October 31, 2007 - Lincoln Park 2520 is another one of Lucien Lagrange’s artistic creations. The design for the thirty-nine story high-rise that will take up residence at 2520 North Lakeview Avenue has been likened to a retro 1920’s style, but the views afforded there will be priceless in any decade.

Some of the sweeping views of Lake Michigan and the park can be seen first hand from the model at the sales center. Both are located on the eleventh floor of the building slated for demolition at the site. But before that happens and construction begins, potential buyers can really get a feel for how it’s going to look. That bit of heightened perspective has helped to sell the condos, according to developer Ricker-Murphy.

An option that has been on the table in marketing 2520 is for buyers to combine units to increase square feet of living space, sometimes to as much as 10,000. That in turn is affecting the original total of 320 condos. The developer is estimating that number could drop by as much as perhaps 70 units. That decrease in number could allow for an increase in the number of town homes that will be built behind the high-rise. The ten that are currently expected to go up may double in number if space permits.

With current sales figures already somewhere between 40 and 50 percent, these luxury condo suites have done well since marketing began in April. The development is scheduled for completion in 2009.

Besides the ones soon to be located at 2520, there are a number of luxury Townhouses in Chicago ready for occupancy.

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October 30, 2007 - The Roosevelt Collection, that mega development in the South Loop, began construction this past spring and Crain’s reported this week that developer Centrum Properties recently closed on $285 million in loans to finance the project. With a project as big as this one and a total dollar amount that size, there were several banks involved in the transaction. LaSalle Bank is the primary with $19 million, and a group of other lenders including National City Bank and Union Labor Life Insurance Company floated the rest of the money.

The scope of this project is really amazing. The twelve acre development is expected to eventually have upwards of 1,000 condos, a massive shopping center with 400,000 square feet of retail space and a sixteen screen Kerasotes theater. Phase one’s 342 condos are reportedly half sold and scheduled for completion in 2009, though the loft component of those units are expected to be delivered sometime in 2008.

Besides the residential portion of the development, plans call for over four dozen retailers to open shop there. Company names haven’t been made public yet, but Centrum claims to have written intent from a good number of future tenants. The finishing touch on the development will be a three acre park where residents can gather for year round scheduled events and festivals.

The Roosevelt Collection will be one of the South Loop’s bigger mixed-use projects, creating a mini-community that will be easily accessed by foot. If you’re more interested in Townhouses in Chicago, there are several new construction units on the market right now.

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October 29, 2007 - A recent press release from marketing team Frankel & Giles announced $45,000 worth of incentives on the remaining units at Lakeside Lofts, the newly constructed South Indiana, South Loop development designed by architects FitzGerald & Associates.

Lakeside Lofts is comprised of two buildings, five stories each, with a total of 96 units. Less than 20 of those units remained for sale when the offer was announced. Prices for one and two bedroom lofts run anywhere from $266,800 to $355,800. Parking is included in the price of the unit, with an estimated value of $35,000 for the space.

The other $10,000 of the incentive package is summed up in interior upgrades. Options available for the offer are mostly kitchen related. Upgraded GE appliances, Grohe faucets, Uba Tuba granite on the counters and designer cherry cabinets. The ten thousand also buys wide board solid wood oak floors and wiring for surround sound.

All of the lofts feature real wood tongue and groove flooring in the kitchen, dining room and living room, which is something not all developments can claim. The buildings also showcase awnings on the windows and a four season garden atop the garage floor.

This could be a sweet deal for someone ready to move into a nice Chicago Lofts development right now. No waiting and $45,000 in incentives should attract some buyer attention.

Technorati Tags: Lakeside Lofts, Chicago Illinois, Chicago Condos for Sale