REPORTS: Kenect Chicago Apartment Building Put on the Market
Posted by Leo Clark. on
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.Â
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.Â
Located at 504 N. Green Street, Kenect Chicago officially made its debut last year and features 227 high-end apartment…
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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.Â
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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.
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. Â
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.Â
With 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.Â
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.Â