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REAL ESTATE
Howard housing development may feature 40 affordable family units
City officials shared details on the timeline and potential results of a planned affordable housing development on Howard Street at the Eighth Ward meeting Thursday, along with a proposal for designating Evanston’s only public art wall. The city has owned property at 727 Howard St. since 2003. Since then...
South suburban residents not pleased at all with record-high property taxes
DIXMOOR, Ill. (CBS) -- Record-high property taxes are hitting homeowners in the south suburbs of Chicago—after a reassessment was conducted in those communities.Some property owners in south suburban Dixmoor are going to see their tax bill more than double—and those residents are beyond frustrated."It's pricing everyone out of their homes right now," said Corey Campbell.Campbell has owned his house in Dixmoor for the past four years. He said homeownership has been a joy, but the costs that come with it most assuredly are not."I went couple years ago with a couple thousand extra in my pocket a month—now it's down...
Housing committee hears plenty of debate on Just Cause proposal
The city’s Housing and Community Development Committee took another crack at a proposal to require “Just Cause” for residential lease nonrenewals at a special meeting Tuesday, but will still need at least one more meeting to wrap deliberations on that proposal and several others. Two-and-a-half hours of...
Downtown prices are growing slowly across the Midwest — and have decreased in Chicago
Downtown property prices in the Midwest are growing at significantly slower rates than other sections of those cities. And that’s especially true in Chicago. A recent study by PropertyShark isolated price growth in American downtowns from the past decade to determine that, overall, downtown property appreciation has been outpaced by cities at large. This was true in 31 of the country’s 40 largest cities. For context, 10 years ago, that was the case in just nine cities.
Interra Realty Brokers $9.3 Million Sale of 114-Unit Multifamily Portfolio in Chicago’s South Shore and Woodlawn Neighborhoods
CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the sale of a three-building, 114-unit multifamily portfolio on the city’s South Side for $9.3 million, or $81,578 per unit. Two buildings, 7131 S. Bennett Ave. and 1949 E. 73rd Ave., are located in the South Shore neighborhood, while the third property, 6600 S. Ingleside Ave., is in the Woodlawn neighborhood.
Skender Completes Rehab of Chicago’s BJ Wright Apartments
On behalf of New York-based developer Jonathan Rose Companies, Skender has completed a full interior and exterior revitalization of the Barbara Jean Wright Court Apartments at 1000-1038 W 14th Street in Chicago’s University Village neighborhood. Jonathan Rose purchased the deteriorating property from the Chicago Community Development Corporation in 2022...
Luxury Apartments in West Suburban Chicago Now Open and Leasing
Ryan Companies US, Inc. announced that Vyne on Haven is now open and available for leasing. The apartment community is located at 100 N. Haven Road in downtown Elmhurst, Illinois, and comprised of 200 luxury apartment homes steps away from the Elmhurst Metra station. MetLife Investment Management and Ryan are...
Inland Takes Chicago Retail-Focused DST Full-Cycle, Delivers 1.75x Equity Multiple to Investors
Real estate investment manager Inland Private Capital Corporation has sold a retail property currently leased to Best Buy and Golf Galaxy in Downers Grove, Ill., a southwest suburb of Chicago. Inland facilitated the sale of the property on behalf of Downers Grove Retail DST, one of Inland Private Capital’s 1031 investment programs.
Chicago’s long-vacant Spire site will be home to a two-tower residential development
In downtown Chicago, the site of the planned Chicago Spire, at the confluence of Lake Michigan and the Chicago River, has sat vacant since construction ceased in the wake of the Great Recession. In the next few years, the site will be home to a new two-tower residential development, 400 Lake Shore.
Lincoln Park 7-bedroom home with elevator: $5M
Address: 2130 N. Cleveland Ave., Chicago Price: $4,999,999 Listed: May 15, 2024 This seven-bedroom, seven-and-a-half-bath home in Lincoln Park features a checkered marble entryway and a paver patio with a fireplace. The living and dining rooms have white oak floors, 11-foot ceilings, a custom staircase and a limestone fireplace. A two-car garage has electric vehicle charging and a parking pad. In the kitchen are a Subzero fridge, a 60-inch Wolf range with two ovens, two dishwashers and a butler’s pantry. Additionally, the kitchen has House of Rohl brass plumbing fixtures, a porcelain waterfall countertop and a wrapped hood. The primary suite on the second floor has a walk-in closet and bathroom with Waterworks fixtures. Also on the second floor are a library and en suite guest bedroom. The third floor features three en suite bedrooms, a laundry room and an office. The top floor leads to a rooftop with panoramic city views. On the lower level is a rec room with two bedrooms, a dog wash and a mudroom. There is also an elevator to all floors.
CBRE closes 15,473-square-foot office in renovated Canal Station building in Chicago
CBRE has arranged a new 15,473-square-foot lease on behalf of its client, R.M. Chin & Associates, the first lease within the newly renovated Canal Station building at 801 S. Canal St. in Chicago. CBRE’s Bill Sheehy and Brady Wolfe represented the tenant, R.M. Chin & Associates, in the transaction. Telos’...
Becovic Acquires Two Edgewater Multifamily Properties
Becovic Residential, a Chicago-based multifamily owner and operator, has added two apartment communities to its Edgewater offerings. The Winthrop House, located at 5718 N. Winthrop, was purchased for $10.25 million. The Kenmore Commons property, located at 6134 N. Kenmore, was purchased for $7.25 million. The deals were brokered by Interra...
LJC Unveils Renderings of Office-to-Residential Conversion in Chicago’s Loop
Lamar Johnson Collaborative, an architecture firm headquartered in Chicago, has revealed interior renderings of The LaSalle Residences, an office-to-residential adaptive reuse project at 208 S. LaSalle St. in Chicago’s Loop. The renderings represent the first interior images to be released from any of the properties moving forward under the...
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