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        <title>Chicago Real Estate News &amp; Neighborhood Notes</title>
        <link>http://www.goldcoastrealty-chicago.com/blog/chicago-development-news/</link>
        <description>Chicago real estate news and other tidbits about neighborhoods, new construction, new development, condos, apartments, and other residential real estate. </description>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/fulton-market-building-owner-hopes-to-cash-in-while-area-construction-boom-rolls-on.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/fulton-market-building-owner-hopes-to-cash-in-while-area-construction-boom-rolls-on.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Fulton Market Building Owner Hopes to Cash-In While Area Construction Boom Rolls On</title>
            <description> <![CDATA[ 
As developers and investors set their sights on Fulton Market, at least one building owner is hoping to cash-in. A single-story property at 941-945 W Lake Street just went on the market. While there’s no official list price, some expect the building could get bids close to $15 million. The existing owner, also a real estate investor, paid just $2.3 million for the same property 10 years ago.Of course, that was about six months before Google announced it was moving in. That announcement helped boost property values in the neighborhood to some of the highest in the city, as new trendy restaurants and hotels moved in.The property is right at the heart of Fulton Market and is considered to be one of just a handful of remaining redevelopment sites. It is currently surrounded by other existing or proposed projects. The building is currently being leased to a product design and engineering firm for five years. It’s likely a new owner would purchase it for its current use, then eventually have the opportunity to redevelop it.While currently the building is 15,000 square feet, a new buyer could choose to redevelop the site into a building with up to 173,000 square feet. The largest remaining site for development in Fulton Market sits about two-blocks away. Earlier this year there was talk of a new buyer in negotiations to purchase it.


Photo: Google Streetview






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            <pubDate>Fri, 05 Aug 2022 08:04:00 -0500</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/site-across-from-millennium-park-will-get-a-3-story-restaurantretail-space-41-story-commercial-tower.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/site-across-from-millennium-park-will-get-a-3-story-restaurantretail-space-41-story-commercial-tower.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Site Across From Millennium Park Will Get a 3-Story Restaurant/Retail Space; 41-Story Commercial Tower Plan Scrapped </title>
            <description> <![CDATA[ 
The long-discussed, potential project at 151 N. Michigan is once again changing course, according to recent reports. What was previously going to be a 41-story commercial tower is now going to be a significantly smaller 3-story commercial building. The existing building, which lies at the corner of Michigan Avenue and Randolph Street, has been vacant sine 2008 when La Strada Ristorante closed. But given its small footprint, development challenges seem to make any future project a bit more complicated. The owners, Park Ridge-based BJB Partners, also had designs on building a 184-unit apartment tower, with updated plans to add a hotel in 2105. But that plan inevitably dissolved. The new plan, according to multiple reports, will allow the developer to generate income from a 3-story building that will likely include both restaurant and retail space while also maintaining the ability to add on down the road or simply sell the site later on. But as The Real Deal mentions, the plans for a restaurant/retail space come at a time when downtown offices are far from a full recovery after the pandemic and retail spaces on the Mag Mile are already struggling to be filled.






