Chicago Development News

Major development news came out of the South Loop earlier this week with a preliminary announcement being made to develop the last major unused spaced along the south branch of the Chicago River.

According to a report from the Chicago Tribune, Related Midwest has now completed the purchase of a 62-acre piece of property that sits just southwest of Clark Street and Roosevelt Road, putting into motion a massive, multi-billion joint venture with Luxumborg-based General Mediterranean Holding (GMC) that will no doubt re-shape the city’s skyline.

As noted by The Tribune, the new project will eventually bring thousands of new homes and millions of square feet of office and retail space to the area, which will no doubt compete heavily with the previously

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As we move through the busy spring market, new statistics are coming out regarding new construction in the Chicagoland area with some surprising, and not so surprising trends happening all throughout the city and suburbs. Let’s take a look at a few quick ballet points:

New Construction Sales are Down — With the first quarter of 2016 now in the rear-view mirror, we’re now seeing a decline in new home sales compared to a year ago, which includes transactions all throughout Chicagoland. According to a report from Tracy Cross & Associates, new construction single-family home sales have dropped 14.2%, while new home sales overall, which includes condos and townhouses, have dropped 8.3%.

New Construction in the South Loop Area is on the Rise — Out of the top 10

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A lone rendering has been released that shows what could possibly be coming to 845 W. Madison in the West Loop sometime in the very near future, and it’s one of the more impressive projects to hit this part of the neighborhood in quite sometime. Once the home of H20 Plus, a lotion and shampoo manufacturer that’s moving to San Francisco, 845 W. Madison was initially purchased by the John Buck Company back in 2014 for $20 million, with part of that deal also allowing H20 Plus to still occupy the building for an additional two years.

But now that the two-year grace period is coming to a close, chatter about what’s coming next for the site is once again starting, and in many ways, the timing couldn’t be better. Development all over Chicago is widespread,

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While new development is nothing new to Chicago’s ever-evolving West Loop neighborhood, the long-stalled project called One South Halsted could finally be getting under way after what’s been roughly 5 years since the project was introduced.

Originally proposed back in 2011, One South Halsted actually received approval from the city just a year later, but nothing has really been done since, or even mentioned for that matter. However, according to a recent report from Curbed, it does look as if the project is finally back on track, only now with a few slight modifications from the original proposal.

It appears the large cylinder shape design will remain in tact, but the tower will now only stretch 472 high as opposed to its original height of 490 feet. As

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With demand for West Loop housing still at a seemingly all-time high, it appears another major high-rise could be on the way for a site located alongside the Kennedy Expressway. The project,  called One South Halsted, has actually been “in the works” so-to-speak for quite some time, however nothing has quite materialized as of yet.

An introduction to the unique, cylinder-shaped tower was actually first presented all the way back in 2011, and the city actually gave the project approval the following year. However, up until now, talk about the dynamic new development has mostly been silent.

According to reports, though, it appears developers are finally ready to get construction underway, albeit with a slight modification to the height and number of

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With so many new developments happening in and around River North, it seemed like only a matter of time before changes in the retail landscape made their way to some of the more dated buildings and parts of this ever-changing downtown Chicago neighborhood.

As reported by Curbed, a rendering for a re-vamped retail space at the corner of Wells and Huron has been released by Mid-America Development Group, which seems to be breaking the trend of maximizing the footprint of a development site by building upward rather than only settling for a single-story development.

Instead, however, commercial space at this particular location will in fact remain just one story high, but have a much more appealing exterior, as opposed to the “modern” 90s look that defines

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Final details have emerged regarding the latest luxury high-rise that’s slated for downtown Chicago. Being called One Bennett Park, this stunning new Related Midwest project could actually be one of the more impressive developments to break ground in quite some time, which says a lot given downtown’s recent new construction boom. 

Located at 451 E. Grand, the building, which was designed by New York-based Robert A.M. Stern Architects, features a flawless Art Deco exterior that was inspired from the nearby Palmolive building, which is another one of Streeterville ultra-exclusive high-rises. 

When finished, the new tower will house 280 luxury apartments and 69 upscale condominium residences, although pricing has not yet been released by

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With so much new development in downtown Chicago focused on luxury rentals, the demand for new construction condos is seemingly higher than ever. Sales at projects like 4 E. Elm and No. 9 Walton are reportedly coming in at a very rapid pace, and according to developers, River North’s new Sedgwick at Locust development is now over 75% sold. 

If you’re still unfamiliar with Sedgwick at Locust, this sleek new condo development is currently under construction between Chicago Avenue and the Clybourn Corridor—a location that’s being completely transformed into a hot destination for a wide range of urban dwellers looking to buy or rent. 

Dubbed “SL” for short, Sedgwick at Locust condos feature two-bedroom/two-bathroom layouts that start in the

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A new design for the stately new Helmut Jahn tower possibly coming to 1000 S. Michigan was released earlier in the week, which was first reported by Curbed Chicago. The tower, which is now being called 1000M, will stand 73 stories high when finished, but won’t be classified as a “supertall” building after its height was cut to 832 feet from 1001 feet in its initial design.

As noted in the Curbed report, the design changes likely came from guidelines outlined for the Historic Michigan Avenue District by the City of Chicago Landmarks Commission, as well as from input from a variety of different groups, including South Loop residents, the Alderman’s office, and Chicago’s Department of Planning and Development.

Being developed by New York-based JK Equities

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We’ve all heard about Chicago’s robust new construction market and how insane projects like Wanda Vista and Riverline are currently in the works, which will undoubtedly change the city’s already unmistakable skyline. But up on Chicago’s north side, new development is also playing an active role in today’s real estate market, but more so in the form of luxury single-family homes.

According to a recent report, Lakeview is leading the way in teardowns in Chicago, which are essentially residential properties that are completely torn down to make way for a brand new homes. In most cases, the homes that are being torn down are usually fully functioning properties that of course could use some updating, but aren’t necessarily un-livable. But given developers are

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