Chicago real estate news, notes & opinions.
UrbanOrchard & Nookies Make Andersonville/Edgewater Debut TODAY | September 12, 2011
Connors Park Argo Tea Plan Makes Sense Despite Strong Opposition | September 12, 2011
Just Added to newchicagoliving: 6 N. Michigan Avenue; 565 W. Quincy, 303 W. Ohio Street, 636 N. Michigan Avenue | September 10, 2011
Just added to the NewChicagoLiving new construction real estate pages are the condos at 6 N. Michigan Avenue in Chicago’s Loop; 565 W. Quincy in the West Loop; 303 W. Ohio Street in River North; and 636 N. Michigan Avenue (The Ritz-Carlton Residences) in the Streeterville neighborhood.
6 N. Michigan Avenue: As the original home of Montgomery Ward, and once the tallest building in the world, 6 N. Michigan Avenue was recently renovated in 2008 and is comprised of over 120 magnificent condominiums. The original charm and elegance of the building exterior is unmatched and the modern and updated amenity package included within each condo and the building itself rivals nearly any other high-rise new construction project in downtown Chicago.
565 W. Quincy: Loft living is certainly made affordable at 565 W. Quincy. With the prices having dropped up to 30% off original developer pricing, this building is especially attractive for first time homebuyers in Chicago. The community room at 565 W. Quincy, dubbed the “Q Room” is complete with a private bowling alley, putting green, movie theatre, fitness center and over 11,000 square feet of space. Jr. 1 bedrooms start at just $159,900 and 2 bed/ 2 bath condos are just under $300,000.
303 W. Ohio: Having just released new prices (see updated price sheet below), the contemporary glass façade of the Silver Tower in River North is attracting a variety of Chicago homebuyers looking for an ultra-sleek building with a reasonable price tag. The sky lobby with a common area terrace and community room offers phenomenal skyline views and is the perfect place to impress your houseguests. Interior features that tend win over buyers are the massive floor-to-ceiling windows, high-end KitchenAid stainless steel appliance package and all marble baths with separate glass showers.
636 N. Michigan Avenue (Ritz-Carlton Residences): Acting as one of two major Lucien Lagrange Development projects underway in Chicago (the second being Lincoln Park 2520), the Ritz Carlton Residences are re-defining luxury on Chicago’s most celebrated thoroughfare, Michigan Avenue. The high-end building at 636 N. Michigan Avenue will house 88 luxury residences and also a full-floor private club, reserved for condo owners. The Landmark Club will offer a full bar, a private meeting/dining room, a screening room, pool tables and a state-of-the-art fitness club and spa. Along with Lucien Lagrange Development, a team of outstanding and established interior designers have chosen a variety of condo finishes that will rival nearly any other luxury building in both Chicago and the United States combined.
6 N. Michigan Avenue: As the original home of Montgomery Ward, and once the tallest building in the world, 6 N. Michigan Avenue was recently renovated in 2008 and is comprised of over 120 magnificent condominiums. The original charm and elegance of the building exterior is unmatched and the modern and updated amenity package included within each condo and the building itself rivals nearly any other high-rise new construction project in downtown Chicago.
565 W. Quincy: Loft living is certainly made affordable at 565 W. Quincy. With the prices having dropped up to 30% off original developer pricing, this building is especially attractive for first time homebuyers in Chicago. The community room at 565 W. Quincy, dubbed the “Q Room” is complete with a private bowling alley, putting green, movie theatre, fitness center and over 11,000 square feet of space. Jr. 1 bedrooms start at just $159,900 and 2 bed/ 2 bath condos are just under $300,000.
303 W. Ohio: Having just released new prices (see updated price sheet below), the contemporary glass façade of the Silver Tower in River North is attracting a variety of Chicago homebuyers looking for an ultra-sleek building with a reasonable price tag. The sky lobby with a common area terrace and community room offers phenomenal skyline views and is the perfect place to impress your houseguests. Interior features that tend win over buyers are the massive floor-to-ceiling windows, high-end KitchenAid stainless steel appliance package and all marble baths with separate glass showers.
