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ChicagoDowntown / Loop

Available MLS-listed downtown rentals at 6-month low

Aerial view Chicago Loop

Just over 1,000 homes and condos were listed as available for rent yesterday in the 14 downtown ZIP Codes that we track. The 1,008 listings were the lowest number we’ve seen in more than 6 months. Available units in South Loop ZIP Code 60605 dropped from 130 early last October to 87 yesterday, a one-third ...

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Posted by Joe Zekas on April 17, 2014
News & trendsMarket conditions

North lakefront MLS-listed rentals on the rise

Aerial view

The number of MLS-listed homes and condos available for rent in six north lakefront ZIP Codes from Lincoln Park to Rogers Park is 16% higher than it was six weeks ago, and 35% higher than at the same time two years ago. The 668 units currently available for rent represent only a 3% increase since ...

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Posted by Joe Zekas on April 16, 2014
ChicagoFar North

Alderman’s Facebook page announces new Ravenswood development

Aerial view Clark & Lawrence

News about new developments surfaces in many venues. On April 12th, the Facebook page for 47th Ward Alderman Ameya Pawar announced a proposed development at the northwest corner of Clark and Lawrence, a site that’s been vacant for more than half a dozen years. The site is zoned B2-3, which would allow a mixed-use retail ...

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Posted by Joe Zekas on April 15, 2014
ChicagoNorth Side

A 2-bedroom home that Mies might approve

340 Diversey

The just-listed 2-bedroom, 2-bath home at Commonwealth Plaza, 340 W Diversey, is billed as a “Mies masterpiece.” Shall we shorten that to Miesterpiece? The home has undergone a renovation that respects Mies van der Rohe’s spare and timeless architecture. Floor-to-ceiling windows offer north views of the park and lake. A built-in office is a major ...

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Posted by Joe Zekas on April 3, 2014
ChicagoDowntown / Loop

Chicago apartments sell at record per-unit price

Walton on the Park

Chicago Real Estate Daily reported last Friday that Crescent Heights has acquired 161 apartments that had been rented in the 201-unit Walton on the Park condominium building, 2 W Delaware. The reported sales price of “about $160 million” included commercial space, parking and a parcel north of the building currently zoned for 261 units. That ...

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Posted by Joe Zekas on March 31, 2014
ChicagoNorth Side

A soaring duplex at Lakeview’s Lincoln Theater Lofts

3160 Lincoln

The 2-bedroom, 2-bath loft at 3160 N Lincoln spans 1,700 square feet. The entry explodes into a dramatic space with soaring 18-foot ceilings. It’s a space that’s ideal for entertaining, with a dream kitchen boasting ample cabinets, stainless-steel appliances and expansive counter space open to a large living / dining area and a walk-out balcony. ...

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Posted by sponsored post on March 25, 2014
News & trendsMarket conditions

Million dollar home sales up 40% year-over-year

2700 N Paulina Chicago

The following market update arrived via a news release from RE/MAX Northern Illinois: Winter winds and frigid thermometer readings couldn’t cool the activity level in the luxury home segment of the metropolitan Chicago real estate market during the first two months of 2014. Compared to the same period in 2013, the number of $1 million-plus ...

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Posted by Joe Zekas on March 20, 2014
ChicagoDowntown / Loop

CMK sells out 235 Van Buren, parking still available

235 Van Buren Chicago

235 Van Buren has sold the last of its 714 residential units. A few parking spaces remain available for sale, priced from $28,900 to $32,900 for single-car spaces and $46,900 to $49,900 for 2-car tandem parking. Monthly assessments range from $51 to $102 and property taxes are estimated at $50 to $100. The Ralph Johnson-designed ...

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

A Metropolitan Tower two-bedroom gem

Grant Park

Built in 1924, the Metropolitan Tower at 310 S Michigan Ave, was Chicago’s first building with 30 or more floors. In the early 2000s the building was converted into 220 luxury condos. Unit 2007 is a nicely upgraded, split-layout 2-bedroom, 2-bath with 11-foot ceilings. It has an in-unit washer / dryer and large walk-in-closets in ...

