spaces harder to land. But to make Goose Island a destination developer Sterling Bay (they are currently proposing two major office projects) says the island needs better access for all kinds of users, pedestrians, bicycles, cars and buses...
Chicago Real Estate website Curbed has unveiled a new map charting the course of the relatively new concept in development, the Transit-Oriented Development or "TOD." The term applies to a new type of residential development, typically limited to the areas in Chicago within a few hundred feet of a train station, a TOD lowers the overall number of parking spaces required for a development and increases its overall residential density as a result...
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...
