Chicago Real Estate News & Neighborhood Notes - Leo Clark.

Chicago Mayor Reaches Goal of Installing 100 Miles of Bike Lanes Before the End of 2015

Over the past 3 to 4 years, the city of Chicago has really made a strong effort to improve its biking infrastructure, and now, reports are surfacing that Mayor Emanuel’s ambitious goal of installing more than 100 miles of protected bike lanes by the end of 2015 has officially been reached.

The goal, which was set back in 2011, is a testament to the mayor’s passionate devotion to making Chicago America’s most bike-friendly city, and today, there are now nearly 300 miles of designated bike lanes in Chicago, with construction continuing on even more lanes well underway.  

In fact, the plan is to install 50 more miles of better biking lanes over the next 4 years, which couldn’t come at a better time. According to a recent article from The Chicagoist, biking…

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The 5 Downtown Chicago Developments We're Most Excited About

In many ways, 2015 has been the year of new development in downtown Chicago, but with so many large-scale projects underway, much of the city’s new construction will undoubtedly carry into 2016, and even beyond for some of the mega projects that have either been proposed or are already in the works.

As of today, 21 high-rises are currently under construction somewhere in Chicago, ranging from apartments to condos, and even a few hotel developments mixed in as well. And while that number is certainly impressive on many different levels, some of the city’s most impressive projects could still be on the way, like Wanda Vista, 113 Roosevelt, or the massive River South development that could potentially bring 900 more residences to the South Loop riverfront.

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900 More Units Possibly Coming to Site Just South of River City?

An impressive new proposal is making headlines, as a joint venture between CMK and Australian-based Lend Lease has been unveiled that would potentially bring 900 more housing units to the South Loop, just south of River City.

Already planned by the same developers are 2,700 homes just north of River City on a riverfront site that’s now being called “River South.” If both developments move forward, the entire South Loop landscape could be dramatically different by the time construction wraps up, and that’s a good thing for a downtown neighborhood that was arguably impacted the most by the recent housing crash that started back in ’09.

Complete details about the latest addition to CMK and Lend Lease’s plans are still sketchy, but what we do know is that…

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Large Redevelopment Project Proposed For Lincoln Park Industrial Building at Hermitage & Wrightwood

Another day, another development proposal for Chicago. According to a recent report from Curbed, a developer has recently unveiled plans to redevelop the large industrial building at Wrightwood and Hermitage in Lincoln Park that was most recently a large outlet store for Tag Furnishings.

If all goes according to plan, Broder Lincoln Park LLC would replace the industrial, loft-style building will two new four-story buildings that would be a mix of both rentals in one building, and condos in the other.

Already surrounded by luxury townhomes and up-scale single-family dwellings, the projects would also offer very spacious residences, with the average size for each condo unit having about 2,500 square feet, and the average rental offering about 1,250 square…

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No. 9 Walton Already Over 50% Sold

Although news about a new luxury tower coming to 9 W. Walton in the Gold Coast only first broke back in March, the upscale condo tower known simply as No. 9 Walton is now already 50% sold despite first units not even expected to deliver until the summer of 2017.

Being developed by JDL and located on the corner of State and Walton, No. 9 Walton is the epitome of luxury living in Chicago’s iconic Gold Coast neighborhood. Its elegant design blends in seamlessly with all the historic and mesmerizing architecture that surrounds this part of downtown Chicago, while inside, only 66 ultra-exclusive residences will be offered over its 36 total stories.

Described by JDL as the city’s first “six-star” condominium development, top-of-the-line finishes and lavish…

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Major Residential Projects, Including an 83 Story Tower, Could be Coming to The Loop

A report from Crain’s earlier this week detailed some exciting news relating to The Loop—Chicago’s primary business and financial district. Although nothing is official, two major projects are currently in the works, with one tower that’s being proposed for the corner of Clark and Lake Streets potentially standing 83 stories high and housing 600 hotel rooms and 300 apartment units.

Just three blocks west, also on Lake Street, an additional tower is also being planned, which would stand 33 stories high and house an additional 265 apartment rentals. This particular tower is being developed by Thomas Roszak, who has already acquired the two parcels the building would need, and is hoping to break ground in the spring.

The primary advantage of each building…

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Ultra-Thin, 41-Story Tower Could Be Coming to 151 N. Michigan Avenue Near Millennium Park

Just when you thought development around downtown Chicago couldn’t get anymore widespread, recent reports are detailing a unique proposal that would bring an ultra-slim, 41-story tower to Michigan Avenue just north of Millennium Park.

According to Crain’s, the new Loop tower would feature a mix of hotel rooms and full-time residences, and in a part of town that seems to be gaining a substantial amount of momentum with the opening of Maggie Daley Park and the announcement of the Mag Mile Apple Store moving further south to around this location, the idea seems to make a lot of sense.

As of now, it’s unclear whether the residences inside the building will rentals or condos, however, early plans call for about 74 units.

Initially, Park Ridge-based developer…

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WEST LOOP: 24-Unit Luxury Condo Tower Could Be Coming to 900 W. Washington

Aside from 4 E. Elm and 9 W. Walton in the Gold Coast, much of Chicago’s new development news in recent years has largely related to luxury rentals, but according to reports, an ambitious new luxury condo project could be making its way over to the West Loop if River North-based Taris Real Estate has its way.

Earlier in the week, DNAinfo.com broke the news about plans for a striking new 10-story condo development proposed for 900 W. Washington over in the West Loop neighborhood, which currently occupies a small, one-story office building.

In short, the project would only include 24 ultra-high-end condo residences with anywhere from two to five bedrooms and a price point starting at more than $500 a square foot. Included in the development would also…

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More High-End Rentals Approved For River North

It’s OFFICIAL! The Chicago Plan Commission has now approved plans for a shiny new 22-story mixed-use tower over in River North that will include 251 high-end apartments and 12,000 square feet of retail space.  

Plans for the new JDL project, which will eventually replace the Ed Debevic’s restaurant in the neighborhood, was first unveiled back in April, but uncertainty about whether or not the project would move forward grew when local officials made mention of the incredible amount of new apartments flooding the market, specifically around the downtown area.

But as demand continues to maintain for high-end rentals in downtown Chicago, construction continues to move forward for a wide-range of large-scale projects, which now includes the Ed Debevic’s…

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LUXURY: An Updated Look at Chicago's Most Expensive Condos Currently on the Market

With summer slowly winding down and the traditionally busy fall market right around the corner, we thought now might be a good time to check-in on some of downtown Chicago’s most expensive condos currently on the market.

As of today, August 21st, some familiar units still occupy a place on this ultra-elite list—like Vince Vaughn’s immaculate 5-bedroom penthouse at The Palmolive Building, for example—while plenty of new construction units inside some of Chicago’s most dynamic new condo buildings are also still available.

The extravagant, 7,100 square foot full floor residence with 2,750 square feet of outdoor space at the spectacular new No. 9 Walton building is listed for a cool $12.5 million, while the raw full-floor penthouse at the Ritz Carlton…

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