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        <title>Chicago Real Estate News &amp; Neighborhood Notes</title>
        <link>https://www.goldcoastrealty-chicago.com/blog/tags/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/new-west-loop-hyatt-hotel-the-latest-proposal-for-chicagos-hottest-neighborhood.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/new-west-loop-hyatt-hotel-the-latest-proposal-for-chicagos-hottest-neighborhood.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>New West Loop Hyatt Hotel the Latest Proposal For Chicago's Hottest Neighborhood</title>
    <description> <![CDATA[ 
A beautiful new hotel project is being discussed for the West Loop and will be up for approval by the Plan Commission later this year. 


If approved, the new West Loop Hyatt Hotel will be built over at 113 N. May Street and is expected to house trainees of McDonald’s “Hamburger University” training program, which of course will also be moved to the city once the new McDonald’s headquarters is finished right down the street. 


The design of the new West Loop Hyatt Hotel has been slightly modified from the original proposal, which included a 19-story building with 220 rooms. The new revised design from Eckenhoff Saunders Architects now only stands 16 stories high with 200 rooms. 


For additional information on the fabulous new West Loop Hyatt Hotel, swing over to Curbed for the latest news and updates regarding this project and others throughout downtown Chicago. 






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    <pubDate>Tue, 05 Sep 2017 09:18:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/reports-spectacular-cabrini-green-project-put-on-hold.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/reports-spectacular-cabrini-green-project-put-on-hold.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>REPORTS: Spectacular New Cabrini-Green Project Put on Hold</title>
    <description> <![CDATA[ 
The Chicago Housing Authority (CHA) has apparently put plans to build a high-profile mixed-use development on hold, which would have included brand new retail space and at least 436 residential units.


According to a recent report from Crain’s, the impressive Holabird &amp; Root-designed complex, which is detailed in the video below, never really got far beyond the initial proposal phase thanks to the city essentially lacking the resource to develop three Cabrini-Green projects all at once. 


Had the project moved forward, the complex would’ve been situated at a prime corner lot at Halsted and Division, which currently sits vacant just waiting to be developed. 


As noted by Crain’s, no timetable has been set for eventually building out the Halsted and Division site, but given its location and all the recent development that’s been on-going in the area, it’s only a matter of time before something gets done at this increasingly desirable location just blocks from the heart of downtown Chicago. 










Photo: Holabird &amp; Root Architects



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    <pubDate>Sat, 02 Sep 2017 13:52:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/mega-four-tower-development-project-unveiled-for-chicagos-new-eastside.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/mega-four-tower-development-project-unveiled-for-chicagos-new-eastside.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>Mega Four-Tower Development Project Unveiled For Chicago's New Eastside </title>
    <description> <![CDATA[ 
More jaw-dropping development could be on the way for the New Eastside, and no, we’re not just talking about Vista Tower, which is currently under construction with listings already on the MLS. 


According to a series of reports, a number of mixed-use towers are currently in the works for one of the largest urban development projects in the country, and if built, would bring hundreds of additional residences and hotel rooms to the fast-growing neighborhood.


Two of the new towers, which would be a joint-collaboration between Magellan Development and Australia-based Lendlease, would top out at 80 stories and 50 stories respectively and be situated right alongside Lake Shore Drive just south of the river.


A third tower is also being discussed that would stand 40 stories high and be situated just west of the two larger buildings, but that’s not all. Believe it or not, there’s also talk about building another fourth tower just west of the third tower near Aqua Tower, which would stand 60 stories high and include 640 apartment residences and 569 hotel rooms. 


As noted by Crain’s Chicago Business, Magellan already has zoning approval for the buildings and is planning to submit a lakefront protection application sometime in the near future. 


Should the mega project be fully approved and move forward as planned, the first three towers combined would include 1,400 condos and apartment residences, and as mentioned, the fourth would add 640 more rentals to an already saturated apartment market, and of course 569 more hotel rooms to Chicago’s growing inventory of downtown hotel space.  