636 N. Michigan Avenue (Ritz-Carlton Residences): Acting as one of two major Lucien Lagrange Development projects underway in Chicago (the second being Lincoln Park 2520), the Ritz Carlton Residences are re-defining luxury on Chicago’s most celebrated thoroughfare, Michigan Avenue. The high-end building at 636 N. Michigan Avenue will house 88 luxury residences and also a full-floor private club, reserved for condo owners. The Landmark Club will offer a full bar, a private meeting/dining room, a screening room, pool tables and a state-of-the-art fitness club and spa. Along with Lucien Lagrange Development, a team of outstanding and established interior designers have chosen a variety of condo finishes that will rival nearly any other luxury building in both Chicago and the United States combined.
newchicagoliving featured condo development of the month:
ROW2750 | 2750 N. Lakewood
Click here to read more about the town homes at 2750 N. Lakewood, our feature project of the month.
Click here to read more about the town homes at 2750 N. Lakewood, our feature project of the month.
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have a new construction condo or loft listing? we’d love to feature it on newchicagoliving. it’s free, so contact us today for more info!
have a new construction condo or loft listing? we’d love to feature it on newchicagoliving. it’s free, so contact us today for more info!
862 W. Roscoe Surfaces on
Lakeview Real Estate Market | August 18, 2011
Just hitting the Chicago real estate market a few days ago are several new construction condominiums at 862 W. Roscoe Street in the Lakeview neighborhood of north Chicago. This spectacular building features upgraded woodwork, wainscoting, custom fireplace mantels and a gourmet kitchen layout with granite countertops, high-end stainless steel appliances and a built-in wine cooler. The master bathrooms in each condo are equally as impressive, with marble finishes and shower extras (rainfall, handheld, and body spray options) that make for a quality bathroom appearance and even better bathroom amenities. Other “must-haves” incorporated by the builder include large closets, wiring for surround sound and an iPod dock, in-unit laundry and parking is included in the purchase price. The condos at 862 W. Roscoe Street were first put on the market on August 16th and are priced between $469,900 and $779,900. For more information or to schedule a showing, contact Anna Foley-Coakley with Koenig & Strey at afoleycoakley@koenigstrey.com.
New Price Sheet Released for River North Condos:
Click "Fullscreen" below to view the latest updates at 303 W. Ohio, River North's newest high-rise development | August 17, 2011
Downtown Rental Market Stronger Than Ever; More Apartments on the Way
August 15, 2011
A new report from Appraisal Research Counselors revealed that the rental market in downtown Chicago may be stronger than ever before. The ongoing market swing from condos to apartments within the downtown area is forcefully being driven by the fear of condo property values continuing to plummet, and of course, stricter qualification guidelines by banks and mortgage lenders issuing loans to potential homebuyers. The average Class A, or high-end, occupancy rate for apartments located downtown Chicago jumped from 93.9% to 95.6% between the first and second quarters of 2011; and with this sudden increase in demand, landlords have certainly reacted in an expected fashion by driving rent costs up. The average rent for a Class A building downtown reached $2.43 a square foot in the second quarter of 2011-a price that jumped approximately 6.1% from the first quarter and 9.5% from this time last year. But with such a steady increase in apartment demand, developers have once again started building in the downtown Chicago market, with five new construction projects currently in progress and roughly a dozen more in the early planning stages.
