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Archive for the ‘Renovation’ Category

Newport Green model opens in Lake View

Monday, November 10th, 2008

Green on Newport at 815-817 W Newport in Lake View, Chicago

A couple months ago I wrote about Clybourn Green, CG Development's eco-friendly condo conversion at 2401 - 2409 N Clybourn Ave in Lincoln Park. Now, CG is unveiling Newport Green, a green gut rehab at 815 - 817 W Newport Ave in Lake View. From the street, it looks like a regular six-flat, but this Lake View conversion actually has nine units, and three of those homes are duplexes.

"It's being built to the specifications of Energy Star," says Tod Pratt from Koenig & Strey GMAC Real Estate, and points to its soy bean-based insulation as one of its most important energy-saving features. Pratt says CG is the first developer in the city to seek Energy Star certification.

"Energy Star comes out and independently tests the building," Pratt says. "They pressurize the building and they pressurize the units individually to ensure that they're tight units. The biggest benefit is up to 70 percent utility bill savings."

According to a marketing brochure, the developer is expecting to exceed Energy Star requirements by 50 percent. The building is currently under construction, and the renovation involves adding a new roof, all new plumbing and electrical work, a new furnace and air-conditioning system, and thermal windows. Buyers will choose from recycled glass or granite countertops in the kitchens and bathrooms, and the bathrooms will feature Kohler fixtures and Toto toilets.

The smaller two-bedroom / two-baths have about 1,200 square feet of living space, according to Pratt, and they're priced from the $330s to the $350s. The larger two-bedrooms have between 1,600 and 1,700 square feet, and they're priced from the $470s to the $480s. The duplexes have more than 2,000 square feet of living space, and they're priced from the $480s to the $540s.

Only the five largest units come with parking, and Pratt says there is a lot down the street that has two spaces to rent for $200 per month. The other two buyers will have to jockey for street parking.

A model unit opened in the building about two weeks ago, and Pratt says most of the homes can be ready for 90-day deliveries.

- Rate and review Newport Green at NewHomeNotebook.com

800 block of Newport Ave in Lake View, Chicago

Sales update: Four left at Roscoeview

Tuesday, November 4th, 2008

Roscoeview at 3400 N Greenview Ave in Lake View ChicagoWe've written a bunch of posts over the past six months about new developments with "-view" in their titles, but this Lake View rehab doesn't appear to have anything in common with the "Tetris-like" buildings developed by Dolce Living. JAB Real Estate developed the 18-unit Roscoeview at 3400 N Greenview Ave and is down to just four unsold homes in the building, according to sales director Paul Chason.

All of the remaining units have one bedroom, one bath, and about 750 square feet of living space, and they're priced from the $230s to the $250s. According to JAB's Web site, the homes come with Toto dual-flush toilets, Whirlpool tubs and the requisite combination of stainless-steel appliances and granite countertops.

Chason says all four units are finished out, and the should be ready for delivery within a week of purchase.

JAB will soon introduce a second phase of Roscoeview development, which will be another 19-unit renovated building just to the west of the existing building, and it will have a pretty even mix of one- and two-bedrooms that will be priced from the $240s. Chason says that work on the Phase II building is nearly complete, and marketing for that development will begin soon.

Roscoeview model photo Roscoeview model photo

Own or rent at Metropolitan Tower

Thursday, October 23rd, 2008

Metropolitan TowerFor more than a year we've been reporting that Metropolitan Tower, Metropolitan Properties' conversion of the former Encyclopedia Britannica office building at 310 S Michigan Ave, has been nearing closeout.

The development is exclusively marketed by Equity Marketing, which lists just seven Metropolitan Tower units on the MLS. Another 14 condos are being sold through a variety of different brokerages, at least several of which are resales.

The homes marketed by Equity include one-, two- and three-bedroom condos with one to three baths that range in size from 752 to 1,585 square feet, and they are priced from the $390s to $1.04 million. The homes that are being sold by other brokerages include one- to four-bedrooms with between one and four baths. The smallest of those homes is a 751 square-foot one-bedroom priced in the $280s, while the four bedroom penthouse has 2,600 square feet of living space and a price tag of $1.88 million.

According to my calculations, the average price of the Equity's homes is $598 per square foot, while the average for the units sold through other brokerages is $607 per square foot. I'm comparing different units that are located in different parts of the building, so it's difficult to infer too much from that, except that the units that are being sold by the developer and those that aren't appear to be comparably priced.

An equally wide range of rental units are currently listed as well. A 750 square-foot one-bedroom is renting for $1,600 a month, while a 1,960 square-foot foot home with three bedrooms and three baths is offered for $4,950 per month.

