River North Real Estate News

Construction for the 26-story tower coming to State and Huron initially began with foundation work that has already been in progress since April. Aside from that, however, not much has been said about the new CA Venture project, at least compared to so many other upscale rental projects.

Earlier this month, however, new details and renderings were released about the relatively mysterious project that has somehow flown under the radar in what’s been an extraordinarily busy time for the apartment market in downtown Chicago.

Part of those details include a total unit count of 102 apartments, as well as the declaration of the building officially housing rental units despite some earlier chatter that the plan could call for condos. In addition, it’s also been

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It seems like forever ago that The John Buck Co. revealed plans for a towering 24-story apartment tower that will essentially be located right smack-dab in the middle of Chicago’s bustling River North neighborhood.

Since last September, when many of us first learned about the dynamic new project, not much has been happening at the Assumption Catholic Church parking lot—the site of the sleek new glass tower—until now.

According to reports from Curbed, the parking lot has now officially been fenced off and it looks like construction could beginning at any time on what’s now being dubbed 3Eleven (named for its address at 311 W. Illinois). Prior to any construction on the tower, a fairly small, 1,400 square foot garage will need to be demolished, which

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Just when you think things might finally start to cool down when it comes to hotel development in downtown Chicago, two developers have apparently filed zoning applications to build out two new hotels in River North that would add another 399 rooms to the already bustling hotel market.

As reported by DNAinfo, Chicago-based Akara Partners are looking to develop a 17-story, 200-room hotel at Huron and Clark, which is right around 5 blocks west from the famed Magnificent Mile. The vacant lot at 100 W. Huron was actually purchased last year by Akara with plans to develop condos, but the slow condo market delayed the project and apparently a new hotel seems to be the new direction they’re heading.

Just a few blocks south at Lasalle and Hubbard, another

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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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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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With so many new apartment buildings going up in River North, investors are certainly seeing the potential for office and commercial space within the neighborhood as well. According to a report from Crain’s, the 35-story office tower at 321 N. Clark Street is going up for sale, which has nearly 900,000 square feet of commercial space.

After a record volume in office sales in 2015 that totaled over $6 billion in downtown Chicago, the commercial market in many ways is as hot as many other segments of the Chicago real estate market.

Early estimates have the building selling for between $350 and $375 per square foot, putting the final sales price at over $335 million. As noted by Crain’s, a Houston-based venture purchased 321 N. Clark Street for $247.3

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Back in early January, news broke about another condo tower coming to River North on Wells Street, and now, nearly two months later, we have a much better idea of what to expect from this dynamic new project. Known simply as 808 Wells, this incredible new Smithfield project will feature 50 luxury homes that range in size from 1,600 to 5,000 square feet.

Above all, the building’s sleek glass design is certainly what stands out most and clearly fits in with the modern River North landscape that continues to evolve with each new project that helps maintain its fashionable reputation.

Amenities at 808 Wells will include 24 hour door service, a large fitness center with a terrace, additional unit and bike storage, wine storage, and on-site garage parking.

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While one high profile downtown Chicago hotel is currently being planned, another is now being listed for sale. According to reports from Crain’s, the 261-room Hotel Palomar at 505 N. State Street is now being listed on the open market at a time when hotel values in the Windy City seem to be at all-time highs. 

Although a price has not yet been disclosed, the likely value of Hotel Palomar has almost certainly gone up since it first opened up back in 2010, likely netting its owners a fairly substantial profit. 

 One of four hotels run by Kimpton Hotels & Restaurants, the boutique Hotel Palomar occupies the lower floors of the 36-story tower at 505 N. State, which of course is a prime location in one of the city’s hottest and trendiest

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While 2014 and 2015 were in many ways defined by high-profile rental developments as it pertains to the local real estate market, we could finally be seeing a shift that brings more new construction condos to downtown Chicago, which is a welcome sight to those out there still looking to buy.

Last month, the Chicago Plan Commission approved plans that could bring another impressive looking condo tower to River North, one in which stands 23 stories high and houses 55 individual condo residences. According to reports, the development site is located at 800-820 North Wells, which stretches from Chicago Avenue over to Institute Place—a space that’s almost right in the center of one of Chicago’s liveliest and most vibrant neighborhoods.

The unique and

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Trump Tower in Chicago’s River North neighborhood is one of the city’s most exclusive places to call home. You don’t need us to tell you that. But when a developer is planning to buy two separate units on the 80th floor and combine them to make one spectacular rental suite, it’s definitely something that still catches your eye, even for Trump Tower.

As first reported by Crain’s, a Northbrook real estate investor has closed on unit 80a for more than $3.1 million and 80b for more than $1.4 million, and plans to combine the two units into a build-to-suite rental that could be an attractive option for a high-profile athlete or executive who wants a custom-designed living space without the headache of buying.

Recognizing a shortage in penthouse units in

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