Source: ChicagoRealEstateDaily.com
Source: ChicagoRealEstateDaily.com
Rare New Construction Available in Historic Lakewood Balmoral
August 15, 2011
Still on the market is the absolutely gorgeous new construction unit at 1259 W. Foster. The convenient location between Broadway and Clark provides easy access and a short walk to both the boutique retail shops of Andersonville and the vibrant music venues of the Uptown neighborhood, just a few blocks south on Broadway. Finishes to this stunning unit include cherry hardwood flooring and cabinets, high-end stainless steel appliances, central air, high-level base boards and crown and panel molding throughout. A garage space is included in the purchase price and the building is even wired for HD, an iPod dock, surround sound speakers and category 5 internet connections. The current listing price is at $349,999 with the assessment fee of only $150 per month. Since March, the price to this condo has increased nearly $1,000 from $349,000 to $349,999. For more information, contact Ryan Wallenfang with Jameson Sotheby's International Realty at (312) 751-0300 or (312) 420-5364. Additional photos can be seen below:
newchicagoliving featured new business of the month:
TopShop | 830 N. Michigan Avenue
TopShop is the new business of the month for September. Read more about the opening of Chicago's hottest new retail store here.
TopShop is the new business of the month for September. Read more about the opening of Chicago's hottest new retail store here.
MAJOR Development Plans for West Loop, Hyde Park & Calbrini Green | August 13, 2011
One South Halsted
A recent feature in the Architects Newspaper reported that three stunning new construction projects are expecting to break ground in the West Loop, Hyde Park and the former public housing site of Calbrini Green. An exquisite glass-façade structure is planned for One South Halsted, in Chicago’s West Loop, that will feature roughly 10,000 square feet of retail space and over 500 rental apartments with full-service amenities that include room-service from the adjacent Crowne Plaza Hotel. The project still needs to be reviewed by the Chicago Plan Commission but the CTA expects to add new infrastructure by next year that includes a new Green/Pink Line stop at Lake and Morgan Street, which will service much of the new West Loop development.
The Hyde Park development includes a revitalization of commercial space along the 53rd Street Corridor, and with the new projects of City Hyde Park and Harper Court already in the works, there’s no doubt this development boom is the start of this so-called rejuvenation process. Antheus Capital, the primary developer of the 500,000 square foot mixed-use development dubbed City Hyde Park, will be converting two historic hotels into apartment buildings, adding a 22-story tower with 179 rental units and commercial retail space on the ground level with Whole Foods as the anchor tenant, as well as executing the stalled 26-story residential Solstice on the Park project. Partnering with Antheus is architect company Studio Gang, and if the each development plan is carried out, the following will have been built: a new 22-story apartment tower, the 26-story Solstice on the Park building, renovations and a conversion to apartments of the Del Prado Hotel and Shoreland Hotel, the renovation of Harper Theatre on 53rd Street and the addition of Harper Court-which includes 150,000 square feet of office space, a 130-room Hyatt Place Hotel, retail space, parking, and 40,000 square feet of open space for pedestrians in the first phase.
Near the former Calbrini Green site is the ongoing construction of the second SoNo tower, SoNo East, which is located at 840 W. Blackhawk Street. Once completed, the structure will house 324 residential units and 50,000 square feet of retail space on the ground level. The first tower, SoNo West, was completed back in 2008. Also planned for the Calbrini Green site is a brand-new Target store, which was approved on July 21st by the Chicago Plan Commission.
The Hyde Park development includes a revitalization of commercial space along the 53rd Street Corridor, and with the new projects of City Hyde Park and Harper Court already in the works, there’s no doubt this development boom is the start of this so-called rejuvenation process. Antheus Capital, the primary developer of the 500,000 square foot mixed-use development dubbed City Hyde Park, will be converting two historic hotels into apartment buildings, adding a 22-story tower with 179 rental units and commercial retail space on the ground level with Whole Foods as the anchor tenant, as well as executing the stalled 26-story residential Solstice on the Park project. Partnering with Antheus is architect company Studio Gang, and if the each development plan is carried out, the following will have been built: a new 22-story apartment tower, the 26-story Solstice on the Park building, renovations and a conversion to apartments of the Del Prado Hotel and Shoreland Hotel, the renovation of Harper Theatre on 53rd Street and the addition of Harper Court-which includes 150,000 square feet of office space, a 130-room Hyatt Place Hotel, retail space, parking, and 40,000 square feet of open space for pedestrians in the first phase.
