Chicago Real Estate Blog

New Condos Coming to Lincoln Park on Ashland Avenue

If you’re in the market for a new home, you’ll soon have the choice of dozens of new condos in Lincoln Park.  A new development aims to construct 53 condo units, lining both sides of North Ashland Avenue, around the 2700 block.

Rather than a huge single complex, though, this development will include separate structures of between two and six flats on each of the 18 available lots.  Priced in the range of $499,000 for a two-bedroom unit of 1,450 square feet, up to around $839,000 for a large three-bedroom unit of up to 2,760 square feet, the development aims to give the area a more modern lift with new possibilities in new construction homes.

Building is already underway to produce one of the area’s largest and active developments.  Named The…

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Waldorf Astoria Condo Sells for $16 Million

Once home to the richest person in Illinois, a condominium in the luxurious Waldorf Astoria now has a new owner.  Ken Griffin reportedly just sold his 46th floor unit at 11 E Walton for $16 million.  That’s the same price Griffin paid for the full-floor condo in 2014 and keeps the home within the top ten when it comes to highest priced home sales in the city.

Because the expansive unit was never publicly listed there are few details about the property, even the square footage that it commands.  The new owner has not been revealed either, though Griffin reportedly still maintains another unit himself on the 37th floor of the building, also a full-floor condo.  That unit was purchased for $13.3 million, also in 2014.

Ken Griffin, the founder and…

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The Fabulous Wolf Point West Apartment Tower Makes Its Debut

Although construction for the fabulous new Wolf Point West Tower started around two years ago, it seems like only yesterday this dynamic new project was announced. Now fast forward to January 2016 and the highly-anticipated tower at 343 Wolf Point Plaza is finally set to make its debut.

Designed by Chicago-based bKL Architecture, the 48-story Wolf Point West tower is just one of three towers planned for the Wolf Point site, which occupies a premium spot right on the Chicago River.

Inside, Wolf Point West features a whopping 509 spectacular apartment residences that range from studio to spacious three bedroom layouts. Like many new construction rental towers in downtown Chicago, interior finishes at Wolf Point West lean towards the higher-end side, while…

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Changes in Design & Height in the Works For New 1000 S. Michigan Tower?

Back in September, plans for a new 86-story tower in the South Loop were revealed, bringing excitement to both those of us in the real estate industry and those who just want to see another supertall skyscraper added to Chicago’s already iconic skyline.

If plans move forward for Helmut Jahn's original design, the new South Loop apartment/condo combination tower will stretch 1,001 feet high, or a height that’s right on par with a couple other new developments in the works like Jeanne Gang's proposed Vista Tower in Lake Shore East and Rafael Viñoly's 76-story project slated for 113 E. Roosevelt.

However, reports are now surfacing about a change in both the design and height of Helmut Jahn’s latest creation, bringing the future tower down to a final height…

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Wanda Vista Tower Moves Closer to Development

A proposal to construct Chicago’s third tallest tower is one step closer to reality.  The Chicago Plan Commission recently cleared the way for the Wanda Vista Tower, proposed for the New Eastside.  Located along East Wacker Drive, the massive development is expected to face the Chicago River.

Housing 410 condominium homes and 210 hotel rooms, the tower is planned to stand 1,186 feet tall with 89 stories.  It’s also expected that the project will include some bars and restaurants.

If all goes through, that would surpass the Aon Center, currently the city’s third tallest tower.  With an exterior made up of varying shades of glass, the Wanda Vista Tower will actually include three towers of different heights, rising from east to west.

Jeanne Gang, of the Studio…

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MARKET UPDATE: Home Buyer Activity in 2015

When it comes to home sales for 2015 it seems that the suburbs, single-family residences and larger homes were all at the top of the wish list.  That’s according to nationwide data on home sales from January through late November.

Most buyers, 83 percent to be exact, chose to purchase single-family homes in 2015.  For a lot of people, though, it appears they were simply trading homes.  Only about 16 percent of buyers over the year purchased new construction homes.  That number has stayed relatively steady for the past several years.

It also turns out that more than half of home buyers settle in the suburbs.  According to nationwide research, 52 percent of home sales for 2015 were in the suburbs and just 14 percent were located in urban areas.  Another 20…

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Permits for New Navy Pier Ferris Wheel Issued

The Navy Pier’s newest Ferris wheel has the green light from the City of Chicago.  This means the current Ferris wheel can come down to make way for a larger one.   The newly issued permits include replacing the Ferris wheel with a new one, plus installing a new loading deck, new canopy and landscaping.

It’s expected that the new Ferris wheel will be about 50-feet taller than its predecessor, with 42, temperature-controlled carriages.  The new and improved Ferris wheel is part of a plan to help celebrate the 100th birthday of the Navy Pier in summer 2016.  The most popular of all tourist attractions in the entire State of Illinois, in 2014 alone, an estimated 8.5 million people visited Navy Pier.

As well, the Pier itself will also soon undergo a number of…

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The Venetian Chicago: High-Rise Living in Old Town

Chicago offers some of the best in high-rise living anywhere, and the Venetian of Old Town is among the most favored given its optimal location and fabulous living spaces.  Located at 230 W Division, this grand building includes a total of 88 residential units over its 16 floors, allowing for plenty of attractive opportunities for anybody who may be looking for that highly-sought after high-rise lifestyle here in the heart of Old Town.

As one of the largest condo developments in Old Town, The Venetian offers a number of different floor plans, including deeded parking for the convenience of residents.  Constructed in 2004, the homes also offer hardwood flooring, private balconies, top graded stainless steel appliances and some built-ins as well.…

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$3 Billion Residential Project Possibly Coming to the South Loop

A massive new residential project is planned for the South Loop.  If it all goes through, the $3 billion Gateway project is expected to include thousands of new residential units for the Chicago area, mostly condominium homes.  The project by Chicago developer Gerald Fogelson is planned to be constructed over the train tracks sitting near the Field Museum and Soldier Field.

It is expected that the development will include 3,000 condos plus around an additional 500 hotel rooms.  Right now few details have been released about the homes.  Reportedly, though, the units will include unobstructed north and east views.  This area is located on the western side of Lake Shore Drive, between McCormick Place and Roosevelt Road.

Right now the developer, along with…

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1400 S Michigan - One of the South Loop’s Most Luxurious Condo Buildings

Known for its grand finishes and abundant features, 1400 S. Michigan maintains its status as one of the most luxurious condo buildings available in Chicago’s South Loop.  This exquisite building was completed in 2008, with varying floor plans ranging from impressively appointed studios to spacious, four-bedroom penthouses with all the bells and whistles.  All units within Michigan Avenue Tower II feature nine-foot ceilings, floor-to-ceiling windows, private balconies and hardwood flooring.

The tower also includes a 24-hour doorman, an outdoor swimming pool with sundeck, an exercise room and more.  As well, the building also includes a clubroom for residents to rent out for private use.  In addition, the tower is just steps away from some of Chicago’s most…

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