- Rate and review Metropolitan Tower at NewHomeNotebook.com.

Photo update: Clybourn Green in Lincoln Park

Thursday, September 18th, 2008

Clybourn Green (old photo)

Clybourn Green (new photo)

Soon after I posted an update a couple of weeks ago on CG Development's Clybourn Green in Lincoln Park, we received a call from the developer, who pointed out that the building looks a bit different these days. So one of my recent North Side outings, I made sure to swing by 2401 - 2409 N Clybourn Ave, to have a look for myself.

Now that I've seen images of the building before and after renovation, I concede that the old pre-construction photo isn't very representative of what residents will be moving into at Clybourn Green. The fire escapes on Clybourn have been removed, and it looks like there's been extensive repointing of the masonry. According to the project's Web site, a new roof and thermal windows have been added, and the retail space looks spiffed up as well.

As I wrote in August, 16 one- and two-bedroom condos that are priced from the $190s to the $330s are available at Clybourn Green.

- Rate and review Clybourn Green at NewHomeNotebook.com

Three-bedrooms on North Wilton in Wrigleyville

Friday, September 5th, 2008

3645 N WiltonWith their team mired in a five-game losing streak, I'd imagine Cubs fans are putting on their rally caps and trying figure out some way to bust the slump. Could that include the purchase of a new condo just a block east of the bleachers? I don't see why not.

This place should be added to Joe's "Living in the shadows of Wrigley" post from April: a six-unit rehab development at 3645 - 3647 N Wilton Ave in Lake View. Dean Stellas of JP Stellas Properties says five of the building's six three-bedroom units are still available, and they're priced from the $450s to the $520s.

Stellas says the building had rental apartments before, but it didn't have to be entirely gutted. However, new porches, electrical, plumbing, and a new roof have all been added.

Each unit comes with a 1.5-car outdoor parking space, and the building is located less than a block from the Addison Red Line station. Stellas says a model will be ready next week, and the units will be ready for delivery by late October.

October move-ins at Six North Michigan

Thursday, September 4th, 2008

Panoramic view from Six North Michigan

Do you like this view? It's pretty decent, and for the modest price of $5.5 million it could be yours, along with a 5,500 square-foot penthouse with a 3,000 square-foot terrace at the top of Six North Michigan. The penthouse is spread out over four floors and has its own private elevator, according to @properties agent George Schultz.

Six North Michigan renderingI haven't been able to find a listing for that penthouse, either on the MLS or on the development's Web site, and Schultz says it's still under construction. However, that isn't the only luxury penthouse available at Six North Michigan: Schultz says there are six more two- and three-bedroom duplex penthouse units priced from $1.65 to $1.99 million.

I don't want to give the impression that the only units offered at Six North Michigan are restricted to the multi-millionaire set. Schultz says there are still a number of one- and two-bedroom condos priced from the $320s to the $720s, including a pair of one-bedroom-plus-dens that recently returned to the market that are priced in the high $390s and the low $400s.

Schultz says there is just one remaining two-bedroom / two-bath that's priced in the $720s, and at least 16 available one-bedroom / one-baths priced from the $320s to the $360s. Building amenities include a 24-hour door keeper, a lounge, an eight-seat movie theater, a fitness room with a sauna and steam room, and a common terrace on the 20th floor.

Parking is priced from $50,000 to $60,000. Schultz says first move-ins will begin next month, and he hopes to close 20 to 40 units between October 1st to November 15th.

- Rate and review Six North Michigan at NewHomeNotebook.com

Green on Bell's eco-features

Thursday, August 28th, 2008

Green on BellIt's unusual to see a two-story rehab like this marketed with a watercolor rendering, but maybe Green on Bell at 1316 N Bell Ave in Wicker Park isn't ready for its glamor shot.

On the surface, this three-unit walkup doesn't seem much different from other rehab projects that can be found in Wicker Park, until you take a close look at some of its special features. I've griped before about the number of new developments or rehabs that attach "Green-" to their titles just for offering bamboo floors and appliances that are slightly more efficient than average, but if buyers can save on monthly assessments, these places should have an advantage over their "un-green" counterparts.

Here's a partial list Green on Bell's energy-saving and green features:

  • New 92+% efficiency furnace and high-efficiency A/C
  • New water saving plumbing and electric throughout each unit
  • New roof and thermal windows
  • Forest Stewardship Council (FSC) certified Oak hardwood floors throughout
  • FSC-certified 42" maple cabinetry with crown molding
  • Choice of concrete and recycled glass or granite coutertops
  • Kohler fixtures and water-saving faucets
  • Toto dual-flush toilets

Elizabeth Lothamer from Koenig & Stray GMAC Real Estate says the project started about three months ago, and all four units will be ready for delivery within 30 to 45 days. The three two-bedroom / one-baths, which Lothamer estimates are between 900 and 1,000 square feet, are priced from the $270s to the $290s, and the three-bedroom / two-bath duplex, which has about 2,000 square feet, is priced in the $430s.

