(Above) View looking east from model unit at Renelle on the River. Click on images to view larger versions.
By Don DeBat
28-Sep-19 – Despite the decade-long boom in new rental apartments in Chicago, the market for new-construction condominiums is far from dead.
A new survey by Association Evaluation, LLC, found a total of 2,134 new condo units in 26 Chicago projects are in the pipeline for completion in 2019, 2020, or later.
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“While about a half dozen of the buildings are large high-rises, the lion’s share of the projects in our survey are boutique condo developments with 20 to 40 units,” noted Sara Benson (left), president of Association Evaluation, LLC, a Chicago-based real estate data analysis firm. “The West Loop and River North are especially hot, with 14 projects underway or planned in these new-construction condo boomtown neighborhoods.”
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There also are 1,074 new rental apartments in the mixed-use high-rises surveyed, so the entire Association Evaluation survey found a total of 3,208 new units in the pipeline.
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Gold Coast
Fifteen Fifty on The Park, 1550 North Clark Street
32 units, 3 and 4 bedrooms, 2,300 to 4,500 square feet, $1.625 million to $5.85 million
Golub & Company, CIM Group, Avoda Group
Website
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No. 9 Walton, State Street & Walton Street
68 units, 38 stories, 2 to 6 bedrooms. 23 units sold for more than $4 million.
JDL Development
Website
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River North
56 West Huron Street
11 units, 3 stories, $1.4 million to $4 million
Kieferbaum Development
Website
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61 West Erie Street
10 units, 10 stories, approximately 2,900 square feet per unit
LG Development, LLC
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One Chicago Square, 733-755 North Dearborn Street
Two high-rises are proposed with 45 stories and 76 stories. Plan calls for 75 condos and 795 rental apartments.
JDL Development
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Renelle on the River, 403 North Wabash Avenue
50 units, 17 stories, 3 and 4 bedrooms, 1,827 to 3,434 square feet, $1.3 million plus
Belgravia Group
Website
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Superior House, 366 West Superior Street
34 units, 12 stories, 2 to 4 bedrooms, $1 million to $3.5 million
Ascend Real Estate Group
Website
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The Bentham, 146 West Erie Street
31 boutique 3-bedroom units, 15 stories
Sedgwick Properties
Website
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The Ronsley, 678 North Kingsbury Street
41 loft condo and penthouse units, 2 to 4 bedrooms, 2 to 4.5 baths, 2,156 to 5,349 square feet, $1.395 million to $4.995 million
LG Development, LLC
Website
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Three Sixty West, 360 West Erie Street
38 units, 3-bedroom layouts, $1.1 million to $1.7 million
Belgravia Group
Website
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Streeterville
One Bennett Park, 451 East Grand Avenue
69 units, 70 stories, 2 to 4 bedrooms, 1,737 to 7,500 square feet, $1.9 million to $15 million. The high-rise development also includes 279 rental apartments.
Related Midwest and Lendlease
Website
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Tribune Tower, 435 North Michigan Avenue
163 units, 1 to 4 bedrooms, $700,000 to $7 million. Also, 125 condos are planned in a future high-rise new-construction tower on the parking lot to the east.
Golub & Company, CIM Group
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West Loop
One of the hottest new West Loop projects is 900 West Washington Street (left), a ten-story boutique condo with 22 units being developed by Taris Real Estate. Prices exceed a whopping $1,000 per square foot. A 4,950-square-foot penthouse on the ninth floor of the building reportedly sold as raw space for $5.72 million.
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Other projects now in the marketing phase, under construction, or proposed in the West Loop...
• 170 North Peoria Street. 300 units planned in a 43-story high-rise. Related Midwest and Tucker Development. Website
• C3 Chicago Condo Collection, 236 South Racine Avenue. 20 units, $565,000 to $885,000. Website
• Hayden West Loop, 111 West Washington Street & 19 North May Street. 56 units planned in twin nine-story, 28-unit buildings.
• Illume, 111 South Peoria Street. 79 units, 1 to 4 bedrooms, $192,000 to $2.495 million. LG Development, LLC.
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• Mille at 1000 West Monroe. 12 units in an eight-story mid-rise building. Prices range from $500 to $700 per square foot. Valerio Dewalt Train Associates. Website
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• West Loop Collection, 240 South Green Street. 40 units in five separate eight-unit buildings, $989,000 to $2.075 million. POGN Development. Website
Noble Square
• 1220 North Bosworth Street. 34 units, 12 stories. Henry Street Partners.
• Ace on Ashland, 1013 North Ashland Avenue. 33 units, 4 stories, 2-bedroom layouts. GNP Development.
• St. Boniface, 1358 West Chestnut Street. 39 units, 17 single-family residences in existing church, plus 24 new construction condos. Stas Development.
Other neighborhoods
• 1000M, 1000 South Michigan Avenue in South Loop. 323 units, 74 stories, 1-bedroom to 4-bedroom penthouses. Architect: Helmut Jahn. Jerry Karlik, JK Equities, Time Equities, and Oak Capital.
• 2505 North Milwaukee Avenue in Logan Square. 18 units. SNS Realty.
• 670-680 North Milwaukee Avenue in River West. 20 units. Domain Group.
• Vista Tower, 363 East Wacker Drive on New East Side. 406 units, 101 stories. Magellan Development Group and Wanda Development.
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Association Evaluation currently is marketing its condominium and HOA data to condo service providers such as attorneys, property management companies, landscapers, remodeling and repair tradesmen – including roofers, plumbers, and contractors. The Chicago and Illinois lists can be sorted by zip code, city, year of construction, property management company, and number of units in the association.
Association Evaluation, LLC
844-727-7267 ext. 801
info@hoamailinglist.com
Website
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