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            <pubDate>Mon, 27 Jun 2022 15:29:00 -0500</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/developers-planning-21-story-248-unit-apartment-tower-just-off-mag-mile.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/developers-planning-21-story-248-unit-apartment-tower-just-off-mag-mile.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Developers Planning 21-Story, 248-Unit Apartment Tower Just Off Mag Mile</title>
            <description> <![CDATA[ 
A Chicago-based development group is eyeing a 21-story apartment tower just one block east of the Magnificent Mile, a project that could be the first new construction apartments Streeterville has seen in five years. According to Crain’s, Chicago-based Marek Development is partnering with Chicago-based architecture firm NORR to bring 248 apartments to the northeast corner of East Grand Avenue and North St. Clair Street, and the building would also include 41,000 square feet of office space, 8,000 square feet of ground-floor retail space, and parking for 100 cars. Believe it or not, downtown apartment construction has been on the upswing over the past year as rents and occupancies have recovered fro pandemic-induced declines. Despite Streeterville being a hotspot for apartment development over the last decade, One Bennett Park was the most recent project completed back in 2019. Part of the slowdown, however, is due to a very limited number of sites left still to develop. Just three major projects in the neighborhood are currently in the works, including a two-tower project at 400 N. Lake Shore Drive (the old Spire site) and a supertall skyscraper just east of Tribune Tower that will include 439 apartment residences once completed. According to developers, the new project will include smaller-sized apartments, with studio units from 492 to 706 square feet occupying half of the 248 units. The remaining units will have one and two bedroom units and most apartments will also include balconies. The building will also feature a co-working lounge, a fitness center, and a rooftop outdoor pool and sundeck.






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            <pubDate>Sun, 12 Jun 2022 12:31:00 -0500</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/construction-begins-on-new-embry-condos.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/construction-begins-on-new-embry-condos.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Construction Begins on New Embry Condos </title>
            <description> <![CDATA[ 
Construction is now underway on a new condo building in Chicago’s West Loop neighborhood. Unlike many of the neighborhood’s other buildings, Embry features a modernized, Art Deco-style façade.


The 15-story building will eventually make room for 58 new condos. Buyers have the option of two-, three- and four-bedroom configurations at Embry. There are also some duplexes in the tower. Many of the units are priced upwards of $2 million. 


The new condos come with such extras as a home office, a den, a full-size laundry room and a large private terrace. Shared amenities include an indoor/outdoor fitness center, a putting green, and a yoga studio. Other planned amenities include an outdoor deck with a firepit and a residential lounge.


The new condo building could be delivered in spring of next year. You’ll find Embry at 21 N May in Chicago. That’s between W Madison Street and West Washington Boulevard. 


Recently, another developer revealed plans for a separate condo property that sits just a few blocks away from Embry. It’s also planning for new condos priced starting from just under $2 million, with some of its most expensive condos expected to be priced in the multi-million-dollar-range.









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            <pubDate>Tue, 17 May 2022 16:52:00 -0500</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/thousands-of-new-apartments-planned-for-west-loop.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/thousands-of-new-apartments-planned-for-west-loop.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Thousands of New Apartments Planned For West Loop </title>
            <description> <![CDATA[ 
Chicago’s West Loop neighborhood is on track to add more than 9,000 new apartments. If all goes as planned, reports suggest it could mean more new apartments in the West Loop than the combined total of all of the city’s other downtown neighborhoods.Apartment development has really taken off in the Fulton Market District in recent years. There are currently about 19 multi-family developments either in the planning stage or already under construction in the district. New residential development is perhaps the latest phase for Fulton Market, which has recently welcomed in a number of major companies and corporate headquarters. One of the latest apartment projects, meanwhile, is a 30-story building located at 160 N Morgan Street. The developer behind it is planning to bring in around 280 new apartments with that project, plus it has plans for another three buildings in the area. That developer, alone, is projecting more than 1,300 new apartments for the neighborhood. It’s by far not the only one. There are several other projects from other developers out there too, each of which also plans for hundreds of additional residential units.






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            <pubDate>Mon, 25 Apr 2022 17:04:00 -0500</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/new-apartment-tower-planned-for-streeterville.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/new-apartment-tower-planned-for-streeterville.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>New Apartment Tower Planned For Streeterville </title>
            <description> <![CDATA[ 
A new apartment tower could be coming to Streeterville. The planned high-rise sits just one block east of the Magnificent Mile on a corner lot that’s currently occupied by a parking garage.Mavrek Development is joining with GW Properties and Luxury Living Chicago Realty to build the 21-story apartment building at the corner of North St Clair Street and East Grand Avenue. Chicago architecture firm NORR will be designing the tower, which will eventually include 248 apartments, thousands of square feet of ground floor retail space and tens of thousands of square feet of office space. Around half of the rental apartments will be studios, while the rest will come in one- and two-bedroom layouts. A majority of the apartments will have the advantage of private balconies for outdoor space. The building will additionally offer its residents access to a rooftop swimming pool and deck, a fitness center and a coworking lounge. While Mavrek has already developed a number of low-rise multi-family developments in the city, this marks the company’s first high-rise in the central business district. The proposed site sits close to area shops, plus it’s just down the street from a Whole Foods Market.






