Anticipation Building For Optima Signature — Streeterville's Newest Luxury Tower
Posted by Leo Clark. on
If you haven’t noticed Streeterville’s newest apartment tower at 220 E. Illinois nearing completion, chances are you haven’t looked up. Designed and developed by David Hovey, this gleaming new high-rise is certainly one of the city’s shiniest new apartment buildings to hit the market in recent memory, not to mention one of the more impressive as well.Â
At 56 stories, 220 E. Illinois, or perhaps better known now as Optima Signature, will feature 490 apartment residences, which of course are just now being delivered at a time in which the downtown market is being flooded with new rentals. But like so many of Hovey’s other projects, Optima Signature promises to be special.Â
Over the first 39 floors, Streeterville’s newest apartment tower will feature a…
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Downtown Chicago’s hot hospitality segment is showing no signs of cooling as the South Loop’s latest high-rise hotel prepares to kick off construction at the southeast corner of Wabash and 11th Street. Though some early preparation and pile-driving was reported last month, the development received its first permit late last week. Estimated at $15,000,000, the scope of the work allows construction of the tower’s foundation and superstructure up to the seventh floor. With the official city go-ahead in hand, caisson crews can now begin planting the 306-foot tower’s subterranean roots.Â
With real estate prices continuing to spike around Chicago’s downtown and west side neighborhoods, both investors and home buyers are now looking for the city’s next “up-and-coming” communities for either an investment property or perhaps to even buy a new place to call home. And if you believe a recent report from The Tribune, Chicago’s Edgewater and Rogers Park neighborhoods may just be two locations in the city that fit that description perfectly.Â
If you’ve ever gone for a run or taken a bike ride along Chicago’s breathtaking lakefront, chances are you’ve passed a dark and somewhat unassuming pavilion that sits just off the Fullerton-Lake Shore Drive interchange, which is known to some locals as the Theater on the Lake. It seems like forever that this particular structure has sat dormant, just waiting for someone to expose its potential and maximize its unique location that’s literally just steps from Lake Michigan.Â
The last undeveloped lakefront parcel in the Gold Coast could soon see some action, at least according to a new report from Curbed Chicago. Being proposed is a new eight-story building that could include as many as 58 units, which is significantly different from the original proposal from Draper & Kramer that called for a sprawling 40-story high-rise. That proposal, which as made all the way back in 1997, drew significant resistance among Gold Coast residents and of course failed to materialize into anything concrete over the years. Â
Although condos for sale at One Bennett Park have already been listed on the MLS for weeks, the project is now cleared for takeoff so-to-speak as reports are surfacing about Related Midwest finally clearing a $240 million construction loan to finance the massive new project.Â
If you’re looking for luxury in Lincoln Park, look no further than Norweta Row—a luxury new development that will replace the recently demolished Tag Furnishings outlet building at the corner of Wrightwood and Hermitage. Â