Crib Chatter

It seems that the new price point for luxury larger one bedrooms in Streeterville is now around $600,000. Can this price point be sustained in Chicago? Case in point is a recent new listing at Fairbanks at Cityfront Plaza at 240 E. Illinois which is just starting closings on the tower portion of the building. […]

With closings coming up in the next few weeks on the lower floors at 600 N. Fairbanks, investors are trying to get a leg up on flipping their units in the building over other investors. Right now, there are about 10 flips on the market with some of them on the MLS and some of […]

      There comes a time in every condo building’s life when it is no longer the “new” kid on the block.  What once seemed like a “prestige” building in a “great” location, no longer is, once a newer,  even more prestigious building with even better views is built up the street from you. […]

  As I talked about earlier, closings have begun at Avenue East, at 160 E. Illinois the new high rise right off of the Mag Mile in Streeterville.  (It is much more completed than the picture above suggests.) There isn’t much architecturally interesting about the building, but it has a great location right near the Mag […]

The day after the Chicago Spire made its big splash, Chicago developer Michael Reschke was interviewed in the Wall Street Journal about the mega-high rise he has on the drawing board, the Chicago Waldorf.  According to the article, it will be a 100 story Waldorf-Astoria hotel and condominiums with 325 rooms in the hotel and […]

Crain’s has posted information from the press “sneak peek” at the Chicago Spire today. The rumors about prices weren’t too far off.  They will range from $750,000 to $40,000,000 (not the $10 million that was talked about.) Several things: The $750,000 cheapest unit will be for only 534 square feet.  I’m assuming that is a […]

  I already have had several posts on early flips at Helmut Jahn’s modern high rise at 600 N. Fairbanks in Streeterville.  The closings have not yet begun but another flip has appeared. Unit #1901: 3 bedroom, 2.5 baths, 1746 square feet, Southeast facing unit Hasn’t yet closed but those familiar with the building tell me […]

The world’s tallest residential building, the Chicago Spire, is under construction near Navy Pier in Chicago.  Chicago is already home to the current tallest residential building in the world, the John Hancock Building, built in the 1970s (all of the more recent “tallest” buildings have been purely commercial).  The Hancock is a mixture of residential and commercial however.  The […]

The flippers are coming out of the woodwork at Helmut Jahn’s new high rise in Streeterville.  Just last week the first flips were listed.  Two more have appeared on Craigslist for higher floors, both by these by the same flipper/owner. Can the prices get any more outrageous? The flipper is asking $529,000 for a one bedroom on […]

  540 N. Lake Shore Drive is the only loft building that faces the lake in Streeterville, the Gold Coast or the South Loop (that is directly lake facing.) Built in 1912, it was originally the home of Borg-Warner Company.  In 1983, it was renovated into apartments and in 1992 became a condo conversion.  There is […]