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            <pubDate>Mon, 18 Apr 2022 16:07:00 -0500</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/another-new-apartment-building-may-be-coming-to-the-west-loop.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/another-new-apartment-building-may-be-coming-to-the-west-loop.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Another New Apartment Building May Be Coming to The West Loop </title>
            <description> <![CDATA[ 
Hundreds of new apartments could be coming to the West Loop. Two local developers have proposed a new 36-story apartment building, which could mean 362 more apartments for the area. 


The site sits on South Green Street, close to the Jane Byrne Interchange. It’s currently home to low-rise buildings and a parking lot. 


If all goes through, the new apartment tower will be one of the tallest buildings in the neighborhood. The architect for the 404-foot building is locally based Goettsch Partners.


Plans call for the building to rise up from a three-story podium, which includes some parking spaces. One of the developers, Golub amp; Co, already has projects in the Loop, South Loop and Streeterville.


The other developer, GSP Development, has ties to Glen Ellyn and Lombard. The two developers still need a zoning change approved before the project can move forward.


If the new apartment tower does happen, it will join a number of other new projects coming to the West Loop. While this particular project sits south of the former meatpacking district, many projects are slated for the Fulton Market District. 


Some figures suggest developers could finish more than 1,800 new apartments in the West Loop over the course of this year and next. Another 9,000 or so are in the planning phase. That’s a considerable number that would actually top the total number of proposed units in all of downtown’s other neighborhoods combined. 






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            <pubDate>Fri, 08 Apr 2022 21:40:00 -0500</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/large-new-apartment-tower-slated-for-fulton-market.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/large-new-apartment-tower-slated-for-fulton-market.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Large New Apartment Tower Slated For Fulton Market </title>
            <description> <![CDATA[ 
Fulton Market could soon make way for a massive new apartment tower. If the plan goes through, it could become one of the largest residential complexes in Fulton Market.The plan calls for a 32-story tower with 433 residential units on West Fulton Street. The developer behind the project is Fulton St Companies, which is working in conjunction with Chris Merrill, co-founder of Harrison Street Real Estate Capital. The duo purchased the property at 1201-1215 West Fulton Street last fall for $20 million. Morris Adjmi Architects is the firm responsible for designing the new tower.Fulton St Companies appears to be expanding from the West Loop, where the firm has seven properties with plans for six projects in all. Five of them are commercial developments, while the sixth project is a residential complex on West Randolph Street. A few months ago, the same company put a building in Fulton Market up for sale. The building recently sold for more than $41 million, setting a new record in terms of price per-square-foot. Development in Fulton Market has really picked up in recent months, thanks to a recent change in local regulations. Early last year, the Chicago Plan Commission lifted a ban on residential development in Fulton Market, opening up the opportunity for developers to move into the neighborhood. A local alderman also backed off on his objections, in exchange for the addition of more affordable units.






