Brookfield
REAL ESTATE
Price plummets for Olympia Fields mansion previously home to Chicago celebrities
A majestic mansion in Chicago's south suburbs that previously served as the home of some of the city's biggest names has seen a massive price drop, just over six months after first being placed on the market. Originally listed for $3,499,000 in January 2024, the home is currently listed for...
Chicago's Luxury Real Estate Market Buzzes as Ken Griffin Lists Gold Coast Penthouse for $11M and Colin Cowherd Buys in Park Tower
Amidst a flurry of transactions shaking up Chicago's high-end real estate scene, billionaire hedge fund manager Ken Griffin has entered the spotlight once more by listing his lavish Gold Coast penthouse for a cool $11 million. The top-floor condo, situated on the 38th floor of 9 W. Walton Street, hit the market with the exclusive tag of never having been lived in by Griffin himself. According to the Chicago Tribune, the billionaire had acquired the top four floors of the building back in 2017 but opted to reside in another unit nearby at the Waldorf Astoria instead.
Chicago’s Habitat celebrates first wave of residents moving into OC Living
Chicago-based Habitat announced the first wave of residents have moved into OC Living, a new mixed-income property in Chicago’s North Lawndale neighborhood. Located at 1325 S. Washtenaw Ave., the first OC Living building within the $200 million Ogden Commons mixed-use project consists of 92 units, 90% of which are affordable apartments with the remainder market-rate.
Report: Housing is less affordable due to red tape in Illinois
A new report found that Illinois had the third-worst rate in the nation for building new housing units in 2023, with the main culprit being over regulation. Illinois Policy Institute found that government regulations account for nearly $70,000 of the $292,000 median home price in the state. Researcher Ravi Mishra...
Essex Realty Group Brokers Multifamily Portfolio Sale of Two Auburn Gresham Apartment Buildings in Chicago
Essex Realty Group, a leading Chicago based multifamily brokerage firm, is pleased to announce the closing of two multifamily properties located in Chicago’s South Side Auburn Gresham neighborhood. Both properties, located at 1401 W 80th and 7955 S Paulina, were sold to a private local investor for $1.6 million.
Chicago's Clybourn Corridor and Fulton Market to See Over 1,000 New Apartments After Plan Commission Approval
The fabric of Chicago's Clybourn Corridor and Fulton Market is set for a significant transformation as the Chicago Plan Commission approves the construction of over a thousand apartments, with two substantial development projects taking center stage. In a unanimous decision, high-rise residential buildings will soon rise in these bustling neighborhoods.
Edison Park Apartment Complex Approved Despite Pushback From Neighbors
EDISON PARK — An 82-unit apartment development is coming to Edison Park despite some pushback from neighbors. The City Council on Wednesday approved a request to rezone the property at 6750 N. Northwest Highway, the former M.J. Suerth Funeral Home. The rezoning allows developer Valdir Barion to construct two, four-story buildings, each with 41 apartments, 41 parking spaces and a courtyard.
Woodlawn resident alleges unjust foreclosure, gains neighborhood support
CHICAGO - Christiana Powell, a longtime resident of Woodlawn, claims her family was among the first to integrate the neighborhood. Now, she's embroiled in a battle to prevent what she alleges is an unjust foreclosure and eviction. Supporters, including neighbors and allies, have established a protest encampment in Powell's yard,...
Stream Realty Acquires 600K-SF Chicago Industrial Portfolio
Stream Realty Partners has acquired a four-building industrial portfolio totaling 599,988 square feet of Class A industrial space in the Chicago metro area. The assets include Asbury Drive, a 157,500-square-foot building located at 850 Asbury Drive in Buffalo Grove in the Lake County submarket; Rockwell Logistics Center, a 174,262-square-foot building located at 2545 W. 24th Street in Chicago in the City South submarket; and Mokena Logistics I and II, 268,226 square feet across two buildings located at 8965 and 8905 W. 187th Street in Mokena in the Joliet submarket. The portfolio is fully leased to seven tenants.
NAR Announces 12 Tech Startups for iOi Summit's Pitch Battle
CHICAGO (July 18, 2024) – The National Association of Realtors® has announced the 12 companies participating in the Innovation, Opportunity & Investment (iOi) Summit's Pitch Battle competition from August 28–29 in Chicago. NAR's venture capital arm, Second Century Ventures, is set to present the live event, where...
Illinois sales are increasing as inventory rises — but not in the city
Statewide home sales increased slightly during May, according to data from Illinois REALTORS®, but the increase in inventory was much starker. In May, 13,068 homes sold: a 0.2% bump from last year. At the same time, the number of homes on the market rose 2.1% year over year, hitting 18,295 available homes. During that period, the state’s monthly median price was $300,000, 9.1% higher than in May 2023.
Synagogue Apartment Building in Uptown Chicago Sell
Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the sale of The Synagogue, a 40-unit multifamily property at 5029 N. Kenmore Ave. in the city’s Uptown neighborhood, for $8.175 million, or $204,375 per unit. Constructed in 1922, the building is an adaptive reuse of a...
Fulton Market Transit-Oriented Development Would Bring 1,000 New Apartments, Retail
FULTON MARKET — A pair of developers want to bring two apartment buildings that would bring more than 1,000 new units to Fulton Market. JDL Development and Fulton Street Companies presented plans for the 1200 W. Fulton St. project at an online meeting Wednesday night organized by the West Central Association. It is one of several development proposals for the area, which for decades was off-limits for residential use.
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