Tagged : Chicago Apartments

Although Kenect Chicago is one of the newest apartment buildings to be developed in Chicago’s River West neighborhood, Akara Partners has just recently put the entire building up for sale. 

First reported by Crain’s Chicago Business, the news of the building being put on the market isn't completely out-of-the-ordinary right now with investors paying steep prices for large multi-family buildings all over town, and especially around downtown. But also noted by Crain’s, Chicago’s supply of new construction apartments is continuing to swell and another 8,000 units are expected to be delivered between now and the end of 2018. 

Located at 504 N. Green Street, Kenect Chicago officially made its debut last year and features 227 high-end apartment

In development news that doesn’t involve the West Loop or River North, reports have surfaced about a possible zoning approval for the first phase of a new 500-unit apartment building expansion in downtown Chicago’s Medical District, which would involve the construction of a new 19-story, 254-unit tower that would inevitably replace two existing parking garages. 

Slated fore the northeast corner of Ashland and Taylor, if approved, the new bKL Architecture-designed tower would also include about 28,000 square feet of retail space and parking for 245 cars. 

The second phase of the potential development would also involve a second tower to eventually be built, as well as the complete overhaul of an existing apartment building that already has 410 units.

In case you haven’t noticed, Chicago’s Uptown is transforming into one of the city’s most distinguished up-and-coming neighborhoods. Along with a number of large scale residential projects either already underway or currently being discussed, plans for another apartment project were just recently revealed that will only add to the neighborhood’s future appeal. 

According to reports, a vacant lot and old auto repair shop at 4906-4918 N. Clark Street near Andersonville could be developed into a chic new apartment building that could hold as many as 60 rentals and from the looks of it even plenty of ground level retail space as well.  

As of now, nothing has been made official and developers still need to present the project to Uptown’s Zoning Advisory

While some of Downtown Chicago’s new apartment towers may seem pricey on the surface, a new report from RENTCafé shows the Windy City is actually pretty affordable compared to other top financial markets across the globe. 

According to their analysis, Chicago only has the 17th highest rent prices out of the top 30 global finance centers, which includes markets like New York City, Boston, San Francisco and Los Angeles in the U.S.; and London, Paris, Tokyo, Sydney, and Dubai around the world. 

The RENTCafé report analyzed the average rent price for a one-bedroom apartment between 600 and 999 square feet, and Chicago, which as mentioned placed 17th on the list, had an average rent price of just $1,720. New York City, which ranked as the most expensive

With the issuing of a permit that will allow Florida-based Dolce Living Communities Residential to convert a vintage office tower into stylish new apartments and additional ground level retail space, the Loop’s on-going transformation into one of the hottest places to call home in downtown Chicago seems to be pushing forward as we navigate the first month of 2017.

The building, which is located at 29 S. LaSalle, was originally designed by Jenney & Mundie and first completed all the way back in 1902. But now, roughly 114 years later, a totally revamped interior is on the way for 29 S. LaSalle, which according to reports is being designed by renowned Chicago-based architectural firm FitzGerald Associates Architects.  

Permit documents have the total