With so many new developments happening in and around River North, it seemed like only a matter of time before changes in the retail landscape made their way to some of the more dated buildings and parts of this ever-changing downtown Chicago neighborhood.
As reported by Curbed, a rendering for a re-vamped retail space at the corner of Wells and Huron has been released by Mid-America Development Group, which seems to be breaking the trend of maximizing the footprint of a development site by building upward rather than only settling for a single-story development.
Instead, however, commercial space at this particular location will in fact remain just one story high, but have a much more appealing exterior, as opposed to the “modern” 90s look that defines
Chicago Real Estate News & Neighborhood Notes
New Luxury Tower Design Modeled After Chicago's Historic Palmolive Building
Final details have emerged regarding the latest luxury high-rise that’s slated for downtown Chicago. Being called One Bennett Park, this stunning new Related Midwest project could actually be one of the more impressive developments to break ground in quite some time, which says a lot given downtown’s recent new construction boom.
Located at 451 E. Grand, the building, which was designed by New York-based Robert A.M. Stern Architects, features a flawless Art Deco exterior that was inspired from the nearby Palmolive building, which is another one of Streeterville ultra-exclusive high-rises.
When finished, the new tower will house 280 luxury apartments and 69 upscale condominium residences, although pricing has not yet been released by
…Sedgwick at Locust Condos Now Over 75% Sold
With so much new development in downtown Chicago focused on luxury rentals, the demand for new construction condos is seemingly higher than ever. Sales at projects like 4 E. Elm and No. 9 Walton are reportedly coming in at a very rapid pace, and according to developers, River North’s new Sedgwick at Locust development is now over 75% sold.
If you’re still unfamiliar with Sedgwick at Locust, this sleek new condo development is currently under construction between Chicago Avenue and the Clybourn Corridor—a location that’s being completely transformed into a hot destination for a wide range of urban dwellers looking to buy or rent.
Dubbed “SL” for short, Sedgwick at Locust condos feature two-bedroom/two-bathroom layouts that start in the
…Chicago Shakespeare Theatre Adding New $35 Million Performance Space
News relating to Navy Pier over the winter has mostly related to the new-and-improved Ferris wheel, which will be larger and include climate controlled gondolas with speakers, padded seats, and even TV screens.
Not to be outdone, however, the Chicago Shakespeare Theatre has now announced plans for a spectacular $35 million performance space that will not only boost Chicago’s already renowned cultural footprint, but also enable the company to expand its programming range as well.
Being called “The Yard,” the new annex will sit below a huge, whale-shaped canopy and feature 9 movable seating blocks that can be arranged in a variety of different layouts, which can of course be based on each individual performance.
Depending on the production, The Yard can
…New South Loop Tower Makes Design Changes
As noted in the Curbed report, the design changes likely came from guidelines outlined for the Historic Michigan Avenue District by the City of Chicago Landmarks Commission, as well as from input from a variety of different groups, including South Loop residents, the Alderman’s office, and Chicago’s Department of Planning and Development.
Being developed by New York-based JK Equities
Luxury New Construction Homes on the North Side in High Demand
We’ve all heard about Chicago’s robust new construction market and how insane projects like Wanda Vista and Riverline are currently in the works, which will undoubtedly change the city’s already unmistakable skyline. But up on Chicago’s north side, new development is also playing an active role in today’s real estate market, but more so in the form of luxury single-family homes.
According to a recent report, Lakeview is leading the way in teardowns in Chicago, which are essentially residential properties that are completely torn down to make way for a brand new homes. In most cases, the homes that are being torn down are usually fully functioning properties that of course could use some updating, but aren’t necessarily un-livable. But given developers are
River North Commmercial Tower at 321 N. Clark Hits The Market
With so many new apartment buildings going up in River North, investors are certainly seeing the potential for office and commercial space within the neighborhood as well. According to a report from Crain’s, the 35-story office tower at 321 N. Clark Street is going up for sale, which has nearly 900,000 square feet of commercial space.
After a record volume in office sales in 2015 that totaled over $6 billion in downtown Chicago, the commercial market in many ways is as hot as many other segments of the Chicago real estate market.
Early estimates have the building selling for between $350 and $375 per square foot, putting the final sales price at over $335 million. As noted by Crain’s, a Houston-based venture purchased 321 N. Clark Street for $247.3
Smithfield Makes 808 Wells Official, Sales Model Opening Soon
Above all, the building’s sleek glass design is certainly what stands out most and clearly fits in with the modern River North landscape that continues to evolve with each new project that helps maintain its fashionable reputation.
Amenities at 808 Wells will include 24 hour door service, a large fitness center with a terrace, additional unit and bike storage, wine storage, and on-site garage parking.
9,000 New Apartment Units Planned Through 2017
Although an apartment bubble for downtown Chicago seems ready to burst at anytime, the demand for high-end rentals in the city still seems to be as strong as ever. Over the next two years, roughly 9,000 more apartments will be added to the marketplace, giving renters an abundance of choices all over town.
In 2016 alone, developers will be completing 4,000 new units—a record for Chicago—and nearly 5,000 more later on in 2017. According to Appraisal Research Counselors, that’s almost a 28% increase in supply, leaving many to believe something has to give at some point.
Despite the overwhelming jump in supply, however, the strong job market in downtown Chicago along with what appears to be a lack of demand in buying downtown condos seems to have others in
CA Washington to Offer Highly Sought After 3-Bedroom Units in Chicago's West Loop
Although you tend to see a lot of chatter about some buyers wanting smaller, more efficient living spaces, just as many other home buyers in Chicago want lots and lots of living space that might include an extra bedroom or two for added convenience.
In Chicago’s West Loop, where much of the real estate landscape consists of trendy loft conversions with maybe two bedrooms at most, finding a new place to live with the kind of living space luxury buyers demand isn’t always easy—until now.
Introducing CA Washington, a luxury new condo development from Belgravia that features huge 3-bedroom, 3-bathroom condos right in the heart of one of Chicago’s most sought after neighborhoods. Inside, these highly desirable units will include much more than just a few