A major development could be coming to the South Loop’s riverfront location.  Unveiled in mid-September before the Chicago Plan Commission, the proposal could include transforming what’s now a vacant riverfront property into a major new development.

The property involved is just south of River City.  As part of a joint venture between CMK of Chicago and Lend Lease of Australia, CMK Properties has already purchased most of the vacant land between Roosevelt Road and Harrison Street along the South Branch of the Chicago River.  This happened with three transactions last winter, and the proposal is for a mega-development called River South.

At the time of the land purchase, Perkins+Will, a Chicago architecture firm, was hired on to lead the project’s planning…

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In case you haven’t heard, Wicker Park, Bucktown, and the Ukrainian Village neighborhoods are red hot right now and listings here are selling faster than anywhere else in the city. If you're looking for new construction development, there's plenty of high-end single-family options, but condos here are also extraordinarily popular.

If perhaps your budget only allows for an attached living space, you'll find a pretty nice variety of both lofts, vintage condos and even newly developed condo residences all throughout the area. But if you've already scanned the west side inventory and only want to browse what's brand new to the market, here's a look at all the newest listings that just came to market!

NEW CONDO LISTINGS IN BUCKTOWN, WICKER PARK,…

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Already the home of a number of new projects, Chicago’s famed Millennium Mile may be slated to receive at least one more.  The stretch of Michigan Avenue between Millennium Park and the Chicago River is gaining new ground with a proposal from an established developer.

BJB Partners of Park Ridge is interested in building a new mixed-use tower along this popular stretch of Downtown Chicago.  The proposed 41-story tower is slated to go in just to the south of the Millennium Park Plaza tower and across the street from Millennium Park.  

While that tower already includes apartments, BJB Partners wants to construct a new tower blending hotel rooms and residences.  At this point, it’s not clear whether those residences will include rental apartments or…

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If you’re looking for a quick synopsis of how Chicago’s real estate market is faring, we can probably sum it accordingly: home and condo prices are up, selling times are down, and inventory is still low in many of the city’s hottest neighborhoods.

As for current home prices in Chicago, the median sales price of For Sale properties jumped 9% from June 2014 to June 2015 and is currently at $238,900, while new construction properties had a much more significant jump, increasing by 20% from $429,000 to $495,000 over that same time period.

The luxury market is also holding strong in Chicago, which is classified as homes over $1 million. In 2014, 983 luxury homes were sold over the first and second quarters, while this year, 1,162 luxury homes have sold over…

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According to a recent report from Crain’s, a new 41-story residential/hotel tower could soon be coming to a prominent location along North Michigan Avenue, just across the street from Millennium Park. Being proposed by Park Ridge-based BJB Partners, the high-rise would occupy a small parcel just south of the Millennium Park Plaza apartment building at Michigan Avenue and Randolph.

As of now, specific details about the project haven’t exactly been made clear, other than the tower would include both a hotel and 74 residential units. Initially, the developer proposed a full fledge rental tower for the building site, which is located at 151 N. Michigan Avenue, but with Millennium Park and the now-completed Maggie Daley Park continuing to draw an abundance…

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Everyday is a new day in the Chicago real estate industry, and like many other aspects of life, some days are good, other days are bad. The fun days usually involve an influx of exciting or dynamic new listings to hit the market, while the not-so-fun days are when nothing really happens and it’s just another day at the office.  

As someone who’s always keeping an eye on the market, market conditions, and what’s popping on and off the market, checking out some of downtown Chicago’s newest and freshest listings to hit the MLS is a pretty routine task, not to mention one of the best parts about working in real estate. Getting a glimpse inside some of the Windy City’s coolest homes, condos or lofts to hit the open market never seems to get old, regardless of…

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Chicago New Construction Real Estate

Those of us already living in Chicago know full well that new construction development is very active around town, and actually has been for quite some time. But what many of us probably don’t realize is just how much the new construction industry has bounced back since the real estate downturn that started back in 2008.

Well, according to a recent report from the U.S. Census Bureau, things are starting to become much more clearer, as housing starts around the country are at their highest level in roughly eight years, making it the strongest new construction market since 2007.

As noted in the report, single-family home construction has been especially strong in 2015, but worth noting is that the number of permits also seems to be on the decline,…

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August Events in ChicagoFrom family fun to high-flying adventures, there is plenty to do around Downtown Chicago.

Windy City Rubber Ducky Derby:  August 6
Chicago River/Columbus Drive Bridge

Have some great family fun, plus help support a great cause when you come out to the Windy City Rubber Ducky Derby.  Participants will launch more than 50,000 rubber ducks into the Chicago River, then watch them race to the finish.  Proceeds benefit Special Olympics Illinois.  

Bud Billiken Parade:  August 8
Bronzeville Neighborhood to Washington Park

August 8 kicks off the largest and oldest African American parade in the entire nation.  The parade begins at 10am, ending with food vendors and a picnic in Washington Park.  Every year the parade brings together a mix of celebrities, lawmakers,…

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Home prices around the country have increased in 2015 and the Chicagoland area is certainly seeing a similar trend. According to CoreLogic’s June 2015 Home Price Index, home prices in the area, including distressed sales, have increased by over 3% year-over-year, and by roughly 4.3% excluding distressed sales.

Although 3-4% is a nice jump, the Chicago-Naperville-Arlington Heights area is still seeing a lower percentage than the national average of 6.5% with distressed sales, and 6.4% without.

Pent up demand, higher consumer confidence, and job growth in many parts of the country have industry professionals believing home prices will continue to increase though 2016, albeit at somewhat of a slower rate.

And with interest rates also expected to rise

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