Real estate news & trends
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Vacant land
Five years ago today we were reporting on updated pricing for a new condo development planned for 2800 N Lincoln Ave in Lake View, across from Gino’s East. Two-bedroom, 2-bath units were priced from the $530s and “penthouse” units started in the $810s. Ten months later, prices had dropped a bit and the project was ...
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Posted by Joe Zekas on March 19, 2013
S Loop Chicago Development, LLC, a single-purpose entity which is part of a group of companies affiliated with Crescent Heights, has purchased approximately 3 acres of land in the South Loop, it was announced today by Jason Buchberg, Vice President of the company. The purchase consists of two sites in the highly-trafficked Michigan / Roosevelt ...
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Posted by Joe Zekas on December 18, 2012
Back in the early 1980s I bought two lots in the 1800 block of Maud St, not far from Adams Parkin the Ranch Triangle area of Lincoln Park. At the time, the park was largely deserted and had only sparse playground equipment. I bought my lots for $10,000 apiece from a guy who’d acquired them ...
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Posted by Joe Zekas on August 3, 2012
We first called attention to Lake Shore Estates, a group of lots fronting the park on Lake Shore Drive in Lakeview East that were zoned for single-family homes. The opportunity to build a new home in this location was unusual – and it still is. A number of lots are still available, as you can ...
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Posted by Joe Zekas on July 6, 2012
Crain’s is reporting that 4.67 acres of vacant land is available at Metro Place, a failed development on the Near West Side. The asking price is $1.65 million, and current zoning allows for development of an additional 127 homes. According to Crain’s: A venture led by Mr. McLean, president and CEO of Chicago-based MCL Cos., ...
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Posted by Joe Zekas on June 22, 2012
What NBC Chicago referred to as the “infamous hole” at 7070 N Clark St in Rogers Park is apparently headed for auction after languishing in uncertainty for half a dozen years. The property was listed for sale in 2009 for $3,950,000 as a “partially constructed 5-story 32-unit development project.” The price was reduced to $2,950,000 ...
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Posted by Joe Zekas on June 19, 2012
Five years ago today Jim Letchinger of JDL Development Corp was touting plans for a 24-story high-rise at 541 W Cornelia in Lakeview East. Construction was slated to begin in the fall, with first occupancy late in 2008 or early in 2009. Twenty-one full-floor units were priced from $1.1 million, and a duplex penthouse was ...
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Posted by Joe Zekas on March 23, 2012
The City’s Department of Housing and Economic Development announced that it is accepting sealed bids for four parcels of vacant land on the South Side. Minimum bid prices range from $1,920 to $34,800, and bids are due by April 13. The highest-priced parcel is 4515 S Greenwood, a 55 x 198 lot zoned RT-4. It’s ...
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Posted by Joe Zekas on March 14, 2012
Separate listings offer 1843 N Marshfield Ave in Bucktown as a 4-bedroom, 3 ½ bath custom home for $789,000, and as a vacant lot for $339,000. Both listings describe the seller as “very motivated,” and a search of the public records clarifies the motivation. The current owner acquired the property for $355,000 in October of ...
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Posted by Joe Zekas on February 27, 2012
You’ll find a number of multi-million dollar homes north of Addison along Wayne and Janssen. The home pictured above at 3804 N Janssen, for example, had once been listed for more than $3.5M and just came back on the market at an asking price of $3.295M. The 6-bedroom home, with 5 full and 2 half ...
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Posted by Joe Zekas on January 13, 2012
Whenever you read about a West Side or South Side neighborhood in Chicago’s mainstream media you need to double-check the reference. Reporters visit these areas infrequently, and are often clueless as to their whereabouts. About a month ago, for example, the Chicago News Cooperative (the New York Times’ local affiliate) ran a story based on ...
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Posted by Joe Zekas on November 21, 2011
Five years ago it would have been unthinkable to find a teardown candidate in Winnetka‘s sought-after Greeley School area for $225,000. That was before the market drought and the recent flooding in Winnetka. According to the listing copy for 972 Tower Rd: Lot is triangular with average width of 49.74 and max depth of 150′. ...
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Posted by Joe Zekas on October 7, 2011
On September 17 Rick Levin & Associates will be auctioning a variety of (mostly) bank-owned properties subject to minimum bids as low as 5% of a property’s original price. Some of the more interesting properties, according to veteran auctioneer Rick Levin In the sponsored video, include bulk sales of condos and parking spaces in Rogers ...
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Posted by sponsored post on September 6, 2011
Crain’s Chicago Real Estate Daily is reporting that a joint venture of the U.S. Navy and Forest City Enterprises is selling 37 acres with 1,100 feet of Lake Michigan frontage at the former Fort Sheridan military complex. The asking price for the property, which is in Highland Park and Highwood, is $25 million. Although the ...
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Posted by Joe Zekas on June 14, 2011
If you have long exposure to real estate marketing you’ll roll right past claims that the 2700 block of Lakewood is at “the heart of Lincoln Park” or that the corner of Diversey and Lakewood is “Lincoln Park’s most exclusive new addresses” – without even an eye roll. You’ll simply focus on what’s for sale ...
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Posted by Joe Zekas on May 25, 2011
The Solar Park subdivision, a creation of architects Keck & Keck, dates to the early 1940s – a period when what we now call World War II had dramatically increased energy costs. Solar Park is on the south side of Glenview Road and is bordered on the east and south by the Harms Woods forest ...
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Posted by Joe Zekas on May 18, 2011
We normally see only a few items each week in the RSS feeds we monitor from the City of Chicago’s various departments. Perhaps it’s merely coincidental, but on mayoral inauguration we found 50 items to review. We’ve linked a number of them at our News page, where we summarize the latest from the 100s of ...
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Posted by Joe Zekas on May 16, 2011
There’s nothing extraordinary about the to-be-built 4-bedroom, 4 ½ bath home at $1,295,000 on a 50 x 150 lot at 1327 Washington Ave in Wilmette. A similar home is pictured above. The location is excellent – just over a block from the Metra station, Vattman Park and around the corner from McKenzie School. What is ...
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Posted by Joe Zekas on March 27, 2011
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