August 2018

Found 3 blog entries for August 2018.

Lofts Chicago Timber lofts are some of the coolest properties you’ll find on the Chicago real estate market. Often housed inside old warehouses and re-vamped industrial buildings, most timber lofts for sale in Chicago also feature huge open layouts, sprawling exposed brick walls, and expansive industrial-size windows that let in plenty of natural light. But because of their uniqueness and high-level of desirability, timber lofts in Chicago are often quite pricey, unless you’re lucky enough to find an available unit inside one of these fabulous buildings…

701 W. Jackson

Finding an available loft in or around the West Loop for under $400,000 has become increasingly difficult, but every now and then you might find something here at 701 W. Jackson. Close to the

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Back in late July, an offer to turn 1400 N. Lake Short Drive back into apartments was denied by owners of the building, narrowly missing the 75 percent approval requirement set forth by Illinois law. Now, just over a couple weeks later, a second vote has reportedly been approved and New York-based developer ESG Kullen will in fact move forward with its original condo deconversion plan for the 391-unit vintage high-rise on Chicago’s lakefront.

According to Crain’s, the deal is nearly identical to the first offer and will pay owners around $425 per square foot, which is a significant jump from recent sales in the building that tallied just $300 per square foot.

Despite the increase, however, condo owners against the deal are worried they won’t be able

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Chicago Condo NewsResidents at 1400 N. Lake Shore Drive in Chicago’s Gold Coast neighborhood recently rejected a de-conversion offer from a New York-based investor, according to Crain’s Chicago Business.

As mentioned in the report, ESG Kullen offered $111 million for the building, which if approved by owners, would’ve been Chicago’s most expensive de-conversion deal to date. In order for such a deal to be approved, 75 percent of condo owners much approve the offer under Illinois law, and the final vote of 74.6 percent came up just short.

Also noted by Crain’s, ESG’s offer would’ve paid owners close to $410 per square foot, which is quite an increase from the roughly $300 per square foot some units inside the building sold for most recently.

Condo building de-conversions in

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