May 2017

If you’re looking to buy or rent at Chicago’s distinguished Trump Tower, there may be no better time to do so than right now. As of the time of this post, 95 listings are currently on the market inside 401 N. Wabash, ranging from a $2,400 per month studio rental to a sprawling 6,850 square foot penthouse with a price tag of $12,500,000. 

With 486 residential units inside Trump Tower Chicago, the incredibly high inventory represents nearly 20% of the entire building. 

At last count, 30 of the 95 listings at Trump Tower are rentals while the remaining 65 units are condos for sale. The lowest priced unit currently for sale is a 575 square foot studio that’s listed for $265,000, which just recently had a price drop of $10,000, and as mentioned, the most

Although Kenect Chicago is one of the newest apartment buildings to be developed in Chicago’s River West neighborhood, Akara Partners has just recently put the entire building up for sale. 

First reported by Crain’s Chicago Business, the news of the building being put on the market isn't completely out-of-the-ordinary right now with investors paying steep prices for large multi-family buildings all over town, and especially around downtown. But also noted by Crain’s, Chicago’s supply of new construction apartments is continuing to swell and another 8,000 units are expected to be delivered between now and the end of 2018. 

Located at 504 N. Green Street, Kenect Chicago officially made its debut last year and features 227 high-end apartment

In development news that doesn’t involve the West Loop or River North, reports have surfaced about a possible zoning approval for the first phase of a new 500-unit apartment building expansion in downtown Chicago’s Medical District, which would involve the construction of a new 19-story, 254-unit tower that would inevitably replace two existing parking garages. 

Slated fore the northeast corner of Ashland and Taylor, if approved, the new bKL Architecture-designed tower would also include about 28,000 square feet of retail space and parking for 245 cars. 

The second phase of the potential development would also involve a second tower to eventually be built, as well as the complete overhaul of an existing apartment building that already has 410 units.

The Fulton Market District is a neighborhood that’s generating a lot of buzz lately, but mostly on the commercial side of things. Just recently, news broke about another loft-style office hitting the market on May Street, and of course the addition of the new Google building at 1K Fulton continues to create momentum for not just Fulton Market but also the entire West Loop area overall. 

But speaking of May Street, a couple of the West Loop/Fulton Market’s most expensive residential listings both happen to be inside the same building right now—312 N. May. 

The first unit here, a 5 bedroom, 4.5 bathroom loft with a whopping 5,000 square feet of living space, is listed for a cool $2,149,000, which doesn’t seem like a bad deal given it’s a living space

A 75,000 square foot loft-style office building has been put up for sale in Fulton Market, which could result in the area’s next major re-development project. Located at 400 N. May Street and occupying an entire block at May Street and Kinzie, the potential is certainly there as on-going commercial and residential development continues to transform this part of the west side into a bustling downtown neighborhood. 

According to a recent report from Crain’s, 400 N. May Street is currently 88% leased and potential investors could simply acquire the building as an investment property that’s already generating income. But maximizing the site’s income potential with higher density will likely be the eventual plan for whoever ends up buying the property.  

Construction has officially begun on the massive new Lincoln Common mixed-use development, which will take over the 6-acre site that was once the home of Lincoln Park’s Children’s Memorial Hospital. 

Officially located at the corner of Fullerton, Lincoln, and Halsted, Lincoln Commons will bring 1.1 million square feet of new office, retail, and residential space to the neighborhood, which will apparently include 105,000 square feet of retail space and 540 apartment and condo residences. 

As noted by Curbed, only a construction permit for the 7-story assisted living structure has been issued for The Lincoln Common project, although you can still get a better glimpse at that the full project will entail thanks to a number of new renderings that were

The new mixed-use project planned for 1435-1443 N. Wells is officially a “go” according to a recent report from Curbed. Officially designated a transit-oriented development (TOD), the new Old Town development will offer a mix of 50 apartment residences, ground level retail space, and parking for just 15 off-street spaces.

The building’s attractive design, which rises 6 stories and features a setback-layout for its upper floors to limit its visual impact from below, is from NORR, while the project itself is being developed by LG Development. 

Despite its approval, the project does come with a little controversy, as a group of existing older buildings will have to be demolished to make way for the new structure. But as other Old Town projects continue

Another new apartment tower is being planned for the Loop, which is hardly a surprising headline anymore as more and more residential construction continues to transform this particular part of the city. Once thought of as Chicago’s primary business and financial district, the Loop has all of a sudden become one of the hottest places to call home now thanks to newly built high-rises such as OneEleven, Mila, 73 E. Lake, and Marquee at Block 37.  

As first reported in the Tribune, Chicago-based Sterling Bay and Magellan Development are looking to demolish a brick four-story building at 300 N. Michigan Avenue to make way for the new rental tower, although details beyond that are still unclear.  

As of now, Sterling Bay currently owns the possible