Chicago Real Estate News & Neighborhood Notes - January, 2017

Boutique Offices Proposed Near Quincy/Wells Station in The Loop

Residential development around The Loop has certainly picked up in recent months, but that certainly isn’t slowing down commercial development within Chicago’s primary business and financial district. Just this week, plans for a pretty sweet looking loft-style office building, which if approved, would be developed at 145 S. Wells. 

What would stand 20 stories high, the new boutique office development is designed by Chicago-based Thomas Roszak Architecture, and as you can see, features a slick maze-like exterior that can only be described as something you might ordinarily see over in River North. 

As of now, an established four-level parking garage occupies the potential building site, but given the location of 145 S. Wells sits right in the heart of…

2361 Views, 0 Comments

Chicago's Famed Willis Tower is Getting a $500 Million Makeover

Chicago’s most iconic tower is getting a facelift, according to numerous reports coming in from all over. City officials revealed a series of proposed improvements to the famed Willis Tower earlier this week, which are estimated to cost around $500 million. 

In a nutshell, it appears the plan is to make the Willis Tower much more accessible and inviting to visitors, even despite the building already attracting 1 million people annually. 

Blackstone Group L.P., who previously purchased the building almost two years ago, will be heading the makeover, which will include adding 300,000 square feet of new retail space, restaurant, and entertainment space, as well as a new 30,000 square foot outdoor deck. 

According to the release, the new retail…

2171 Views, 0 Comments

Just 4 Units Left at 4 E. Elm in the Gold Coast

Despite being one of the newest condo buildings to be developed in the Gold Coast, 4 E. Elm is already almost entirely sold out. According to the building website, and what’s currently listed on the MLS, just 4 units remain at this high-profile project, leaving very few opportunities for potential buyers who love what this amazing new development has to offer. 

With construction just wrapping up last year, 4 E. Elm is about as modern as it gets from a lifestyle standpoint. Inside, just 35 units occupy the building’s 25 levels, and living spaces are both expansive and luxurious, as you might expect from a fabulous new Gold Coast condo tower. 

Of the four remaining units, the lowest priced condo is listed at $2,990,000, which offers three bedrooms,…

2099 Views, 0 Comments

Keeping Up With the South Loop's Rapidly-Changing Skyline

As first reported by the Chicago Tribune, ground has officially been broken on Essex on the Park, a high-profile new apartment tower located at 808 S. Michigan Avenue in the South Loop. But as impressive as this new 479-unit tower looks, it’s not the only major project underway around this part of the neighborhood.  

Construction for a 76-story apartment building at 1200 S. Indiana also began last month, which will also add an additional 792 ultra-luxury rentals to the expanding South Loop market. This particular development, which is being called One Grant Park, was designed by New York-based architect Rafael Vinoly and also include a second tower, which is already planned.  

The Helmut Jahn-designed tower at 1000 S. Michigan is also in the works,…

2148 Views, 0 Comments

Supertall Tower Proposed For Thompson Center Redevelopment in the Loop

Two impressive new renderings have just been released that would totally change downtown Chicago’s skyline if either of the two happen to be built. According to last night’s article in the Tribune, architect Helmut Jahn has submitted one such design for the redevelopment of the James R. Thompson Center—a building that Governor Bruce Rauner wants the state of Illinois to sell to a major developer who would build something much bigger at its prime location at Clark and Randolph street in the heart of the city’s bustling business and financial district. 

Should one of these proposals actually come to fruition, there’s no doubt the goal of building something bigger and better would be accomplished. As noted by the Tribune, one such proposal features a…

5653 Views, 0 Comments

Permits Issued for 29 S. LaSalle Apartment Conversion in The Loop

With the issuing of a permit that will allow Florida-based Dolce Living Communities Residential to convert a vintage office tower into stylish new apartments and additional ground level retail space, the Loop’s on-going transformation into one of the hottest places to call home in downtown Chicago seems to be pushing forward as we navigate the first month of 2017.

The building, which is located at 29 S. LaSalle, was originally designed by Jenney & Mundie and first completed all the way back in 1902. But now, roughly 114 years later, a totally revamped interior is on the way for 29 S. LaSalle, which according to reports is being designed by renowned Chicago-based architectural firm FitzGerald Associates Architects.  

Permit documents have the total…

3130 Views, 0 Comments

Anticipation Building For Optima Signature — Streeterville's Newest Luxury Tower

If you haven’t noticed Streeterville’s newest apartment tower at 220 E. Illinois nearing completion, chances are you haven’t looked up. Designed and developed by David Hovey, this gleaming new high-rise is certainly one of the city’s shiniest new apartment buildings to hit the market in recent memory, not to mention one of the more impressive as well. 

At 56 stories, 220 E. Illinois, or perhaps better known now as Optima Signature, will feature 490 apartment residences, which of course are just now being delivered at a time in which the downtown market is being flooded with new rentals. But like so many of Hovey’s other projects, Optima Signature promises to be special. 

Over the first 39 floors, Streeterville’s newest apartment tower will feature a…

2605 Views, 0 Comments

Belgravia Introduces Three Sixty West

More new condos appear to be on the way to River North as plans for an 11-story building have just recently been revealed by Belgravia Group. According to preliminary plans, the new development would replace a couple parking lots and the building formerly known as Citizen Bar, a popular River North spot that shuttered this past fall, which had one of the best rooftops in the area. 

Should the new Three Sixty West project move forward, the development would include 38 units, as well as 52 deeded parking spaces for resident use. Early reports have the top level of the building featuring two three-bedroom penthouse condos, as well as a common fitness facility, an indoor entertainment lounge, and a sprawling outdoor terrace. 

Other new construction…

2706 Views, 0 Comments