Archive for December, 2007

South Loop Comes of Age With “New” Gold Coast

In the last few decades, the South Loop used to be known as the “cheaper” part of downtown.  But not anymore.  One Museum Park, with its million dollar condos with lake and Grant Park views, is only one element that is changing the perception of the area for those looking for “luxury” living. There are expensive townhomes and condos […]

Another Sterling Foreclosure: Good Price or Not?

A “penthouse” in The Sterling at 345 N. LaSalle has come on the market after foreclosure.  It didn’t sell at auction and is now bank-owned. Unit 4701: 3 bedroom, 3 bath, 1900 square feet An ad on Craigslist says it sold in September 2005 for $895,000 It also sold in February 2005 for $719,500 Currently listed […]

Flipper Alert: Flippers Trying to Sell at 1400 S. Michigan

Michigan Avenue Tower II at 1400 S. Michigan in the South Loop was one of the buildings I inadvertently left off of the “list” of condo buildings that will be closing in 2008. It’s not scheduled to close until Fall 2008, but already some anxious flippers are trying to sell. This flipper posted on Craigslist under […]

The Third Biggest Story of 2008: New Condo Towers Everywhere

  2008 may go down as the year when downtown Chicago saw a glut of high rise condo units. The list of buildings scheduled to be finished with construction and closing on units in the new year is pretty staggering.  I’m putting a list here but I doubt it’s complete.  If anyone has any other […]

The Second Biggest Story to Watch in 2008: Trump Tower Chicago

  The highly anticipated opening of Trump Tower Chicago will finally happen in 2008. The hotel is scheduled to open this spring (if they can get finally figure out those recent permit problems.)  The hotel/condos are also expected to close starting this spring.  The condos in the top of the Tower aren’t scheduled to close until 2009. Excitement […]

More eBay Sales: The Sterling and 17 N. Loomis

“Me” pointed out in the last post on The Sterling that Unit #1902 is for sale on eBay. Auction for Unit #1902 [eBay] Unit #1902: 1 bedroom, 1 bath, 725 square feet Listing says “appraised value” is $295,000 Last sold in February 2002 for $253,000 Current “bid” is $140,000 Auction ends on January 6, 2008 The […]

The Biggest Story To Watch in 2008: The Chicago Spire

  As we  head into 2008, I thought I would post about what the “big” real estate stories will be in Chicago in 2008. THE story, in my opinion, will be the opening of the sales center for the Chicago Spire.  Slated to open next month with a full unit model- we will finally be […]

Luxury of the 1920s: 3500 N. Lake Shore Drive

If you don’t want to pay nearly $3 million for your “home in the sky,” take a look at the 1920s luxury apartment buildings that line the lake front both on the South Side and as far north as Edgewater. The 1920s marked the last time “luxury” was springing up all over the city.  Several […]

Luxury of the 1980s: 1418 N. Lake Shore Drive

Having just talked about 50 East Chestnut and how that building was reminiscent of the large luxury apartments constructed in the 1920s, there was actually another building that led the way in full-floor condo construction. Built in 1984, 1418 N. Lake Shore Drive was the first condo building to be built since the 1920s with full-floor residences […]

Let’s Talk Luxury: 50 East Chestnut Starts Closings

There are a lot of luxury units on the market and more will be coming onto the market next year.  But quietly, 50 E. Chestnut, the 34 unit boutique luxury building in the Rush Street Corridor at Chestnut and Rush has started closing on units. I’m able to locate only two closings so far, but […]