August 2015

There are 12 blog entries for August 2015.

900 W. Washington Condos For Sale

Aside from 4 E. Elm and 9 W. Walton in the Gold Coast, much of Chicago’s new development news in recent years has largely related to luxury rentals, but according to reports, an ambitious new luxury condo project could be making its way over to the West Loop if River North-based Taris Real Estate has its way.

Earlier in the week, broke the news about plans for a striking new 10-story condo development proposed for 900 W. Washington over in the West Loop neighborhood, which currently occupies a small, one-story office building.

In short, the project would only include 24 ultra-high-end condo residences with anywhere from two to five bedrooms and a price point starting at more than $500 a square foot. Included in the development would also

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Since the closing of Fox & Obel Grocery in July 2013, the space has sat empty; patiently waiting for new life until it was announced that the retail giant Target will be taking over and opening a scaled down store; focusing on groceries, beauty and home goods. Now, rumors are circulating that this Target will be the first ever to house a bar within its walls. Shopping and a glass of Merlot? Doesn't sound too bad.

Although no official announcement has been made by the Minneapolis-based company regarding the bar; city records show an application for two liquor licenses—one to sell packaged alcohol and one to serve on-site wine and spirits in the growing Streeterville Neighborhood. This business move, some believe, is a response to other grocery

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Chicago will once again take over your tastebuds and palates while giving you a break from funnel cakes from August 28 - 30 at the inaugural Chicago Food + Wine Festival sponsored by "Food & Wine Magazine." Sponsors of the festival have brought in culinary titans from Chicago and across the nation to indulge and delight patrons with cooking demos, cocktail seminars and the Grand Tasting Pavilion where more than 90 wine, spirit and artisanal food vendors are stationed. 

Unlike other food festivals, the culinary gurus here want you to stay, watch and learn their trade. Trouble pairing the correct wines with your dinner? Not a problem here with several seminars on how to correctly combine the flavors. After jotting down some notes and and tossing back

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River North Rentals

It’s OFFICIAL! The Chicago Plan Commission has now approved plans for a shiny new 22-story mixed-use tower over in River North that will include 251 high-end apartments and 12,000 square feet of retail space.  

Plans for the new JDL project, which will eventually replace the Ed Debevic’s restaurant in the neighborhood, was first unveiled back in April, but uncertainty about whether or not the project would move forward grew when local officials made mention of the incredible amount of new apartments flooding the market, specifically around the downtown area.

But as demand continues to maintain for high-end rentals in downtown Chicago, construction continues to move forward for a wide-range of large-scale projects, which now includes the Ed Debevic’s

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Most Expensive Condos in Chicago

With summer slowly winding down and the traditionally busy fall market right around the corner, we thought now might be a good time to check-in on some of downtown Chicago’s most expensive condos currently on the market.

As of today, August 21st, some familiar units still occupy a place on this ultra-elite list—like Vince Vaughn’s immaculate 5-bedroom penthouse at The Palmolive Building, for example—while plenty of new construction units inside some of Chicago’s most dynamic new condo buildings are also still available.

The extravagant, 7,100 square foot full floor residence with 2,750 square feet of outdoor space at the spectacular new No. 9 Walton building is listed for a cool $12.5 million, while the raw full-floor penthouse at the Ritz Carlton

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Cash Sales on the Decline in Chicago

Recent data released from CoreLogic is showing that all cash sales are continuing to decline not only in Chicago, but also around the country as well. According to the report, cash transactions have been on a steady downslide for about 29 months, with recent figures from May showing about a 3% decrease year-over-year, bringing the total percentage of all cash home purchases to about 31.9% nationwide.  

In Illinois specifically, cash sales occupied about 28% of the total market share, with traditionally financed purchases seemingly on the rise. As for the city of Chicago, cash sales are still just over 30%, even despite dropping 4.4 percentage points year-over-year in May.

So what does all this mean?

According to research from CoreLogic, cash sales around

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Luxury Rentals in Chicago

Chicago’s luxury rental market has been scorching hot for awhile now, and as developers continue to deliver more and more units throughout the downtown area, signs of a slowdown appear to be nowhere in sight. Despite just coming to market within the past 12 to 24 months, buildings like 111 W. Wacker and 500 N. Lake Shore Drive seem like a distant memory, and even more recently completed buildings like 73 E. Lake and the North Water Apartments at the Loews Hotel seem like old news at this point.  

As we move closer and closer to the busy fall market, Crain’s recently broke down Chicago’s crazy apartment boom, enabling us to see just how wild of a ride it’s been, and what might be in store for us moving forward over the next couple years.

In 2015, roughly

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Alderman Tom Tunney (44) was joined by several city officials on Wednesday August 13 for the ground breaking ceremony at 3200 N. Clark St., where construction for a sleek, modern 8-story building is set to begin.

In 2013, the plans for the 3200 block of Clark Street proposed a 10-story building with an all glass façade. However, due to neighborhood concerns regarding mix-matched architecture, the plans were struck down and redesigned to the now 8-story building where a combination of metal and glass will help keep the modern appeal of the project. 

Coming in at a projected $50m budget, The multi-use building will be home to a downsized Target focusing on groceries, home goods, health and beauty products. On the upper floors, 90 residential units

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In the coming two weeks, Chicagoans will once again hear the thunderous roar of jet engines as the city prepares for the 57th annual Chicago Air and Water Show on August 15th through 16th at North Avenue Beach from 10 am to 3 pm. This year brings the U.S. Navy Blue Angels as the main headliner. Chicago will also have the honor of hosting the well-known French aerobatic pilots, The Breitling Jet Team who will be flying planes capable of flying more than 550 mph.

During the weekend, visitors will delight in watching advanced plane maneuvers by military and civilians pilots, daredevil parachute drops from the U.S. teams, Golden Knights and Leap Frogs, and numerous water activities performed by the United States Coast Guard.

Each year, an estimated 2

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It’s been nearly 5 months since plans for No. 9 Walton were first introduced, and now, it appears construction is ready to begin on what will essentially be one of Chicago’s priciest and most exclusive condo developments once completed. Being developed by JDL, reports are now surfacing about construction permits finally being issued for the lavish new condo tower in the Gold Coast, which was designed by Chicago’s very own Hartshorne Plunkard Architecture (HPA).

When finished No. 9 Walton, located at 9 W. Walton in the heart of the city, will stand 35 stories high but only house 66 individual units. According to the developers, the average unit size will be right around 4,000 square feet, providing more than enough space for potential home buyers looking

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