199-Unit Apartment Tower Proposed for 1411 S. Michigan
Posted by Leo Clark. on
Although Chicago’s downtown market might appear to be oversaturated with new upscale apartment residences, the development boom seems to be pushing forward as reports surface about a new 199-unit tower possibly making its way over to the South Loop.
Being developed by Chicago-based Russland Capital Group, preliminary plans have the new building stretching 15 stories high, which if approved, would be located at 1411 S. Michigan Avenue, just a short walk away from Soldier Field.
Chicago’s occupancy rate for high-end apartments dropped to 92.2% in the third quarter, which has some industry experts wondering if a softening of the market is finally on the horizon. But regardless of Chicago’s most recent development boom bringing a record-breaking 4,500…
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In a city as large as Chicago, there’s going to be some unique properties to hit the market every now and then. In most instances, you might see a home or condo with a funky layout or some interesting interior finishes, but rarely do you come across what just hit the market over at Lake Point Tower.
No. 9 Walton (9 W. Walton St. Chicago) is one of the highest profile condo developments to break into the downtown market since perhaps the Ritz Carlton Residences were finished along Chicago’s famed Michigan Avenue, and buyers have clearly responded over the past 12 months or so. 
Downtown Chicago’s hotel inventory got a little deeper last week as the 287-key Conrad Chicago hotel made its official debut. Located at 101 E. Erie inside the former DraftFCB office, Conrad Chicago is just steps from the Magnificent Mile and right in the center of all the action. Countless restaurants, stores, and downtown attractions virtually surround the new Conrad Chicago, but its design and overall concept should also be appealing to frequent business travelers visiting the Windy City as well.
Development around downtown Chicago and beyond has been booming in 2016, and much of this upward trend certainly started before this year. But as pointed out by the Chicago Tribune this morning, we’re actually seeing an extraordinary amount of new construction happening around the Windy City, which makes now a very exciting time in the world of Chicago real estate.
Commercial development is downright insane in and around Fulton Market right now, and one local developer has clearly taken notice. As first reported by Curbed, McCaffery Interests has recently updated a marketing plan for a prime location at 1201 W. Lake Street, taking a rather simple and conservative rendering and transforming it into a proposal that’s considerable more chic, stylish, modern, and what some might say a little more tech-centric.
In case you haven’t heard, luxury travel magazine Condé Nast Traveler recently released their annual Readers’ Choice Awards, which placed Chicago 2nd in the rankings for the “Best Large Cities to Visit” in 2016.
There’s certainly going to be a lot action around Chicago’s Wrigleyville neighborhood over the next couple weeks, or at least we hope so, and if you plan on making your way over to the ballpark at some point, why not make the most of your trip?