October 19, 2007 – Back in May it was announced that Magellan Development planned to build another high-rise in the Lake Shore East area. The 76 story tower, for lack of an official name, is being referred to as Arquitectonica LSE or 375 East Wacker. The project is estimated to cost in the neighborhood of $400 million and is being designed by the Arquitectonica firm out of Miami.

This yet to be realized project is creating a bit of a stir not because of the cost, location or size, but because of the unusual design. The building will have a twenty story void in the middle, effectively splitting the structure like a square donut. Sheathed in glass and limestone, plans call for the tower to be trimmed in LED lights that will change color to match according to the season. There have only been a couple of other buildings with similar design, with Paris’ Grande Arche being one and the Torre Arcos in Mexico City for another. The lower level cut out at MoMo pales in comparison.

If this project actually makes it past paper, it will contain upwards of 671 condos and 224 hotel condo suites. Sales initially were supposed to start in August, were then pushed back to September and now rumor has it they may not begin until spring. So the original estimate for construction start in mid 2008 may be pushed back as well, depending on how marketing goes between now and then.

If you aren’t up for waiting on this Lake Shore East development and want something that’s more of a sure thing, the John Hancock Center Chicago Condos are worth checking out.

[tags]Arquitectonica LSE, Chicago Illinois, Chicago Condos for Sale[/tags]

October 18th – It’s been a while since we checked on Silver Tower’s progress at its 303 West Ohio location. The thirty-nine story River North high-rise began site prep work back in April, began drilling caissons on June 19th and the tower crane went up around September 8th. The completion date that the developer had originally predicted was early 2008, but more recent estimates put it closer to mid 2009. A few comments have been made about the building site looking a bit disorganized at first, but we’ll chalk it up to flurry of activity and just be glad that the project is moving along.

In contrast to many of the traditional brick buildings in the neighborhood, Silver Tower will be a sleek glass affair. The one to three bedroom units have optional dens and as per the huge banner hung on the Brown Building next door, are selling from the low $200,000 range. In keeping with the glass theme, the 11th floor of the tower will house the Sky Lobby where residents can work out virtually any time of day in the 24 hour fitness center. Or for a more low key form of exercise you can just appreciate the amazing views from the landscaped terrace on floor 39 while you take your dog for a walk.

The usual luxury amenity package will come with the condos. Oak hardwood flooring, KitchenAid appliances, Grohe faucets, cherry or maple custom cabinets are a few of the interior finishes.

It’s good to see this building finally getting underway. River North is one of the vibrant, energetic Chicago Neighborhoods where towers like this one fit in well.

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

October 17, 2007 – The Mandarin Oriental Tower hasn’t even broken ground yet but a press release from the KONE elevator company announced that they were awarded the contract for the building. It seems that Palladin Development signed them on in September to handle everything from the design to the installation of all the elevators in the high-rise.

KONE has been in business since 1910 and has branches in 50 different countries around the world. According to the press release, at the Mandarin they will be installing one hydraulic, three trademark MonoSpace and fourteen MiniSpace elevators. The work is scheduled to start in April of 2008 and wrap up in January of 2010. So that means at the very least some site work on the building lot should begin sometime soon.

The Mandarin Oriental Tower is slated to have 250 hotel condominiums located on the 28th to 40th floors. The Residences with one or two bedrooms will take up floors 41 through 54 and Tower Condos with one to four bedrooms will comprise the higher floors. The condos can be purchased either furnished or not, and all will have access to the hotel services and amenities. The ground floors will house retail space plus two restaurants where residents will have preferential service and reservation privileges. The 18th floor will contain the hotel spa and fitness center, complete with yoga and other classes, steam rooms, pool and sauna.

As far as Chicago Luxury Condos go, the Mandarin Oriental will more than hold its own when completed if everything goes according to the developer’s plan.

