Chicago Real Estate News & Neighborhood Notes

If you’re comparing home loans, you’ve probably come across VA Loans.

Sure, they sound appealing. Afterall, a VA Loan can mean as little as $0 down.

The catch, of course, is that not everyone qualifies.

This type of loan first came about in the mid 1940s. The idea was to help service members who didn’t necessarily have excellent credit or a down payment to buy a home.

To this day, VA Loans still make it possible for veterans and active military members to purchase a home.

To get a VA Loan, you have to either be a

• Veteran
• Active service member
• Military Spouse (certain qualifications)

A Certificate of Eligibility, or rather COE, is used to confirm you do indeed qualify for the benefits of a VA Loan.

If you do qualify, a

The Chicago Plan Commission recently gave its approval to two major projects. The first is a new condo tower in the Gold Coast.

The 35-story building is slated to go in at 40 W Oak Street, just across the street from a local library and elementary school. Plans call for 75-units to grace the luxury tower. The original plan was for 90 condos in a taller design, but it was pared back after feedback from the community.

It will also include some new parking spaces. The entire Gold Coast project replaces an existing parking garage.

Despite some opposition, the commission also recently narrowly endorsed a new Amazon shipping and logistics center. It’s scheduled to go in at 2424 S Halsted Street in Bridgeport.

The 112,00 square foot distribution center includes 15

Gyms, fitness centers, and spas have been hit especially hard during the pandemic but the creative minds behind BIÂN, a new members-only wellness club,  have decided to move forward with their much-anticipated Grand Opening after pushing it back from their original date back in late-summer.

Housed inside the former Japanaios restaurant space at 600 W. Chicago Avenue, BIÂN merges Eastern and Western medical practices through a wide-range of social and wellness services that include cryotherapy, holistic apothecary, message therapy, and acupuncture just to name a few.

BIÂN’s grand River North facility is described as a lavish, design-forward sanctuary, which based on the photos couldn’t be more accurate. Along with being a complete medical facility,

Just a few months after selling a lavish, four-bedroom condo at 9 W. Walton for $7.2 million, Cubs right fielder Jason Hayward has reportedly purchased a newly built mansion in the Gold Coast for $5.9 million.

Built by Bloomfield Development, Hayward’s new residence features six bedrooms, six full bathrooms, two half bathrooms, and a whopping 7,430 square feet of total living space.

According to the Tribune, the home also has a five-stop elevator, a paneled living room, a large dining, a 4-car garage, two separate rooftop terraces, and a lower level media room, bar, and wine cellar.

A rare opportunity to own a lavish Gold Coast penthouse has presented itself at 1500 N. Lake Shore Drive. What some are calling “the most astonishing penthouse ever built in the city of Chicago,” the six-bedroom, 8,000 square foot duplex hit the market for an equally astonishing asking price of $17 million.

Occupying the entire 24th and 25th floors of 1500 N. Lake Shore Drive, the unit hitting the market is especially significant given it has only had three owners since the
building’s construction back in 1929.

Interior finishes include vaulted ceilings, direct elevator access into a grand formal entry, a 40-foot long walnut paneled gallery hall, 20’ high original coffered ceilings, a library, original bronze hardware, hand-carved doors, and even a

Two large-scale apartment developments have officially started construction, according to a recent report on Block Club Chicago. The first, a 26-story high-rise at 1400 W. Randolph, will feature 278 luxury apartments, as well as ground-level retail space.

Across the street, and also across from Union Park, 1454 W. Randolph will stand 11 stories high and include 243 new construction apartment units.

Combined, both projects will include over 100 affordable housing units and the projects will also provide 500 jobs during the construction process as well.

Despite some resistance from area residences, each of these high-profile apartment projects were ultimately approved and will generate $2.6 million for the Neighborhood Opportunity Fund and help

Renters are sure to find the available options at 2101 S Wabash appealing for a variety of reasons. From the uniqueness of the individual units to the location, there’s plenty to love about the property.

First of all, this boutique building offers just the right level of amenities. You’ll find a fitness center with free weights, plus there’s an elevator, a media room and available bike storage.

The floor plans are something else renters are sure to enjoy. The loft-style units at 2101 S. Wabash come in your choice of either a studio, one-bedroom or two-bedroom floor plan. This provides a range of options for renters, from a cozy 600 square feet to a much larger rental with upwards of 1,100 square feet of living space.

Of course, renters are sure to fall in

Looking for the right new construction condo in a smaller boutique-style building? Here are several intriguing options to consider right now...

2246 N. Western Ave

The first sits at 2246 N Western Avenue. This new construction condo building features large units with front balconies and high-end finishes. Each condo in the boutique building comes with a parking space in the attached garage. Within walking distance of public transportation, the building is also close to area restaurants and nightlife.

2541 N. Wayne

Another good option is 2541 N Wayne in Lincoln Park. The brick and limestone building offers a half-dozen flats filled with an array of desirable features and finishes. These new construction condos come with generous

Mortgage rates jumped to 3.12% this week, up from 3.04%  according to Bankrate’s weekly survey of the largest lenders in the country.

Compared to this time last year, when rates were just under 4%, current rates are still hovering around historic lows, making it a great time to buy even despite the pandemic.

Over the past 52 weeks, which of course covers the entire COVID-19 crisis, 30-year fixed rate loans have averaged 3.49%, or about 0.37 percentage points higher than current rates that already factor in this week’s increase.

As noted by many mortgage pros, recent news of a COVID-19 vaccine becoming closer to being ready is giving everyone optimism towards the economic state starting to shift to a recovery and ultimately back to normalcy.

For now, most

Found in Old Town, Chicago’s North + Vine provides elegant apartments and an array of added amenities. The property includes your choice of a studio, one, two-, or even a three- bedroom apartment, all of which are accented by a number of high-end features and finishes.

Each of the apartments at North + Vine includes high ceilings, oversized windows, walk-in closets and spa-like baths. In addition, some of the units offer up impressive views of the city skyline.

Community amenities are plentiful, from the private terrace with fire pits to the swimming pool and sundeck. The property also offers its residents access to a health club, resident lounge, a library and a work lounge.

Other extras include reserved garage parking, a dog run and pet spa, plus a