2016 is the Year of the Crane in Downtown Chicago
Posted by Leo Clark. on
Development around downtown Chicago and beyond has been booming in 2016, and much of this upward trend certainly started before this year. But as pointed out by the Chicago Tribune this morning, we’re actually seeing an extraordinary amount of new construction happening around the Windy City, which makes now a very exciting time in the world of Chicago real estate.
As noted by The Tribune, there are currently 33 high-rises being built right now, which is easily the most development we’ve seen since the recession essentially brought construction to a standstill back in 2008. The activity was even noted by Mayor Rahm Emanuel during a visit to the building site of One Bennett Park, one of Streeterville’s newest and most spectacular skyscrapers to start…
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Commercial development is downright insane in and around Fulton Market right now, and one local developer has clearly taken notice. As first reported by Curbed, McCaffery Interests has recently updated a marketing plan for a prime location at 1201 W. Lake Street, taking a rather simple and conservative rendering and transforming it into a proposal that’s considerable more chic, stylish, modern, and what some might say a little more tech-centric.
In case you haven’t heard, luxury travel magazine Condé Nast Traveler recently released their annual Readers’ Choice Awards, which placed Chicago 2nd in the rankings for the “Best Large Cities to Visit” in 2016.
There’s certainly going to be a lot action around Chicago’s Wrigleyville neighborhood over the next couple weeks, or at least we hope so, and if you plan on making your way over to the ballpark at some point, why not make the most of your trip?
The West Loop development boom continues as reports have now surfaced about developers proposing two new condo buildings near the recently demolished Harpo Studios.
Back towards the beginning of last summer, developers announced plans to build a luxury 27-unit condo building right across the street from Groupon’s headquarters at 600 W. Chicago Avenue. Since then, there’s been hardly any movement whatsoever with the project, and it appears now that Chicago-based Domus Group is switching gears and developing a totally new rental building instead. 
River North is home to some pretty extravagant condo buildings, and as you may have noticed, its inventory of available units just got a little broader. Although strongly opposed by nearby neighbors because of safety-related concerns, condos at the controversial 403 N. Wabash development have now hit the MLS, all but making the project official.
The Ritz Carlton Residences at 118 E. Erie are easily considered to be some of Chicago’s most luxurious condo units, which is why recent price cuts are worth taking note of if you’re in the market for a new unit.