Chicago Real Estate News & Neighborhood Notes

With Chicago’s apartment market still trending upward and rents all over the city also increasing quite dramatically, a new concept is being tested up on Chicago’s north side.

Although most of the spectacular new rental high-rises that are being developed are worth every bit of what tenants are paying, not everybody has the means or is capable of paying the rent prices seen at many of these new luxury towers. And with many people specifically wanting to live in the city at a price point of around $1,000 or less, Cedar Street Companies saw an opportunity.

Being marketed under the Flats brand, which operates under the Cedar Street Companies umbrella, Uptown’s Lawrence House has been completed renovated and revamped to feature affordable micro

It’s been a little while since we’ve heard about Riverline—the mega South Loop mixed-use development in the works that will totally redefine the neighborhood as we know it. But late last week, new details emerged about the project that directly relate to when we might finally see work for this massive undertaking begin.

According to a release from CMK Companies and Lendlease, the partnering developers for the project, groundbreaking for Riverline is finally expected to happen around the middle of next month, with the first phase expected to include two residential towers, 60 new townhouses, and a 3.5 acre riverfront park. 

Designed by Perkins+Will, Riverline will encompass a 14-acre parcel that currently acts as the last major development

With so many new apartment developments coming through the pipeline, and now even quite a few condo buildings (see No. 9 Walton, 808 Wells, and 403 N. Wabash just to name a few), the Aurélien is a fabulous new rental tower that has to some degree slipped through the cracks a bit. 

Being built at 833 N. Clark, Aurélien will be a 31-story, 373 unit apartment tower when finished, adding to the already incredible collection of new construction rentals to be added to the growing Gold Coast/River North inventory.  

The project is a joint venture between Lincoln Property Company and Ryan Companies, while the building itself was designed by Antunovich Associates. Inside, Aurélien will be comprised of 78 studio and convertible units, 212 one-bedrooms, 76

111 W. Chestnut has been vacant for far too long, and for many Gold Coast residents, its a part of the neighborhood that’s simply been an eyesore. But after years of waiting, it appears construction is about to begin on what should be a very nice addition to what’s already one of Chicago’s most sought neighborhoods. 

Being called the Chestnut Row Homes, Pritzker owned Tawani Enterprises is planning to bring one of a kind 8 stunning new rental row houses (Yes, I said Rental) to the vacant lot over at the southwest corner of Clark and Chestnut Street, which look about as appealing and desirable as it gets for new construction in the Gold Coast.  

Inspired by 1880s era homes, these elegant new residences should blend in seamlessly with the already

If you want incredible views and the kind of luxury living only a handful of condo buildings in Chicago provide, the new $12 million listing at Chicago’s Park Hyatt might be worth a peek. Situated high up on the building’s 60th floor, the newly-listed condo residence can easily be described as a unit that “has it all” so-to-speak, as you’ll quickly find out below. 

Inside, the insane 12-foot ceilings give the unit an overwhelming sense of space, while its chic contemporary style overall can be credited to Himmel/Bonner Architects—an established firm based here in Chicago with a solid reputation for high-quality.  

Finishes all throughout the condo are absolutely top-of-the-line and the custom wood and stone work is over-the-top incredible. The views

Although it feels like we’ve been settled into our chic new downtown Chicago office for awhile now, it’s still sometimes hard to believe how fast we continue to grow and expand. From a small office space in Chicago’s famed John Hancock building to a stylish new loft office with free-flowing work spaces, built-in iMac stations, and even a fully stocked kitchen and bar for all those long hours we put in for each and every one of our clients, the new Gold Coast Realty office now feels like home more than ever before.

Inside, you’ll find high 12-foot wood-beamed ceilings, gorgeous 100-year-old exposed brick walls, gleaming hardwood flooring throughout the entire office, and all the necessary modern updates that continue to put us on the cutting edge of

Plans for another glass condo tower have been revealed for a possible location in Chicago’s Gold Coast. Late last week, Curbed reported that Lexington Homes will be building a sleek new 28 story condo tower on the current site of a surface parking lot right next door to the Ruth Page Center for the Arts at 1016 N. Dearborn. 

With construction already well under way on 4 E. Elm and 9 W. Walton, the luxury condo market in Chicago’s Gold Coast neighborhood is once again booming, and downtown Chicago overall is finally starting to see an influx in new construction condos after luxury rentals have merely dominated the marketplace over the last few years. 

The project’s slick design in from Chicago-based Pappageorge Haymes Partners, a firm that is behind

Although it’s seemed like a story that will never end, there appears to be a final plan in place for the Old Chicago Post Office that has sat vacant for years—finally. News broke yesterday about the city reaching an agreement with the massive building’s new owner, and the best part might be that work can actually begin immediately.

The first order of business is to begin work that will satisfy more than 20 code violations, which will include replacing the building’s roof, restoring the historic lobby, repairing the building’s beautiful facade, add new high-speed elevators, and completely re-work the electrical, plumbing, heating, and ventilation systems.

The entire renovation will be done in three phases and early estimates are showing the entire project

A high-profile penthouse in Streeterville has sold, according to reports from Crain’s Chicago Business. The seller, who is also the former president of E-Trade Securities, officially unloaded the 16th-floor unit at 270 E. Pearson last week for $4.3 million, or for $1.5 million more than it was purchased for back in 2008. 

As noted in the report, the unit features 3,600 square feet across its two levels, and has three full bedrooms, three full bathrooms, and an 800 square foot balcony. Thanks to its location across the street from Lake Shore Park, the space also enjoys incredible views of Lake Michigan, and of course the park below which backs up to the Museum of Contemporary Art Chicago. 

The Belvedere condo is only one of 9 condos publicly listed

According to numerous reports, Chicago’s highest-profile condo development in the works is now over 25% sold before building permits have even been approved. Earlier this week, the Chicago Tribune spoke with Magellan National Marketing Director Jim Losik, who updated the project’s sales by reporting 110 of the 406 planned condos at Vista Tower are now under contract, which include the building’s full-floor units priced around $9 million. 

Developers are hoping to finally begin construction later this month or sometime in August, with construction expected to be finished by late 2019. 

Vista Tower was designed by Jeanne Gang of Studio Gang Architects and will ultimately stand 93 stories high with condo residences not even beginning until the 73rd