Summarizing Only a Fraction of the New High-Rises Currently Under Construction Around Downtown Chicago
Posted by Helaine Cohen on
If you haven’t noticed all the cranes scattered around the Chicago skyline in 2016, chances are you’ve been living under a rock. After a slow climb out of the most recent housing downturn, new construction made a huge comeback around downtown Chicago over the last 12 months, especially when it comes to large-scale high-rise developments right in the heart of the city.
Just recently, the Chicago Tribune summarized what’s currently still coming through the pipeline, which if you haven’t been paying attention, is a whole lot of new additions to the Windy City’s already broad skyline. Here’s a quick look at some of the residential high-rise developments currently underway in Chicago’s most sought-after neighborhoods:
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As we inch closer to 2017, new construction condos in Chicago are still lacking somewhat from an inventory standpoint; but if you’re looking for a unique opportunity in a boutique building-setting, there are still several opportunities available at The Stanton.
According to recently released numbers from the Illinois Association of REALTORS®, home sales all throughout the Chicago area saw significant gains in November compared to this year. It the entire 9-county region, the market saw just under 7,000 sales last month, which is up a jaw-dropping 16% compared to November 2015.
If you’re thinking about buying a Chicago condo soon, there’s certainly much more to consider than just location and price. As a Chicago condo specialist, my team and I help so many buyers each and every year find a condominium residence that fits the needs and wants of each individual buyer, which also means walking them through the process of determining what makes each potential unit a savvy investment. So before signing on the dotted line, here are a few things to keep in mind when buying a condo in Chicago:
A new proposal recently made headlines that could possibly bring 252 new apartments to Chicago’s highly-coveted Old Town neighborhood. According to a recent report from Curbed, the Chicago Plan Commission has approved a new, large-scale development that would ultimately replace Old Town’s Noble Horse Theatre if built.
One Bennett Park is easily one of downtown Chicago’s most high-profile buildings to be announced since the latest construction boom started a couple years ago. Being developed by Related Midwest, there’s hardly a more elegant high-rise currently in the pipeline than One Bennett Park, which is just one of many reasons why it’s so highly-anticipated.
Reports have recently surfaced that detail another condo development possibly coming to River North, this time over at the southwest corner of Wells and Ontario. Currently, Carson’s Ribs occupies the site, however, if developers move forward with the project, the existing building and the adjacent parking lot would be replaced by the contemporary new condo tower, which could potentially include 31 luxury condo residences.
No. 9 W. Walton is one of downtown Chicago’s most high-profile developments under construction right now, and according to a new listing that was just added to the MLS, unit #1603, the building is already almost sold out.
Earlier in the month, a new condo project dubbed The West Loop Collection officially hit the MLS, giving potential buyers a first look at what could be some of the most luxurious condo units to be developed in this part of town in quite some time. But not to be outdone another boutique building in the works over at 1000 W. Monroe in the West Loop has also apparently started pre-sales, which could potentially bring another small batch of larger three-bedroom condo residences to market sooner rather than later.
While development around downtown Chicago has been widespread throughout much of 2016, new projects are also continuing to pop up around Lincoln Park as well. Most recently, a new mixed-use development called Elevate is grabbing the attention of area residents, which will include 191 new apartment residences, 16,300 square feet of ground level retail space, and parking for 138 vehicles once fully finished.