Chicago Real Estate News & Neighborhood Notes - October, 2021

Wolfram 18 - New Luxury Single-Family Luxury Homes Coming to Lakeview!

For luxury, single-family home living on Chicago’s North Side, Wolfram18 brings an exciting mix of new construction possibilities to potential buyers. With just 18 new homes to choose from, buyers can opt for two distinct, multi-level floor plans. 

The north plan at Wolfram 18 is a four-story plan with four-bedrooms and 4.5-baths. This home ranges from around 4,200 to 4,600 square feet of living space. The lower level offers space for a rec room and an office or bonus space, topped off by the main floor and upper level bedrooms. 

The rooftop level makes room for an outdoor terrace and a media room. The slightly smaller south plan at Wolfram 18 also offers four-bedrooms and 4.5-baths, but this particular plan is around 3,800 square feet in size.  

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Sterling Bay To Add 136 Luxury Apartments Adjacent to the New Lincoln Yards Neighborhood

Chicago’s new Lincoln Yards neighborhood aims to be the city’s newest high-profile mega development, promising an impressive collection of parks, green spaces, office towers, and residential high-rises once finished. And although the project is still just in its earliest stages, surrounding development is already well underway. 

According to a recent report from Crain’s, a team of developers has already converted an old industrial building next to the Lincoln Yard site into apartments, and this same group also just ponied up another $15 million for the former headquarters of Anixter Center just down the street at 2032 N. Clybourn.  

The investments are a big bet on Lincoln Yards coming to fruition, which if completed, will ultimately transform the…

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Guinness Plans New Brew Pub in Chicago's Fulton Market

Another big name is coming to Chicago’s Fulton Market. Guinness recently announced it plans to open up a new brewery, pub and restaurant in the neighborhood.

The company has its eye on a former railroad depot on North Morgan Street. According to Guinness officials, customers will be able to indulge in Irish pub food, plus several beers will be made on site.

The idea is to collaborate with local brewers and chefs to bring a taste of Chicago to its beer and food selections. The Fulton Market location is the second place in the US for the iconic Irish beer brand.

In recent years, Guinness also opened up a production brewery close to Baltimore. The Chicago property, however, will operate a 10-barrel brewing system, which is much smaller in size than the other…

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West Loop Development Boom Still On-Track

Despite questions over the pandemic and office space demand moving forward, it appears the Fulton Market building boom is set to continue, according to a recent report from Block Chicago.

Earlier this year, Chicago’s Committee on Zoning lifted a ban on residential development north of Lake Street, providing new opportunities for both developers and new home owners and renters to become part of Chicago’s hottest neighborhood.

For years, residential construction was prohibited around the Kinzie Corridor Overlay District near Fulton Market thanks to all the industrial companies and meat packing facilities that once dominated the landscape.

That landscape, however, has since evolved and not Fulton Market is where you’ll find many of the city’s trendiest…

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MUST SEE: Trump Tower Penthouse Hits The Market For $30 Million

In case you missed it, the 14,260 square foot penthouse on the 89th floor of Chicago’s Trump Tower officially hit the market last month for a cool $30 million. Not surprisingly, the newly available penthouse is now the highest-priced condo currently on the market.

The current owner, Sanjay Shah, the CEO of Hoffman Estates-based software company Vistex, paid $17 million in cash for the unit back in 2014, which at that time was also just a raw space. According to a report in the Tribune, Shah never actually moved into the space but did finish off the unit with walls and ceilings.

Even with those improvements, the opportunity to make it your own is still there, adding significant appeal to a luxury buyer looking for a truly customized living space.

This…

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Booming Housing Market in Chicago Could Be Easing Up; Time To Make a Move?

The housing market in the Chicago-area has been booming, but recently released data shows the market could be easing up from what we saw over the spring and summer seasons. From January to June of 2021, the median home sale price in Chicago’s nine-county metro area hit $300,000.

According to data from the Illinois Association of Realtors, that’s up more than 16-percent when comparing the first half of 2021 to the first half of 2020. The data also shows homes were on the market between March and June of this year for about 38-percent less time. In addition, the market saw about one-third fewer homes even listed for sale during those months.

Despite all of the figures, some experts say the early 2021 enthusiasm could be cooling. They say they’re starting to…

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