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    <pubDate>Tue, 11 Jul 2017 22:06:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/plans-for-one-of-last-undeveloped-parcels-in-river-north-revealed.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/plans-for-one-of-last-undeveloped-parcels-in-river-north-revealed.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>Plans For One of Last Undeveloped Parcels in River North Revealed </title>
    <description> <![CDATA[ 
Earlier today, Crain’s Chicago unveiled a series of spectacular new renderings of what could take over what’s essentially one of the last undeveloped parcels in all of River North. 


Officially located at 443 N. Wabash, the owners of the existing Shops at North Bridge shopping mall appear to be floating around an idea that would essentially involve adding a fairly complex network of elevated pedestrian bridges that would connect the existing shopping mall to a new proposed tower that could possibly include additional retail space, residential space, and maybe even a hotel, according to reports. 


Macerich, a real estate investment trust that currently owns the Shops at North Bridge along with 48 other shopping centers, originally bought the Shops at North Bridge property back in 2008 for $515 million, and later acquired the Wabash site, which currently acts as a surface parking lot, back in 2014. 


Photo: Crain's Chicago Business



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    <pubDate>Wed, 28 Jun 2017 20:02:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/500-unit-redevelopment-in-chicagos-medical-district-up-for-approval.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/500-unit-redevelopment-in-chicagos-medical-district-up-for-approval.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>500-Unit Redevelopment in Chicago's Medical District Up For Approval </title>
    <description> <![CDATA[ 
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. Each of the buildings in the multi-phase project would all be connected via covered walkways, and it seems to be a redevelopment that shouldn’t face much opposition in terms of eventual approval. 


For additional information about the new Medical District apartments being planned, swing on over to Curbed Chicago for a full write-up. 



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    <pubDate>Thu, 25 May 2017 12:30:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/new-river-north-proposal-includes-a-firehouse-within-a-high-rise.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/new-river-north-proposal-includes-a-firehouse-within-a-high-rise.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>New River North Proposal Includes a Firehouse Within a High-Rise </title>
    <description> <![CDATA[ 
Filed under “something you don’t see everyday,” a new high-rise project  in River North has recently been revealed that will combine office space and a new firehouse, which on the surface seems like an odd mixture. But upon further review, the bold idea actually make a lot of sense, both for the city and for the developer behind the project. 


According to reports, developer Albert Friedman has already reached a deal with city officials regarding the new development, which would include about 614,000 square feet overall, including the new firehouse that would replace the existing Engine Co. 42 station located at 55 W. Illinois. 


As alluded to above and as first detailed by Crain’s, the project seems to be a win-win for both the city and Friedman, who will essentially build a new, state-of-the-art firehouse in exchange for the opportunity to build a fancy new glass tower that would mostly include office space—something that’s also in high demand in River North along with new construction apartments.  


Should the project move forward, the building’s sleek design will be from Chicago-based architecture firm DLR Group, and the estimated cost for the fire station alone is over $20 million; and that’s not including the $5 million Friedman has agreed to pay the city for the existing fire house.  


Although an MOU has already been signed by both parties, it’s also being reported that the city will still consider competing proposals for the building site for about another 30 days or so. 



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    <pubDate>Sat, 29 Apr 2017 13:53:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/naperville-based-developer-planning-263-unit-apartment-development-for-fulton-market.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/naperville-based-developer-planning-263-unit-apartment-development-for-fulton-market.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>Naperville-Based Developer Planning 263-Unit Apartment Building For Fulton Market</title>
    <description> <![CDATA[ 
As commercial development continues to transform Chicago’s West Loop and Fulton Market neighborhoods, developers are also planning more apartments to serve what will inevitably be a substantial influx of people wanting to live nearby. 


According to a recent report from Crain’s Chicago Business, Naperville-based Marquette Cos. is planning a 263-unit apartment building for a site over on the southwest corner of Lake and Ada streets, which happens to also lie just a block north of Chicago’s famed Restaurant Row. 


