Chicago Real Estate News & Neighborhood Notes

A rare opportunity to own a lavish Gold Coast penthouse has presented itself at 1500 N. Lake Shore Drive. What some are calling “the most astonishing penthouse ever built in the city of Chicago,” the six-bedroom, 8,000 square foot duplex hit the market for an equally astonishing asking price of $17 million.

Occupying the entire 24th and 25th floors of 1500 N. Lake Shore Drive, the unit hitting the market is especially significant given it has only had three owners since the
building’s construction back in 1929.

Interior finishes include vaulted ceilings, direct elevator access into a grand formal entry, a 40-foot long walnut paneled gallery hall, 20’ high original coffered ceilings, a library, original bronze hardware, hand-carved doors, and even a

Two large-scale apartment developments have officially started construction, according to a recent report on Block Club Chicago. The first, a 26-story high-rise at 1400 W. Randolph, will feature 278 luxury apartments, as well as ground-level retail space.

Across the street, and also across from Union Park, 1454 W. Randolph will stand 11 stories high and include 243 new construction apartment units.

Combined, both projects will include over 100 affordable housing units and the projects will also provide 500 jobs during the construction process as well.

Despite some resistance from area residences, each of these high-profile apartment projects were ultimately approved and will generate $2.6 million for the Neighborhood Opportunity Fund and help

Renters are sure to find the available options at 2101 S Wabash appealing for a variety of reasons. From the uniqueness of the individual units to the location, there’s plenty to love about the property.

First of all, this boutique building offers just the right level of amenities. You’ll find a fitness center with free weights, plus there’s an elevator, a media room and available bike storage.

The floor plans are something else renters are sure to enjoy. The loft-style units at 2101 S. Wabash come in your choice of either a studio, one-bedroom or two-bedroom floor plan. This provides a range of options for renters, from a cozy 600 square feet to a much larger rental with upwards of 1,100 square feet of living space.

Of course, renters are sure to fall in

Looking for the right new construction condo in a smaller boutique-style building? Here are several intriguing options to consider right now...

2246 N. Western Ave

The first sits at 2246 N Western Avenue. This new construction condo building features large units with front balconies and high-end finishes. Each condo in the boutique building comes with a parking space in the attached garage. Within walking distance of public transportation, the building is also close to area restaurants and nightlife.

2541 N. Wayne

Another good option is 2541 N Wayne in Lincoln Park. The brick and limestone building offers a half-dozen flats filled with an array of desirable features and finishes. These new construction condos come with generous

Mortgage rates jumped to 3.12% this week, up from 3.04%  according to Bankrate’s weekly survey of the largest lenders in the country.

Compared to this time last year, when rates were just under 4%, current rates are still hovering around historic lows, making it a great time to buy even despite the pandemic.

Over the past 52 weeks, which of course covers the entire COVID-19 crisis, 30-year fixed rate loans have averaged 3.49%, or about 0.37 percentage points higher than current rates that already factor in this week’s increase.

As noted by many mortgage pros, recent news of a COVID-19 vaccine becoming closer to being ready is giving everyone optimism towards the economic state starting to shift to a recovery and ultimately back to normalcy.

For now, most

Found in Old Town, Chicago’s North + Vine provides elegant apartments and an array of added amenities. The property includes your choice of a studio, one, two-, or even a three- bedroom apartment, all of which are accented by a number of high-end features and finishes.

Each of the apartments at North + Vine includes high ceilings, oversized windows, walk-in closets and spa-like baths. In addition, some of the units offer up impressive views of the city skyline.

Community amenities are plentiful, from the private terrace with fire pits to the swimming pool and sundeck. The property also offers its residents access to a health club, resident lounge, a library and a work lounge.

Other extras include reserved garage parking, a dog run and pet spa, plus a

Despite the effect of an ongoing pandemic, it seems investors and developers still have an eye on the Fulton Market neighborhood. According to published reports, an investor recently closed on a $20 million industrial property that will reportedly be turned into hundreds of new apartments.

A new office property is expected to break ground soon, as well. Together, reports suggest the two projects could benefit each other, giving office workers a place to live that’s in the same neighborhood and close to work.

Another one-million or so square feet of office space is under construction right now and should deliver by the end of 2020. Some investors are banking on the neighborhood’s long-term potential.

That’s why they snapped up property in the neighborhood

For luxury and exclusivity in Chicago’s Budlong Woods neighborhood, consider the new construction possibilities of 5442 N Western. This brand-new rental property offers the appeal of a rental and the luxury of a large amount of living space.

In fact, it’s said these apartments feel more like living in a single-family home. Starting at around 1,400 square feet in size, the largest unit easily command more than 3,300 square feet of living space.

With the option of two-to four-bedrooms, renters can either choose from a simplex, a duplex up, or a duplex down unit. All renters, meanwhile, have the option of sharing a large rooftop deck with incredible city views.

You will also find some private outdoor terraces, plus such upscale features and finishes as quartz

From its location to its luxurious options, you’re sure to love living at 1400 W Monroe. Found right in Chicago’s West Loop, the building offers your choice of more than 40 upscale residences.

This new construction property includes mostly two- and three-bedroom floor plans with custom kitchens and large master suites. The sophisticated building also offers large private balconies and some outdoor terraces, as well. 

In addition, you’ll find such conveniences as deeded garage parking, storage lockers, a dog-washing station and some fantastic views overlooking Skinner Park and the city’s skyline. A two-bedroom unit in the building may supply around 1,200 square feet of living space, while a three-bedroom unit can easily top 1,800 square feet.  

The West Loop has been one of Chicago’s hottest neighborhoods for several years running and  Chicago-based Belgravia Group’s latest condominium project, CA6 West Loop, is only the latest example that backs up that claim.

According to recent reports, the seven-story, 72-unit development has already pre-sold 35 percent of its units well before construction has even started.

For those still unfamiliar with Belgravia’s latest high-profile project, CA6 will feature three-bedroom/three-bathroom and four-bedroom/3.5-bathroom duplex layouts, representing the most sought-after floor plan in the West Loop right now.

Not surprisingly, CA6 condos for sale won’t come cheap for anybody interested in the building. Prices for duplex condos still remaining start at a cool