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ChicagoDowntown / Loop

Will The Sterling become sterling?

The Sterling

Nearly six years ago Crain’s Chicago Business cited The Sterling, 345 N LaSalle St, as the “condo foreclosure capital of Chicago.” Ninety-five foreclosures had been filed in the 389-unit building, according to Crain’s. Three months later, in an article on the prevalence of foreclosures in American Invsco-sponsored condo conversions, Crain’s reported that there had been ...

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Posted by Joe Zekas on December 23, 2013
ChicagoNorth Side

Strategic vision or wishful thinking in Lincoln Park high-rise buy?

2555 North Clark

Crain’s Chicago Real Estate Daily is reporting that the 1980s-era 162-unit high-rise at 2555 N Clark St St in Lincoln Park has been sold for $53 million. That pencils out to about $327,000 a unit for the 19-story building whose unit mix is heavily dominated by one-bedrooms. According to Crain’s the materials marketing the building ...

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Posted by Joe Zekas on December 12, 2013
ChicagoDowntown / Loop

Envisioning Chicago apartment locations

South Loop aerial

Maps are a fabulous tool for communicating a great deal of information about a property’s location. A simple Google search, however, reveals that quite a few people have difficulty reading maps. We’ve been developing a series of aerial and panoramic images that help apartment seekers envision where properties are located in relation to identifiable landmarks ...

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Posted by Joe Zekas on November 19, 2013
ChicagoDowntown / Loop

An aerial view of North Streeterville apartment towers

Streeterville aerial

Late last week we published a helicopter view of apartment towers in the southern part of Streeterville, with links to our expanding set of detailed apartment reviews. We’ve since completed our reviews of buildings north of Chicago Ave in Streeterville, and dipped into our archives for an aerial overview, above, of their locations. The buildings ...

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Posted by Joe Zekas on October 7, 2013
ChicagoDowntown / Loop

New townhomes, apartments planned for Near North Side

aerial view

Crain’s Chicago Real Estate Daily reports that CMK Companies has filed an application to rezone a site at 1009 N Cleveland Ave for 47 townhomes and 10 apartments. The site is a block east and two blocks south of a new Target that’s slated to open soon at Division and Larrabee. The site has been ...

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

Will Park Kingsbury return from the deadpool as apartments?

501 W Kingsbury

In the boom years of the mid-2000s the River North site formerly occupied by Ronsley was one of the most sought-after development opportunities on the north side. The site, which includes a 5-story loft building (pictured above) at the southwest corner of Kingsbury and Huron and a parcel of vacant land at the northeast corner ...

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Posted by Joe Zekas on August 29, 2013
ChicagoDowntown / Loop

Major rehab slated for 2101 S Michigan apartments

2101 S Michigan

The AFL-CIO Housing Investment Trust has provided $32 million in financing toward a $42 million renovation of the 250-unit, 26-story apartment tower at 2101 S Michigan Ave. The renovation will include a new lobby, community room and on-site laundry facility as well as energy-efficient appliances and new heating and cooling in the individual units. The ...

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Posted by Joe Zekas on August 27, 2013
ChicagoDowntown / Loop

Chicago views, from the west

Aerial view of skyline

Morning isn’t the best time to capture this view from above the UIC campus, but it’s still dramatic. River North high-rises along the Chicago River offer panoramic views of the skyline. The shots are taken, in order, from the new Hubbard Place apartments, Kingsbury Plaza, and The Montgomery condos. The newly-opened K2 Apartments in the ...

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Posted by Joe Zekas on August 21, 2013
ChicagoDowntown / Loop

Views of Chicago’s near north beaches

Streeterville, Olive Park

We lead with a beach that typically garners little attention, despite the density just to its west: the beach at Olive Park. The eastern views from some Lake Shore Drive high-rises might not be very inspiring in the dead of night, but they can be endlessly interesting on a summer day. The 39-unit Benjamin Marshall-designed ...

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Posted by Joe Zekas on August 19, 2013
ChicagoDowntown / Loop

The views from Millennium Park Plaza

Millennium Park Plaza view

If you visit YoChicago with any frequency you know I’m addicted to visiting rooftops, high and low. Yesterday I wandered the block-long roof at Millennium Park Plaza, 151 N Michigan Ave, overlooking Millennium Park to the south and the Magnificent Mile to the north. The views from the roof are a good proxy for what ...

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

Does Erie on the Park have River North’s best outdoor spaces?

