New condo market still alive and River North, West Loop are sizzling
Loop North News

The Home Front

(Above) View looking east from model unit at Renelle on the River. Click on images to view larger versions.

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.

Sara Benson

“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.”

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.

Fifteen Fifty on The Park

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

No. 9 Walton

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

56 West Huron Street

River North

56 West Huron Street

11 units, 3 stories, $1.4 million to $4 million

Kieferbaum Development

Website

61 West Erie Street

61 West Erie Street

10 units, 10 stories, approximately 2,900 square feet per unit

LG Development, LLC

One Chicago Square

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

Renelle on the River

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

Superior House

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

The Bentham

The Bentham, 146 West Erie Street

31 boutique 3-bedroom units, 15 stories

Sedgwick Properties

Website

Positive Image

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

Three Sixty West

Three Sixty West, 360 West Erie Street

38 units, 3-bedroom layouts, $1.1 million to $1.7 million

Belgravia Group

Website

One Bennett Park

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

Tribune Tower

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

BR Lillie Photography

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.

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.

Mille at 1000 West Monroe

• 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

• 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.

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

By Don DeBat | Loop North News | debatnet@aol.com

Published 28-Sep-19 10:48 PM

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