Chicago Real Estate News & Neighborhood Notes

According to numerous reports, Chicago’s highest-profile condo development in the works is now over 25% sold before building permits have even been approved. Earlier this week, the Chicago Tribune spoke with Magellan National Marketing Director Jim Losik, who updated the project’s sales by reporting 110 of the 406 planned condos at Vista Tower are now under contract, which include the building’s full-floor units priced around $9 million. 

Developers are hoping to finally begin construction later this month or sometime in August, with construction expected to be finished by late 2019. 

Vista Tower was designed by Jeanne Gang of Studio Gang Architects and will ultimately stand 93 stories high with condo residences not even beginning until the 73rd

Although Bulls’ superstars Derrick Rose and Joakim Noah are already on their way to New York, they’re apparently not the only local athletes on the move. According to reports, Chicago Blackhawks’ right winger Patrick Kane has just put his lavish two-bedroom condo at Trump Tower Chicago on the market, which was purchased for $2.06 million back in 2008.

Situated up on the 33rd floor, Kane’s Trump Tower unit boasts 2,000 square feet of living space and of course features huge wall-to-wall widows that allow for spectacular city, lake, and river views. Other finishes include Snaidero cabinetry, top-of-the-line kitchen appliances, high ceilings, and of course access to all of Trump Tower’s five-star hotel services.

With Kane just signing a mega contact two

As first reported by the Chicago Tribune, a lavish, 52nd-floor unit over at the renowned Waldorf Astoria tower in Chicago’s Gold Coast sold for $11.7 million earlier this month, which marks the highest price paid for a Chicago-area home so far in 2016.

The unit that sold first hit the market back in June of 2015, with owners initially asking $13.9 million. An eventual price drop to $12.85 million happened back in March, and now it seems the final purchase price was settled for just under $12 million.

According to property records, the seller first punched the condo back in 2010 for 8.18 million, guaranteeing a profit of just over $3.5 million.

The mega sale at Waldorf Astoria Chicago now beats out a $10.5 million sale of a 300 acre farm out in Lake

While the much-talked-about 1K Fulton development over in the rapidly developing Fulton Market neighborhood was only recently finished, the developer of the building, Chicago-based Sterling Bay, is already close to selling the mammoth project that’s helping re-define this particular part of the city.

According to reports, California-based American Realty Advisors is poised to purchase 1K Fulton for a jaw-dropping $305 million, which should give Sterling Bay a sizable profit given the original Fulton Cold Storage building was purchased for a mere $12 million back in 2012.

At 531,000 square feet, the deal would mean American Realty Advisors would pay $574 per foot for the fabulous new office building, which of course is now the home of the Chicago-based

Construction for the 26-story tower coming to State and Huron initially began with foundation work that has already been in progress since April. Aside from that, however, not much has been said about the new CA Venture project, at least compared to so many other upscale rental projects.

Earlier this month, however, new details and renderings were released about the relatively mysterious project that has somehow flown under the radar in what’s been an extraordinarily busy time for the apartment market in downtown Chicago.

Part of those details include a total unit count of 102 apartments, as well as the declaration of the building officially housing rental units despite some earlier chatter that the plan could call for condos. In addition, it’s also been

Although Chicago’s River North neighborhood is already known for its plethora of steakhouses, it appears another one will be added to the already crowded line-up sometime next year. According to reports from Curbed and Crain’s Chicago Business, a new restaurant that’s being called Steak 48 will soon be coming to 615 N. Wabash, which will be the small Phoenix-based chain’s third location in the U.S.

Inside, Steak 48 will feature an upscale contemporary ambiance with somewhat of an intimate and residential feel. In addition, the menu will be much like what’s offered at the Phoenix and Houston locations, with some dishes exclusively prepared for the Chicago location.

Steaks will be sourced somewhat locally, coming from both Illinois and Wisconsin, and will

It seems like only yesterday that plans for the new residential expansion at Block 37 were announced, but here we are right at the peak of the summer season and Marquee at Block 37 has now made its official debut on the downtown apartment scene.

Sitting atop the already existing mall structure, Marquee at Block 37 is easily the largest apartment tower to be built in The Loop in decades, housing a jaw-dropping 690 units over 34 total stories.

The building’s sleek glass design is a product of renowned Chicago-based architectural firm Solomon Cordwell Buenz & Associates Inc, which has also designed The Legacy at Millennium Park, 500 N. Lake Shore Drive, and countless projects all over the country.

Floor plans at Block 37 apartments range from studio to

After quite a few rounds of changes and design modifications, it appears a final version of 111 S. Peoria is finally on its way to becoming a reality. Now being called Illume, 111 S. Peoria will stand 9 stories high and apparently house 95 individual condo residences, which is quite the contract to the original plan of standing 13 stories high and housing 215 apartment residences.

Unlike many super luxury condo and apartment projects that have come through the pipeline in recent months and years, 111 S. Peoria will actually offer an assortment of one-bedroom residences that start just under $200,000—a rare price point for new construction in Chicago, and especially in the West Loop. Early reports are detailing that many of these entry-level one-bedrooms

Although street festivals, sporting events, concerts and any number of other major events will take place in Chicago all summer long, this weekend looks to be one of the more eventful on the calendar. So if you plan on being out and about over the next couple days, here’s just a glimpse of what’s going on:

Printer’s Row Lit Fest - 6/11-6/12; 10 AM-6 PM

Billed as the largest book fair in the midwest, swing through Chicago’s Printer’s Row neighborhood for an awesome musical and literary event unlike any other. Live performances, discussions, and authors from all over are all part of this year’s event.

RibFest - 6/10-6/12; Noon-10PM

One of the more popular street festivals of the summer, the Chicago RibFest is back once again up in North

Another day, another new plan has been proposed for Chicago’s infamous Chicago Spire site, located just off Lake Shore Drive near Navy Pier. This time, architectural firm Gensler has drawn up a pretty impressive plan that fully takes advantage of the premium lakefront location, which is what seems to be raising eyebrows the most.

The concept is called Gateway Tower and not only is it a mega-tall high-rise that would re-define Chicago’s already spectacular skyline, but it would also add yet another highly-visited tourist attraction to downtown Chicago’s well-documented list of things to do when in town.

Unlike the original Spire design, which included condominium residences only, the focus of Gateway Tower would actually be more the building’s versatility,