Erie on the Park Chicago

We noted a few days ago that the Tribune’s Blair Kamin is back in town. Kamin had quite a bit to say back in October of 2002 on the topic of Lucien Lagrange’s Erie on the Park, 510 W Erie. A sampling: There are so many monuments to mediocrity rising into the sky west of ...

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

Checking out the roof at 914 West Hubbard

914 W Hubbard

Crain’s Chicago Real Estate Daily recently reported that a 24-unit apartment building at 914 W Hubbard in West Town had been refinanced with a $6.7 million loan. The previous loan had been in foreclosure. According to Chicago’s Building Data Warehouse the property recently received a permit to convert the existing 22-unit building to 24 units, ...

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Posted by Joe Zekas on July 1, 2013
ChicagoDowntown / Loop

Hundreds of new apartments for River West?

View from above 1001 W Chicago

Every week, it seems, brings several announcements for new downtown Chicago apartment developments. Chicago Real Estate Daily reported earlier this week that a Seattle-based developer is buying a 1.8 acre site at 1001 W Chicago Ave with hopes of building 300 or more new apartments. The River West site is adjacent to a CVS pharmacy ...

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Posted by Joe Zekas on June 28, 2013
ChicagoDowntown / Loop

Arkadia apartment tower underway in the West Loop

Arkadia, 765 W Adams

A contributor to the SkyscraperPage forum noted yesterday that site prep for construction appears to have begun at 765 W Adams, the site of a proposed new 33-story, 350-unit apartment tower in the Greektown part of the West Loop. FitzGerald Associates is the architect for the project, and the firm’s website has a new rendering ...

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Posted by Joe Zekas on June 27, 2013
ChicagoDowntown / Loop

Coast reports being 50% leased

Coast at Lakeshore East

A news release received yesterday reported that the 515-unit Coast apartment tower, which began leasing in mid-February and opened in March, is 50% leased. That’s “a record setting pace,” said an executive of NNP Residential, the leasing and management agent for the 51-story building. Coast is the eighth residential high-rise in the Lakeshore East development ...

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Posted by Joe Zekas on June 19, 2013
ChicagoDowntown / Loop

Optima plans to deliver second Streeterville apartment tower in 2017

220 E Illinois Chicago

Crain’s Chicago Real Estate Daily reported yesterday that Optima has acquired a site at 220 E Illinois immediately adjacent to its Optima Center, which is nearing completion. The Centrum-owned site, which has been on the market for a while, was zoned for up to 600 apartments, and we’d tallied that number in our at-a-glance list ...

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Posted by Joe Zekas on May 9, 2013
ChicagoDowntown / Loop

Design work underway on North Pier lofts in Streeterville

North Pier / River East Center

A month ago we noted that the former North Pier Terminal in Streeterville had been acquired by an investor group. Yesterday’s email brought word that FitzGerald Associates Architects has begun work on plans for the adaptive reuse of the six-story, 547,000 square foot building. Current tenants in the building include Fox & Obel, Quay restaurant, ...

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Posted by Joe Zekas on April 19, 2013
ChicagoNorth Side

Will DePaul wreck a great development opportunity?

Aerial view of A. Finkl & Sons site

Yesterday’s Chicago Tribune served up this heart-stopping news: DePaul University appears to be weighing a site west of Lincoln Park for a Blue Demons men’s basketball arena, signaling that a site near McCormick Place is not necessarily its slam-dunk pick. Bruce Liimatainen, chairman and chief executive of A. Finkl & Sons Co., on Tuesday said ...

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

Construction underway on Catalyst apartments in West Loop

Catalyst, 630 W Washington

Marquette Companies has begun construction on Catalyst, 630 W Washington in the West Loop. When complete the 22-story building will encompass 223 apartments, 175 garage parking spaces and 15,168 square feet of ground floor retail space. According to Marquette’s website, 89% of the retail space is “pre-leased to a credit tenant.” When we first wrote ...

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Posted by Joe Zekas on April 9, 2013
ChicagoDowntown / Loop

The Loop’s blue building on LaSalle Street

10 S LaSalle

All that remains of the circa-1910 Otis Building at 10 S LaSalle is four stories of its original fa├žade, and it’s all you may have ever noticed of the 37-story tower that replaced it. I’d passed the building many times without ever looking up to see the 1986-vintage skyscraper behind the classic terra cotta and ...

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Posted by Joe Zekas on April 4, 2013