Chicago Real Estate News!

Fulton Market Apartments As commercial development continues to transform Chicago’s West Loop and Fulton Market neighborhoods, developers are also planning more apartments to serve what will inevitably be a substantial influx of people wanting to live nearby. 

According to a recent report from Crain’s Chicago Business, Naperville-based Marquette Cos. is planning a 263-unit apartment building for a site over on the southwest corner of Lake and Ada streets, which happens to also lie just a block north of Chicago’s famed Restaurant Row. 

Should the project move forward, the building will reportedly be designed by Brininstool & Lynch and stand 10 stories high once finished. As noted in the Crain’s piece, developers love the location of Lake and Ada, which feels slightly less

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SoMi ApartmentsThe glassy new tower proposed for 1326 S. Michigan has officially received the “okay” from the city to begin construction, according to a new report out from Curbed Chicago that also outlines only the foundation permits have been issued to this point. 

One of several major developments that will no doubt change the landscape of Chicago’s South Loop in the coming years, 1326 S. Michigan will rise 47 stories once finished and add 500 more apartments to Chicago’s rapidly expanding inventory of downtown rentals. 

Dubbed “SoMi”—at least for now—1326 S. Michigan was designed by Chicago-based Solomon Cordwell Buenz and will also include brand new retail space along Michigan Avenue, as well as parking for 190 vehicles. 

 Local developer Murphy

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Construction has officially wrapped up and apartments for rent at AURÉLIEN are now leasing! As one of the hottest new apartment towers to hit the Gold Coast rental market, Aurélien provides a living experience unlike most buildings found throughout the Downtown landscape. 

Above all, the building's location is second-to-none, providing residents with easy access to many of Chicago’s best shopping, dining, and entertainment destinations, not to mention plenty of public transit stops/stations and countless other nearby amenities as well. 

As a newly built tower, living spaces are modern, sleek, and stylish, and the building’s full compliment of luxury lifestyle amenities also elevate apartments at Aurélien to a level that few buildings in the city

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In case you haven’t noticed, Chicago’s Uptown is transforming into one of the city’s most distinguished up-and-coming neighborhoods. Along with a number of large scale residential projects either already underway or currently being discussed, plans for another apartment project were just recently revealed that will only add to the neighborhood’s future appeal. 

According to reports, a vacant lot and old auto repair shop at 4906-4918 N. Clark Street near Andersonville could be developed into a chic new apartment building that could hold as many as 60 rentals and from the looks of it even plenty of ground level retail space as well.  

As of now, nothing has been made official and developers still need to present the project to Uptown’s Zoning Advisory

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One of Downtown Chicago’s most expensive condos has been re-listed and is now asking $12.5 million—a reduction of $200,000 off the original asking price of $12.7 million when the unit first hit the market last September. 

Perched up on the 87th floor of Chicago’s famed Trump Tower, this ultra-luxe penthouse boasts insane upgrades, tons of living space, and as you might imagine some of the best views money can buy.

Officially, penthouse #87A features 4 bedrooms, 4.5 bathrooms, and a jaw-dropping 6.850 square feet of total living area. Other interior finishes include massive 16-foot floor-to-ceiling windows that provide panoramic views, custom millwork throughout the entire unit, and countless designer finishing touches that should satisfy the needs

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Chicago’s west side has been on the upswing for quite some time now and neighborhoods like Bucktown, Wicker Park, and Ukrainian Village are now considered a few of the most sought after locations in town. Naturally, home and condo prices in these and other surrounding neighborhoods have skyrocketed over the pas 12 to 18 months, but if you go just a little further west over to the eastern edge of Logan Square and Humboldt Park—two of Chicago’s fastest developing neighborhoods—there’s still a whole lot of value just waiting for buyers to exploit.  

1505 N. Fairview Avenue, for example, is a new construction condo development that offers spacious floor plans, out-of-this-world interior finishes, and in the case of the top two units, 2 bedrooms, 2

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While some of Downtown Chicago’s new apartment towers may seem pricey on the surface, a new report from RENTCafé shows the Windy City is actually pretty affordable compared to other top financial markets across the globe. 

According to their analysis, Chicago only has the 17th highest rent prices out of the top 30 global finance centers, which includes markets like New York City, Boston, San Francisco and Los Angeles in the U.S.; and London, Paris, Tokyo, Sydney, and Dubai around the world. 

The RENTCafé report analyzed the average rent price for a one-bedroom apartment between 600 and 999 square feet, and Chicago, which as mentioned placed 17th on the list, had an average rent price of just $1,720. New York City, which ranked as the most expensive

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While Chicago’s real estate market has been off to a fast start in 2017, the luxury market in 2016 actually cooled off a bit compared to a year prior, at least when it comes to the region’s priciest homes.  

According a recent report from Crain's Chicago Business, just two homes in the six-county Chicagoland region sold for $10 million or over back in 2016, which is down from 6 homes at that price point back in 2015. Even with the dip in ultra-luxury home sales, however, 2,423 homes priced at $1 million or more also sold back in 2016, which is a 2.5% increase compared to 2015. 

As you might expect, top selling suburbs in the luxury category were Hinsdale (144 luxury sales), Winnetka (144 luxury sales), Wilmette (120 luxury sales), Lake Forest (97

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The Bucktown neighborhood is easily one of the hottest locations on the west side right now, and arguably one of the hottest locations in all of Chicago. Homes and condos are selling faster than ever right now not only in the Bucktown area, but also in several of its neighboring communities like Wicker Park and Ukrainian Village. 

Development around Bucktown has also been on the upswing over the past year, and projects like The Row are catching the attention of home buyers from all over town, and for good reason. That particular development, which lies along Winnebago Avenue not far from the heart of the neighborhood, offers a great location, tons of living space, and plenty of high-end interior finishes to top it all off. 

Consisting of just 24 row

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While the Chicago real estate market has remained hot during the early part of 2017, an interesting piece in Crain’s revealed now may not be the best time to list a luxury home in Lincoln Park. 

According to data in the report, 69 luxury Lincoln Park homes were added to the market last month, bringing the total number of homes listed to 169, which now marks a two year high. And with sales numbers remaining steady, the selling inventory is now bringing home prices in the area down. 

Going off of recent numbers from the Chicago Association of Realtors, homes in Lincoln Park that went under contract last month had a median asking price of under $1.5 million, which is well below the median asking price just one year prior of $1.85 million. And while

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