August 20, 2007 – New West Realty’s 1555 Wabash broke ground and is starting construction. As with other projects in the city lately, the building had to wait on the necessary permits. But things should start moving along soon and the South Loop will have another high-rise to keep track of in the coming months.

1555 Wabash is slated for completion sometime in 2008 and will contain 176 units when finished. These homes are described by the builder as “soft-loft” style with a bit higher than average ten foot ceilings that are made from exposed concrete. This gives the units a kind of traditional loft feel and look. The builder also opted for larger terraces as opposed to balconies on this project.

Residents will get the usual perks of a building fitness center, landscaped terrace on the roof and deeded parking that will be offered. Interior details include stainless steel appliances and hardwood flooring among other finishes. The soft lofts come in one to three bedroom with one to two bath plans with a starting price in the mid $200,000 mark.

The exterior of 1555 Wabash will be eye-catching in that the facade is to be constructed from a soft green shade of low E glass that should cast an interesting light on the project in more ways than one.

1555 Wabash joins a growing list of Chicago Lofts currently in the construction phase right now across the city.

[tags]1555 Wabash, Chicago Illinois, Chicago Condos for Sale[/tags]

August 18, 2007 – Early this year ground was broken and construction began on The Legacy at Millennium Park. The first floors can now be seen going up behind the facades of the historic neighborhood buildings on Wabash that are being salvaged as part of the project. Mesa Development committed to saving and restoring the exteriors of these structural landmarks and the end result can only add to the architectural appeal of the 73 story Legacy.

When The Legacy is completed in 2009 its condos will have all of the standard luxury interior finishes and furnishings. Hardwood flooring, stainless steel appliances, walk-in closets and lavish baths are certainly attractive to buyers. But the building amenities that tend to set The Legacy apart are the spectacular views and Sky Bridge that connects the building to the nearby University Club.

Every unit at The Legacy will have incredible multi-angle views of Millennium and Grant Parks plus Lake Michigan and the city skyline from both the floor to ceiling windows and the balconies. There will be a landscaped sundeck on floor 15 as well as outdoor “sky gardens” on floors 42 and 60. The Sky Bridge will provide residents with easy access to the University Club and its catering services and recreation rooms.

The Legacy at Millennium Park is one among a number of new Chicago Condos going up that are preserving a bit of history while making some of their own.

[tags]Legacy at Millennium Park, Chicago Illinois, Chicago Condos for Sale[/tags]

August 17, 2007 – Another high-rise that will be open for occupancy by late this autumn is 550 North St. Clair. Construction began last March and the building was topped out this summer. The last construction photo posted on the Emporis site showed the exterior glass being applied in May and the headline on the main website for 550 North stated that 80 percent of the 112 condos are already sold.

The units at 550 North St. Clair come with a great amenity package and are priced very competitively, which is obviously a winning combination according to the sales figures. The condos range from studios to three bedroom units and penthouses with pricing from the $200,000 on up. Floor 9 is where the residences begin and continue up to floor 26. Ceilings heights from 9 to 11 feet with exposed concrete are standard as are private balconies or terraces, floor to ceiling windows, Brazilian cherry or maple hardwood floors plus Bosch and Sub-Zero appliances.

The location of 55 North St. Clair is also another strong selling point. The building sits only around three blocks from Lake Michigan and just a half a block from Michigan Avenue or the Magnificent Mile. This prime Streeterville address puts residents of 550 North at the heart of one of the most exciting sections of Chicago.

You can find out more about Streeterville or other popular locations in the city by checking out the information on Chicago Neighborhoods.

[tags]550 North St. Clair, Chicago Illinois, Chicago Condos for Sale[/tags]

August 16, 2007 – Back in October of 2005 when the James McHugh Construction Company began work on 50 East Chestnut they quoted a finish date of autumn 2007 and from the banner on the building’s website, they are right on time. The site showcases construction photos of the building as it stands nearly completed and states that move-in for residents will occur sometime this fall.

