Real estate news & trends
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Condos
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
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
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
Ralph Johnson‘s 235 Van Buren has inspired verbal pyrotechnics from commentators and quickly become an award-winning architectural icon. The new condo high-rise is also an outstanding venue from which to view the past, present and future of Chicago architecture. The combination of great architecture as both a “machine for living” and a platform for viewing ...
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Posted by Joe Zekas on May 8, 2013
Printers Row Lofts is an 8-story, 138-unit loft building at 732 S Financial Pl in the South Loop. The building, which is on the National Register of Historic Places, was converted to loft apartments in 1996 by Tony Rezko‘s Rezmar Group and converted to condos in 2003. We wrote about the conversion in the February ...
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Posted by Joe Zekas on May 1, 2013
Jeff Herbert of Urban Living has just published a report on Lincoln Park sales during the first quarter of 2013. The highlights: Condominium and townhome sales increased by 33% in Q1 2013 to $83 million compared to $63 million in Q1 2012. Average sales price increased 4.7% in Q1 2013 to $462,328 compared to $441,764 ...
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Posted by Joe Zekas on April 29, 2013
Five years ago today we noted a $20,000 asking-price reduction on a 1-bedroom condo at 1428 W Walton St in Noble Square. Unit 1S, which was the last in the building to sell, was listed at $259,000 after the price reduction. The first-floor unit on the south side of the converted eight-unit building had 10-foot ...
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Posted by Joe Zekas on April 24, 2013
In the above video, shot in 2009, Coldwell Banker’s Clarence Thompson drove one of Yo’s reporters around the North Kenwood / Oakland neighborhood chatting about some of its history and about real estate values. Values have, not surprisingly, plummeted in the area since that time. To cite just one example, a 3-bedroom, 2-bath condo on ...
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Posted by Joe Zekas on April 18, 2013
Exactly five years ago today we reported that only one unit remained available for sale at The Edison Grand, a 15-unit condo at 711 W Grand Ave in the Fulton River District. It was one of the rare occasions when the information proved to be accurate. At the time, the unsold 2-bedroom, 2-bath unit was ...
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Posted by Joe Zekas on April 18, 2013
Crain’s recently reported the bulk sale, for $4.5 million, of the 5-unit Richelieu Flats, 318 S Michigan Ave. The units had been offered for sale individually at an aggregate price of over $8 million. Baird & Warner’s Millie Rosenbloom still has the units, two of which are under contract, listed for sale. You can tour ...
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Posted by Joe Zekas on April 12, 2013
“It’s truly one of the most amazing entertaining spaces you could ever have,” said Melanie Giglio as she showed me around a full-floor 4,100 square foot loft at 415 W Superior St in River North a year ago. At the time the home was priced at $1,749,000. It just came back on the market at ...
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Posted by Joe Zekas on April 11, 2013
Cheryl and Frank have lived in their Lincoln Park home for 30 years. They were looking for a change from a neighborhood that had changed significantly over the years, and looking forward to a single-floor, no-maintenance lifestyle. Frank found the 1,900 square foot, 3-bedroom, 3-bath new condos at CA23 in the West Loop, and it ...
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Posted by sponsored post on April 11, 2013
A recent Atlantic Cities post sketched the real estate issues that accompany school closings: One of the thorniest issues (in what is a veritable forest of mess) is what to do with those school buildings once they’re empty. Often, the facilities are in poor shape, with promised renovations put off quasi-indefinitely. Many are located in ...
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Posted by Joe Zekas on April 10, 2013
Julie counts herself a “frequent mover” though her move to the West Loop was only her fourth in 20 years. After living in River North, the Gold Coast and Lincoln Park, Julie was looking for a new experience and a new neighborhood to explore. She loves the West Loop because of the variety of new ...
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Posted by sponsored post on April 9, 2013
Rick and Dawn Gray are closing in on becoming empty-nesters after raising their children in a townhome in the West Loop. They wanted single-floor living with nearly as much space as they had in their townhome, and wanted to remain in the neighborhood they’ve called home for 16 years. When Rick and Dawn saw the ...
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Posted by sponsored post on April 8, 2013
I’ve met and interviewed Philip Barash twice, both times on weekends and in sharply different venues. Our first meeting was in the striking six-story atrium at 311 South Wacker, and our second in his condominium at 235 Van Buren, one of or sponsors. On both occasions I couldn’t help but notice his quiet but distinctive ...
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Posted by Joe Zekas on April 5, 2013
The headline describes the above view, shot from the 74th floor of Trump Tower, of the Ritz-Carlton Residences at 118 E Erie St. The headline also calls to mind an exchange between the Donald and the Ritz sales team from August of 2006. The contretemps came in response to a report that Q2 2006 sales ...
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Posted by Joe Zekas on April 4, 2013
The Illinois Department of Transportation (IDOT) and residents of a condominium building at 400 S Green recently sparred on the siting of an expressway ramp. IDOT’s original proposal would have placed the ramp within 7.5 feet of the south wall of Green Street Lofts. According to a Tribune report: “Would you want your child to ...
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Posted by Joe Zekas on April 4, 2013
A pair of 938 square foot 1-bedroom, bath-and-a-half homes are available for rent on the 45th and 47th floors of Trump Tower. Unit 45E is listed at $3,500 per month. The northwest-facing units boast expansive views of the lake and city to the north and the cityscape to the northwest. Nick Nastos of Chicago’s Property ...
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Posted by sponsored post on April 3, 2013
The 1,952 square foot 2-bedroom, 2 ½ bath F units on the 72nd through 85th floors of Trump Tower have a sought-after split-bedroom plan. One of the rarely-available F units is currently for sale on the 74th floor. It has dazzling views to the east, north and south from floor-to-ceiling windows. The sumptuous master suite ...
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Posted by sponsored post on April 2, 2013
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