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ChicagoDowntown / Loop

Start of construction spurs sales at 1345 Wabash

1345 S Wabash

The new 15-story condominium at 1345 Wabash in the South Loop has begun to rise out of the ground and is on pace to add a floor every five working days. 1345 Wabash is the first new condo tower in downtown Chicago in years, and it’s targeting occupancy in March of next year. “We have ...

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Posted by sponsored post on August 1, 2014
ChicagoNorth Side

All but one unit sold at 1611 Hermitage in Bucktown

Hermitage Sixteen11

Hermitage Sixteen11 sits on the Bucktown side of North Ave, the dividing line between Wicker Park and Bucktown. When I stopped by yesterday, the building was one floor shy of its full four-floor height. Despite its pre-completion status, all but one of the building’s seventeen units are under contract. The remaining home is Unit 303, ...

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Posted by Joe Zekas on July 31, 2014

Available MLS-listed rentals at a high on North Lakefront

Lincoln Park

As of late yesterday there were 832 homes and condos listed for rent in local Multiple Listing Service in ZIP Codes 60614, 60657, 60613, 60640, 60660 and 60626. Those ZIP Codes span Chicago’s lakefront from Lincoln Park north to Rogers Park. The number of available rentals is at its highest level since we began tracking ...

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Posted by Joe Zekas on July 30, 2014
ChicagoDowntown / Loop

Is a South Loop rental bubble in the cards?

River City

When the condo market hit the skids in the latter part of the last decade the South Loop was one of the neighborhoods with the greatest imbalance between supply and demand. It took years to work off the excess inventory, some of which is still on the market in developments that were taken over by ...

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Posted by Joe Zekas on July 29, 2014
ChicagoNorthwest Side

New condo six-flats from hot-selling Noah Properties

3013 N California

Noah Properties is continuing its streak as one of Chicago’s hottest-selling builders, with most of the company’s offerings selling out pre-completion. Three new condo six-flats are nearing completion at 3013 N California Ave. Each of the buildings has two 3-bedroom, 3-bath duplexes and four 2-bedroom, 2-bath simplexes. The homes have the stylish showplace kitchens and ...

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Posted by sponsored post on July 28, 2014
ChicagoDowntown / Loop

Food options proliferate near new 1345 Wabash condos

Trader Joe's South Loop

Residents at the new condos currently under construction at 1345 Wabash in the South Loop will find a dizzying array of food shopping and dining options nearby – just part of the location’s allure as one of the most convenient and vibrant in Chicago. Jewel-Osco and Trader Joe’s are a block north at Roosevelt Rd. ...

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Posted by sponsored post on July 24, 2014
ChicagoDowntown / Loop

1345 Wabash condos have a focus on design

1345 S Wabash

A focus on design is nothing new for the CMK Companies. CMK has a history of creating architecturally distinctive high-rises that are, according to NewCity Design, “a relief from the so-so-ness of neighboring condo buildings.” At 1345 Wabash in the South Loop CMK has once again teamed up with Brininstool + Lynch, an architecture firm ...

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Posted by sponsored post on July 16, 2014
ChicagoNorthwest Side

Buying into a walk-up conversion was often a bad deal

4246 N Spaulding

In the 40 years that I’ve followed Chicago condo conversions I’ve rarely seen the renovation and condo conversion of a 12+ unit walkup buildings with studio to 2-bedroom apartments result in economic gains for the initial buyers. That’s been the case regardless of the attractiveness of the neighborhood, but the results have often been disastrous ...

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Posted by Joe Zekas on July 14, 2014

Chicago condo smoking bans and more

2626

The smoking ban at the 2626 N Lakeview condominiums is old news by now, but you’ll get an expanded look at some of the legal backdrop in the latest issue of the Chicagoland Cooperator. The publication focuses on issues relevant to local condos and co-ops. The June issue of the publication has a roundup of ...

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Posted by Joe Zekas on July 14, 2014
ChicagoDowntown / Loop

New South Loop condos in a convenient location

1345 Wabash

Perspectives can be deceiving. In the first photo, the crane for the construction of the new 1345 Wabash condominiums appears to be directly behind the Jewel-Osco on Roosevelt Rd. In the photo directly above the crane seems to be across the street from the south end of the Jewel. It’s actually a full block south. ...