[tags]Mandarin Oriental Tower, Chicago Illinois, Chicago Condos for Sale[/tags]

October 16, 2007 – Not only is MoMo ready for residents to move in, as the banner on the building website states, the lower retail levels are scheduled for a grand opening this month as well. Loehmann’s, the clothing and fashion apparel retailer that prices designer names 30% to 65% below most stores, is already open and occupying two floors below where the Joffrey Ballet will take up residence. That is a total of 27,000 square feet of Loehmann shopping to draw in foot traffic from State and Randolph.

Speaking of the Joffrey Ballet, MoMo will be renamed the Joffrey Tower sometime in December, as per sales agreement between the company and developer Smithfield Properties. This is old news for everyone, but still worth a reminder because it will take some getting used to after the fact. Love it or hate it, you have to admit it has been entertaining to talk about a high-rise with a name like that.

A few small trees can now been seen on the roof top of the thirty-three story building, a sneak preview of the green space that should take root by next spring. If the weather holds this fall, residents might even be able to get in a few afternoons up there or a couple of last warm weekends relaxing on their private inset balconies.

So here’s to MoMo and the opening of its retail base, yet another of the Downtown Chicago Condos that wrapped up construction in 2007.

[tags]MoMo, Loehmann’s, Chicago Condos for Sale[/tags]

October 15, 2007 – It may be fall, but green buildings are sprouting up in River North. The latest new development is 9 West Erie, a 10 story tower on State and Erie Streets that is in the pre-construction phase and qualifies as both green and boutique. Green because it incorporated LEED features in design and boutique because there are only 6 units per floor. 9 West Erie is a product of Provence Development, who has more than 25 years of experience in architectural design and can claim success with previous projects Chess Lofts, Astoria Tower and Metropolis.

The units at 9 West Erie come with one to two bedrooms or one bedroom plus den. In synch with the green theme, these condos will have either bamboo or eucalyptus flooring, recycled quartz counter tops and recycled glass backsplash tiles. Low VOC carpets and paint are standard and according to the building website, over 75% of the leftovers from construction will be recycled along with over 50% of the building itself using recycled materials.

But don’t worry that 9 West Erie will ignore your high-tech fix needs. There will be a video security system, Ipod docs and sound systems hard wired into the units as well as optional Jacuzzi and built-in wine refrigerator. It’s a mixture of eco-friendly and ultra cool, which seems to be the latest trend in new Chicago Condos.

[tags]9 West Erie, Chicago Illinois, Chicago Condos for Sale[/tags]

October 13, 2007 – It’s been fair sailing lately for the Fairbanks at Cityfront Plaza, the first tower in a group of three being developed by Centrum Properties. The start of this project was in 2000 when work on the base began, but despite the somewhat drawn out construction process the building is now topped out and deliveries should begin by the end of this year.

Eight stories of an unrealized previous development were worked into the 31 story Fairbanks by creating lofts on floors three to eight and an expansive private plaza above that which allows for private outdoor gardens for the Terrace Homes on floors nine and ten. These units have all of the expected luxury finishes and the building amenities include perks like concierge, maid and laundry services.

Sales for the Fairbanks have been solid and the St. Clair, the second installment of the Cityfront Plaza trio, began marketing this past May. That tower is slated to be 41 stories tall and just as luxurious as its big brother. Centrum hasn’t yet named the third tower in the development plan but has said that it will incorporate some hotel suites into the building.

Stay with us for progress updates on the Cityfront Plaza development as well as other Pre Construction Condos in Chicago.

[tags]Fairbanks at Cityfront Plaza, Chicago Illinois, Chicago Condos for Sale[/tags]

October 12, 2007 – It is a few months past the initial estimate for unit deliveries, but buyers of condos at 30 West Erie are able to move into their new homes now. The building is what developers have started calling a boutique building. The fourteen story mid-rise has 20 ultra luxury condos with only two units per floor.

These condos don’t skimp on amenities. Each comes with three bedrooms and two baths, with the master bath being more than spacious with a luxurious soaker tub and marble details. The kitchen is an eat-in with the standard stainless steel appliance package. An interesting addition is a butler’s pantry complete with its own sink.

