If you’re in the market for an apartment, you’ll soon have thousands of more to choose from in Downtown Chicago.  Developers plan to complete 4,000 additional apartments in the area in 2015, plus nearly another 5,000 next year.  According to researchers, the nearly 9,000 additional apartments will boost supply by about 28-percent.

While that may seem like positive new for renters experiencing regular hikes in rent, it may not necessarily translate to better deals.  It’s expected the increased supply will test whether demand for apartments can keep up.  Already, though, some predict that demand will only increase over the next couple of years, due to the area’s strong job market and a lack of buying options.

Rents have continued to rise, even as developers…

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Cash sales continue a downward trend in Chicago, similar to pace with the rest of the country.  According to a newly released report from CoreLogic, real estate cash sales were down to 36.4-percent, nationwide, in October.  As for Chicago cash sales, they made up 29.3-percent of total sales in the city during the same time period.

That’s down about four-percent from the previous year.  It’s expected that cash sales will continue to steadily decline, putting Chicago cash sales in line to hit the 25-percent mark ahead of the nation, when taken as a whole.

The 25-percent standard is the “healthy standard”, which was set in regards to cash transactions prior to the 2007 real estate downturn.  It’s expected that total shares of cash sales nationwide will return…

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Things to Do in Chicago in February 2016

It may be technically winter outside but you’ll find plenty of options to warm your heart and your spirit this February in Chicago.

Chicago Restaurant Week- Through February 4

If you haven’t hit Chicago Restaurant Week yet, you still have time!  This year the event is packed with dining deals from more than 350 of Chicago’s best restaurants. 

Mardi Gras Crawl- February 6 at Navy Pier

 Tapped the world’s largest indoor bar crawl, the Mardi Gras Crawl at Navy Pier features a full six hours of drinks, food and entertainment.  The crawl takes partygoers to eight bars with plenty of specials along the way.

Chicago Theatre Week- February 11-21

Next up, celebrate the city’s theatre scene with the annual Chicago Theatre Week.  This year you…

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Tickets are on sale right now to experience some of the city’s most imaginative and spectacular live productions.  Chicago Theatre Week officially kicks off on February 11, an annual tradition for both locals and visitors.

Now in its fourth year, the ten-day event includes your choice of more than 100 productions.  Chicago Theatre Week is not only a time to revisit some of your favorite theatres, but also sample new shows and productions that you perhaps have never seen before.

With tickets priced at either $15 or $30, Chicago Theatre Week is brought to life as part of a partnership between League of Chicago Theatres and Choose Chicago.  In conjunction with the event, select hotels, restaurants and transportation options are also offering deals…

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The Parker Condos Lincoln Park

If you’re in the market for a new home, you’ll soon have the choice of dozens of new condos in Lincoln Park.  A new development aims to construct 53 condo units, lining both sides of North Ashland Avenue, around the 2700 block.

Rather than a huge single complex, though, this development will include separate structures of between two and six flats on each of the 18 available lots.  Priced in the range of $499,000 for a two-bedroom unit of 1,450 square feet, up to around $839,000 for a large three-bedroom unit of up to 2,760 square feet, the development aims to give the area a more modern lift with new possibilities in new construction homes.

Building is already underway to produce one of the area’s largest and active developments.  Named The…

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Waldorf Astoria Condos For Sale

Once home to the richest person in Illinois, a condominium in the luxurious Waldorf Astoria now has a new owner.  Ken Griffin reportedly just sold his 46th floor unit at 11 E Walton for $16 million.  That’s the same price Griffin paid for the full-floor condo in 2014 and keeps the home within the top ten when it comes to highest priced home sales in the city.

Because the expansive unit was never publicly listed there are few details about the property, even the square footage that it commands.  The new owner has not been revealed either, though Griffin reportedly still maintains another unit himself on the 37th floor of the building, also a full-floor condo.  That unit was purchased for $13.3 million, also in 2014.

Ken Griffin, the founder and…

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Wolf Point West Apartments

Although construction for the fabulous new Wolf Point West Tower started around two years ago, it seems like only yesterday this dynamic new project was announced. Now fast forward to January 2016 and the highly-anticipated tower at 343 Wolf Point Plaza is finally set to make its debut.

Designed by Chicago-based bKL Architecture, the 48-story Wolf Point West tower is just one of three towers planned for the Wolf Point site, which occupies a premium spot right on the Chicago River.

Inside, Wolf Point West features a whopping 509 spectacular apartment residences that range from studio to spacious three bedroom layouts. Like many new construction rental towers in downtown Chicago, interior finishes at Wolf Point West lean towards the higher-end side, while…

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1000 S. Michigan Condos & Apartments

Back in September, plans for a new 86-story tower in the South Loop were revealed, bringing excitement to both those of us in the real estate industry and those who just want to see another supertall skyscraper added to Chicago’s already iconic skyline.

If plans move forward for Helmut Jahn's original design, the new South Loop apartment/condo combination tower will stretch 1,001 feet high, or a height that’s right on par with a couple other new developments in the works like Jeanne Gang's proposed Vista Tower in Lake Shore East and Rafael Viñoly's 76-story project slated for 113 E. Roosevelt.

However, reports are now surfacing about a change in both the design and height of Helmut Jahn’s latest creation, bringing the future tower down to a final height…

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A proposal to construct Chicago’s third tallest tower is one step closer to reality.  The Chicago Plan Commission recently cleared the way for the Wanda Vista Tower, proposed for the New Eastside.  Located along East Wacker Drive, the massive development is expected to face the Chicago River.

Housing 410 condominium homes and 210 hotel rooms, the tower is planned to stand 1,186 feet tall with 89 stories.  It’s also expected that the project will include some bars and restaurants.

If all goes through, that would surpass the Aon Center, currently the city’s third tallest tower.  With an exterior made up of varying shades of glass, the Wanda Vista Tower will actually include three towers of different heights, rising from east to west.

Jeanne Gang, of the Studio…

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Chicago Home BuyersWhen it comes to home sales for 2015 it seems that the suburbs, single-family residences and larger homes were all at the top of the wish list.  That’s according to nationwide data on home sales from January through late November.

Most buyers, 83 percent to be exact, chose to purchase single-family homes in 2015.  For a lot of people, though, it appears they were simply trading homes.  Only about 16 percent of buyers over the year purchased new construction homes.  That number has stayed relatively steady for the past several years.

It also turns out that more than half of home buyers settle in the suburbs.  According to nationwide research, 52 percent of home sales for 2015 were in the suburbs and just 14 percent were located in urban areas.  Another 20…

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