Chicago Real Estate Blog - Helaine Cohen

A Closer Look at 101 North Near Old Town

Luxury abounds within the walls of 101 North.  This landmark location once housed The Village Theater and has now been intricately restored and renovated into a boutique condo building.

With ten stories, the reimagined 1916 building offers 32 residences, all custom designed and sized from around 2,600 to 3,400 square feet.  With open floor plans, the homes feature gourmet kitchens, elegant en-suite baths and private terraces.  As well, the homes are built for entertaining and include the addition of smart home technology.

Condo buyers have the opportunity to consult privately with an interior design firm, giving each home individual style.  As well, owners work with custom kitchen designers to outfit their homes with the finishes, style and layout that work…

1799 Views, 0 Comments

A Look at River North Lofts Currently Priced Over $1 Million

 Luxury abounds in the River North neighborhood, where a handful of exceptional lofts now top $1 million.

 (420 W Grand Ave)

With three bedrooms and 3.5 baths, a 7,900 square foot unit within 420 W Grand Avenue comes complete with wood flooring, exposed ceilings, and a floor-to-ceiling fireplace.  Priced at $2.89 million, the unit is part of a remodeled turn of-the-century building.

(900 N. Kingsbury Street)

Priced at $1.4 million, a unit within 900 N. Kingsbury Street includes a sensational wrap-around terrace, offering 1,400 square feet of additional outdoor living space, as well as breathtaking city and lake views.  Stepping inside, the loft-style unit includes walls of floor-to-ceiling windows.  In addition, the building offers a doorman,…

1565 Views, 0 Comments

Construction for 61 W. Erie Condos Moving Forward

Construction of a new River North condominium building is moving forward at 61 W. Erie.  A long time film processing company is being demolished to make room for the 12-story building.

LG Development Group is behind the project, bringing 10 high-end condo units to the area.  In February the developer asked the Zoning Board of Appeals to grant a special use permit to encompass the site’s projected 12 indoor parking stalls planned for the building’s ground floor.  While a decision on that has been passed off to April, the firm is forging ahead with its newly acquired demolition permit.

LG took over the project, originally planned by MCZ Development and revealed publicly in 2013.  At that time, the building included 10 stories, with zoning granted in…

1954 Views, 0 Comments

City Plans to Take Over Old Post Office Building in Downtown Chicago

The City of Chicago is one step closer to taking over the old abandoned post office along the riverfront.  Earlier this month Mayor Rahm Emanuel received support from the Community Development Commission to invoke power of eminent domain over the property.

The site has stood vacant since 1995.  It was sold to British-born developer Bill Davies in 2009 with the promise of a multi-billion dollar plan to repurpose the building and construct a number of high-rise towers.  The city gave its approval to that plan in 2013 but since that time no work has been done.

Due to a lack of any action being taken, plus the current state of the building, City Hall announced in February plans to take over the building itself and put it on a redevelopment path. …

2385 Views, 0 Comments

Chicago Ranked 43rd in the World on Mercer's Quality of Life Survey

While those of us who live in Chicago often find things to complain about, outsiders seem to think we have it pretty dang good. According to Mercer, the largest human resources consulting firm in the world, Chicago’s quality a life is certainly noteworthy in a positive way, and good enough to rank 43rd in the world on its 18th annual Quality of Life Survey.

In the survey, Mercer considers a wide range of living conditions while evaluating “quality of live,” which include schools and education, political and social environment, and public services and transportation.

In all, 440 cities worldwide were examined, so 43rd place doesn't seem all that bad. In fact, the only U.S. cities to outrank Chicago are San Francisco at No. 28, Boston at No. 34, and…

2006 Views, 0 Comments

Chicago Area Foreclosures at Lowest Level Since 2007

The Chicago real estate market has gone through some drastic changes over the last couple years. Most notably, high-end rentals around downtown Chicago have re-defined the housing landscape in neighborhoods like Streeterville, River North and The Loop.

But along with continued high-demand in the luxury rentals market, foreclosure activity around the Chicagoland area has diminished, yet another sign of a strong market only getting stronger.

According to the latest numbers from RealtyTrac, foreclosures in the Chicagoland area have now reached their lowest limit since 2007. In January, just 4,079 foreclosures were on the market in the entire Chicagoland region, which is down nearly 12% from just one month earlier in December.

And what’s even more…

1549 Views, 0 Comments

Chicago's Top Neighborhoods in Luxury Sales Over $1 Million

Over the early part of 2016, the Chicago real estate market has been thriving. Certain segments of the market like luxury rentals continue to be a major part of housing around downtown Chicago, but along with upscale apartments, luxury homes and condos for sale around the area have been flying off the shelves so-to-speak as well.

Recent stats were released earlier in the month that detail which of Chicago’s neighborhoods are seeing the most activity when it comes to luxury real estate. To the surprise of few, Lincoln Park is still leading the way up on the north side, with 16 sales already last month totaling over $1 million. And the average sales price of these homes? $2,181,642.19.

Equally as expected, the Near North Side is also seeing lots of luxury…

1536 Views, 0 Comments

New Condos Coming to Fulton River District

A select number of new condos are headed to the Fulton River District.  Construction is now underway on 836 W. Hubbard, a Ranquist Development with homes designed by Osterhaus McCarthy.

With a total of just eight units, the large homes will be priced starting at $750,000.  All of the homes will include three bedrooms and 2.5 baths.  The smallest unit will command 2,028 square feet of living space.  Three of the units will include 2,036 square feet of living space and the remaining four units will have 2,154 square feet of living space.  The development also includes rooftop terraces off the upper two units and a 12-space garage.

Expect to find such interior features as a mix of white oak wood flooring, carpeting and porcelain tile, as well as stainless…

1729 Views, 0 Comments

Downtown Residents May be Getting an Express Train to O’Hare

A plan to provide an express train from downtown to O’Hare appears to be back on track.  Mayor Rahm Emanuel recently announced the City of Chicago plans to push ahead with a final design for the project by hiring on an engineering firm.  The original plan dates back to former Mayor Richard Daley, but was never fully developed.

The proposal is gaining new life again, though, due to efforts by Mayor Emanuel and Aviation Commissioner Ginger Evans.  Although the cost of building an express train to the airport hasn’t been released, some predict it could cost $1 billion.  Evans reportedly hopes the project will be funded by, and operated by, private funds.

The aviation commissioner did put a price point, of sorts, on passenger service.  She expects it to cost…

1897 Views, 0 Comments

Chicago Condo Prices Rise Above 2008 Levels

Downtown Chicago condo prices are now rising above 2008 price levels.  According to a newly released report from Appraisal Research Counselors, the end of 2015 brought average prices to $421 per square foot.  That’s about 1.7-percent higher than 2008.

While the firm is forecasting some new development for 2016, new condo sales have remained quite modest over the past couple of years.  They totaled just 400 units sold in 2014 and another 415 sold in 2015.

Most new condo construction is now being tied to buildings also offering rental units.  One of these is One Bennett Park in Streeterville.  This luxury development is expected to offer peak market prices in both condos and rentals.  

While a limited amount of new condo construction is likely for the future,…

2133 Views, 0 Comments