April 2017

There are 8 blog entries for April 2017.

According to new data from Trulia, condo values are inching closer and closer to the home values of single-family homes in markets all over the country—a trend that’s not quite as relevant here in Chicago, but still interesting nonetheless. 

Before diving into the numbers, however, it’s also worth noting that Trulia’s analysis is getting some push back from outside analysts and industry pros, citing an unreliable automated valuation model rather than using data that’s a little more concrete in their eyes, like comparable closed sales for example. 

Regardless of which model to follow, though, it’s hard to argue that condos are starting to play a more significant role in today’s marketplace, especially in medium-to-large sized cities. And if you look

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What You Can Buy in Wrigleyville Right NowWith the baseball season now in full-swing, the Cubs have officially begun their quest to defend their most recent World Series Championship—an accomplished feat that’s infamously been 108 years in the making. But with all the redevelopment currently happening all throughout Chicago’s Wrigleyville neighborhood, it’s now a north side location that continues to offer a whole lot more for locals to enjoy than just a fun-filled day at the ballpark. 

The new Addison & Clark development that’s currently under construction will eventually feature a new Lucky Strike Bowling alley and Cinemex movie theatre once finished, and the new Zachary Hotel will bring a number of Chicago culinary favorites to the neighborhood as well, including Big Star and Smoke Daddy

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Filed under “something you don’t see everyday,” a new high-rise project  in River North has recently been revealed that will combine office space and a new firehouse, which on the surface seems like an odd mixture. But upon further review, the bold idea actually make a lot of sense, both for the city and for the developer behind the project. 

According to reports, developer Albert Friedman has already reached a deal with city officials regarding the new development, which would include about 614,000 square feet overall, including the new firehouse that would replace the existing Engine Co. 42 station located at 55 W. Illinois. 

As alluded to above and as first detailed by Crain’s, the project seems to be a win-win for both the city and Friedman, who

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More changes are on the way for Chicago’s Mag Mile, as numerous reports claim the nation’s largest Starbucks will soon take over the Crate & Barrel location over at 646 N. Michigan Avenue. 

According to Eater, the new Starbucks location, which will encompass a whopping 43,000 square feet, will occupy four stories and also serve pizza from popular Italian bakery chain Princi in addition to serving all the classic food and drinks offered at a typical Starbucks location anywhere else. 

Additionally, the Chicago Tribune quoted Starbucks CEO Howard Shultz saying the spectacular new coffee house will also offer somewhat of a theatrical component, providing guests with interactive tours of the new high-profile Mag Mile location.  

It’s also worth noting

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Condo Sales Up in These Chicago NeighborhoodsIf you’re looking for a quick update on how the Chicago real estate market fared over the first few months of 2017, Crain’s recently outlined which parts of the city have been the hottest so far in the new year. With mortgage rates still low and available inventory also scarce throughout many parts of the city, the Chicago real estate market has been especially kind to sellers, especially in a few familiar neighborhoods. 

According to Crain’s data, which only included neighborhoods with at least 25 sales during the first quarter of 2017, the Near North Side, West Town, and Lincoln Square rounded out what’s viewed as being the three hottest neighborhoods for condos and townhouses in the city right now, which is somewhat surprising in some ways. While

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Fulton Market Apartments As commercial development continues to transform Chicago’s West Loop and Fulton Market neighborhoods, developers are also planning more apartments to serve what will inevitably be a substantial influx of people wanting to live nearby. 

According to a recent report from Crain’s Chicago Business, Naperville-based Marquette Cos. is planning a 263-unit apartment building for a site over on the southwest corner of Lake and Ada streets, which happens to also lie just a block north of Chicago’s famed Restaurant Row. 

Should the project move forward, the building will reportedly be designed by Brininstool & Lynch and stand 10 stories high once finished. As noted in the Crain’s piece, developers love the location of Lake and Ada, which feels slightly less

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SoMi ApartmentsThe glassy new tower proposed for 1326 S. Michigan has officially received the “okay” from the city to begin construction, according to a new report out from Curbed Chicago that also outlines only the foundation permits have been issued to this point. 

One of several major developments that will no doubt change the landscape of Chicago’s South Loop in the coming years, 1326 S. Michigan will rise 47 stories once finished and add 500 more apartments to Chicago’s rapidly expanding inventory of downtown rentals. 

Dubbed “SoMi”—at least for now—1326 S. Michigan was designed by Chicago-based Solomon Cordwell Buenz and will also include brand new retail space along Michigan Avenue, as well as parking for 190 vehicles. 

 Local developer Murphy

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Construction has officially wrapped up and apartments for rent at AURÉLIEN are now leasing! As one of the hottest new apartment towers to hit the Gold Coast rental market, Aurélien provides a living experience unlike most buildings found throughout the Downtown landscape. 

Above all, the building's location is second-to-none, providing residents with easy access to many of Chicago’s best shopping, dining, and entertainment destinations, not to mention plenty of public transit stops/stations and countless other nearby amenities as well. 

As a newly built tower, living spaces are modern, sleek, and stylish, and the building’s full compliment of luxury lifestyle amenities also elevate apartments at Aurélien to a level that few buildings in the city

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