Near the former Calbrini Green site is the ongoing construction of the second SoNo tower, SoNo East, which is located at 840 W. Blackhawk Street. Once completed, the structure will house 324 residential units and 50,000 square feet of retail space on the ground level. The first tower, SoNo West, was completed back in 2008. Also planned for the Calbrini Green site is a brand-new Target store, which was approved on July 21st by the Chicago Plan Commission.
Parkside of Old Town Slashes Prices Again | August 10, 2011
According to recent updates to the Parkside of Old Town website, final price cuts have been made to the 29 remaining units in the mixed-use development in Chicago’s Near North Side. Positioned on Division Street, right next door to Seward Park, Parkside of Old Town offers residents fabulous outdoor amenities and breathtaking skyline views of downtown Chicago-all at a VERY affordable price. Below is a breakdown of previous and current pricing rates at one of Old Town’s hottest new addresses:
1 Bed, 1 Bath Condo:
Originally-$259,900; First Price Cut-$184,300; Final Price Cut (NOW): $155,040
2 Bed, 2 Bath Condo
Originally-$379,900; First Price Cut-$266,000; Final Price Cut (NOW): $229,500
2 Bed, 2 Bath Townhome
Originally-$599,900; First Price Cut-$382,800; Final Price Cut (NOW): $321,300
Five New Construction Condos Under $200,000
August 9, 2011
1) 565 Quincy. The Jr. One Bedroom condos at 565 Quincy are currently starting at just $159,900. Prices for these condos originally started at $216,900 but have since dropped well under $200,000. Parking is included with the purchase price and FHA Financing is available to qualified buyers.
2) 1 E. 8th Street. The model in this highly attractive Loop condo building is currently on the market for $199,000. This purchase price not only includes the condo itself, but the furniture, art work and flat-screen T.V. that was used in the model is also being thrown in as a package deal. Parking for this condo unit will be an additional $35,000.
3) 235 Van Buren. City Homes at 235 Van Buren are now being offered at $139,900. The contemporary condos at 235 W. Van Buren, developed by CMK Companies, offer a great Chicago Loop location just 1 block off the Chicago River.
4) Clarovista. The new construction condos at 1134 W. Granville are a great value in a location close to Lake Michigan and Loyola University-Chicago. The 160-condo unit development in Chicago’s Edgewater neighborhood has a starting purchase price of only $175,000.
5) Beacon Square. Located at 4716-4724 N. Beacon, this Uptown/Sheridan Park condo development is FHA Approved with units originally starting at $145,000. The 37 condos in this courtyard conversion feature private balconies, stainless steel appliances and fabulous limestone bathroom finishes.
2) 1 E. 8th Street. The model in this highly attractive Loop condo building is currently on the market for $199,000. This purchase price not only includes the condo itself, but the furniture, art work and flat-screen T.V. that was used in the model is also being thrown in as a package deal. Parking for this condo unit will be an additional $35,000.
3) 235 Van Buren. City Homes at 235 Van Buren are now being offered at $139,900. The contemporary condos at 235 W. Van Buren, developed by CMK Companies, offer a great Chicago Loop location just 1 block off the Chicago River.
4) Clarovista. The new construction condos at 1134 W. Granville are a great value in a location close to Lake Michigan and Loyola University-Chicago. The 160-condo unit development in Chicago’s Edgewater neighborhood has a starting purchase price of only $175,000.
5) Beacon Square. Located at 4716-4724 N. Beacon, this Uptown/Sheridan Park condo development is FHA Approved with units originally starting at $145,000. The 37 condos in this courtyard conversion feature private balconies, stainless steel appliances and fabulous limestone bathroom finishes.
