Chicago Real Estate News & Neighborhood Notes - March, 2016

Remarkable 3-Bedroom NOW AVAILABLE at 65 E. Goethe...But Hurry, It Won't Last Long

Luxury condos make up a significant portion of Chicago’s downtown real estate landscape, but like anything, some units are significantly more special than others. And that’s exactly what we have with a three bedroom, two-and-a-half bathroom condo that recently became available at 65 E. Goethe.

True to Gold Coast form, 65 E. Goethe is easily one of the city’s most elegant and most luxurious condo buildings, making any 3-bedroom unit here with 3,800 square feet of living space a unique and desirable opportunity for luxury buyers looking to make a move.

Inside, this fabulous condo also features only the best interior finishes, which include everything from a gourmet chef’s kitchen to a dramatic vaulted hallway that feels more like something out a mansion…

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Two More Hotels Coming to River North? Yes, We're Serious...

Just when you think things might finally start to cool down when it comes to hotel development in downtown Chicago, two developers have apparently filed zoning applications to build out two new hotels in River North that would add another 399 rooms to the already bustling hotel market.

As reported by DNAinfo, Chicago-based Akara Partners are looking to develop a 17-story, 200-room hotel at Huron and Clark, which is right around 5 blocks west from the famed Magnificent Mile. The vacant lot at 100 W. Huron was actually purchased last year by Akara with plans to develop condos, but the slow condo market delayed the project and apparently a new hotel seems to be the new direction they’re heading.

Just a few blocks south at Lasalle and Hubbard, another…

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New High-Rise Likely Coming to the West Loop Alongside The Kennedy

With demand for West Loop housing still at a seemingly all-time high, it appears another major high-rise could be on the way for a site located alongside the Kennedy Expressway. The project,  called One South Halsted, has actually been “in the works” so-to-speak for quite some time, however nothing has quite materialized as of yet.

An introduction to the unique, cylinder-shaped tower was actually first presented all the way back in 2011, and the city actually gave the project approval the following year. However, up until now, talk about the dynamic new development has mostly been silent.

According to reports, though, it appears developers are finally ready to get construction underway, albeit with a slight modification to the height and number of…

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New Retail at Wells & Huron Should Help Compliment New Development Coming to River North

With so many new developments happening in and around River North, it seemed like only a matter of time before changes in the retail landscape made their way to some of the more dated buildings and parts of this ever-changing downtown Chicago neighborhood.

As reported by Curbed, a rendering for a re-vamped retail space at the corner of Wells and Huron has been released by Mid-America Development Group, which seems to be breaking the trend of maximizing the footprint of a development site by building upward rather than only settling for a single-story development.

Instead, however, commercial space at this particular location will in fact remain just one story high, but have a much more appealing exterior, as opposed to the “modern” 90s look that defines…

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New Luxury Tower Design Modeled After Chicago's Historic Palmolive Building

Final details have emerged regarding the latest luxury high-rise that’s slated for downtown Chicago. Being called One Bennett Park, this stunning new Related Midwest project could actually be one of the more impressive developments to break ground in quite some time, which says a lot given downtown’s recent new construction boom. 

Located at 451 E. Grand, the building, which was designed by New York-based Robert A.M. Stern Architects, features a flawless Art Deco exterior that was inspired from the nearby Palmolive building, which is another one of Streeterville ultra-exclusive high-rises. 

When finished, the new tower will house 280 luxury apartments and 69 upscale condominium residences, although pricing has not yet been released by…

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Sedgwick at Locust Condos Now Over 75% Sold

With so much new development in downtown Chicago focused on luxury rentals, the demand for new construction condos is seemingly higher than ever. Sales at projects like 4 E. Elm and No. 9 Walton are reportedly coming in at a very rapid pace, and according to developers, River North’s new Sedgwick at Locust development is now over 75% sold. 

If you’re still unfamiliar with Sedgwick at Locust, this sleek new condo development is currently under construction between Chicago Avenue and the Clybourn Corridor—a location that’s being completely transformed into a hot destination for a wide range of urban dwellers looking to buy or rent. 

Dubbed “SL” for short, Sedgwick at Locust condos feature two-bedroom/two-bathroom layouts that start in the…

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Chicago Shakespeare Theatre Adding New $35 Million Performance Space

News relating to Navy Pier over the winter has mostly related to the new-and-improved Ferris wheel, which will be larger and include climate controlled gondolas with speakers, padded seats, and even TV screens.

Not to be outdone, however, the Chicago Shakespeare Theatre has now announced plans for a spectacular $35 million performance space that will not only boost Chicago’s already renowned cultural footprint, but also enable the company to expand its programming range as well.

Being called “The Yard,” the new annex will sit below a huge, whale-shaped canopy and feature 9 movable seating blocks that can be arranged in a variety of different layouts, which can of course be based on each individual performance.

Depending on the production, The Yard can…

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New South Loop Tower Makes Design Changes

A new design for the stately new Helmut Jahn tower possibly coming to 1000 S. Michigan was released earlier in the week, which was first reported by Curbed Chicago. The tower, which is now being called 1000M, will stand 73 stories high when finished, but won’t be classified as a “supertall” building after its height was cut to 832 feet from 1001 feet in its initial design.

As noted in the Curbed report, the design changes likely came from guidelines outlined for the Historic Michigan Avenue District by the City of Chicago Landmarks Commission, as well as from input from a variety of different groups, including South Loop residents, the Alderman’s office, and Chicago’s Department of Planning and Development.

Being developed by New York-based JK Equities…

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