November 6, 2007 – One of the more architecturally innovative developments under construction in the area isn’t going up on Michigan Avenue or in River North, but in Skokie, juxtaposed between the Edens Expressway and Harms Woods Forest Preserve. Optima Old Orchard Woods is gaining some well deserved attention for its unique design and selection of luxury homes grouped together in a complex of three towers that house some 655 units.

David Hovey is the developer and architect for Optima and he has created a piece of aluminum and glass eye candy with the trio of interconnecting twenty story buildings. Recessed balconies, structural voids, concrete and glass stair case leading to a roof top garden, interior courtyard, fountain, and lobbies with marble walls are just a sampling of the distinctive qualities Optima Old Orchard Woods displays.

The three connected towers each have a fitness center on the upper penthouse floor, along with dual spas and a large pool. Retail space, including a grocery in tower three and above ground parking make up the lower levels of the complex.

Oak Tower, the first to be built, has two and three bedroom condos available from the high $300,000 to upper $400,000 mark. Elm Tower, the second constructed, also has two and three bedroom units from the mid $300,000 to low $500,000 range. Lastly, Maple Tower will have two to four bedroom condos priced from the high $200,000 range to over $1 million for a penthouse suite. These homes will be delivered through spring of 2008.

Optima Old Orchard Woods goes to show that you don’t have to limit your search for luxury homes to only Chicago Condos. It’s worth your time to branch out and look beyond the usual.

[tags]Optima Old Orchard Woods, Chicago Illinois, Chicago Condos for Sale[/tags]

November 5, 2007 – Huron seems to be a popular name for condominium developments in Chicago. The latest project to use that moniker is The Huron, a new luxury condo coming to River North. State and Huron LLC is the developer behind the project that will be built on the corner of State and Huron Streets.

Designed by Solomon Cordwell Buenz, the twenty-eight story tower could be called a boutique building because of the low number of condos planned per floor. The forty-two units will be placed either one, two or three per floor, and have from 1,676 to 5,819 square feet of space. Some features will include a green roof design that has a Zen Garden with walking paths, lobby with carved marble fireplace and room service. Prices are said to vary from just under $1 million to upwards of well over $4 million.

Sales for The Huron are being handled by the Tricia Fox Group, which has had over $300 million in past sales projects. According to the building website, reservations were taken on the condos in October and sales will begin in mid November.

The Huron developers picked a challenging time to offer up another luxury condominium to buyers. Rather than building less expensive or Cheap Chicago Condos, they are banking on attracting potential buyers who are willing to pay a hefty price for an exclusive home.

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

November 3, 2007 – Cityscape Condominiums launched their sales campaign back in mid July, and according to the construction schedule completion should be sometime in early to mid 2008. This is actually the second time that Westward Development Company has advertised the South Western Avenue project. A previous design had 86 condo units while the current incarnation consists of only 42 condos spread out in a row of six buildings that will stand four stories tall.

The historic Saint Ben’s neighborhood is the location for Cityscape. Chris Manfre, an architect with the Proteus Group, designed the original version but this scaled down final product is the work of Laszlo Simovic Architects. But some resemblance to the earlier design can be seen and one prominent classic feature that made it through is the clock tower located on the far south building.

The May issue of New Homes Magazine listed Cityscape among the best new homes for 2007. The nod was in recognition of the effort made to add architectural interest to the project by varying the facades of the four buildings and avoiding a repetitive look.

Sales are being handled by Century 21 Sussex & Reilly. The condos may be going up on lots where Charlie Chaplin’s studios once stood, but the marketing campaign isn’t going to play like a silent movie. The condos are listed as having two to three bedrooms and baths with a price of around $370,000 to $640,000. Amenities include a private elevator, sun deck on the roof and private balconies.

Living in historic Saint Ben’s may be a dream come true for some buyers. If you’re drawn to a little more active neighborhoods, then you might want to check out the Chicago Condos in Streeterville.

[tags]Cityscape Condominiums, Chicago Illinois, Chicago Condos for Sale[/tags]

November 2, 2007 – In a move that partly reflects current market conditions, Prime Realty Group is moving forward with plans to convert the lower floors of 330 North Wabash, formerly known as the IBM building, to a luxury hotel. This follows on the abandoned plans from last year to fund a condo conversion of the building that was estimated to cost $318 million. With declining sales and stiff competition among luxury condo developments, the market for hotel suites looked more promising for this venture.

330 North Wabash was designed by architect Ludwig Mies van der Rohe and construction was completed back in 1972. It is the final office building in the nation to be designed by him and developer Prime wants the Chicago Landmarks Commission to designate it as a landmark. This would qualify the building for a number of tax incentives and credits, which would in turn help with the development costs.

The proposed luxury hotel would have some 300 suites housed on floors two to fourteen. Those hotel units would fill the spaces left by IBM, who relocated to a building on Wacker, and a law firm that has plans to relocate to a new building on Clark.

Prime Realty Group is one of several Condo Builders in Chicago that are currently converting office, retail or warehouse space to residential units. When done well, these types of developments are often very attractive to buyers.

[tags]330 North Wacker, Chicago Illinois, Chicago Condos for Sale[/tags]

November 1, 2007 – Parking in the Loop is valuable, so much so that developer American Invsco is offering to buy back, at a profit to the customer, any space they include in their two fold incentive package for 200 North Dearborn. The parking spaces are valued at $45,000 and are being offered for only $5,000 to those who purchase certain remaining units at the building. And to back up their assertion that the spaces are worth that much, the developer will buy back unwanted spaces for $35,000. Not a bad profit for the home owner.

The second incentive offered is a package deal of twelve months paid taxes and condo assessments if you buy immediately. Another option if you decide to nix the parking space altogether is to have taxes and assessments paid for two years. The final total savings depends upon which unit you buy, with the remaining stock available ranging in price from about $230,000 to $535,000.

The 47 story, 309 unit condo conversion is about 33 percent sold, according to the developer. Most of the one to two bedroom condos have a private balcony. The kitchens come with custom oak cabinets that can be upgraded to maple or cherry, white appliance package or stainless steel upgrade and tile or marble flooring. Ceramic baths with separate tub and shower, large master bedrooms, 24 hour doorman, pool, fitness center, dry cleaning and valet service round out the amenities.

200 North Dearborn is a good example of a condo conversion success story. You can find more details about other Downtown Chicago Condos by following the link.

[tags]200 North Dearborn, Chicago Illinois, Chicago Condos for Sale[/tags]