Archive for February 2011

565 Quincy nears 90% closed, opens new models for closeout push

565 Quincy represented one of the bright spots in downtown’s new-construction market last year. Between that building and 600 Lake Shore Drive, Belgravia Group condos represented a third of all new home sales in the area. According to a new press release from 565 and @properties, fewer than 25 units are still available, and more... Read more »

After 2 weeks at $3M, the trims begin for new North Center mansion

$2,995,000 might have been a good starting point for this 8,000 square-foot, new-construction mansion at 2216 W Grace St in North Center, but two weeks were all its builder needed to know that a lower price was in order. Yesterday the home dropped 10%, to a new list price of $2,699,000. The home, built by... Read more »

Touring an in-demand three-bedroom with a sweeping lake view at 600 Lake Shore Drive

The 04 tier in the north tower at 600 Lake Shore Drive has a broad sweep of living and dining space fronting Lake Michigan and Navy Pier. This tier, one of the first to sell out at the newest towers on Lake Shore Drive, has great separation between the living and sleeping areas. The 2,159... Read more »

Near West Side finally getting its grocer, says Fioretti

The Near West Side and East Garfield Park will move one step closer toward getting a much-needed grocery store next month, when Pete’s Fresh Market is expected to close on the vacant lot at the southeast corner of Madison Street and Western Avenue and file for building permits, says 2nd Ward Ald. Robert Fioretti. In... Read more »

Feeling the pain at Edgewater's 6030 North Sheridan

We last looked at 6030 North Sheridan in June 2006, when Rick Levin & Associates was preparing a developer closeout auction at the 292-unit building, with one-bedroom condos starting at a suggested opening bid of $125,000. These days, the median price of a one-bedroom in the Edgewater high-rise is less than half that amount: $59,950.... Read more »

Inside an 8,600 square-foot bowstring truss home in Lincoln Park

You’ve probably experienced the dramatic spaces enabled by bowstring truss construction in a restaurant, garage or other commercial space. The trusses create large, open, maximally flexible space uninterrupted by columns or load-bearing walls. I’ve seen only a very few single-family homes created within bowstring truss buildings (they rarely have zoning that permits it). The home... Read more »

Market snapshot: Edgewater condos routinely selling for five figures

Sixteen of the 26 condo closings recorded in Edgewater since the turn of the new year have been below $100,000. These five-figure homes have ranged from a one-bedroom / one-bath at 5815 N Sheridan Rd, which closed for $35,000, to an 1,100 square-foot two-bedroom / one-bath at 5739 N Ridge Ave, which closed for $99,000.... Read more »

Did property management fraud affect sales at Logan Square's Metropolis Lofts?

“There’s a lot of first-time homebuyers here. We’ve got a lot of new parents who are afraid to sell because they don’t know if they’ll get their money. There’s a cloud over this building now.” – Paul Kolenda, an owner at Metropolis Lofts, 1934 N Washtenaw Ave in Logan Square, speaking to Chicago Magazine in... Read more »

Landmark McCormick Row House in DePaul available for under $1M

It’s rare to see one of DePaul’s vintage McCormick Row Houses for sale, especially at a price in the six figures. The five-bedroom / 3.5-bath home at 836 W Belden Ave sold in 2005 for $1.32 million, and again in 2007 for $1.4 million. It’s been on and off the market since May, and is... Read more »

235 Van Buren's one-of-a-kind duplex penthouse sells for $860K

Last March Scott Hoskins of CMK Realty took me through the “crown jewel” of 235 Van Buren — unit 4610, a 2,272 square-foot two-bedroom / 2.5-bath penthouse on the tower’s northwest corner. It’s the building’s only duplex, and features two balconies and a 1400 square-foot terrace. Last Friday the home sold for $860,000. Through Redfin... Read more »