Franklin Park
REAL ESTATE
4 Illinois Cities Ranked In America’s “Safest And Richest” Places To Live List
We all know some towns are just better to be in than others. It's always fun to go to the towns and neighborhoods that are very safe and loaded. These are the places that can do hayrides through the street on Halloween and the houses hand out full-size candy bars.
850 N. Lake Shore Drive, Residence 708, Chicago, IL 60611
Located in a beautifully restored historic building along Chicago’s lakefront, this spacious two-bedroom home seamlessly merges classic elegance with modern luxury. Residence 708 features a large den, soaring 11-foot ceilings, brand-new stainless steel Bosch kitchen appliances and a Whirlpool washer and dryer. Beyond the refined interiors, the building offers...
OP housing trust fund applications are open
Oak Park is accepting applications on a rolling basis for housing trust fund dollars, the intention of which is to provide and preserve affordable housing in the village. The total balance of the trust fund is about $1,950,000, village officials told Wednesday Journal. When funds are exhausted, any remaining applicants will be placed on a waiting list, village officials said, and the village board could decide if and how to fund additional projects.
Frank Lloyd Wright’s George Smith House revived
Frank Lloyd Wright’s George Smith House, located at 404 Home Avenue in Oak Park, was in need of saving in January 2023. Built in 1898, the Shingle-style home had been in the same family for 60 years, and need some updates and maintenance to make it shine. When it was listed for sale for $595,000, Barbara Gordon and John Waters from the Frank Lloyd Wright Building Conservancy visited the home and offered renderings of what the home could look like if the next owner spruced it up.
FHLBank Chicago Launches $300 Million LIHTC Collateral Pilot Program
The Federal Home Loan Bank of Chicago has announced its new Low-Income Housing Tax Credit (LIHTC) Collateral Pilot Program, which will provide members with increased lendable value on their pledged collateral for up to $300 million of qualifying mortgage loans on housing credit projects. Through member banks, credit unions, insurance...
Goose Island Project Site Listed for Sale
The owners of a former lumberyard on Goose Island are offering the land for sale, a move that calls into question Hines’ long-standing plans to build Chicago’s first mass timber building on the site. CBRE is marketing the 2.1-acre site at 1017 W. Division St., a former lumberyard,...
Lendlease Achieves Stabilization at The Reed at Southbank in Chicago’s South Loop
Lendlease, a leading integrated real estate group, announced the stabilization of the apartments at The Reed at Southbank, the firm’s 41-story residential tower at 234 W. Polk Street in Chicago’s South Loop neighborhood. The Reed at Southbank includes 226 apartments in a mix of studio, convertible, one-, two-...
Interra Realty Closes 3 Multifamily Sales on School Street, Northwest Highway, and Altgeld Street in Chicago Totaling $6.795M
Interra Realty, a Chicago-based commercial real estate investment services firm, announced it brokered the sale of three apartment buildings in Chicago. The properties, comprising 36 units in total, were sold in three separate transactions for a combined $6.795 million. The properties are located on School Street, Northwest Highway, and Altgeld Street.
Illinois home sales, inventory and median prices all increased in July
Home sales, available homes and median home prices all rose across the state in July, according to new data from Illinois REALTORS®. Last month, Illinois home sales rose 6.2% year over year with 13,114 homes sold. Inventory rose similarly, by 6.3%, with 19,494 homes on the market. At the same time, the median sales price hit $308,000: an 8.1% bump.
JLL Arranged the $31M Construction Loan for a New Multifamily Community on Fremont Street in Chicago’s Lincoln Park Neighborhood
JLL Capital Markets announced that it has arranged a $31 million construction loan in the form of a participating mortgage for the development of 1529 N Fremont Street, a 132-unit, fully entitled multifamily development in Chicago’s Lincoln Park neighborhood. JLL worked on behalf of the borrowers, CityPads and Wayland...
Interra Realty brokers sale of five-building multifamily portfolio in Mount Prospect
Interra Realty brokered the sale of a five-building, 30-unit multifamily portfolio in Mount Prospect, Illinois, a suburb of Chicago. The properties were sold to undisclosed local buyers in two separate deals, totaling $4.29 million. Interra Managing Partner Patrick Kennelly, Managing Director Paul Waterloo and Associate Nathan Zito represented the confidential...
Charles El-Moussa’s confirmed as new MRED general counsel
Midwest Real Estate Data (MRED) has appointed Charles El-Moussa to the position of general counsel, effective immediately. In that role, he’ll provide legal guidance to MRED’s ongoing strategic discussions amid the changing real estate landscape. In addition to working with MRED’s current legal firm Greenberg Traurig on existing...
Hernandez Development Opens New Self-Storage in Carol Stream
Hernandez Development has unveiled a new Class A self-storage facility in Carol Stream, Illinois. The development is set on a 2.71-acre site along North Avenue, bringing much-needed climate-controlled storage solutions to the area. The new facility will feature a modern three-story building along with an additional one-story structure, offering a combined 72,860 net rentable square feet.
Mike Larson and Colby Price join Jameson Sotheby’s International Realty
Two new agents have joined Jameson Sotheby’s International Realty (JSIR): Mike Larson and Colby Price. Larson, who covers Chicago and Lake Geneva, quickly made a name for himself after launching his real estate career at Gold Coast Realty in 2015. Since then, he’s completed over $50 million in total sales and rental volume and broke the city-wide record for the fastest leased building.
Kale Realty adds Alison Swedenberg-Suarez as assistant managing broker
Alison “Ali” Swedenberg-Suarez has joined Kale Realty as the new assistant managing broker. She has nearly a decade of experience in the real estate industry. In the her new position at Kale Realty, Swedenberg-Suarez will develop the firm’s New to the Business Agent Development Program, as well as its Transaction Coach and Mentoring Program. Additionally, she help with training, client relations, and strategic planning, working closely with the entire leadership team, and create customized marketing campaigns.
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