Assessments for the two-bedrooms range from about $155 to $166 per month, and the assessments for the duplex are estimated at $247 per month.

- Rate and review Green on Bell at NewHomeNotebook.com.

Clybourn Green back on track

Wednesday, August 27th, 2008

rendering of Clybourn Green at 2401 N Clybourn

When it comes to green building, it's the big new-construction high-rises that steal the headlines, but I'd wager that rehabbing and reusing an existing building would in most cases have less environmental impact than bringing in all new materials. One such project is Clybourn Green, an old 18-unit apartment building at 2401 - 2409 N Clybourn Ave in Lincoln Park that's being converted to condos.

Clybourn Green was first announced a little more than a year ago, but it seems to have stalled for most of the past year. Elizabeth Lothamer from Koenig & Stray GMAC Real Estate says she's beginning to market the project again, and they've just completed a model on site.

Lothamer says that two of the building's six one-bedroom condos have sold, and that 16 one- and two-bedrooms are still available. The two-bedrooms are between 1,050 and 1,100 square feet, Lothamer says, and I wasn't able to get an estimate on the size of the one-bedrooms, but they look quite a bit smaller. One-bedrooms start in the $190s, two-bedrooms start in the $280s, and there are also a few top-floor two-bedroom / two-baths with 13-foot ceilings that are priced in the $330s.

Lothamer expects monthly assessments for most units to stay around $200. For a complete list of Clybourn Green's eco-friendly features, check out this Yo post from last year, or visit Clybourn Green's Web site.

- Rate and review Clybourn Green at NewHomeNotebook.com

Introducing 1135 West Chicago

Monday, July 28th, 2008

1135 W Chicago Ave

It isn't much to look at right now, but this shabby old apartment building at 1135 W Chicago Ave in West Town is being gutted and rehabbed, and it looks like the facade is getting a pretty thorough makeover as well. One other thing that these photos don't show is that the development is just a few doors to the west of the Chicago Blue Line station, and it also overlooks the Kennedy Expressway.

I don't have much detailed information about this development at present, but Lydia Cardelli from Coldwell Banker Residential Brokerage tells me that the building will have three two-bedroom / two-baths and three three-bedroom / three-baths that will range from 1,400 to 1,500 square feet. Cardelli says the condos will be priced from $429 to $439, and parking will be offered for an extra $25,000.

The two top-floor units will have private roof terraces, and there are laundry facilities in the building. The ground floor will feature two 1,500 square-foot retail spaces as well.

Cardelli says she expects construction to be completed by September and deliveries to begin in October. I'll try to get my hands on some floor plans to post later this week.

1135 W Chicago Ave 1135 W Chicago Ave

Sales update: One rehab left at Sedgwick Court

Friday, July 25th, 2008

Sedgwick Court

Sedgwick Court, Jolie Properties’ two-building, four-unit gut rehab in the center of Old Town Triangle, is down to its last home, a two-bedroom / two-bath residence priced in the $580s.

The condo, which is on the upper floor of the two-unit building at 1742 N Sedgwick St, appears to have some vintage features to match its old age (Trulia says the building dates back to the 1890s), but it’s probably a bit of a stretch to call it a full-on vintage gut.

Yes, the pictures below (courtesy of Coldwell Banker Residential Brokerage) show off the place’s old stained glass and restored fireplace mantle, but there’s a good chance that its former residents weren’t showering with full-body sprays or cooking with a stainless-steel oven or microwave. There are some things buyers simply can't do without, after all.

The rear of this building opens into what appears to be a tiled courtyard with a fountain. Across from the courtyard is the second of Sedgwick Court’s buildings, which fronts Fern Court and contains the project's other two homes.

It’s hard to find much to complain about, location-wise. The Brown and Purple lines stop at the Sedgwick platform a couple blocks south, near the intersection of Sedgwick and North Avenue. Clark Street, Armitage Avenue, the southern end of Lincoln Avenue and Lincoln Park are all a short walk to the east, and it's a straight shot from Sedgwick to Eugenie Street to LaSalle Drive to Lake Shore Drive, from the looks of it.

Buyers won’t get a garage, and I’m not sure how easy it is to park along Sedgwick or its neighboring streets, so that could be a sticking point for a few buyers.

Sedgwick Court Sedgwick Court

- Rate and review this project at NewHomeNotebook.com.