June 2016

There are 8 blog entries for June 2016.

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

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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

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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

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Marquee at Block 37 ChicagoIt 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

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111 Peoria ChicagoAfter 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

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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

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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,

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McDonald's Moving Headquarters to the West LoopAccording to multiple reports, it appears McDonald’s, the world’s largest fast food chain, is finally making its way to downtown Chicago. Crain’s Chicago initially broke the story late last week and to the surprise of some, the Oak Brook-based company will soon be making plans to move its corporate campus to the Harpo Studios site in the West Loop, where developer Sterling Bay plans to develop a brand new campus.

Famed Chicago native Oprah Winfrey originally sold the Harpo Studios building to Sterling Bay back in 2014 for $32 million, which aside from being the location where the Oprah Winfrey and numerous other TV productions were filmed, also helped transform the West Loop neighborhood into what it is today.

Prior to the announcement, McDonald’s flirted

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