November 17, 2007 – The community meeting with developer Antheus Capital that was scheduled for November 14th was instead held the 15th at Bret Harte School. There was a good turn out and the overall reaction to Solstice on the Park was favorable. The Hyde Park community seemed supportive of the building, with the chamber of commerce all for the increase in residents and hopefully shoppers. That said, the alderman will most likely lend her support as well.

The only major point of question was about the close proximity of the school. In answer to that, Antheus said they plan to restructure and realign the existing alley and create more drop off room. They also intend to develop additional outdoor space for the school.

The lack of apartments, along with parking issues was discussed at a previous public meeting on October 17th. There, Eli Ungar from Antheus stated that apartments in Cook County are assessed at around 30% more than owner occupied condos and that made financing anything but condos at that site out of the question. But over 50 fixed-price units will be offered in a building the developer bought next to Solstice.

There will be six levels of parking at Solstice. The extra spaces not used by residents of the building will be for those at Windermere House who lost their spots and some will be available for public use. Where the displaced cars will go during construction wasn’t completely resolved.

If it does win approval, Jeanne Gang’s eye-catching saw tooth tower with balconies angled to deflect the sun could start marketing in January and break ground in mid 2008. Until then, you can check out Aqua Lakeshore East, the other Chicago Condo that she designed.

[tags]Solstice on the Park, Chicago Illinois, Chicago Condos for Sale[/tags]

November 16, 2007 – Rumors were floating around a couple of months ago, but confirmation finally came that Hom Chicago, which had previously been named Aristocrat Tower, has been cancelled. The tower’s first name was a musical tribute, much like Chess Lofts paid homage to the Chess recording label. The 25 story building would have contained 146 condos and included townhomes grouped around the base on the west side.

Developer William Warmen said in an article in Crain’s that he is refunding the purchase price 35 buyers paid for units in the now defunct project. Citing a slowing market, he is offering the South Prairie Avenue site for sale at $12 million but won’t rule out launching the project again in the future.

Appraisal Research Counselors reported that by mid-year developers had either dropped or delayed projects totaling some 485 condos. With empty condos that haven’t sold increasing more than 50% in the past two years plus a 17% increase in rent it has hastened the cancellation or restructuring of several projects.

D2 Realty Services switched gears and changed a 600 unit South Loop condo development to a 600 unit rental apartment complex. Lennar, who holds the number two spot in the U.S. home building category, recently sold the site they had planned to develop into a 1,000 condo complex. AvalonBay Communities from Virginia bought the parcel and plans to break ground in 2008 and put up three apartment buildings with close to 1,000 units. And Fifield, developer of K Station, plans to add two more apartment towers to that rental complex in the West Loop.

It looks like there may be a construction boom of Chicago Apartments over the next couple of years.

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

November 15, 2007 – Another project that received recognition from New Homes Magazine this year is Cornelia Court. The magazine named it Best Townhome Development of 2007, and Anchor General Construction has worked pretty hard on this project to earn that honor. The 3001 West Cornelia Avenue development is definitely a nice addition to the Avondale area.

The 63 three story townhomes are going up in stages and a landscaped park measuring over 10,000 square feet is ready for the first residents to enjoy while there is still a little autumn weather cooperating. The first two phases have twenty-two homes. The third will have twelve townhomes and the fourth and final phase is planned for the last nineteen homes. Phase two homes are expected to be ready for move in either by or before the end of the year. A $10,000 incentive of the buyer’s choice of upgrades or a buy-down on the interest rate of the loan was being offered on the last few homes available.

The exteriors of the homes at Cornelia Court are brick and natural stone. All of the units have an attached two car garage and a porch located off the second story creates a unique outdoor space for relaxing. The townhomes come with nine to ten foot high ceilings, limestone or marble baths and custom kitchen cabinets. With from two to four bedrooms and two and a half to three and a half baths, the homes rack up a spacious 2,242 to 2,904 square feet of living space.

Cornelia Court may be the top townhome development of 2007, but if you’re in the market for something a bit less roomy you can probably find your own pick for best Chicago Condo Lofts of the year.

[tags]Cornelia Court, Chicago Illinois, Chicago Condos for Sale[/tags]

November 14, 2007 – The Mondial, a 15 story tower being built on 900 West Huron, broke ground back in mid August and foundation work is following. The River West project by Citta Development has some distance to go, but its target date of 2009 for completion should be met without any problems. The current estimate is roughly sixteen months for construction and two years before move in.

