New McDonald's Campus Expected to Encourage More West Loop Development Moving Forward
Posted by Helaine Cohen on
Construction permits have reportedly been issued for the new McDonald’s headquarters in the West Loop, which will no doubt continue to transform the neighborhood even more so than the current development boom we’ve seen over the past few years.Â
The McDonald’s project will span roughly a block wide and occupy the former Harpo Studios site, which was demolished earliest this year to make way for the new loft-like corporate campus that will now be home to one of the biggest players in fast food.Â
Even with construction just getting started, the magnitude of the project is already being felt by both developers and anybody already living in the West Loop. Last month, renderings were released for a 50-unit condo project that is already being…
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Millennium Park is located near the New East Side and the Lakeshore East communities just steps from the Loop’s financial district. With Millennium Park being a 24.5-acre park and lakefront cultural venue that has become one of the most significant projects in the world thanks to its fascinating structures, living close by certainly has its advantages. Developed as part of a unique partnership between the City of Chicago and the philanthropic community, Millennium Park is a state-of-the-art collection of world-class sculptures, musical venues, and landscape design that makes it especially appealing in the summertime.
The month of September is now in the books, which means numbers are just now starting to be released regarding how the market fared last month. According to Redfin, the Near North Side saw the highest number of sales in September, tallying 261 sales overall, which is good enough to be a 5.24% increase compared to a year prior.
More than 50 luxury condos could be going in next door to the new McDonald’s Headquarters in the West Loop under a proposal just unveiled to nearby neighbors. The two, nearly identical buildings are slated for 19 N May Street and 1111 W Washington Boulevard as the massive McDonald’s corporate headquarters is going in where Oprah’s Harpo TV Studios once stood.
When it comes to buying and selling condos in Chicago there are certain neighborhoods taking a larger share of the market. Based on research provided by Redfin, a real estate brokerage offering up online information about selling, buying and owning a home, the largest number of condo and townhome sales came from the Near North Side.
While certain cities around the world could be at risk of another housing bubble it appears Chicago will be spared this time around. A recent report compiled by Swiss Bank UBS looked at 18 cities from Vancouver to Singapore and even New York, with Chicago coming in at the very bottom, the only city on the list found to have undervalued homes.
In case you haven't noticed, temperatures have already started to cool down here in downtown Chicago, and the leaves are finally beginning to change color. Although it's impossible not to love summertime in Chicago, the autumn season also brings about plenty of fun-filled events and festivals that are worth checking out. So with the month of October right around the corner, it's time to take a closer look at what's happening around town next month!
Increasing home prices in Chicago mark some of the highest increases in the country. That’s according to the most recent S & P Case-Shiller Home Price Indices released for the period of June to July of this year. According to the report, the Chicago area came in at number two when it comes to the nation’s strongest monthly increases, trailing only behind Portland.