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        <title>Chicago Real Estate News &amp; Neighborhood Notes</title>
        <link>https://www.goldcoastrealty-chicago.com/blog/tags/loop-real-estate-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/residential-developer-snatches-up-330-s-wells-for-101-million-apartments-on-the-way.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/residential-developer-snatches-up-330-s-wells-for-101-million-apartments-on-the-way.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>Residential Developer Snatches Up 330 S. Wells For $10.1 Million; Apartments On The Way?</title>
    <description> <![CDATA[ 
Recent news reported by Crain’s continues to confirm The Loop’s on-going transformation into a red hot location for anybody looking for a downtown apartment—and this time, it’s looking like a vintage Loop commercial building could be slated for a residential conversion sooner rather than later.  


According to the report, an affiliate of Chicago-based Marc Realty Capital purchased 330 S. Wells Street for $10.1 million earlier this month, although specific plans as to what the developer plans to do with the property have not yet been revealed. 


Even still, the firm that acquired the property specifically specializes in developing apartments, and given demand for rentals in The Loop right now, speculation for a possible residential conversion continues.  


To convert the offices into apartments, the building would have to undergo a zoning change, so it is entirely possible it could remain commercial. Only time will tell what becomes of 330 S. Wells, but with so much activity going on around The Loop specifically right now, options are plentiful for the 118,000 square foot building located in the heart of Chicago’s business and financial district. 



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    <pubDate>Sun, 28 Aug 2016 12:40:00 -0500</pubDate>
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    <guid>https://www.goldcoastrealty-chicago.com/blog/old-post-office-finally-gets-a-makeover-plan-work-to-begin-immediately.html</guid>
    <link>https://www.goldcoastrealty-chicago.com/blog/old-post-office-finally-gets-a-makeover-plan-work-to-begin-immediately.html</link>
        <author>leo@goldcoastrealtychicago.com (Leo Clark.)</author>
        <title>$500M Makeover Plan For Old Post Office - Work to Begin Immediately </title>
    <description> <![CDATA[ 
Although it’s seemed like a story that will never end, there appears to be a final plan in place for the Old Chicago Post Office that has sat vacant for years—finally. News broke yesterday about the city reaching an agreement with the massive building’s new owner, and the best part might be that work can actually begin immediately. The first order of business is to begin work that will satisfy more than 20 code violations, which will include replacing the building’s roof, restoring the historic lobby, repairing the building’s beautiful facade, add new high-speed elevators, and completely re-work the electrical, plumbing, heating, and ventilation systems. The entire renovation will be done in three phases and early estimates are showing the entire project will cost over $500 million and likely take until 2018 to complete. Once finished, the 1.2 million square foot office will be a state-of-the-art office building capable of housing 12,000 workers. Developers are hoping tenants will be attracted to its central location in the city, as well as everything else the new building will offer, which includes high 18 foot ceilings, innovative work spaces with wide open floor plans, and up to 250,000 square feet per floor—something not many other commercial buildings in downtown Chicago can match. Included will also be a fabulous new rooftop deck/park that spans 3 acres, as well as a landscaped riverwalk that will be open to the public.After what’s been an eye-sore in downtown Chicago for what seems like forever, it’s nice to see this long overdue project move forward.



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    <pubDate>Thu, 21 Jul 2016 09:45:00 -0500</pubDate>
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