Real estate news & trends

News from around the Web - 5/19

Apartment construction slows sharply

Mortgage applications fall 7.3 percent in a week

US home builders feeling fairly upbeat

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ChicagoDowntown / Loop

Chicago and LaSalle apartment tower gains Plan Commission approval

Thumbnail image for Chicago and LaSalle apartment tower gains Plan Commission approval

The Chicago Plan Commission yesterday approved construction of a new 33-story, 290-unit apartment tower with ground-floor retail space at the northeast corner of Chicago and LaSalle. Smithfield Properties is the developer. The next step for the project is approval by the full City Council. ADDED: Adam Berkelhamer of Berkelhamer Architects reached out with the following ...

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Posted by Joe Zekas on May 17, 2013
ChicagoDowntown / Loop

An up-to-date River North apartment list

View of River North Chicago

If you’re looking to rent an apartment in River North, you can see all of your managed apartment building options on YoChicago’s availability list, below. Apart from the new buildings, there are currently only twelve large apartment complexes in River North, and we’ve listed all of them in this Google spreadsheet, and checked what’s available ...

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Posted by Joe Zekas on May 17, 2013
ChicagoDowntown / Loop

A view of three new apartment towers

New downtown apartment projects

Three of the dozens of new apartment projects in downtown Chicago are visible in the above view. The building with the recessed balconies and construction elevator to the left of center is AMLI River North. The 50-story, 409-unit tower is currently leasing apartments for “summer 2013″ occupancy. Hubbard Place is front and center in the ...

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Posted by Joe Zekas on May 17, 2013
ChicagoDowntown / Loop

The spectacular skyline views from Kingsbury Plaza

George Azzo, Kingsbury Plaza

Late yesterday afternoon I visited the roof of Kingsbury Plaza, 520 N Kingsbury St in River North. The views in all directions from a height of 455 feet are attention-grabbing, and likely to be compelling from lower floors also, given the unbroken vistas afforded by the building’s riverfront site adjacent to the East Bank Club. ...

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Posted by Joe Zekas on May 16, 2013
ChicagoDowntown / Loop

An at-a-glance list of what’s for rent in the South Loop

Aerial view of South Loop

Three-bedroom apartments, if you’ve been scanning this feature from week to week, have been unavailable before now. Several 3-bedrooms just hit the market for July occupancy. If you’re looking to rent a 3-bedroom, it’s probably a good idea to act quickly. If you’re looking to rent in the South Loop, you can see all of ...

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Posted by Joe Zekas on May 16, 2013
ChicagoDowntown / Loop

A new construction show in Streeterville

435 N Park Dr Chicago

Most Chicago high-rises are built on tight sites that impose stringent demands on construction staging. Materials are typically delivered on a just-in-time basis that affords spectators few opportunities to gape at the wide variety of substructures and assemblies that come together in a sleek, simple-appearing finished building. When it’s complete the project that’s underway at ...

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Posted by Joe Zekas on May 15, 2013
ChicagoDowntown / Loop

Does Chicago have a new Fridge?

Optima Center

William “The Refrigerator” Perry, a/k/a The Fridge, has an irreplaceable spot in the hearts of Bear fans of a certain age. Some of the wags at the SkyscraperPage forum have noted a resemblance between the new Optima Center and a giant refrigerator and dubbed the building “Da Fridge.” Another commenter sees an “Android Style Robot ...

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Posted by Joe Zekas on May 15, 2013
ChicagoDowntown / Loop

850 Lake Shore Drive slates occupancy for late this year

850 LSD

Late last week Crain’s Chicago Real Estate Daily reported that the developer of the former Lakeshore Athletic Club at 850 N Lake Shore Dr had secured an $80 million construction loan to complete the conversion of the building to 200 rental apartments. The Crain’s report contained a major surprise: “The construction is probably about two-thirds ...

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Posted by Joe Zekas on May 14, 2013
ChicagoDowntown / Loop

The Smith + Gill models at K2 luxury apartments

Smith + Gill, K2

Three furnished models from Adrian Smith + Gordon Gill were part of the recent 7-model Designer Showcase at K2 Apartments. Several of the models were pop-ups that were dismantled immediately after the event, but the Smith + Gill models are, to the good fortune of design lovers, permanent. Each of the Smith + Gill models ...

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Posted by sponsored post on May 14, 2013
ChicagoDowntown / Loop

CA3 sells out pre-construction in West Loop

Adams & Aberdeen, CA3

You can time-travel back to the frothy days of the mid-00s if you want to find condo projects selling out prior to their beginning to rise out of the ground. Or you can head for Adams and Aberdeen in the West Loop, where demolition of an existing structure has just wrapped up on the site ...

