Jaw dropping news from our friends at Crain’s Chicago today, as it appears a development group is looking to build FIVE towers with nearly 2,700 residential units just four blocks south of the Willis Tower.

What would be a joint venture between Chicago-based CMK and Australian construction company Lend Lease Group, the entire project would encompass the 7.3 acre riverside parcel between Harrison Street and the River City condominium complex at 800 S. Wells.

According to reports, the largest of the 5 buildings would be on the north end of the site, standing 47 stories high and housing 626 residential units. As of now, it hasn’t been determined whether the project will include rentals or for-sale housing, or perhaps a combination of both.

Although some…

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The Row Bucktown

Although our focus tends to be on the downtown Chicago real estate market, every now and then we branch out into many of the surrounding neighborhoods around town should we happen see a great deal or want to highlight a particulate property or project.

While browsing around earlier today, we noticed that only 1 row home remains on the MLS over at The Row—a dynamic new 24-unit row home development located in the heart of Bucktown and just steps from the new 606 Trail that officially opened earlier this month.

Over the last several years, the Bucktown real estate market has exploded, and it’s now one of the hottest areas to not only call home on the west side, but in all of Chicago. If you’re still unfamiliar with The Row specifically, homes here have…

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Less that 2 years ago, Walton Street Capital purchased the 184-room Hotel Lincoln, located at 1816 N. Lincoln Avenue up in Lincoln Park. Now, looking to capitalize on strong investor demand for hotels in Chicago, that same firm is putting Hotel Lincoln back on the market in hopes of making a pretty substantial profit.

After acquiring Hotel Lincoln back in 2013, Walton Street made some pretty significant improvements to the property, which included installing a retractable roof to its rooftop bar, the J. Parker, allowing it to be open all year long.

In addition, occupancy levels and room rates are significantly higher than pre-recession levels, further boosting hotel values throughout the city. According to reports and those familiar with the property,…

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Chicago Real Estate Market

The National Association of Realtors’ recently released their most recent Existing Home Sales Report, which shows home sales in nearly every price range are up dramatically from this time last year.

As noted in the report, five of the six price ranges tracked saw an increase, with the under $100,000 category showing the only decline, down just over 10% from 2014. And those behind the report are linking an overall lack of inventory in distressed properties on the market with that particular decline, which is a telling sign at just how well the market has recovered since the crash.

As for the other categories, home sales in the $100,000 to $250,000 price range are up 9%, home sales in the $250,000 to $500,000 price range are up an astounding 21.2%, homes…

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1336 N. State Parkway, Chicago IL

A new Gold Coast listing is getting a lot of attention from the local media, but when you see its listed for the cool price of $14.5 million, it's easy to see why. Now the third priciest home on the market in Chicago, 1336 N. State Parkway is a stunning 9,000 square foot Georgian-style mansion that’s been fully renovated from top to bottom.

Originally built in 1914, 1336 N. State Parkway is located adjacent to the onetime Playboy mansion in the Gold Coast, while inside, it offers five bedrooms, five bathroom, four half bathrooms, five fireplaces, a library, a fitness room, and even an at-home movie theater.

According to reports, the current owners bought the property in 2013 for $7.13 million, although as mentioned above, extensive updates and…

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Luxury Chicago Real Estate

While Chicago’s luxury real estate market seems to be red hot with several new condo developments in the works and a number of high-end apartment towers having just been completed in recent months, sales prices for Chicagoland’s top 5% of listings have actually dropped by about 3.9% from the first quarter of 2014 to $1.491 million. Although the price drop is relatively minimal, it’s also very intriguing given the bottom 95% of Chicagoland listings saw average sales prices jump substantially by nearly 12%, or to about $265,000.

The analysis, which was originally conducted by national real estate data company and brokerage Redfin, isn't all bad however when it comes to the Windy City’s luxury segment of the marketplace. In terms of the average days on…

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Belly Up Chicago

The South Loop real estate market is once again picking up steam, meaning more restaurants and things to do are also popping up all over this up-and-coming Downtown Chicago neighborhood. Yesterday, Eater Chicago brought those already living in the South Loop more good news, with Belly Up planning to open by summer’s end.

For those who haven’t heard, Belly Up will be an authentic, Texas and Kansas City barbecue joint once officially making its debut, which couldn’t be more perfect for the South Loop given the lack of top-notch barbecue options in the area.

According to owners Nick and George Tsoukalas, Belly Up will offer a pretty casual and fun atmosphere with country music playing in the background, but aside from that, the decor and design of the…

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833 N. Clark, Chicago IL

As first reported by our friends at ChicagoArchitecture.org, the new 34-story high-rise at 833 N. Clark is now officially underway, marking the beginning of two residential high-rises that are set to begin construction sometime during the month of June.

Obligated to incorporate the historic Georgian Revival style bank building that sits on the site as part of an agreement made with the city to revive this landmark-status structure, 833 North Clark is a pretty unique project that, when finished, will have eliminated yet another surface parking lot in the city, providing even more residential retail and residential space in one of the hottest neighborhoods in the entire city.

In all, the new 833 N. Clark development will stand 380 feet high, house 392…

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Circa922 Rentals

Although Downtown Chicago’s luxury condo market seems to be making a strong comeback—see 4 E. Elm, 9 W. Walton, and 100 W. Huron—news about Circa922 being sold $75 million, or around $500,000 per unit, suggests the luxury rental market doesn’t appear to be going anywhere any time soon.

According to a recent report from Crain’s, Clarion Partners looks to be acquiring the 149-unit apartment building over in the West Loop—a location that, along with being extraordinarily hot over the past several years, should continue to attract renters will the opening of 1K Fulton, an ambitious new office project that will soon be the Chicago home of Google.

The entire Circa922 development includes an older, 45-unit building along with the new 10-story, 104 unit tower…

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Shake Shack Chicago

Six months after Shake Shack’s Chicago debut in River North, a second downtown location is now officially open for business. Located inside the new Chicago Athletic Association Hotel at 12 S. Michigan Avenue, the new Shake Shack will be situated on the hotel’s ground level, and will actually be one of the first things you see upon entering the hotel lobby. And if you’re worried about a fast food chain ruining the character and appeal of the historic 1893 Venetian-Gothic building in which both the hotel and Shake Shack call home, the design and decor inside the restaurant blends in seamlessly.

The restaurant’s booths have an old-fashioned art deco look and feel, while the ceilings, moldings, and marble floors are all a testament to the building’s…

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