Chicago Real Estate News & Neighborhood Notes

Sales at Lincoln Park's Webster Square Finally Set to Begin

With plans for the massive re-development of the old Lincoln Park Hospital having first been proposed nearly five years ago, many of us may have forgotten about this dynamic new Sanz Development project, even despite the rental portion of it well underway from from a leasing standpoint.

But now, after years of planning and with construction still on-going, pre-sales are about to start over at Lincoln Park’s new Webster Square—a development that will ultimately house 95 new luxury condos once completed.

As reported, buyers can expect quite a range of pricing and interior options, with floor plans offering between one and four bedrooms and prices set between $459,000 and all the way up to $2.3 million.

Inside, potential buyers will be presented with…

2676 Views, 0 Comments

Seller Sees $1 Million Return at Trump Tower Chicago

Back in November 2012, reports surfaced about McDonald’s Corp. chief executive Don Thompson buying a 3-bedroom, 3100 square foot unit inside Trump Tower for $3.3 million.

Now, nearly 3 years later, more news has been reported that’s linking McDonald’s and Trump Tower, only this time the company’s retired president and his wife have unloaded their 49th floor unit, which was originally purchased back in 2011 for $1.5 million.

According to Crain’s, Jeff and Karen Stratton listed the 2,700 square foot condo back in March for $2.8 million, and as of July 22nd, the unit has officially closed at $2.5 million.

As mentioned, this particular unit has three full baths, a den attached to the kitchen, and 11-12 foot high ceilings throughout. And although market…

3131 Views, 0 Comments

Developers Back Out of Lincoln Park Condo Tower

Despite being in the middle of a development boom unlike anything we’ve seen since prior to the recession, not every project that’s being proposed comes to fruition, believe it or not. According to a recent report from Curbed, plans for a new 17-story condo tower over on Diversey Parkway have been shot down by the Park West Community Association and local neighbors in the Lincoln Park area due to their concerns over the building’s height and unit count.

The plan for the sleek new Pappageorge Haymes Partners-designed tower called for 78 condos, parking for 81 vehicles, a green roof deck, and as mentioned above a height of 17 stories, however after requests were made to lower the height and reduce the number of living spaces, developers have apparently…

2180 Views, 0 Comments

Chicago's Most Expensive Listing Appears to Have Finally Sold

Chicago’s most expensive listing on the market appears to have finally sold, as its status has recently been updated to “Contingent.” A massive, 6-bedroom, 10.5 bathroom home that features a mind-blowing 20,000 square feet of living space, the residence at 1955 N. Burling Street in Lincoln Park has been one of the city’s priciest since it hit the market all the back back in June 2014.

Now over a year later, it appears a buyer seems to be in place for this immaculate Lincoln Park estate, which has acted as Illinois’ most expensive listing since a $20 million home listing in the Barrington area expired earlier this the year.

As Curbed pointed out, more expensive “pocket listings” have actually been available while 1955 N. Burling sat on the market, but of…

1945 Views, 0 Comments

Strata Condos in River North Quietly Hit the Market

In the midst of the luxury apartment boom that’s taking the downtown Chicago real estate market by storm, it’s nice to finally see a condominium project come through the pipeline, especially one as nice as the recently announced Strata, located at 861 N. Larrabee.

Being developed by the Domus Group, the Strata residences will feature 27 ultra stylish units that range from a $799,000 three-bedroom unit to a lavish $2.1 million full-floor unit with right around 3,500 square feet of living space. Those behind the project describe its design as modern European, while the site itself actually consists of three separate, already-existing structures that are currently being re-worked to appear as one cohesive building.

Inside, potential buyers can of course…

2778 Views, 0 Comments

Chicago's West Side Neighborhoods Showing Fewest Days on Market, Lowest Inventory

You think downtown Chicago’s real estate market is hot? Well, if you’re searching for a place over in the Gold Coast, Streeterville, or River North, you may have an easier time securing a place than those looking in some of the city’s west side neighborhoods.

According to Redfin’s Market Tracker, the neighborhoods with the lowest median days on market are the West Loop, Ukrainian Village, Logan Square, Wicker Park, and West Town—each showing a median days on market at 11 days or fewer.

One contributing factor to homes on the west side selling at an incredible rate is the extremely low inventory that’s currently on the market in these neighborhoods. At last count, the West Loop has the lowest inventory of any neighborhood in the city, a .02 months…

2282 Views, 0 Comments

Luxury Condos Under Construction at 1615 N. Burling in Lincoln Park

Although Lincoln Park’s North Burling Street is where you’ll find some of the most expensive single-family homes in all of Chicago, it looks like some equally luxurious attached living spaces will soon be coming to the area.

Reports are now surfacing about a new Sedgwick Investments and Contemporary Concepts Inc. project that’s brining a sleek new condo project to 1615 N. Burling Street right in the heart of Lincoln Park.

Designed by Pappageorge Haymes Partners, 1615 N. Burling will feature 15 luxury condominium residences that offer between two and three bedrooms and 1,400 and 2,400 square feet of living space. Additionally, potential buyers can expect luxury Lincoln Park-like prices, with units currently on the market between $729,000 and just under…

3039 Views, 0 Comments

Most Expensive Home in the Gold Coast Gets More Expensive

There’s no doubt the home for sale at 924 N. Clark Street in the Gold Coast is impressive. And if you like it, there’s also no doubt you’ll have to pay a premium for it— a premium that is actually $2 million more than was it was previously listed for earlier this year.

A contemporary, 15,000 square foot mansion that has 6 bedrooms, 7.5 bathrooms, and a ton of updates and customizations throughout, 924 N. Clark Street has just be re-listed on the market for a cool $15 million flat.

Originally built back in 1916, you’d certainly never know it from the inside, which has been elegantly and tastefully renovated to include some pretty spectacular finishes. On the property is also a private gatehouse and courtyard, which features a large terrace, a marble…

2740 Views, 0 Comments

MILA at 200 N. Michigan Making Progress Towards Early-2016 Completion

The new 41-story apartment tower coming to 200 N. Michigan Avenue is well underway at this point, exciting those keeping an eye on its progress and just waiting for its delivery early next year. Now being called “MILA” (an abbreviation for Michigan and Lake), 200 N. Michigan Avenue is literally just steps from Chicago’s primary theatre district, the Chicago River, Millennium Park, the Magnificent Mile and also the city’s major business and financial district, making it a great walk-to-work location as well.

Designed by bKL Architecture, MILA of course has a pretty sleek look and feel from the outside, not to mention developers are also aiming for a LEED Silver certification for the building once construction wraps up for the project. When finished, 402…

4703 Views, 0 Comments

Construction Well Underway for 298-Unit HoJo Tower in River North

The River North apartment market is about to get a little more crowded as construction for a 38-story high-rise rental tower continues to move forward, replacing the old 71-room mid-century Howard Johnson Motel.

Designed by bKL Architecture, the HoJo Tower will house 298 apartment units when finished, not to mention an abundance of retail and commercial space which should liven up this stretch or River North. In addition, a small public pocket park will also be situated on the west end of the building site—a feature that’s being designed by Kettelkamp & Kettelkamp out of Evanston.

Earlier today, the Chicago Architecture Blog posted photos of the completely demolished, now-empty site of the former HoJo Motel, which will soon be occupied by this…

2323 Views, 0 Comments