The condos also feature a large great room with a cozy gas fireplace, sure to be a favorite spot on a cold Chicago winter evening. Other floor plan perks include a den and not one but two balconies plus gas grill hook up built in. So on the flip side of winter, residents can trade the fireplace for a BBQ outside on a summer afternoon.

The price tag for condos in this River North building isn’t cheap. For between 2,300 and 2,800 square feet of living space the cost is anywhere from $1.1 to $1.6 million dollars.

There are a healthy number of Chicago Apartments available right now if boutique building living isn’t in your plans at the moment. Be sure to check the listings and see what’s out there.

[tags]30 West Erie, Chicago Illinois, Chicago Condos for Sale[/tags]

October 11, 2007 – Sometimes the only place to go is up, and Central Station Development Corporation wants to do just that with two new towers proposed for Central Station. CEO Gerald Fogelson is seeking approval to build the towers 100 feet higher than originally planned and if granted permission by the city, marketing on the first tower could begin in early 2008.

The first of the two new towers proposed, tentatively called Grant Park Tower III, would be 73 stories tall and the second would rise 83 stories and is currently named Grant Park Tower IV. Although the developer wants to add the 100 extra feet to each building, in the end that won’t translate to more units. There are several reasons behind adding height. One is to produce a more attractive, slender and less chunky tower. Another is to maintain better views for the condos in each building while at the same time not obstructing views as much for other buildings. Also the taller and thinner towers are less of a flight hazard for birds.

The two towers of One Museum Park in Central Station have sold very well, and if the condos in the proposed Grant Park Tower III do the same then the developer hopes to market units for GP Tower IV sometime in 2009.

Central Station has been a solid performer in terms of past sales for new projects, so we’ll see how GP Towers III and IV do in terms of competing with All Condos for Sale in Chicago.

[tags]Central Station, Grant Park Towers, Chicago Condos for Sale[/tags]

October 10, 2007 – With more than 50 years of experience under their respective tool belts, Belgravia Group has earned a well deserved reputation as one of the top home builders in Chicago. They are a hands on company, keeping the actual construction process in house with the Belgravia Construction Corporation. Following on the success of projects like 600 N Lake Shore Drive, Union Row, Hartland Park II, and the one of a kind 565 Quincy with its Q Room putting green and bowling alley, they are taking on another project that qualifies as a ‘first’, namely a green townhome development in West Lake View.

The group of 82 homes that will incorporate ‘green’ or LEED standards in construction and energy efficient finishes will be a new undertaking for both Belgravia and Chicago. The eco-friendly movement has gained momentum in condo construction, but this project will take the blue ribbon for the first townhome development to do so.

The townhomes, grouped in an area from Oakley Ave to Oakdale Ave will feature extensive water conservation measures such as a rainwater collection system and energy efficient appliances in the units. Despite the extra expense of this type of environmentally responsible construction, the price tags are not expected to reflect it and will range from roughly $500,000 to $1 million plus.

Always on top of the development game, Belgravia Group may raise the construction standard for Townhouses in Chicago with this project.

October 9, 2007 – Back in August we posted about 50 E Chestnut planning on moving residents in by fall. The plan is right on schedule with Jameson Development ready to close sometime this month on the 21 or so units that have been sold.

50 E Chestnut is a Gold Coast luxury condominium with suites spanning entire floors. The design for this high-end building came from Solomon Cordwell Buenz and later this month potential buyers can check out what it would be like to live there by visiting a costly suite model that takes up all the square footage available on floor twenty-one. This new model is undoubtedly to entice buyers for the rest of the units in the building.

The developer is selling the condos that are still vacant for anywhere from the upper $2 million dollar mark to almost $3.5 million per home. That’s the price tag for ultimate privacy in a luxury building and having a whole floor to yourself. While 50 E Chestnut certainly has all the luxury details in terms of finishes, the Jameson Development building leans more on classic interior details rather than ultra modern design. That may be more in keeping with the traditional feel of the project.

50 E Chestnut may be perfect for someone who craves exclusivity and privacy, but if that isn’t for you or your bank account, there are a lot of Cheap Chicago Condos that are good deals for the price involved.

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