February 2019

There are 12 blog entries for February 2019.

While it may not necessarily feel like it outside, spring is right around the corner. You’ll find plenty of things to do, see and experience in and around Downtown Chicago this March.

Chicago Polar Plunge- March 3

North Avenue Beach, Lincoln Park

Prepare to dive into a late blast of winter at the annual Chicago Polar Plunge. The event kicks off in early March at North Avenue Beach in Lincoln Park. The extremely chilly event helps raise money for Special Olympics Chicago.  

Chicago Beer Festival- March 9

The Field Museum

If you’d rather sip on a cold brew inside, head to The Field Museum during the Chicago Beer Festival. This event serves up samples from more than 70 different breweries. 

Chicago St. Patrick’s Day Parade- March 16

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A new hotel development is reportedly being planned for another surface parking lot in Chicago’s booming River North neighborhood. According to Crain’s, developers are looking to add the first Andaz Hotel in Chicago, which will be located at 430 N. LaSalle Drive if all goes according to plan.

As noted in the report, a timeline for the project is still unknown, but renderings show a towering glass structure that could potentially rise 18 stories high and hold 199 hotel rooms.

The hotel market in Chicago has gotten considerably more crowded in recent years and hotel room supply has apparently spiked by roughly 10 percent just since the project was approve by the City Council.

Should the development move forward, Illinois would be just the sixth U.S. state

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If you’re in the market for a new luxury condo, you currently have several options to choose from within The Ritz-Carlton Residences. Right now the desirable property has several two- and three-bedroom condos up for sale or for rent. 

A two-bedroom, 2.5-bath unit with around 1,900 square feet of living space is renting right now for $9,100. In comparison, it’s possible to find several other two-bedroom floor plans priced starting at $1,000,000. The priciest two-bedroom currently on the market includes 2,800 square feet of living space, offered for $2.3 million.  

If you need more private space, a three-bedroom with 2,400 square feet of living space is currently on the market for around $1.88 million. The largest and most expensive condo is priced at

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Chicago-based developer Draper & Kramer has officially started work on a new 24-story, 275-unit apartment tower at 2111 S. Wabash Avenue. Despite securing City Council approval back in 2016, the firm was apparently waiting on other development near McCormick Place to happen before starting construction for their latest South Loop project.

Major development throughout Chicago’s South Loop neighborhood certainly isn't lacking and has actually been fairly widespread in recent months and years. The new Wintrust Arena project and a number of hotels have recently been added to the area’s landscape, and high-profile projects like NEMA, Essex on the Park, and 1326 S. Michigan are also getting closer to being finished as well.

Renderings on the new 2111 S. Wabash

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The South Loop apartment market is booming right now and it's showing no signs of slowing down. Here's a closer look at where you might find a great luxury apartment or condo for rent in the neighborhood heading in the busiest time of year for home buyers and renters.

1345 S. Wabash

The newer construction designs of 1345 S Wabash offer the enjoyment of modern, loft-style living in the South Loop. At the same time, the building’s affordability is certainly something you won’t want to overlook in 2019. The property offers up such desirable extras as hardwood flooring and high, exposed concrete ceilings.

1407 S. Michigan

With nearly 200 rentals in all, 1407 S Michigan allows for everything from studios to three-bedroom apartment homes. The South

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As work continues on the mega-overhaul of Chicago’s former main post office, new tenants seem to be signing leases at a more regular pace. According to one of the more recent reports from the Chicago Tribune, the latest company that appears to be heading for 433 W. Van Buren Street is Chicago-based ad agency AbelsonTaylor.

As noted in the report, AbelsonTaylor will make the move from 33 W. Monroe by March 2020, at which point their new 15-year lease at The Old Post Office begins for a roughly 85,000 square foot space.

Back in June of last year, Walgreens announced a 200,000 square foot lease inside the building, and since then, activity has definitely picked up.

Oakbrook Terrace-based Ferrara Candy Co. also has plans to move into a 77,000 square foot

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A high-profile billionaire has listed his condo at the Ritz Carlton Residences, according to reports from multiple outlets.

Germán Larrea Mota-Velasco, the majority owner of mining company Grupo Mexico, originally purchased the 3,500 square foot condominium back in 2015 for $3.6 million and is now looking to unload the 38th floor unit at a cool $8 million.

The asking price isn’t unrealistic as the Chicago-area luxury market had a strong start to 2018 before taking a serious nose dive in the fourth quarter.

Back in June of last year, a bare, 6,000 square foot penthouse condo at the Ritz Carlton Residences traded for $8 million, and 2018 as a whole saw a record number of home sales priced at $4 million and over.

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One of the most ambitious new projects in recent memory is reportedly in the works, and it’s a development that could drastically alter the lakefront landscape as we know it. According to a report from Crain’s, plans could potentially call for a mix of residential, office, and retail space that would encompass roughly 34 acres OVER the railroad tracks just west of Solider Field.

As mentioned in the Crain’s report, Wisconsin developer Bob Dunn, along with Chicago developer Gerald Fogelson, who purchased the air rights over the railroad tracks over 20 years ago, are part of the development group leading the effort, and their proposal will also be presented to the public by Alderman Pat Dowell, whose ward includes the development site.

If approved, the

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Planning to be in the market for a luxury condo this spring? If so, these luxury condo towers around Chicago all have a penthouse unit that JUST hit the market…

The Montgomery

The completely renovated, top-floor penthouse at The Montgomery that just hit the market is about as good as it gets. The views are spectacular, the location is superb, and the Kristy Yarbrough-designed living space features all the bells and whistles. Oh, and there’s also a 1,000 square foot outdoor terrace with a built-in bar and grill as well.

Asking Price: $4,995,000

Lincoln 2550

As one of 4 penthouse condos at Lincoln 2550, this spectacular 4 bedroom, 4.5 bathroom residence features traditional finishes and views that are simply unmatched. In fact, you’ll even enjoy

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Water Tower Place ChicagoAccording to a recent report from Crain’s, the co-founder of Chicago-based Vivid Seats has applied for a construction permit that would allow him to combine six units inside Water Tower Place—one of Streeterville’s most luxurious condo buildings.

As noted in the report, Mr. Vassilatos purchased the six units individually between 2010 and 2016, and the estimated cost to combine these units is somewhere in the $8.5 million range.

The condos are situated on three separate floors inside the building, and combined, offer more than 14,000 square feet of living space.

If actually finished, the newly revamped mega-space would likely become one of downtown Chicago’s most expensive residences.

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