Lakeview Apartment/Retail Building Purchased | August 9, 2011
A recent report from ChicagoRealEstateDaily.com detailed the sale of the mid-size apartment/retail building at 3550-3556 N. Southport Avenue to local investment group JAB Real Estate. The corner building is located at the very desirable location of Southport Avenue & Addison Street in Lakeview and is only about 5 blocks from historic Wrigley Field. The property encompasses six apartments on the second floor, a 4,000 square-foot space that was formerly a Washington Mutual Bank branch, a 2,100 square-foot space currently leased by Southport Grocery & Café and an additional 1,500 square-foot retail space that faces Addison Street, which is currently unoccupied. The purchase price was a reported $3.6 million and a lease is already in the works with a national retail tenant to assume the previous Washington Mutual Bank space. At this point, it is unclear how the new owners plan to update or market the six residential apartments that occupy the building’s second floor.
Jannsen Avenue Proposed Site of Another Luxury Custom Home | August 8, 2011
It appears that the next luxury GVP Development project is set for 3648 N. Jannssen Avenue. Set in one of Lakeview’s hottest locations, this proposed project is just steps from the highly sought after Southport Corridor and the similar up-scale new construction homes at 3755 N. Jannssen and 3751 N. Greenview Avenue. The new floorplan of 3648 N. Janssen would call for 6,400 square feet of living space, an extra-wide lot with a suburban-sized backyard, four bedrooms on one level, a 4-car garage and just about any other luxury feature one can imagine. The property is currently on the market for $2,695,000. For more information, contact Jennifer Ames with Coldwell Banker Residential Brokerage. Also, check out the photo gallery below of current property photos and the proposed rendering of this exquisite new home.
Long Construction Process of Lincoln Park Plaza Underway | August 6, 2011
Construction is well underway for the six-unit apartment/condo development at Lincoln and Kenmore Avenue. Lincoln Park Plaza, located at 2661 N. Lincoln Avenue, will contain a total of six high-end residences, with the developer planning to live in the penthouse unit and rent out the remaining five units. According to some reports, those remaining five units will eventually be sold as condominiums once the market picks back up to a sustainable level, but don’t expect to see this apartment-to-condo transition anytime soon. Once completed, Lincoln Park Plaza will have secured underground parking, a state-of-the-art green roof, and 1,323 square-feet of ground-level retail space. The roof, according to an original report by Crain’s, will be layered with soil and numerous trees, brush, and various other plantings which will essentially allow for a park-like environment atop the new development. Although no completion date has been set, estimates don’t have the project done until sometime next summer.
Middlefork Capital, LLC Revamps
West Wrigleyville;
3751 N. Greenview Ave Now Under Contract
August 4, 2011
Stunning mansion homes keep popping up near the very desirable Southport Avenue strip between Addison Street and Irving Park. There’s the ageless Music Box Theatre, a brand-new Jewel-Osco grocery store with convenient underground parking that allows for exceptional store-front curb appeal, and a seemingly endless supply of locally owned shops and restaurants that provide a quaint village-like atmosphere with a modern day vibe. Though a bit pricey, new home builders of this exquisite Chicago real estate pull out all the stops when it comes to tasteful elegance and true luxury features within each home. Middlefork Capital LLC is responsible for the immaculate, recently-completed addresses of 3755 N. Janssen and 3751 N. Greenview Avenue; both nearby the vibrant Southport Avenue location. With each home now being under contract, it’s simply amazing to look at what both of these mini-mansions have done to the respective blocks each home sits on. The before & after photos below certainly tell the tale:
First Home In Lakewood Park Estates Takes Shape
August 3, 2011
Though progress has been slow for the single-family development project known as Lakewood Park Estates, located on the 2700 block of Lakewood Avenue, it appears that the first luxury custom-home to take its place along this Lincoln Park strip is starting to take shape. As of today, many of the home’s windows have been installed and the exterior brick is in the process of being layered. The builder, GVP Development, specializes in high-end new construction homes in popular Chicago neighborhoods such as Lincoln Park, Roscoe Village and Lakeview with their open model-home located at 3251 N. Lakewood Avenue. Homes in the development can also be built by equally prominent Chicago home-builder, Sullivan, Goulette & Wilson, Ltd, which will essentially give buyers a few more options when choosing the design for their new custom home. New homes on a 25-foot wide lot with 5,200 square feet of living space start at $2.1 million in Lakewood Park Estates. For more information, contact Jennifer Ames with Coldwell Banker or visit www.lakewood-schubert.com Updated photos of the custom GVP Development home and vacant Lakewood Park Estates home sites below:
Upcoming New Construction Open Houses
July 28, 2011
Have some extra time to spend looking for a new condo this weekend? Check out what's on tap for some of these hot north side developments:
3323-25 N. Seminary:
Sat & Sun 1-4 p.m.
