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Chicago Real Estate Daily

ChicagoDowntown / Loop

Was the Q3 downtown apartment market really that slow?

Streeterville

Chicago Real Estate Daily reported yesterday on the state of the downtown apartment market: After flying high in the first half of the year, the downtown apartment market has lost some altitude in the second. Leasing activity fell more than expected in the third quarter, dragging down rents and occupancies at downtown buildings, according to ...

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Posted by Joe Zekas on November 18, 2014
News & trendsNeighborhoods

Staying up to date on Chicago real estate

Aerial downtown

We began publishing reviews of Chicago’s apartment buildings just about a year ago. The blistering pace of development since that time has resulted in the need to update a number of our reviews, and our lists and associated maps. We’ll be devoting much of this week to updating our reviews and our lists and maps, ...

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Posted by Joe Zekas on October 27, 2014

Have you visited Crain’s and Curbed today?

Dennis Rodkin

If you want to stay abreast of what’s happening in Chicago real estate you’ll have to venture beyond YoChicago and our Twitter, Facebook, YouTube and Flickr accounts. We keep a steady focus on homes and apartments for sale and for rent, but can’t report on every development in a city the size of Chicago. You’ll ...

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Posted by Joe Zekas on August 12, 2014
News & trendsMarket conditions

What’s really the fastest-selling neighborhood in Chicago?

742 N Western

Chicago Real Estate Daily has a report that spotlights the five community areas that had the shortest average market times for single-family homes and for condominiums during the first four months of this year. North Park had the shortest average market time, 46 days, for single-families and that honor went to West Town, at 65 ...

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Posted by Joe Zekas on June 18, 2014
ChicagoDowntown / Loop

MLS-listed rental market strengthening in downtown Chicago

Aerial downtown

The number of MLS-listed homes and condos listed for rent in the 14 downtown ZIP Codes that we track stood at 919 yesterday, down from 1,008 just over a month ago. That’s the lowest level of available rentals we’ve seen since last August. The number of available units in the Near North Side ZIP Codes ...

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Posted by Joe Zekas on May 28, 2014
ChicagoNorth Side

Lincoln Park homes – minis still outnumber megas

424 St James

Chicago Real Estate Daily’s Dennis Rodkin recently published a look at 10 multi-lot “mega-mansions” currently underway in Lincoln Park. In the course of our rambles yesterday we passed two huge Lincoln Park homes that didn’t make it to Rodkin’s list. The home pictured above is nearing completion and spans more than four lots at the ...

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Posted by Joe Zekas on May 22, 2014
ChicagoDowntown / Loop

Is the Gold Coast’s grandest yard at risk?

Gold Coast Lurie

The 19,000 square foot Gold Coast home at 1547 N Dearborn Pkwy has one of the most beautifully landscaped side yards on Chicago’s north side. It’s a true urban oasis that has to be a constant source of delight to its owner. You can see some of the yard in the above video and more ...

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Posted by Joe Zekas on April 11, 2014
ChicagoSouth Side

Are more mobile homes headed for Hegewisch?

Harbor Point Estates

It’s been a little over three years since we last wrote about Harbour Point Estates, Chicago’s only trailer park a/k/a manufactured home community. The Hegewisch property was in foreclosure at the time. Chicago Real Estate Daily is reporting that affiliates of Marc Realty acquired the property last year and want to increase the number of ...

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Posted by Joe Zekas on April 10, 2014

Chicago real estate video shootout – YoChicago vs Crain’s and Chicago Magazine

YouTube

YoChicago’s YouTube channel has taken you to more Chicago places and inside more Chicago spaces and introduced you to more of the faces that shape Chicago real estate than any other source. We think we’re the clear leader in Chicago real estate video, and YouTube’s metrics strongly support that claim. Chicago Magazine and Crain’s Chicago ...

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Posted by Joe Zekas on March 28, 2014
ChicagoDowntown / Loop

The list that’s depressing downtown Chicago apartment rents

K2

Crain’s Chicago Real Estate Daily recently reported, based on data from Appraisal Research Counselors, that rents at Class A downtown apartment buildings fell 2.7% last year, after three years of sharp rent increases. Crain’s reports that developers completed “about 2,700 units in 2013, the most in one year since at least 1999, according to Appraisal ...

