Chicago Real Estate Blog - Helaine Cohen

Final Construction Permits Issued For Chicago's Vista Tower Development

One of downtown Chicago’s most anticipated new high-rise developments in recent memory is now one step closer to coming to fruition, as reports have recently surfaced that detail the status of its construction permits. 

Although construction for the new Vista Tower project is already well underway, Curbed Chicago is reporting that the city has officially granted all of the building's remaining permits, which of course will allow development to continue until the 95-story tower is finished in 2020. 

In case you’ve been living under a rock for the past year or so, Vista Tower is easily one of the city’s highest profile developments currently in the works, which says a lot given 50+ high-rises are already under construction around the downtown area. 

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Lack of Inventory Continues to Impact Home Sales Pace, Home Prices

If you haven’t noticed, declining inventory has been a fairly significant problem facing the housing market, not only in the Chicago area but also all around the country as well. 

Last month, a shortage of homes for sale continued to impact home sales nationwide, according to recently released numbers from the National Association of Realtors (NAR). The good news, however, is that available inventory is finally starting to grow, although at a much slower pace than many active home buyers would like. 

At the end of April, supply was up 7.2% overall and reached 1.93 million existing homes for sale, but given the median days on market dropped to just 29 days—a new low—it’s clear even a 7 percent jump in inventory still isn’t keeping pace with…

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Luxury Condos at 61 W. Erie Hit the MLS

A small, 10-unit condo development in Chicago’s River North neighborhood has quietly hit the MLS. Located at 61 W. Erie, this fabulous new structure will feature 10 ultra luxurious condo residences, which will be divided into 9 simplex units with around 2,900 square feet of living space, and 1 additional duplex penthouse with four separate outdoor spaces and perhaps the largest private outdoor terrace in all of downtown Chicago. 

Each of the 9 simplex condos at 61 W. Erie occupy an entire floor, not to mention all have private elevator access as well. Inside, 61 W. Erie condos for sale boast huge floor-to-ceiling windows, top-of-the-line kitchen and bathroom finishes, and absolutely spectacular panoramic views of River North and the surrounding…

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What $4,000 Currently Rents in River North

There’s no denying that every part of downtown Chicago features insane luxury rentals that will no doubt leave you speechless for a wide variety of reasons. Whether it’s the picturesque views of Lake Michigan and the broad downtown skyline or all those luxury finishes found throughout some of the city’s most expensive apartments, Chicago’s high-end rental market is certainly among the most active of any major city in the country.

But if you’re somebody who’s out there and truly wants the ultimate downtown apartment, some might say your search will begin and likely end in Chicago’s one-and-only River North neighborhood. Home to a bustling nightlife scene, some of the best restaurants in town, and of course all sorts of shopping, entertainment, and…

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REPORT: The Parker 60614 Condo Project Has Come to a Halt

New reports have surfaced about an update regarding the new Lincoln Park condo developed dubbed ‘The Parker 60614’ and it appears as if the stalled project could be coming to a permanent halt—at least by the original developer of the project, C3. 

The Parker 60614 was originally unveiled back in early 2016 and construction had even begin on a number of the 53 condo residences, although according to Curbed, sales for the project have been underwhelming to this point, promoting C3 to put much of the development site back on the market. 

The parcel that’s being listed will still be approved for 32 condo residences and is currently asking $8.7 million. As mentioned above, C3’s original plan for The Parker 60614 was to feature 53 units in all, which…

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20-Story Tower Revealed For 166 N. Aberdeen in the West Loop

A spectacular new proposal has been unveiled for 166 N. Aberdeen over in the West Loop. Being planned by MCZ Development, the project, if approved, would include 236 apartments and an additional 5,000 square feet of commercial space that would be divided between the Aberdeen and May Street frontages. 

As a transit-oriented development that’s just blocks from the Morgan CTA stop, the new apartment tower at 166 N. Aberdeen would only include 84 parking spaces as its currently configured, which would all occupy the building’s first two levels. 

The design, which blends in very well with the West Loop’s surrounding landscape, is from Chicago-based Solomon Cordwell Buenz and can be seen in the rendering featured on this page.  

For additional…

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Start Searching Newer Construction Apartments in Downtown Chicago

The apartment market around Chicago over the past couple years has been bustling to say the least, and it seems like just about every other day a new large-scale project is revealed for one part of the city or another. 

But despite thousands of new units expected to be delivered again in 2017, demand for new construction apartments around downtown Chicago still remains strong, even despite concerns of over saturation eventually catching up to the market. 

Featured below are active newer construction apartments for rent that are all situated in some of downtown Chicago’s hottest neighborhoods. From the South Loop up to the Gold Coast, and from the lakefront over to the West Loop, if it’s a newer construction apartment you want, you’ll find it…

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Just One Chicago ZIP Code Listed in Top 10 Most Expensive Illinois ZIP Codes in 2016

A recent analysis from real estate research firm Property Shark, just one Chicago ZIP code made the list of Illinois’ most expensive ZIP codes in 2016. 

Not surprisingly, North Shore ZIP codes 60043 (Kenilworth), 60093 (Winnetka), and 60022 (Glencoe) were listed as the top three most expensive ZIP codes in the state, followed by 60521 (Hinsdale) and 60045 (Lake Forest) to round out the top five. 

In somewhat of a surprising outcome, ranking No. 6 overall was 60603 (Loop), which edged out other highly sought-after neighborhoods like River North, Old Town, and the Gold Coast. 

Other noteworthy Chicago ZIP codes to make the Top 50 included 60614 (No. 12), 60622 (No. 19), 60601 (No. 24),  60654 (No. 26), and 60642 (No. 27). 

For a complete list…

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What $600,000 Buys in the West Loop Right Now

The West Loop is arguably the hottest neighborhood in Chicago right now. Along with having some of the coolest living spaces in the city, it’s also a hotbed for fancy restaurants and on-going development that’s continuing to transform the neighborhood right before our very eyes. 

Just recently, the 10-story 1K Fulton building adding 531,194 square feet of office space to the Fulton Market/West Loop area, and construction is already well underway for the new McDonald’s headquarters, which will reportedly include 500,000 square feet of office space of its own.

But with so much happening around the West Loop community, demand for housing in the area has also skyrocketed in recent months and years, leaving limited opportunities for potential home and…

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March Home Sales at Highest Level Since the Crash

According to new data from the National Association of Realtors, March was the strongest month for home sales since the housing crash that started back around 2008. The final tally of homes sold last month was recored at 5.71 million, which represents the highest total since all the way back in February of 2007 when 5.79 million homes were sold. 

Last month’s sales volume was also up 4.4% compared to February’s total, and around 6% compared to March of 2016. In addition to more homes being sold, available inventory was also on the rise last month, increasing by 6% to 1.83 million available homes compared to the end of February. 

Despite some relief in inventory, however, the number of available homes overall is still 7% lower than this same time…

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