Should the project move forward, the building will reportedly be designed by Brininstool &amp; Lynch and stand 10 stories high once finished. As noted in the Crain’s piece, developers love the location of Lake and Ada, which feels slightly less busy and will provide eventual residents with easy access to both Ogden and the expressway, which of course has huge upside for anyone who plans on commuting outside the West Loop. But with plenty of new West Loop projects already in the works, and with developers planning to deliver 8,000 new apartments all across Chicago over the next two years, Marquette’s latest Fulton Market apartment proposal certainly won’t come without competition right nearby. 









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    <pubDate>Mon, 17 Apr 2017 07:36:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/latest-solomon-cordwell-buenz-apartment-tower-prepares-to-move-forward.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/latest-solomon-cordwell-buenz-apartment-tower-prepares-to-move-forward.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>Latest Solomon Cordwell Buenz Apartment Tower Prepares to Move Forward</title>
    <description> <![CDATA[ 
The glassy new tower proposed for 1326 S. Michigan has officially received the “okay” from the city to begin construction, according to a new report out from Curbed Chicago that also outlines only the foundation permits have been issued to this point. 


One of several major developments that will no doubt change the landscape of Chicago’s South Loop in the coming years, 1326 S. Michigan will rise 47 stories once finished and add 500 more apartments to Chicago’s rapidly expanding inventory of downtown rentals. 


Dubbed “SoMi”—at least for now—1326 S. Michigan was designed by Chicago-based Solomon Cordwell Buenz and will also include brand new retail space along Michigan Avenue, as well as parking for 190 vehicles. 


 Local developer Murphy Development has teamed up with LA-based CIM Group to build 1326 S. Michigan, which is also the same California firm behind Marquee at Block 37, another upcoming apartment project at 1000 S. State, and also the new owners of Chicago’s famed Tribune Tower. 






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    <pubDate>Wed, 12 Apr 2017 07:47:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/more-residential-development-possible-on-the-way-in-uptown.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/more-residential-development-possible-on-the-way-in-uptown.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>Hot Uptown Paves The Way For New Luxury Apartments</title>
    <description> <![CDATA[ 
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 Committee before any further movement in the proposal. Given the potential project’s location away from mass transit, the new development could also feature plenty of parking, which will no doubt add a little convenience for future tenants. 


The design of the new 4906-4918 N. Clark Street proposal is from Axios Architects and its reported the development will include a mix of one, two, three, and four bedroom apartments, and also six affordable-rate units in order to satisfy the Chicago’s Affordable Rate Ordinance (ARO). 


If approved, developers of 4906-4918 N. Clark Street are planning to start construction sometime in the spring of next year. 



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    <pubDate>Thu, 30 Mar 2017 09:26:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/limited-opportunities-remain-at-the-row-in-bucktown.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/limited-opportunities-remain-at-the-row-in-bucktown.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>Limited Opportunities Remain at The Row in Bucktown </title>
    <description> <![CDATA[ 
The Bucktown neighborhood is easily one of the hottest locations on the west side right now, and arguably one of the hottest locations in all of Chicago. Homes and condos are selling faster than ever right now not only in the Bucktown area, but also in several of its neighboring communities like Wicker Park and Ukrainian Village. 


Development around Bucktown has also been on the upswing over the past year, and projects like The Row are catching the attention of home buyers from all over town, and for good reason. That particular development, which lies along Winnebago Avenue not far from the heart of the neighborhood, offers a great location, tons of living space, and plenty of high-end interior finishes to top it all off. 


Consisting of just 24 row homes, however, limited opportunities are still available to buy at this dynamic new project. In fact, at the time of this post, just two of the 24 units were still listed on the MLS, with one of those units already contingent.  


So if you’re looking for a spacious townhouse style residence in a location that’s truly hard to top, time is running out to buy over at The Row—one of Bucktown’s best new development opportunities. 






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    <pubDate>Wed, 15 Mar 2017 07:44:00 -0500</pubDate>
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