There will be a mix of 142 lofts and condos, all with balconies, overlooking the grounds and vibrant neighborhood. The breakdown of units is 24 lofts, 26 one bedroom units, 14 one bedroom plus den, 68 two bedroom units, 9 three bedroom condos and 1 spacious four bedroom suite. The square footage runs from 676 all the way up to 3,099 with prices anywhere from $230,000 to $950,000.

Besides the luxury interior unit finishes such as GE appliances, marble bathrooms and state of the art security, the building will have a 24 hour doorman and a fully landscaped roof top deck. There will also be a posh community room on the penthouse level for residents to use. The project also includes a professionally landscaped park with benches and mature plantings.

The Mondial joins the growing list of Chicago Luxury Condos that are closing out 2007 by digging in and rising up.

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

November 13, 2007 – Parkview West, an MCL Companies development, is topped out and as of early November the vertical rows of yellow balconies were being installed. That color dotted against the tower’s blue glass is an interesting combination and certainly gives the building a bit of character. Solomon, Cordwell, Buenz and Associates designed the 47 story high-rise on 435 East Illinois and all construction is expected to be complete sometime in the first quarter of 2008.

Parkview West and Parkview East share an underground parking garage and also a two acre oasis in the form of a landscaped park located on top of that garage. It’s a surprising and welcome escape for residents when they need a little recharging. There is a nice expanse of green space, plenty of trees and planted gardens, plus lots of walking paths that wind around fountains and flowers with benches scattered along the way so you can sit back and take it all in.

The 268 units have from one to three bedrooms. There doesn’t seem to be much left wanting at this development. The condo finishes are first class with European style faucets in the kitchens and baths, KitchenAid appliances, whirlpool tubs, walk-in closets, 24 hour doorman and fitness center plus resident entertainment rooms. There is even a dry cleaning service on hand.

Parkview West, like the yellow balconies lighting up the tower’s exterior, is a bright spot in the River East complex and adds a nice selection of homes to the Chicago New Construction Condos on the market right now.

[tags]Parkview West, Chicago Illinois, Chicago Condos for Sale[/tags]

November 12, 2007 – With less than two months left in 2007, more condominiums are wrapping up construction. One project completed this past summer is The Vic Condos. This 3140 North Sheffield building that sits across from the Vic Theater was developed by Joseph Freed and Associates, designed by Fitzgerald Associates Architects and built by Walsh Construction. That trio of companies produced a building that garnered a first place Gold Key Award in the Superior Design and Construction category and a second place Silver Key Award for Architectural Design from the Home Builder’s Association of Greater Chicago this year.

The Vic’s website states sixty percent of the condos have sold. The seven story building takes up a half a block and contains 51 two and three bedroom units. The exterior of the building has a classic look with limestone and brick, and the interiors have a classic feel as well. The hardwood flooring is made from solid oak and uses wider boards than regular wood flooring. The ceilings are ten feet in height, kitchens are chef quality, baths are marble and units have a vented gas fireplace. The excellent balcony views and one heated indoor parking space are standard.

Joseph Freed and Associates is the largest privately owned development company in the Midwest area and The Vic showcases their talent for developing housing that attracts buyers. The condos are large with between 1,300 and 2,400 square feet of living space. With ten inches of concrete between the building floors it will be quiet enough to make you think you’re the only one living there.

Besides The Vic in Lakeview, you can find a wide selection of luxury Gold Coast Chicago Condos that are ready for move in.

[tags]The Vic, Chicago Condos, Chicago Condos for Sale, Vic Condos[/tags]

November 10, 2007 – The Marquee Michigan Avenue website construction update announced that the dry in of the building roof was completed in late October. It also said that the drywall in the condos was up through floor 16 and cabinets had been installed up to floor 9. The 26 story tower, located at 1454 South Michigan Avenue, was topped out in late August and the units are expected to be delivered sometime in January of 2008.

Sedgwick Properties also announced a few days ago that they were offering a pretty good incentive for anyone who purchased the next two condos in the building. The developer is willing to deduct $15,000 off the purchase price. That’s probably enough motivation to get a few people to the sales office to have a look at the model.

A private online auction is being held between November 7th and December 6th where condo buyers can bid for prime parking spots. This is being done to keep the distribution fair for those who prefer a certain floor, proximity to elevators or stairs or want an oversized spot. The minimum bid is set at $500. If you end up being outbid or just decide not to participate, a random parking space will be assigned to you from the remainder of the 240 available.