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Posted by Joe Zekas on May 14, 2013
ChicagoNorth Side

The Pointe townhomes, a bit of London in Lincoln Park

The Pointe

Townhome developments are a major presence in Lincoln Park, more so than in any other Chicago neighborhood. The popularity of the neighborhood, together with its relatively low-density zoning, spurred strong demand for more alternatives to pricey single-family homes. The townhome boom that began in the 60s came to a virtual halt in the mid-90s as ...

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Posted by sponsored post on May 14, 2013
ChicagoDowntown / Loop

Dialing for dollars at Mondial in River West

Mondial roof deck

Exactly five years ago today we checked up on the construction status of Mondial, a new condominium project then underway at 900 W Huron in River West, and found it approximately half complete. Mondial ran head-on into a tough condo market. Sales stalled and the original developer pulled the units from the market, offered them ...

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Posted by Joe Zekas on May 13, 2013
ChicagoDowntown / Loop

Two comfortable, eclectic pop-up models at K2 Apartments

Lauren Schreyer K2

The recent K2 Apartments Designer Showcase featured seven models from Chicago designers Morgante Wilson Architects, Adrian Smith + Gordon Gill, Design for a Cure and Brook Furniture Rental. For three evenings, guests were able to tour all seven apartment models, which ranged from a bachelor studio to a two-bedroom urban retreat. Four of the models ...

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Posted by sponsored post on May 13, 2013
ChicagoNorth Side

A home “like no other” under contract on Ashland

Ashland Urban

Redfin’s email recently surfaced a “new listing” for one of the Ashland Urban condos at 2607 N Ashland Ave whose pretensions we noted last October. The 3-bedroom, 4-bath, 2,800 square foot tri-level “penthouse” unit was listed at $890,000 on May 8, and shown as being under contract shortly after that date. The home faced tough ...

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Posted by Joe Zekas on May 13, 2013
ChicagoSouth Side

Brother El visits Muddy Waters home in North Kenwood

Brother El

The former home of “legendary Chicago blues musician Muddy Waters” was recently listed by Landmarks Illinois as one of the 10 most endangered historic places in Illinois. Brother El of the Makers of Sense makes several visits to the home, at 4339 S Lake Park in the North Kenwood / Oakland neighborhood, in the above ...

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Posted by Joe Zekas on May 13, 2013
ChicagoDowntown / Loop

River North apartment rents on an at-a-glance list

View from Trump Tower

If you’re looking to rent an apartment in River North, you can see all of your managed apartment building options on YoChicago’s availability list, below. Apart from the new buildings, there are currently only twelve large apartment complexes in River North, and we’ve listed all of them in this Google spreadsheet, and checked what’s available ...

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Posted by Joe Zekas on May 10, 2013
ChicagoNorth Side

A nicely-updated 1-bedroom in an East Lakeview high-rise

3440 LSD #17E

A wonderful mix of old and newer high-rises fronts Chicago’s Belmont Harbor in the Lakeview East / East Lakeview neighborhood. The high-rise boom began in the 1920s and ended in the early 1970s when 3440 North Lake Shore Drive was completed. The popularity of the location ensured that there was little buildable land available. Step ...

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Posted by sponsored post on May 10, 2013
ChicagoDowntown / Loop

Terra cotta façade restoration nearly complete at 1225 Old Town

1225 Old Town

The recently-reported sale of the 250-unit 1225 Old Town apartment high-rise can easily pass unnoticed, but the restoration of the ornate terra cotta façade on the site is sure to attract attention. It was nearly complete when we stopped by on Monday. Signage on the site indicates that upscale grocer Plum Market is on schedule ...

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Posted by Joe Zekas on May 10, 2013
ChicagoDowntown / Loop

Bargain-priced apartments in the heart of the Gold Coast

1330 N Dearborn

The boutique 70s high-rise at 1330 North Dearborn doesn’t offer the lavish amenities packages you’ll find in newer buildings, but it does boast a stellar location, on-site parking, a fitness room, bike storage, a roof deck with wraparound views and on-site maintenance and management. 1330 has spacious studio and one-bedroom apartments with ample closet space. ...

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Posted by sponsored post on May 10, 2013
ChicagoDowntown / Loop

South Loop apartments, rents – an at-a-glance list

Chicago's Prairie District

If you’re looking to rent in the South Loop, you can see all of your managed apartment building options on YoChicago’s South Loop availability list, below. Where only a single price is listed, it’s an indication that only one unit of that type was available at the time we checked. There are only a dozen ...

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Posted by Joe Zekas on May 9, 2013