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Posted by sponsored post on July 3, 2014
ChicagoDowntown / Loop

1345 Wabash condos begin to rise in South Loop

1345 Wabash

Probably the most important milestone in the completion of a high-rise building is the erection of the tower crane that does the heavy lifting of the building’s materials. The tower crane at 1345 Wabash was fully assembled during the past several days, despite some weather-related delays. The first new condominium high-rise built in the South ...

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Posted by sponsored post on June 27, 2014
ChicagoDowntown / Loop

1111 South Wabash is on the mend, agents say

1111 S Wabash

The Gammonley Group was considered a pioneer when it began sales in 2001 for 1111 S Wabash, a 34-story, 247-unit condominium in the South Loop. A few years later the market had become crowded. The building passed the 80%-sold mark early in 2004 before sales slowed to a trickle, and a few developer units were ...

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Posted by Joe Zekas on June 23, 2014
ChicagoDowntown / Loop

New South Loop condos in a convenient, fun location

1345 Wabash

1345 Wabash, which is under construction in the South Loop, is the first new condo high-rise in the neighborhood in six years. The building has a terrific location, within a short walk of bars, destination restaurants, grocery shopping, parks and public transportation. 1345 Wabash is aiming to set a higher standard for design and style. ...

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Posted by sponsored post on June 23, 2014
ChicagoNorthwest Side

Construction underway on 30 North Center condos

2437 Irving Park

If you drive Irving Park Rd between the Kennedy Expressway and Western Ave you’ll see a number of fairly large sites that are cleared, fenced and apparently ready for development. We noted last October that Noah Properties was seeking to rezone a parcel at 2437-2457 W Irving Park Rd in North Center for the construction ...

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

South Loop construction update, 1345 Wabash

1345 Wabash

Since the time of our last visit to 1345 Wabash in the South Loop work has been completed on the concrete pad that will anchor the tower crane that will hoist materials for the 15-story building. 1345 Wabash is the first new condo high-rise to be built in Chicago’s South Loop in nearly 6 years. ...

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Posted by sponsored post on June 17, 2014
ChicagoDowntown / Loop

235 Van Buren parking sells out at auction

235 Van Buren

When 235 Van Buren completed the sellout of its 714 condo units earlier this year, 63 parking spaces remained unsold in the 11-story, 570-space parking garage. All 63 spaces were sold, primarily to individual buyers, at an auction held on June 5. The selling prices were reportedly in the low- to mid-$20s, well below the ...

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

New South Loop condos have great access to big-box retail

The Maxwell

Most people value the experience of shopping at small, locally owned retailers. They also recognize and value the need for having convenient access to major national retail chains. The Roosevelt Road corridor is shaping up to offer access to major retailers that rivals what’s available in the Clybourn Corridor area on the North Side. The ...

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Posted by sponsored post on June 13, 2014
ChicagoFar North

MLS-listed Edgewater rentals reach a low

Aerial view of north lakefront

There were 43 homes, apartments and condos listed for rent in the local Multiple Listing Service in ZIP Code 60660 as of yesterday morning. That’s the lowest level we’ve seen since we began periodic tracking over two years ago. The available listings ranged from a studio renting for $650 a month to a 3,000 square-foot ...

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Posted by Joe Zekas on June 12, 2014
ChicagoDowntown / Loop

State and Elm demolition recalls a notorious one

4 East Elm

The recently-demolished site that’s slated for new condominiums at 4 East Elm in the Gold Coast reminded me of the steel skeleton that stood for years at the southeast corner of State and Division. The two-story building currently at the site is occupied by Bank of America. The audacious Lou Wolf, a convicted arsonist and ...

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Posted by Joe Zekas on June 11, 2014
ChicagoDowntown / Loop

Some profit, some lose at 565 Quincy

565 Quincy

When 565 Quincy slashed prices early in 2010 it was one of the last projects to join the price cutting that was prevalent in the condo market at the time. Last September we noted that three units purchased after the price cuts were on the market and looking to sell at a profit. Two of ...

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Posted by Joe Zekas on June 10, 2014