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            <pubDate>Thu, 24 Feb 2022 12:50:00 -0600</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/modbox-homes-growing-in-popularity-throughout-chicago.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/modbox-homes-growing-in-popularity-throughout-chicago.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Modbox Homes Growing in Popularity Throughout Chicago</title>
            <description> <![CDATA[ 
Bungalows and two-flats may be commonplace in some Chicago neighborhoods, but there’s a new home style that seems to be sweeping across the city. The homes are often called “Mod Boxes”, but no matter what you call them, they’re boxy, contemporary new residences.It’s said these types of homes are the result of using computer-aided design programs. The homes are box-shaped, and sometimes covered by fiber cement panels or an aluminum-like façade.They’ve been called “McModerns” or even “Gentrification Cubes” because these boxy homes are often constructed as replacement homes or infill homes in existing neighborhoods. In some cases, they’ve spread across entire blocks. One editor and former columnist coined the named “Minecraft Modern”, because the homes seem to resemble the block-like structures found in Minecraft video games. There are several examples in the city, including a contemporary, Mod Box home in Jefferson Park. The home has a flat roof and street-facing windows. It replaced a small bungalow, and now stands out in a neighborhood mostly filled with two-flats, bungalows and ranches. In many cases, the homes the Mod Box homes replaced were older, smaller and sold for considerably less than the new, modern homes. It’s common to find Mod Box homes with oversized windows, high ceilings and open concept floorplans. Because the homes are often brand new, or newer construction, they also tend to come with some of the most modern interior features and finishes. This includes new hardwoods, custom lighting and high-end finishes. Some also offer quartz countertops and large backyards, perfect for gathering with family and friends.









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            <pubDate>Thu, 17 Feb 2022 11:28:00 -0600</pubDate>
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            <guid>https://www.goldcoastrealty-chicago.com/blog/where-to-buy-a-luxury-condo-in-chicago-in-2022.html</guid>
            <link>https://www.goldcoastrealty-chicago.com/blog/where-to-buy-a-luxury-condo-in-chicago-in-2022.html</link>
                        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
                        <title>Where to Buy a Luxury Condo in Chicago in 2022</title>
            <description> <![CDATA[ 
As we start a new year, buyers will find plenty of great options when it comes to Chicago luxury condos. Here are some of the top buildings to select in 2022:


St. Regis


For sweeping views of Lake Michigan and the city itself, consider the St Regis. This visionary property rises up a full 101-stories above Downtown Chicago. The building offers such exclusive amenities as a 47th floor amenity space with a Zen garden terrace, a swimming pool, a wine tasting room and a demonstration kitchen. You’ll also find a fitness center, a screening room and an incredible Sky Lounge with floor-to-ceiling windows to admire the surroundings.


Reed at Southbank


The Reed at Southbank is a luxury property that sits right along the river. The building is home to more than 200 private residences, as well as an amenity deck with a swimming pool, fire pits, apatio and outdoor yoga. You’ll also find access to a two-acre park, a fitness center with Peloton bikes, and some co-working space.


1400 Monroe


Found in the West Loop, 1400 Monroe makes room for more than 40 luxury residences. The boutique building also offers some private balconies and outdoor terraces. In addition, you’ll find a private, deeded parking garage, dry cleaning services, some storage lockers and a dog-washing station at 1400 Monroe.


Madison+Carpenter


The brand new Madison+Carpenter also sis in the West Loop. This property offers homes with a large amount of square footage, plus private elevator entry and large terraces. This boutique elevator building provides two garage parking spaces with each home. You will also find some on-site storage.


6 North Bishop


Yet another West Loop building to consider is 6 North Bishop. This is a new construction building with large floor plans and private terraces. The units also come with a secure storage locker and either a den or home office space. The building additionally provides heated garage parking.


One Chicago


The supertall One Chicago condo tower is home to a LifeTime fitness center with indoor/outdoor pools, a basketball court and fitness classes. A Whole Foods Market sits on the ground floor of the building, while you’ll also find a dog run, a golf simulator and a putting green, concierge service and some valet parking.


1550 on the Park


The luxurious new 1550 on the Park is home to 32 private residences, as well as such amenities as a fitness center, a club room and lounge, a business center and indoor parking.


Photo by Aaron Huber on Unsplash






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            <pubDate>Sun, 19 Dec 2021 14:06:00 -0600</pubDate>
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