McHugh brought a lot of experience to the 50 East Chestnut project. This $47 million dollar luxury condominium building is really one of the most exclusive in Chicago’s Gold Coast and virtually every step of construction is being performed by McHugh. From the initial concrete work to frame up, finish work on the wood elements and interior work, they have excelled in producing another amazing tower. They even hauled the soil needed up to the roof top for landscaping the green space.

With 34 full floor residences, 50 East Chestnut will provide a level of privacy and luxury not frequently found in many condo developments. It must have been exciting for future residents to watch as each floor went up and be able to say that was all theirs. Handsome crown moldings, gas fireplace with stone and wood accents, floor to ceiling windows with nearly panoramic views, large terraces and high-end appliance and furnishing packages come with every home. Concierge service and a 24 hour doorman wrap up the hotel quality services in the building.

There are a number of Gold Coast Chicago Condos that are currently being built and 50 East Chestnut is a prime example of these new luxury high-rises.

[tags]50 East Chestnut, Chicago Illinois, Chicago Condos for Sale[/tags]

August 15, 2007 – After construction was complete last fall and residents began to move in, The Streeter quickly garnered a reputation as one of Chicago’s most expensive luxury high-rise buildings. The fluctuating housing market made renting condos even more attractive to many people and contributed to The Streeter’s popularity. Those factors added up to a recent sale of the high-rise for somewhere in the neighborhood of $212 million, as reported in a Crain’s article from last week.

Developer Golub and Company sold The Streeter to an Ohio based teacher’s retirement pension fund organization. Golub intends to break ground on a similar 50 story 480 unit building tentatively called Streeter Place that will stand just to the east of The Streeter and be ready for occupancy sometime in 2009.

The Streeter’s sale price attested to the value people are putting on luxury rental property. With a tempting array of building amenities such as concierge service, fitness and business centers, men’s and women’s spas as well as high-end interior furnishings, it’s no surprise renters opt to live there and forgo buying a condo right now. It remains to be seen if this is a growing trend among those looking for a new home or with developers and investors of Chicago Condos in Streeterville.

[tags]The Streeter, Chicago Illinois, Chicago Condos for Sale[/tags]

August 14, 2007 – For X/O, the two “dancing towers” that architect Lucien LaGrange designed, the tango could be cut short. Both the Chicago Journal and Crain’s Business broke the news that Chicago Alderman Bob Fioretti has put forth a zoning change proposal that could potentially alter the height of X/O. If passed, it would be a reversal of a zoning change from last fall that allowed the towers to move forward in the first place.

The two towers, 46 and 34 stories, could lose 100 condos if the change in zoning goes through. Keith Giles of Kargil Development was quoted as saying sales of the first tower are past fifty percent, with sales of tower two picking up speed. He pointed out that with over 200 units pre-sold, legal action could be an option if the development is threatened.

Two favorable letters to the editor of the Chicago Journal have been published. The Greater South Loop Association is for the project while the Prairie District Neighborhood Alliance is against it, citing the height and modern design as inappropriate for the neighborhood.

The towers are designed to create an optical illusion by seeming to lean in towards each other. Spa XO, the two story building shared by the towers, is slated to be one of the most lavish in the city. Besides the customary pools, sun deck and theater, Spa XO will contain such exotic features as a Finnish sauna, Turkish steam bath, indoor waterfalls and a huge botanical garden.

The proposed zoning change will be reviewed by the committee sometime in September or October. Until then, X/O plans to keep dancing.

Visit Pre Construction Condos in Chicago for a list of ongoing developments in the city.

[tags]X/O, Chicago Illinois, Chicago Condos for Sale[/tags]

August 11, 2007 – The SoNo condo project secured $56 million worth of funding for construction, as reported in a Chicago Real Estate Daily (Crain’s) article this week.

“I think once we’re seven or eight stories up, people will understand what a unique location and opportunity this is,” Bill Smith of developer Smithfield Properties was quoted as saying in the article in reference to slowing sales of the condos.

As with many luxury pre-construction developments in the past months, initial SoNo sales were strong, then tapered off due to worries in the housing market. With most projects requiring at least a 50% sell rate before ground can be broken, this dip in sales has caused some buildings to be put on hold. But not SoNo. Construction work began a few days ago on the foundation of tower one of the two 27 story buildings. That tower is past the halfway mark in sales and the fate of tower two depends upon successful sales above 80% in tower one.