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Posted by Joe Zekas on February 17, 2014
ChicagoDowntown / Loop

Bowling alley apartments score $32.5M in West Loop

13Thirteen Randolph

The bowling-alley configuration of apartments at the recently renovated 13Thirteen didn’t deter an institutional investor from ponying up $32.5 million for the 74-unit West Loop building. Crain’s Chicago Real Estate Daily reported the sale yesterday. Will renters continue to spare the dollars for this location, or will they go on strike and split for the ...

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Posted by Joe Zekas on February 13, 2014
ChicagoDowntown / Loop

Will Burnham Pointe apartments sell for $400 a square foot?

Burnham Pointe

Crain’s Chicago Real Estate Daily reported yesterday that Burnham Pointe, a 28-story, 298-unit South Loop apartment tower is for sale and is expected to fetch about $119 million. The building also has ground-level retail and restaurant space. The $119M price translates to nearly $400,000 a unit and nearly $400 a square foot for apartments that ...

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Posted by Joe Zekas on February 12, 2014
News & trendsMarket conditions

High-rise rents, occupancy, absorption rates all fall

Above Aqua

After years of seeing rents rise, renters may be singing “happy days are here again,” according to Appraisal Research Counselors data reported by Chicago Real Estate Daily. The numbers: third quarter net rents in Class A buildings fell 1.9% from a year ago. Occupancy rates dipped to 92.6%, the lowest level since 2009. The downtown ...

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Posted by Joe Zekas on November 18, 2013
Downtown / Loop

The Gold Coast gallops south to Superior

Cathedral District

Everyone loves to mock real estate agents who conjure new neighborhood names from their imagination: West Bucktown, West Roscoe Village and South Andersonville come readily to mind. Sticklers for neighborhood boundaries (and I’m generally one of them) also rail against real estate agents who stretch neighborhood boundaries to include properties that are beyond them. Almost ...

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Posted by Joe Zekas on November 6, 2013
ChicagoDowntown / Loop

New Gold Coast condo tower moving forward?

State & Elm

Crain’s Chicago Real Estate Daily is reporting that bid documents have been posted for a proposed 26-story condo tower at the northeast corner of State and Elm in the Gold Coast. If the project is able to get past zoning hurdles it will be the first new condo high-rise in downtown Chicago in nearly half ...

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Posted by Joe Zekas on October 18, 2013
ChicagoDowntown / Loop

Mondial apartments sell at a large profit

Mondial

Mondial, in River West, is an apartment project that we’ve followed in dozens of posts through many ups and downs over more than seven years. Our keen interest in the project traced to the fact that I’ve known the project’s architect / developer, Jack Berger, since we were developing adjacent projects on the 1800 block ...

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Posted by Joe Zekas on October 11, 2013
ChicagoDowntown / Loop

Were these juice loans or just routine?

The Lex

Crain’s Chicago Real Estate Daily describes describes as “eye-popping” the 50% interest rate on $3.2 million loaned to American Invsco in connection with a failed bid to acquire a large apartment portfolio. My eyes didn’t pop thirty years ago when I examined notes carrying a 50% interest rate issued by American Invsco in connection with ...

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Posted by Joe Zekas on September 19, 2013
ChicagoFar North

Media math not very sharp on Flats Chicago

1020 W Lawrence

Nearly a year ago the Sun-Times’ David Roeder reported that the seven buildings being branded as Flats Chicago totaled 1,200 units. Two days ago Crain’s Chicago Real Estate Daily reported that Flats Chicago was adding the troubled Lawrence House, 1020 W Lawrence in Uptown, to its portfolio. Flats Chicago’s Jay Michael was quoted as saying ...

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Posted by Joe Zekas on August 8, 2013
ChicagoDowntown / Loop

New apartment developments headed for the West Loop

Madison & Aberdeen, Chicago

In keeping track of the new apartment projects that are proposed and underway in downtown Chicago we’ve tended to focus on the larger developments. Late last week Crain’s Chicago Real Estate Daily reported on a “Reinsdorf-backed developer” that has five developments totaling 220 units proposed or underway in the West Loop. Michigan Avenue Real Estate ...

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Posted by Joe Zekas on April 8, 2013
ChicagoDowntown / Loop

New apartment tower proposed for State and Chestnut

Aerial view of State & Chestnut

The drumbeat of new apartment announcements in downtown Chicago continues, and we’ve updated our list and tally of them accordingly. Crain’s Chicago Real Estate Daily reported yesterday that Newcastle Ltd is purchasing the southeast corner of State and Chestnut from Loyola University Chicago and plans to build a 35-story building with 367 apartments and ground-level ...

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Posted by Joe Zekas on December 12, 2012