Back in January, a reader expressed concern that timber ceilings in The Lofts at River East Art Center at 445 E Illinois St in Streeterville would be left "'as is'–in other words, noisy."

Sales agent Susan Devine says the units are actually quite quiet. Devine says there is an eight-inch floor assembly that includes three inches of lightweight concrete and a five-inch foam underlayment that help to muffle sounds from above, adding that there's a double-thick drywall between units that also helps to keep it quiet.

Prices at The Lofts at River East start in the $430s for a 953 square-foot one-bedroom, and they range up to more than a $1 million.

- Rate and review this development on NewHomeNotebook.com.

There's been some groaning on Yo over the years over the large, ugly edifices that parking structures create at street level. Why not just bury the parking structure? What's so difficult about that?

It can be expensive, for one, but there are benefits to burying parking. In Streeterville, for example, where outdoor green space comes at a premium, MCL Companies is putting in a new public park in the lot adjacent to ParkView Condominiums. Sales agent Susan Devine says the developer is in the process of excavating the site and should have the park finished by the end of summer.

The skeptic in me says, "Great, but who's going to pay for park maintenance? The condo association won't want to pay for a public park." But Devine assures me that the park won't be turned over to the condo association or the Chicago Park District; instead, MCL Companies plans to maintain it in the future. It's not uncommon for developers to offer landscaped green space, but in many cases the green space is either private or it's turned over to the park district.

Could this be an instance of genuine developer altruism?

Below are a couple more park renderings from Solomon Cordwell Buenz & Associates.

- Rate and review this development on NewHomeNotebook.com.

“We’re using the time well to get through the planning process so when the market does turn we’re ready to break some dirt… The market will turn in 2009."

- Sean O’Sullivan, chief operations officer of The Chieftain Group. Crain's reports today that Chieftain will build two 25-story towers comprising 200 hotel rooms, 200 apartments and 250 condos on a two-acre parcel at the corner of Harrison and Wells streets. (So much for that view of the river and the West Loop, Vetro buyers.)

Chieftain is also building the Lexington Park Condominiums, a South Loop project that Mark has profiled here, here and here.

O'Sullivan sees the light at the end of the tunnel. Is it a ray of sunshine, or is it just a train?

Every morning, we comb through scores of local and national newspapers and magazines, amateur and professional blogs and other interesting Web sites in search of stories that are relevant to Chicago home buyers. We add those stories to own news feed, thereby creating a one-stop news source for anyone interested in Chicago's neighborhoods and new-home market.

Click here to read YoChicago's news feed.

In response to the question I posed yesterday regarding the importance of LEED certification, reader Matt, who describes himself as a LEED accredited professional, offered a reasoned response. Matt acknowledges some of the flaws in the certification process but argues that there's still a place for USGBC because it ensures a level of quality control and looks at information that the average customer probably isn't willing to bother with.

The reason for LEED Certification, as with any certification, is that the average consumer is not aware and doesn't have the time to research every green component of a building. Therefore it's helpful that there is an outside agency requiring developers to add theses features. I would want an outside authority (i.e. the building department) to inspect an end product before I bought it to ensure a certain quality to the product. I would argue that LEED might not have their system right but that it greatly encourages strides in the right direction.

As, pointed out I do not think that LEED weighs all of the points accurately to portray the environmental impact of each of the points associated with the ranking system. However, if a building is LEED certified the consumer can be assured that certain hoops were jumped through. The USGBC should do a better job at weighing the environmental impacts on the points. I think more recent ranking systems such as the New Homes ranking system does a better job of this that others.

Read Matt's full comment here.

We've had an eye fixed on MCL Companies' 47-story tower at 505 N McClurg Ct in Streeterville for quite some time, but most of the discussion about ParkView Condominiums on Yo has had to do with its glassy figure and copper striping. Today I managed to reach Michael Hampton, the sales director for MCL Companies, who spoke with me about sales and floor plans.

Hampton says the building is about 80 percent sold, and there are still one- to three-bedroom units available in all floor plans. He says the most popular floor plans have been those located on the south and east sides that have lake and/or river views.

Prices don't appear to have changed recently, as one-bedrooms are priced from the $380s, two-bedrooms start in the $520s, and three-bedrooms start in the $840s. The two-acre park that will be located on top of the parking garage is scheduled for completion at the end of August. Deeded parking is an additional $60,000 at ParkView.

Hampton says that one of the most impressive units that's currently available is a combination of a one-bedroom / one-bath and a two-bedroom / two-bath that measures about 2,300 square feet. The combination unit is priced at $1.33 million, and Hampton says it has two balconies and features all Viking appliances. I don't have a floor plan for that combination unit, but below are the floor plans for floor plans D and E, which are the ones that Hampton says are used in the combo:

- Rate and review this project at NewHomeNotebook.com.

More than three-quarters of the homes at Printers Corner have sold, leaving only 20 one- and two-bedroom condos scattered throughout the 17-floor building at 170 W Polk St in the Printers Row district.

Five one-bedrooms are selling from the low $300s, and 15 two-bedrooms start in the low $400s. All the homes are ready for immediate occupancy.

All of the homes have 10-foot ceilings, floor-to-ceiling windows, hardwood floors in the living and dining areas, carpeting in bedrooms, and crown molding. Their island kitchens include 42-inch cabinets with under-cabinet lighting, granite countertops, and GE stainless-steel appliances, while the bathrooms have ceramic tile floors and walls, whirlpool tubs and Grohe fixtures.

Parking, which had been free for buyers this spring, is back to $36,000 per space.

- Rate and review this project at NewHomeNotebook.com.

Use the clues in this photo to identify the neighborhood pictured.  The first to identify it will receive a Yo yo-yo or a ladies' Yo t-shirt.

Every morning, we comb through scores of local and national newspapers and magazines, amateur and professional blogs and other interesting Web sites in search of stories that are relevant to Chicago home buyers. We add those stories to own news feed, thereby creating a one-stop news source for anyone interested in Chicago's neighborhoods and new-home market.

Click here to read YoChicago's news feed.

It's not unusual for a developer to purchase a unit and take up residence in one of his developments. Buyers often consider that a reassuring sign of the developer's commitment to and pride in the project. And it often is.

Just as often, however, it's a tribute to the Internal Revenue Code's exclusion from taxation of up to $250,000 in gain on the sale of a principal residence (up to $500K for a married couple filing jointly) if certain tests are met. Even a novice accountant can allocate the costs of a project to maximize the tax savings. For a high-earning married developer paying taxes at a 35% marginal rate, that can translate to $175,000 in tax savings – enough to make putting up with a bit of guff from your neighbors worthwhile.

Given this kind of an incentive, it's also not unusual for a developer to be a serial live-in.