Crain’s reported today that luxury apartment building company AvalonBay Communities Inc. has pushed back its plans to build 1000 units in the South Loop at Clark and Polk due to economic conditions, including a glut of condo units that are being rented. Construction was set to start in May 2009 on the first of two 500-unit towers. The […]
We last chattered about this 2-bedroom unit at 1445 W. Belden in Lincoln Park in September 2008. See the prior post and pictures here. (In the comments thread- someone claiming to the owner admits that they listed too high in the beginning.) It has been reduced another $50,000 and is now listed $62,000 under its prior […]
I’ve been hearing buzz from various realtors that many sellers intend to list their properties for sale in early January 2009 (going against conventional Chicago real estate wisdom that there are few buyers in the winter and that you should list in the “spring”- which is normally after the Super Bowl.) Reasons? Low interest rates […]
We’ve chattered about this 1500 square foot brick and timber 1-bedroom loft in the Donohue Building at 711 S. Dearborn in Printers Row several times. It’s been reduced another $20k. The listing now says that a “2nd Bdrm/Bath can be added”. Is the problem that it’s “only” a 1-bedroom unit? See some pictures and our old chatter […]
Remember this pretty 3-bedroom, 2200 square foot vintage unit at 1056 W. North Shore that was only “50 feet” from the Beach in Rogers Park? We originally chattered about it in May 2008. It sold in September. See the pictures here. Here’s it’s history again: Unit #3W: 3 bedrooms, 2 baths, 2200 square feet, 2 […]
We chattered about this 3-bedroom 1930’s vintage unit at 4712 N. Paulina in Ravenswood in June and July 2008. It is finally under contract after several price reductions. The listing now says, “Reduced, incredible price!” See more pictures here. Here’s the history: Unit #2N: 3 bedrooms, 2 baths, sunroom, 2200 square feet I couldn’t find […]
As we’ve been chattering about for several months now, the sheer number of new apartment high rises combined with investors trying to rent out unsold condo units has created a glut of rental units downtown. From the Chicago Tribune: Rates in the “best of the best” apartments in the downtown area on average dipped from […]
We’ve chattered about The Marquee, at 1464 S. Michigan (although previously the address was listed as 1454 S. Michigan) several times before. This 3-bedroom unit, Unit #2201, was originally listed a year ago for $795,900 and has been reduced by over $300,000. There is no square footage listed but here are the room sizes: Bedroom #1: […]
As we did last year, it’s time to chatter about what new buildings will complete construction and will be closing on units in 2009. Despite the market conditions, the list is still long. Loop: 55 E. Monroe- 156 units West Loop: 565 W. Quincy- The Quince: 241 units 24 S. Morgan- Pure: 67 units 659 […]