Chicago Real Estate News!

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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From a design standpoint, 2035 N. Orleans is one of Lincoln Park’s most unique condo developments currently under construction given its exterior facade will incorporate an old 1930s-era parking garage that will no doubt give the building an added sense of character and allure.  

A luxury development that will only feature 10 units, however, opportunities to own a condo at 2035 N. Orleans will no doubt be limited. But just recently, the building’s ultra-luxe penthouse units officially hit the MLS, present high-end condo buyers with two of Lincoln Park’s most expensive options currently on the market, asking $3,650,000 and $3,500,000 respectively.  

Penthouse E, the more expensive of the two units, features five bedrooms and five bathrooms while also

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360 West Superior ChicagoJust as condos for sale at Three Sixty West hit the market, plans for another luxury condo building in River North are now making headlines. 

Recently reported by Crain’s, Ascend Real Estate Group is looking to develop a 34-unit luxury condo building over at 360 W. Superior Street, not far from the Chicago Red Line Station and countless other neighborhood amenities and attractions. 

If approved, the new 360 W. Superior project would stand 12 stories high, and as just mentioned, would also include 34 high-end condo residences. Outside of that, not many other details have been released, but a rendering shows the building would feature a pretty slick exterior that includes floor-to-ceiling windows and also private balconies that would be attached to

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110 N. Wacker ChicagoChicago’s latest building boom along the riverfront is about to enter its next phase, as long as a new high-profile project that’s being discussed gets approval from the Chicago Plan Commission next month. Being proposed is a massive 52-story tower that, if built, would be situated at 110 N. Wacker right alongside the South Branch of the Chicago River. 

Although the new tower will house offices rather than residential living spaces, 110 N. Wacker would still be a prominent addition to the Loop, which has seen a high concentration of large-scale development over the last couple years. 

In fact, several other major developments are already in the works just down the street from 110 N. Wacker, most notably Riverline, which is occupies one of the last

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Three Sixty West ChicagoBelgravia Group’s newest luxury condo development has officially hit the MLS, now offering new construction condo buyers an opportunity to buy inside one of River North’s most anticipated new boutique buildings. 

Perfectly situated one a rather quiet stretch of Erie Street, Three Sixty West has a contemporary loft-like design, fitting in perfectly with the trendy, upscale vibe of River North’s existing real estate landscape. 

Inside, condos for sale at Three Sixty West feature high 10-foot ceilings throughout the primary living areas, sleek Italian kitchens with premium kitchen appliances and modern custom cabinetry, large separate laundry rooms, lavish master suites with tons of closet space, and countless other luxury finishes that have come to be

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It feels like there’s been talk about Uptown eventually becoming Chicago’s new hottest neighborhood for awhile now, but progress has been slow to say the least, and especially for residents already living in the area who are hoping to see improvements made throughout the community. 

But with several new projects possibly in the works, Uptown could finally be getting the makeover it richly deserves, which could be the beginning of something special to happen in one of the city’s most historic neighborhoods. 

If you haven’t been keeping up, here’s a quick look at just some of what’s being discussed for the Uptown community: 

New Apartment Tower at Sheridan & Wilson 

Being planned for the southeast corner of Sheridan and Wilson is a proposed

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Fulton Market Streetscape ProjectChicago’s Fulton Market has seen all sorts of new development in recent months, including everything from major commercial projects to boutique-style hotels that are completely transforming this part of the city into a trendy place to live, work, or simply visit.  

Along with many who already call Fulton Market home, the city of Chicago has also taken notice in the neighborhood’s ongoing transformation, which is why it’s planning to invest nearly $20 million into a streetscape project that should help boost the area’s already rapidly growing appeal.  

According to a release, the project would involve adding new pavement and cobblestone to select intersections, as well as improving street lighting and adding more pedestrian-friendly upgrades all

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