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Posted by sponsored post on February 12, 2014
ChicagoDowntown / Loop

High style, budget prices at sold-out Ukrainian Village condos

742 N Western

The six new 2- and 3-bedroom condos at 742 N Western in Ukrainian Village sold out pre-completion. That’s been the typical pattern for developments by Noah Properties. Noah Properties‘ developments have a number of features in common: high-style finishes, large windows, showplace kitchens and baths, an all-inclusive features package, and very competitive pricing. The units ...

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Posted by sponsored post on February 10, 2014
ChicagoSouth Side

New construction in McKinley Park for $439K

Brighton Park video

Yesterday’s new listings alert included a 3-bedroom, 3 ½ bath home, one of several new homes on a bleak stretch of 32nd St in McKinley Park. The home was listed for sale at $439,000 and listed as under contract within a day. I don’t have any specific information about this property, but I have seen ...

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Posted by Joe Zekas on January 31, 2014
ChicagoDowntown / Loop

Trio sells for above-condo prices

Aerial view of Trio location, Chicago

Crain’s Chicago Real Estate Daily reports that the 100-unit Trio high-rise and a number of units in the mid-rise portion of the project have been sold to a New York-based investment group. The estimated sale price was approximately $40 million, an indication that Chicago apartment values aren’t yet victim to the bubble feared by Crain’s ...

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Posted by Joe Zekas on January 30, 2014
ChicagoNorth Side

The Hermitage Sixteen11 groundbreaking in Bucktown

1611 Hermitage

Jennifer Mills, Aaron Share and Koenig & Strey’s Home Discovery Team have sold over 65% of the units at Hermitage Sixteen11. Only five units remain unsold at the new Bucktown development. A number of the buyers showed up for the official groundbreaking and ribbon-cutting ceremony, held on location at 1611 Hermitage while construction work continued ...

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Posted by sponsored post on December 31, 2013
ChicagoDowntown / Loop

Mod apartments, 1222 W Madison St, West Loop

Mod, 1222 W Madison

Mod is a 5-story, 58-unit luxury apartment building at 1222 W Madison St in the West Loop. Sullivan Goulette & Wilson was the architecture firm for Mod, which was conceived as a condominium but converted to rental apartments in 2009 as a result of a market downturn. Fifield Companies recently acquired Mod, along with a ...

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

A West Loop new construction update

Arkadia, 12/13

The West Loop is currently Chicago’s highest-energy neighborhood, with dozens of apartment, office, hotel and restaurant developments currently in progress. I stopped by last Friday for a look at a few of the residential projects, beginning with Arkadia, which is rising quickly at 765 W Adams. The Madison at Racine is also out of the ...

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Posted by Joe Zekas on December 16, 2013
ChicagoNorth Side

Top-tier Lincoln Park townhomes at The Pointe

The Pointe

The Pointe, at Lincoln and Armitage in Lincoln Park, is one of the most sought-after townhome communities in Chicago. These spacious homes range in size from 2 to 4 bedrooms and include private outdoor space and attached garages. The big draws for The Pointe are the steps-from-everything location and nearby Lincoln Elementary School, one of ...

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Posted by sponsored post on December 10, 2013
ChicagoNorth Side

North lakefront rental inventory dips

Aerial of north lakefront

The number of homes and condos listed for rent in the MLS in six north lakefront ZIP Codes had been trending steadily upward, from 542 in mid-June to 742 in mid-November. As of yesterday there were 706 units listed in ZIP Codes 60614, 60657, 60613, 60640, 60660 and 60626. That’s a 4.9% decrease from two ...

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Posted by Joe Zekas on December 5, 2013
ChicagoNorthwest Side

Slow progress on Chicago Avenue condos

2424 Chicago

When I stopped by in early August, picture above, the 8-unit condo building at 2424 W Chicago Ave was nearly topped out. Yesterday’s visit showed less progress than I’d expected after the passage of three and a half months. Work was in progress, but the building still wasn’t fully closed in. A sign on the ...

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Posted by Joe Zekas on November 21, 2013
ChicagoNorth Side

MLS-listed north lakefront rentals hit another high

Halsted Flats

A year ago at this time there were 494 MLS-listed homes and condos available for rent in ZIP Codes 60614, 60657, 60613, 60640, 60660 and 60626. Those ZIP Codes span from Lincoln Park north to Rogers Park along the lake. As of yesterday evening the inventory of available rentals in these ZIP Codes had soared ...

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Posted by Joe Zekas on November 15, 2013