The one to three bedroom units at Marquee come with the expected amenities and finishes including red oak hardwood flooring, pre-wiring for an electronics touch screen control system, doorman and dog run.

While the condos at the Marquee aren’t what you would call Cheap Chicago Condos, with the current discount available it does make them a good buy and it never hurts to do a little window shopping.

[tags]Marquee Michigan Avenue, Chicago Illinois, Chicago Condos for Sale[/tags]

November 9, 2007 – Jeanne Gang is probably best known for the undulating design of Aqua. But if the new tower she has designed eventually makes it past drafting paper and on to pilings, it may cause as many waves as Aqua.

The design has been called “saw tooth” by a few people, and with the angled glass balconies that jut out to create a series of continuous structural window shades, that term is pretty accurate. The whole process of figuring out what degree, both in glass angle and interior comfort level, was done using a computer model. The concept sounds almost as complicated as using global positioning devices to get the ripples in Aqua right.

Solstice on the Park started out as Windermere West. It began as a Hyde Park proposal from Antheus Capital to construct a 26 story tower with 142 units on a parking lot next to the Windermere House apartment building. It was met with skepticism because of the height, concerns about traffic and the fact that the Bret Harte Elementary School is nearby. A community meeting is scheduled for November 14th and the city could rule on the zoning request shortly thereafter. If approved, Solstice on the Park could be completed in 2009.

It’s fitting that the name was changed to Solstice as we move closer to that date on the calendar. Maybe by the time we hit that autumnal equinox and the longer winter nights roll around we’ll know whether or not Solstice on the Park is going to saw through the ice and break ground by spring. In the meantime, you can spend those long winter evenings browsing through All Condos for Sale in Chicago when you need something to do.

[tags]Solstice on the Park, Chicago Illinois, Chicago Condos for Sale[/tags]

November 8, 2007 – A story reported first by the Chicago Sun-Times and then Chicago Real Estate Daily brought to light what could be another setback for the Chicago Spire project. Apparently Garrett Kelleher of the Shelbourne Development Group had previously paid $500,000 to the neighboring River View condo association for easement rights on an adjoining parcel of land. The condo association contends that they weren’t aware that anything other than utility lines would be installed and weren’t informed that Kelleher intended to use it for part of the Spire’s foundation. Using it for that would likely cause a group of River View townhomes to settle about two inches, although Kelleher claims no structural damage would occur.

This revelation is unacceptable to the condo association. They want to revoke the easement agreement and have supposedly refunded the half million dollars. They have also hired an attorney and filed a complaint with the city hoping to halt the issuance of the construction permit for the foundation. As it is, the condo association says that preliminary construction is literally shaking one of the two River View towers right now before major construction has even begun.

With sales delayed until January and no primary source of funding yet in place, the Spire seems to keep finding itself on shaky ground. But other Pre Construction Condos in Chicago have overcome obstacles before, so let’s hope that this one finds solid footing soon.

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

November 7, 2007 – This past summer, New Homes Magazine gave Silver Cloud Condominiums their vote as Chicago’s best new condo conversion project. The name Silver Cloud is a nod to the vintage Rolls Royce model car from the ’50s, and the condos hope to prove themselves a classic as well.

Creative Designs Builders is the developer for this project. They started out with a 1920s apartment building located on 5346 South Cornell Avenue in historic Hyde Park and are bringing the interiors into the 21st century while preserving the decorative terra cotta and traditional limestone and brick facade. The end result is 72 condominiums with two bedrooms and baths with a price range from the $230,000 to $430,000 dollar mark.

If Silver Cloud Condos are implying that they are the Rolls Royce of conversions, then the amenities had better be top of the line, and they are. The homes there have the expected finishes like stainless steel appliances, granite counter tops, building movie room, fitness center and dog run. But they also have the unexpected eucalyptus flooring, Italian cabinets, bathroom faucets made by Tenda Dorica and unique porcelain tile in a mosaic style. The uppermost condos even have lofty 13 foot high ceilings.

Silver Cloud Condominiums may very well be putting the silver lining back into condo conversions. With dozens of new construction projects being built all the time, it’s nice to see an existing vintage building get some attention and put back into usable form. If you explore some of the older historic areas like Hyde Park you can find classic renovations as well as Rent to own condos in Chicago.

[tags]Silver Cloud Condominiums, Chicago Illinois, Chicago Condos for Sale[/tags]