Archive for February 2012

New York is top destination for ex-Chicagoans

A while back we suggested that all our exes live in Texas, putting a waggish spin on Joel Kotkin’s contrast of Texas’ cities “growing population, a solid and expanding job base and a relatively efficient city administration” with Chicago’s “continued loss of jobs, decaying infrastructure, rampant corruption and continued out-migration of the area’s beleaguered middle... Read more »

Does it pay to be a Pritzker?

Over at Crain’s Chicago Business Shia Kapos is passing along information about Pritzker family property tax bills. The information was “pulled together by a labor union battling the family’s Hyatt Hotels Corp.” According to the public records, as Kapos summarizes them, property tax appeals by various members of the Pritzker family have resulted in tax... Read more »

South Side Beverly selected as one of the best old house neighborhoods

The April issue of This Old House magazine singles out Beverly as one of the nation’s “best old house neighborhoods” for 2012. This Old House, surprisingly for a national publication doing a nationwide story, gets much of what it writes about Beverly right. It does get some important things wrong, including the notion that Beverly’s... Read more »

New condo developments in the West Loop

Buyers looking for new construction 3-bedrooms in the West Loop have at least two options available: 1312 W Madison and CA23. The former is offering May occupancy, while the latter won’t be delivering units until late this year and early next year. Phase I is sold out at both projects, and Phase II units are... Read more »

Head two blocks west on Belmont and pay over $100K less

Noah Properties is one of the hottest-selling developers in Chicago. The company’s detailed-to-the-max single-family homes and condos have sold almost as quickly as they’re completed. When Noah Properties offered 3-bedroom, 2-bath condos for sale at 2257 W Belmont less than two years ago, they sold readily in the high $300s. Two of those units are... Read more »

Chicago's three priciest rentals

The priciest rentals currently listed in the MLS are a true penthouse at 1244 N Stone and a unit on the 88th floor of Trump Tower, renting for $26,000 and $22,000 a month, respectively. Third place goes to Unit 58J3 at Olympia Centre, which has just been listed for rent at $20,000 a month. The... Read more »

Buyers take a beating on Bridgeport lofts

Five years ago Morgan Street Lofts in Bridgeport, had only 8 units remained available for sale. Five months later the developer, Anthony DeGrazia, was saying that the 60-unit project was 70% sold. Do the math. In December of 2008 Cole Taylor Bank filed a foreclosure proceeding involving the 17 units and 20 deeded parking spaces... Read more »

An unusual perspective on a new apartment tower

Marie Spear and Greg Hayes, the team operating the tower crane at K2 at K Station, are veteran members of Operating Engineers Local 150. They spend their days 240 feet above the ground, with an entirely different perspective on the job site than anyone else involved in the construction of this 34-story, 496-unit apartment high-rise.... Read more »

CoreLogic paints a bleak picture of Chicago foreclosures

CoreLogic, in a news release not yet updated to its news page, just announced its first national Foreclosure Report which provides monthly data on completed foreclosures, foreclosure inventory and 90+ delinquency rates. According to the report: Completed foreclosures for all of 2011 totaled 830,000 compared with 1.1 million in 2010. In December 2011 there was... Read more »

New apartment towers headed for the South Loop

Crain’s Chicago Real Estate Daily is reporting that AMLI Residential has agreed to buy a South Loop site at the southwest corner of Clark and Polk and plans to develop two apartment towers with 398 units. The current owner, Avalon Bay, acquired the site from Lennar Corp, which had planned a large condo development. AMLI... Read more »