Chicago Development News

After a six-year partnership, one of the developers behind the Vista Tower is buying out its majority partner for $270 million. Wanda Hotel Development recently agreed to sell its own 90-percent stake in the building to an affiliate of its Chicago partner to cut debt.

Previously, Magellan Development Group owned just 10-percent of the project. The Chinese partner had been looking for a buyer for its stake in the property for at least two years. The on-going pandemic has made its current financial woes even more challenging. 

The $270 million buyout accounts for Wanda’s equity stake in the estimated $1 billion condo and hotel project. Wanda and Magellan collectively financed construction of the tower with a $700 million loan. 

The 101-story tower

One Chicago is one of the city’s highest-profile condo developments currently in the works. Having broken ground back in March 2019, construction has been steadily moving along for over a year already and progress on the mega two-tower project is already starting to have a big impact on the surrounding River North neighborhood.

According to reports, One Chicago’s towers will be positioned atop a podium building that will house a brand new Whole Foods Market, a Life Time athletic club, a sprawling 120-foot long dog park, and both above and below ground parking for up to 1,100 vehicles.

Included within the towers will be a whopping 735 rental units and just 77 luxury condos. But what specifically makes the condo residences unique is that they will start on

A new skyscraper is on track to become the City of Chicago’s second tallest building. Aldermen recently approved plans for Tribune Tower East, which will eventually rise up 102 stories.

When finished, the skyscraper will surpass Trump Tower, which is currently Chicago’s second tallest tower. It will also become the nation’s third tallest building.

The $700 million project calls for more than 500 new condos and apartments, a 200-room hotel and space for hundreds of cars in its parking garage. Around a dozen of the apartments will be set aside as affordable housing.

In exchange, developers will be paying millions into the city’s Affordable Housing Opportunity Fund and millions more into Chicago’s Neighborhood Opportunity Fund. They’ll also be renovating

A short distance from some of Chicago’s best attractions, the CA6 Condos sit within mere steps of some of the city’s most coveted restaurants and available nightlife. Of course, with a closer look inside it’s easy to see what else is sure to make this future property so desirable.

Buyers have the option of either a three- or four-bedroom residence in five different available floor plans. In all, more than 70 condos are planned for the building, including some spacious two-story penthouse units. 

While ranging from around 2,100 to 3,100 square feet in size, every residence in the building provides for two private outdoor spaces, floor-to-ceiling windows and some skyline views. An in-house design team can help buyers customize with flooring,

Looking to buy a new construction condo in Chicago right now? Check out what’s currently available in the city’s hottest new construction condo developments currently in the works..

Vista Tower

Vista Tower is probably Chicago’s highest-profile condo tower under construction, mainly because of its size, its location along the river, and of course the renowned architect behind the memorizing project. When finished, we think Vista Tower will feature some of Chicago’s most luxurious living spaces, not to mention some of the most premium downtown and lake views you’ll find anywhere.

One Bennett Park

One Bennett Park is noted for its elegant limestone design and downright perfect location right in the heart of Streeterville. Designed by legendary

For new construction in the West Loop, you cannot go wrong with the luxury units of 1400 Monroe. The condo building is home to just 42 units, in both two- and three-bedroom designs.

Buyers can expect to find custom-designed kitchens and large master suites at 1400 Monroe. You will also find light-filled homes due to the loft-style windows, open floor plans and high ceilings.

Additional features include continuous hardwood floors and the addition of some smart home technology. The kitchens come with an island, quartz countertops and a wine refrigerator. 

The new condos additionally come complete with large balconies and functional storage space. This is on top of the sweeping views of nearby Skinner Park and the city’s skyline from the units of

When it comes to the nation’s top 10 largest metro areas, Chicago had the smallest share of new housing units for 2019. That’s according to a recently released study by Construction Coverage.

The pace of housing construction in Chicago last year was less than half that of the rest of the nation. In Chicago, 19 housing units were built for every 10,000 people. When looking nationwide, the number was nearly 42 units per 10,000 people.

Los Angeles came in slightly above Chicago with 22.5 new units per 10,000 people. According to the study, the Chicago metro was also the only one in the top 10 that saw a dip in its population between 2013 and 2018.

Last year the Chicago area saw around 18,000 new housing units. More than half of them were multi-family units,

An awe-inspiring, brand new, construction building located at 1157 W. Erie St. offers 9 luxurious condominium units. The building is an absolute eye-catcher with its spectacular 2-tone brick exterior, flexicore and concrete construction, and attached heated garage parking.

1157 is situated in a prominent area within the coveted West Town neighborhood. Comprised of several notable Chicago neighborhoods northwest of the Loop; West Town is a thriving community that has seen extensive development in the last decade and continues to evolve. Residents of this condo community are within walking distance to the Fulton District, West Loop, dining, entertainment, and much more.      

The luxurious units vary in size but all contain balconies, open spaces,

Lakeview is home to a brand-new apartment building that was built with resident comfort and convenience in mind.

The luxurious Four50 apartment building, located at 450 Belmont Ave, was designed with smart materials and a sophisticated aesthetic. It contains units ranging in size from a studio up to a 2280 sq. ft. 3-bedroom apartment.

The property is packed with amenities including; a fitness center, intercom system, bike storage, secure parking garage, furnished lobby, pet-friendly areas, concierge services, and work-play lounge. Additionally, a roof-top terrace allows residents to watch the built in televisions, keep warm by the fire pit, and of course take in the beautiful city views from the 18th floor.

The Four50 Apartments are close to a

Another major West Loop / Fulton River District project is finally moving forward after being long-discussed and approved. According to a number of reports, Vancouver-based Onni Group is ready to break ground on a new apartment tower at 354 N. Union Avenue, a vacant parcel that lies immediately south of K2.

For now, it seems like plans call for the development to stand 32 stories high and include 373 rentals and 143 parking spaces. The glass design is pretty similar to what you’ll see in most new construction apartment buildings these days and renderings can be found over on Curbed Chicago.

Additional details about 354 N. Union still aren’t available but one rendering shows an outdoor swimming pool at ground level. And given the building’s size,