Real estate news & trends
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New construction
The Chicago Plan Commission yesterday approved construction of a new 33-story, 290-unit apartment tower with ground-floor retail space at the northeast corner of Chicago and LaSalle. Smithfield Properties is the developer. The next step for the project is approval by the full City Council. ADDED: Adam Berkelhamer of Berkelhamer Architects reached out with the following ...
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Posted by Joe Zekas on May 17, 2013
Three of the dozens of new apartment projects in downtown Chicago are visible in the above view. The building with the recessed balconies and construction elevator to the left of center is AMLI River North. The 50-story, 409-unit tower is currently leasing apartments for “summer 2013″ occupancy. Hubbard Place is front and center in the ...
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Posted by Joe Zekas on May 17, 2013
Most Chicago high-rises are built on tight sites that impose stringent demands on construction staging. Materials are typically delivered on a just-in-time basis that affords spectators few opportunities to gape at the wide variety of substructures and assemblies that come together in a sleek, simple-appearing finished building. When it’s complete the project that’s underway at ...
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Posted by Joe Zekas on May 15, 2013
William “The Refrigerator” Perry, a/k/a The Fridge, has an irreplaceable spot in the hearts of Bear fans of a certain age. Some of the wags at the SkyscraperPage forum have noted a resemblance between the new Optima Center and a giant refrigerator and dubbed the building “Da Fridge.” Another commenter sees an “Android Style Robot ...
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Posted by Joe Zekas on May 15, 2013
Late last week Crain’s Chicago Real Estate Daily reported that the developer of the former Lakeshore Athletic Club at 850 N Lake Shore Dr had secured an $80 million construction loan to complete the conversion of the building to 200 rental apartments. The Crain’s report contained a major surprise: “The construction is probably about two-thirds ...
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Posted by Joe Zekas on May 14, 2013
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
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
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
The apartment tower that’s under construction in the Loop at 111 W Wacker was originally slated to host a hotel and condominiums and to soar to more than 1,000 feet in height. Had Waterview Tower been completed as planned, it would have become Chicago’s seventh supertall. Waterview Tower began construction in 2006 and stalled out ...
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Posted by Joe Zekas on May 8, 2013
A tower crane is arguably the most critical element in the construction of a high-rise building, and the dismantling of the crane marks a major milestone in a building’s progress. Another major milestone is completion of the building’s fenestration. As you can see from the above photo, window installation has passed the halfway point at ...
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Posted by Joe Zekas on May 8, 2013
Every RD Precision home is unlike any home you’ve ever seen. Like every RD Precision home, the new 5-bedroom, 3 ½ bath, 2-car garage home at 1718 W Wellington in Lake View boasts designer-quality finishes with an unexpected flair and sophistication. The newly-listed home is in the Burley School attendance boundaries and is priced at ...
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Posted by sponsored post on May 7, 2013
Brian Kidd was the senior project architect for K2 at K Station, a 34-story, 496-unit luxury apartment tower that recently opened in the Fulton River District. Brian is a Senior Associate at Pappageorge Haymes Partners in Chicago. Join Brian for an insider’s look at the challenges posed by K2′s site, the process that informed the ...
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Posted by sponsored post on May 7, 2013
Unlike a number of buildings that don’t allow rental services to advertise their property anywhere, 500 Lake Shore Drive‘s broker agreement (PDF) explicitly authorizes them to advertise on their own websites. Rental services are prohibited from advertising the property on Craigslist or other sites, and are not allowed to use their own photos in any ...
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Posted by Joe Zekas on May 6, 2013
Noah Properties’ high-style amenity-laden homes typically sell before completion. That was the case with the four 4-bedroom, 3 ½ bath homes Noah recently built in the 1800 block of Ohio in the East Village. The homes were sold in the mid-$800s. The standard, highly-individualized Noah Properties home includes all of the options that buyers desire ...
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Posted by sponsored post on May 6, 2013
The first of three evening events showcasing seven furnished model apartments took place last night at K2, the new luxury apartment high-rise in the Fulton River District. The event drew a crowd that numbered in the hundreds. There was great weather, good food, refreshments, music from KISS FM, luxury cars from Perillo and an opportunity ...
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Posted by Joe Zekas on May 2, 2013
K2, the new 496-unit luxury apartment tower in the Fulton River District, may have been the first Chicago high-rise to open its outdoor pool this season. It’s also the first to host a Designer Showcase, featuring seven furnished models from noted architects and designers. The models will be shown off at a Designer Showcase event, ...
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Posted by sponsored post on April 29, 2013
Construction is well underway on Phase Two of the Lake Park Crescent Apartments in the North Kenwood / Oakland neighborhood. The development is part of the CHA’s Plan for Transformation and replaces public housing that once occupied the site. Phase Two includes an 8-story 81-unit apartment building, pictured above, and 51 units in 3- and ...
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Posted by Joe Zekas on April 26, 2013
K2, a new 496-unit luxury apartment tower in Chicago’s Fulton River District, Chicago-based Fifield Companies and Wood Partners, one of the nation’s leading multifamily developers, will host a first-of-its kind K2 Designer Showcase May 1 – 3 to celebrate the grand opening of K2. The K2 Designer Showcase, which is open to the public, will ...
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Posted by sponsored post on April 25, 2013
Last August we looked in on a 44-foot wide lot at 1859 N Orchard, pictured above, where a developer had paid $2,550,000 to acquire four condominium townhomes and proposed to build a home on the site for $6,950,000. The to-be-built home is still listed at that price. Earlier this year the property was also listed ...
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Posted by Joe Zekas on April 23, 2013
To celebrate the grand opening of K2, a new 496-unit luxury apartment tower in Chicago’s Fulton River District, Chicago-based Fifield Companies and one of the nation’s leading multifamily developers, Wood Partners, will host a first-of-its kind K2 Designer Showcase May 1 – 3. Open to the public, the K2 Designer Showcase will feature seven models ...
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Posted by sponsored post on April 23, 2013