50 E. Chestnut:
Sat & Sun 1-4 p.m.
Silver Tower:
Sat & Sun 12-4 p.m., Thurs 3-6 p.m.
Halsted Row: Open Houses By Appt. Only
Ashland Terrace: Open Sundays (call for times)
(Open House times courtesy of Jameson/ Sotheby's International Realty)
3323-25 N. Seminary:
Sat & Sun 1-4 p.m.
50 E. Chestnut:
Sat & Sun 1-4 p.m.
Silver Tower:
Sat & Sun 12-4 p.m., Thurs 3-6 p.m.
Halsted Row: Open Houses By Appt. Only
Ashland Terrace: Open Sundays (call for times)
(Open House times courtesy of Jameson/ Sotheby's International Realty)
Only 2 units Left @ 3133 Lofts | July 6, 2011
According to a recent update to the Sotheby's International Realty webpage, only 2 lofts remain available at 3133 N. Lakewood Avenue. Prices for the unsold units originally dropped back in 2009, which generated lots of new interest in the project. Around that same time, 4 bedroom lofts were priced in the $670s. The 2 units remaining are 4 bedroom/3 bath duplexes and have a price tag of just $564,900. Check out our Lakeview development page for more info on the 3133 Lofts.
757 Orleans Cuts Prices Again | July 16, 2011
The beautiful Gammonley Group high-rise at 757 Orleans has slashed prices again. As much as $25,000 were taken off the price of studio condos bringing the price down to only $164,000. One bedrooms are now starting at $262,000, one bedroom + dens from $277,000, and two bedrooms from $358,000.
Visit the 757 Orleans website for more Information!
Visit the 757 Orleans website for more Information!
Lincoln Park's Hottest New Address | July 15, 2011
The exclusive townhome project located at 2750 N. Lakewood is nearing completion and primed to take over as Lincoln Park’s newest, most sought after address. Dubbed “Row2750,” this LG Development project boasts extra-wide floorplans, attached heated two-car garages and floor-to-ceiling windows that allow for an ultra-modern façade. Additionally, each unit features two separate private deck spaces and an oversized ground patio making for an unheard of amount of outdoor space in Lincoln Park. Row2750 only has 11 townhome units and according to the project website, only 6 remain available. Click http://www.row2750.com/#/home/ for more information! Updated photos of the construction process can be viewed below:
Lincoln Park 2520 Taking Shape | July 15, 2011
In case you haven't noticed, construction for the massive residential high-rise at 2520 N. Lakeview is well underway and is rapidly changing the landscape of east Lincoln Park. The elegant building labeled Lincoln Park 2520 was designed by renowned architect Lucien Lagrange, whose extensive portfolio in Chicago includes 840 North Lake Shore Drive, Elysian Hotel & Residences, X/O, the Ritz-Carlton Residences, 10 East Delaware, and the Park Tower. First deliveries for Lincoln Park 2520 are scheduled for Spring 2012 and you can learn more about these exquisite lakefront residences at http://www.lincolnpark2520.com/ .
For now, check out the latest construction photos we snapped just a couple days ago:
For now, check out the latest construction photos we snapped just a couple days ago:
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Visit the NewChicagoLiving Blog HERE or click on "Blog" under the drop-down menu in the navigation bar!
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