June 2016

Found 8 blog entries for June 2016.

July Events in Chicago The 4th of July fireworks may be over for the year, but there’s still plenty of fun heating up the Downtown Chicago area this month. From locally made art to sampling an array of local menus, the month of July has plenty to offer. 

artfest Michigan Avenue- N. Michigan Avenue (July 15-17)

An array of artwork and exhibits will transform eight blocks of Michigan Avenue this year during artfest Michigan Avenue. Held mid-month, the festival will include three-days of crafts and artwork to enjoy.

Taste of River North- Ward Park (July 22-24)

The next weekend, meanwhile, invites the tastes and sounds of the appropriately themed Taste of River North food and music festival. Held at Ward Park the three-day long event will include plenty of fun and games

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Some positive news for Chicago-area homeowners, as home appreciation in the area recently ranked second in the entire nation in recent months. In comparing March to April 2016, the Case-Shiller Home Price Indices found that Chicago was number two when it came to the highest growth in home prices.

During that time period prices grew by 2-percent, slight less than the 2.1-percent that homes in Seattle experienced, yet well more than a majority of other major metro areas. Nationwide the country only experienced 1-percent. When adjusted seasonally, though, the National Index ended up a mere 0.1-percent.

Experts point to a positive economy during this time, including low mortgage rates and low unemployment. Still though, there is some concern about

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Even with development already crazy right now in River North, another residential tower appears to be in the works from Lennar Multifamily Community. Just recently announced were plans to build a sleek new apartment tower at 675 N. Wells, which is currently occupied by a 24,193 square foot parking lot. 

A number of rental buildings are already under construction all around the 675 N. Wells site, not notably at 167 W. Erie, 640 N. Wells, and 730 N. LaSalle. With so many new rentals having already hit the market, and so many also on the way, it’s hard to say whether Chicago’s apartment market will maintain its current red hot status. 

Just this year alone, developers are finishing off 4,000 new units in downtown Chicago, while 2017 is expected to

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River North Condos A new River North mixed-use development has recently been unveiled and it could call for the addition of a rooftop lounge along with a New York-based restaurant. Slated to go in at the northwest corner of Hubbard and LaSalle where a parking lot now exists is a proposed 199-room, 18-story hotel.

Designed by Saroki Architecture of Michigan, the glass tower is expected to include a restaurant on the street-level as well as a rooftop lounge that leads to an indoor swimming pool, fitness center and meeting space. The developer is said to be negotiating with a couple of restaurants, including New York’s “The Smith” and a 4.5 star hotel to fill the space.

While some nearby neighbors have expressed concern over expected noise and traffic in the area,

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Although it’s been awhile since the townhouse development at 20 Loomis Street has been announced, an update has just recently been announced for the project. With West Loop real estate still on the rise, developers now may be targeting luxury buyers, as floor plans will now offer four bedrooms and four bathrooms. In addition, prices will now start at $2.199 million, which for a four bedroom townhouse that you won’t find anywhere else in the red hot West Loop is a pretty favorable deal. 

The exterior of 20 Loomis has also undergone some design changes and will now feature a sleeker dark gray and black color scheme rather than the original red and beige plan. The general concept of 20 Loomis, however, remains the same and the development will also

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In efforts to help bolster Chicago’s public schools plus the troubled police and firefighters pension plans, area homeowners will soon see a spike in property taxes. The tax bills will be mailed out soon, delivering Chicago homeowners with news that they’ll pay 13-percent more on average this year than they did last year. That’s in accordance with figures recently released from the Cook County Clerk’s office.

More specifically, according to some reports, the homeowner of a property worth $225,000 will see their property taxes go up another $413 per year, bringing the total to $3,633. The news comes as Chicago homeowners had anticipated seeing some sort of a hike in bills this year, also letting them know that that their property taxes will continue to go

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West Loop CondosWith approval for new West Loop condos in place, demolition crews recently began work tearing down an old parking garage and auto garage at 1045 W. Washington. In its place developers plan to construct dozens of new luxury condos.

The proposed structure will include six-stories and 70 condos, all with three-bedrooms and three-baths. The units will be priced in the mid $800,000s. Named CA Washington, all but 18 of the 70 available units had already sold out by mid June.

In addition to the condos the development will offer 78 parking spaces. Sized around 2,100 square feet, these reported family-friendly condominium units should be delivered to buyers sometime in fall 2017.

Designed by Sullivan Goulette & Wilson, this particular project is the fifth development

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Chicago Spire Concepy PlaceDevelopers of the site of the once promising Chicago Spire have a new ambitious project in the works with the release of a conceptual tower bringing the new and imagined possibility of a mixed-use property to North Water Street. Named the Gateway Tower, the project aims to retain the 2,000-foot height that was once promised with the original idea.

The Chicago Spire project began in 2005 with the hope of developing luxury condominiums and selling them for some of the highest prices ever listed per square foot in the City of Chicago. While the 150-story project offered impressive presales for its 1,194 units, including the addition of a two-level penthouse under contract, construction ceased in 2008, leaving the more than two-acre property empty for several

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