Chicago Real Estate News & Neighborhood Notes - May, 2022

Construction Begins on New Embry Condos

Posted by Leo Clark. on May 17th, 2022

Construction is now underway on a new condo building in Chicago’s West Loop neighborhood. Unlike many of the neighborhood’s other buildings, Embry features a modernized, Art Deco-style façade.

The 15-story building will eventually make room for 58 new condos. Buyers have the option of two-, three- and four-bedroom configurations at Embry. There are also some duplexes in the tower. Many of the units are priced upwards of $2 million. 

The new condos come with such extras as a home office, a den, a full-size laundry room and a large private terrace. Shared amenities include an indoor/outdoor fitness center, a putting green, and a yoga studio. Other planned amenities include an outdoor deck with a firepit and a residential lounge.

The new condo…

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Vacant Streeterville Office Space Could Be Turned Into a Hotel

Posted by Leo Clark. on May 15th, 2022

The owner of a Streeterville tower with empty office space has a new plan to bring people to the building. It includes turning five vacant floors of existing office space into a 101-room hotel.

The proposal involves floors six through 10 of the Axis Apartments & Lofts building at 446 E Ontario Street. Plans call for remaking the space into rental units with a two-night minimum stay.

Unlike a traditional hotel room, the units available in this building would be more like short-term rentals, with one- to three-bedrooms. There could also be a landscaped open terrace for renters available on the building’s sixth floor.

Despite demand for hotel rooms being significantly down over the past two years due to the pandemic, those behind the project are betting on a…

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Google Close to Leasing New Space in Fulton Market District

Posted by Leo Clark. on May 3rd, 2022

A plan to expand Google with more office space in Chicago’s Fulton Market District is pushing forward. According to published reports, the search giant wants to lease around 200,000 square feet of additional space in the area.

That amounts to about half of a new office building at 400 N Aberdeen Street. The recently completed building currently offers a total of 425,000 square feet of space.

If all goes through, the deal would turn Google into the building’s anchor tenant. It would also significantly help boost downtown’s office market, which has been impacted by an increase in remote workers since the pandemic first began.

For its part, Google has hired hundreds of people in the Chicago area since the pandemic started. The company is reportedly targeting…

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