Combined, both towers of SoNo will house a total of 550 condos that range in price from the upper $200,000 mark to over $500,000. The target completion date for tower one is late 2008.

If you’re not sure about buying a condo right now, why not check out the listings in Chicago Apartments and see what’s available?

[tags]SoNo, Chicago Illinois, Chicago Condos for Sale[/tags]

August 10, 2007 – Building a million square foot development may sound daunting, but Centrum Properties Lofts At Roosevelt Collection is up and running, making headway towards its phase one finish date of 2008. The project is under construction with the initial work being done on the first two eight story towers that will house the loft residences and also a group of almost fifty stores, restaurants and businesses including a sixteen screen Kerasotes theater complex.

The Lofts at Roosevelt Collection are designed to be a pedestrian friendly community. Not only will Chicago’s downtown be accessible but residents will be able to easily walk to any of the retailers located in the development or stroll down to the three acre park planned for the later construction stages. The park will host a yearly farmer’s market along with art festivals and music concerts.

Besides the loft units that are scheduled for occupancy sometime in 2008, the next phase will be construction of a forty-three story condominium with 294 homes. The total project will house 342 units when fully completed in 2009.

The Lofts At Roosevelt Collection is only one of several new projects going up in the city. You can find out more about other developments by visiting Chicago Lofts where you’ll get the latest information available.

[tags]The Lofts At Roosevelt Collection, Chicago Illinois, Chicago Condos for Sale[/tags]

August 9, 2007 – Printers Corner has reached the final stages of construction and will be ready for occupancy in the not too distant future. In the publishing world, being “in the ink” means that the book is complete and has gone to press. The same can be said of Printers Corner, located on 170 West Polk Street in the Printers Row district.

The building was topped off about a month ago and final exterior work was being done. The concrete and brick used in the construction process gives it an established, traditional look. One of the best features of this seventeen story condominium is that the building design allows for every residence to occupy a corner space, making a great view possible from the floor to ceiling windows in those corners. There are only eight condos per floor with a total of eighty-eight units in all.

Other notable features at Printers Corner are the ten foot high ceilings and oak hardwood flooring. More impressive views can be seen from the private balconies attached to each residence. Forty-two inch custom Italian cabinetry, Whirlpool tubs, full size washer and dryer in the laundry room and a forty-two inch large screen plasma television are all part of the package deal.

Developer Winthrop Properties reported in July that around seventy percent of the condos at Printers Corner had been sold. There were some of the one to three bedroom homes still available. Prices fall between the upper $280,000 to $470,000 range.

If you are interested in condos like Printers Corner or need help starting your search for a new home, the best place to start looking is with Townhouses in Chicago.

[tags]Printers Corner, Chicago Illinois, Chicago Condos for Sale[/tags]

August 8, 2007 – Work is in progress on Silver Tower, the high-rise going up on 325 West Ohio Street. With ground broken recently and construction well underway, passersby will be able to watch the floors stack up on their way to the building’s full height of 35 stories.

Silver Tower is slated to be complete and its 229 condos ready for occupancy by early to mid 2008. The Sun Times reported that Metropolitan Real Estate owner Terrence Sommerfield, project developer, confirmed a 65 percent total sales figure for the homes in the building.

The Sky Lobby is where residents will be able to access a fitness center around the clock, relax on the patio and enjoy the landscaped garden area or invite guests to the community room. Interior finishes include oak flooring, KitchenAid appliances, maple or cherry cabinets and private balconies and terraces. Silver is even pet friendly.

The popular River North location of the tower is a major plus for future residents, placing them in the heart of a vibrant section of Chicago. The assortment of art galleries, excellent restaurants, unique shops and entertainment venues make living there a one of a kind experience. Then factor in the amenities that the condos will have and residents may feel as though they really have struck it rich at Silver.

If you’re in the market for a new home in Chicago or interested in keeping track of new construction or redevelopments, current information can be found by checking Chicago Condo Lofts.

[tags]Silver Tower, Chicago Illinois, Chicago Condos for Sale[/tags]