Chicago Pre-Construction Condos
Get Up To Date Pricing & Availability
As Of May 21, 2013
What does Pre-Construction Really Mean? Buying preconstruction, or offplan, means that you're buying before the construction has been constructed. You are buying and relying off of the blue prints -- and architectural plans. In many cases, developers will offer you a substantial discount to buy preconstruction, and that's because your pre-construction purchase helps build investor confidence along with the funding to keep the development going.
Another factor is that bank financing for pre-construction is typically dependent on a certain amount of presales. The developer's goal; to hit that number as soon as possible. That's because the shorter the length of the project, the greater the return on investment (ROI).
This describes the balancing act
between you the pre-construction
buyer, the developer, the
investors and the bank.
To large extent, many preconstruction
buyers don't buying
for personal use, but rather as an
However, given the depreciating
Chicago real estate market -- this
explains why there is currently so
little Chicago pre-construction.
Below is the most up to date list
of Chicago Pre-Construction
- 10 East Delaware - 10 E Delaware Pl, 60611 - Gold Coast. It offers a combination of classic architecture and the most desired amenities features and services.
- 1349 South Wabash - 1349 South Wabash, 60605 - 15 stories, 78 condo units in South Loop.
- 1440 South Wabash - 1440 South Wabash Avenue, 60605 - South Loop, near Coliseum Park
- 1555 Wabash - 1555 S. Wabash, 60605 - South Loop. It is a contemporary high-rise condo tower with 14 stories and will offer 176 units for sale.
- 1600 Museum Park - 1259 S. Indiana Avenue, 60605 - South Loop, It will successfully blend new construction and luxury homes with the tranquil living style of old fashioned neighborhood life.
- 2100 - 2100 South Indiana Ave., 60616 - South Loop. It has 27 stories, 163 condo units, 42 lofts.
- 235 West Van Buren - 235 W. Van Buren, 60607 - Loop. It has 46 stories, 714 condo units.
- 2441 W 36th St - 2441 W 36th St, 60632 - McKinley Park. This development offers a total of 134 townhomes, all with floor plans that are perfect for larger families.
- 33Six - 336 S Morgan St., 60607 - West Loop. The 11-story tower offers 70 condominiums starting in the low $200s.
- 826 W 35th St - 826 W 35th St, 60609 - Bridgeport.
- 9 West Erie - 9 W. Erie St., 60610 - River North. The building offers 11 floors, with 60 condominiums and the prices start at $270,000.
- Aqua Lakeshore East - 375 East Wacker Drive, 60601 - Loop. It is part of a community of six luxury highrises already launched in the Lakeshore East District.
- Aristocrat Tower - 2028 South Prairie Avenue, 60616 - South Loop. Here, you can find the luxury of contemporary residences plus exquisite art deco design and elegant architecture.
- Astoria Tower - 8 East 9th St., 60605 - South Loop. 240 condos with balconies.
- Azure Tower - 1330 Michigan Avenue, 60605 - South Loop. it is in the comfortable Lake Shore District in the proximity of Northwestern University-Chicago.
- Bankside - 2951 N Oakley Ave, 60618 - Lakeview. Belgravia Group has announced plans to build these 33 LEED certified townhomes along the river in Lakeview.
- Bluewater 5440 - 5440 N Sheridan Rd, 60640 - Edgewater. 1,2 and 3 bedroom condominium, townhome and beach home residences.
- Broadway 3030 - 3030 N Broadway, 60657 - Lincoln Park. This mixed-use development will house a new Dominick's and luxury condominiums.
- Bronzeville Condominiums - 3700 S Indiana Ave, 60653 - Bronzeville.
- Canyon Ranch - 680 North Rush Street, 60611 - in the heart of the Cathedral District on the Near North Side.
- Catalina - 2530 N Ashland Ave, 60614 - Lincoln Park.
- Catalpa Square - 2409 W. Catalpa Ave, 60625 - Budlong Woods. This project offers a total of 24 units, with floor plans ranging from two to three bedrooms.
- Chicago Spire - 400 N Lake Shore Drive, 60611 - Loop. It is the next world's tallest residential building.
- Chicago Spire 2 - 400 N Lake Shore Drive, 60611 - Loop. This building is a mansion of condo towers, a king of skyscrapers.
- Cityscape Condominiums - 3901-3939 North Western Avenue, 60618 - North Center, one of the most popular areas of the north side of Chicago.
- Eco18 - 1818 S Wabash Ave., 60616 - South Loop. It is being touted as a cutting edge green building and will offer 93 condominiums in 12 floors.
- Flair Tower - River North, 60610. Flair Tower is one of the newest apartment buildings announced for River North, and will be located at the northeast corner of Erie and Franklin.
- Garfield Botanical Homes - 3500 W Carroll Ave, 60624 - East Garfield Park.
- Ivy Hall - 1440 South Halsted, 60607 - University Village. It will offer a wide range of choices for residents looking to live just a few miles from some of the most popular destinations in the city.
- Jackson Square at West End - 300 S. Western - West Loop. Located minutes from downtown and the West Loop, Jackson Square at West End features single-family homes, duplexes and condos.
- Lake Park Gateway II - 1223 E 46th St, 60653 - North Kenwood.
- Legacy on Fullerton - 1540 W Fullerton, 60614 - Lincoln Park. Legacy on Fullerton offers a total of 18 luxury units, all with three bedrooms.
- Lexington Park Condominiums - 2138 S Indiana Ave, 60616 - South Loop. It will have 297 condominiums in its 35-story tower and 36 lofts in its adjoining 7-story building.
- Lincoln Park 2520 - 2520 North Lakeview Ave., 60614 - Lincoln Park. It has 314 condominiums and 13 townhomes.
- Lincoln Point - 5870 N. Lincoln Ave., 60612 - Peterson Woods. Construction on this 30-unit building will begin in Spring. The sales office has just recently opened.
- Logan Square Condominiums - 2454 N Lawndale Ave, 60647 - Logan Square.
- Mandarin Oriental - 160 N Stetson Ave, 60601 - Loop. This 74 story building will have a total of 500 residences for sale, including penthouses, with stunning views of Millennium Park.
- Marquette Village - 7400 S Rockwell St, 60629 - Marquette Park.
- McKinley Park Manor II - 3803 S Hermitage Ave, 60609 - McKinley Park
- McKinley Park Village - 3600 S Western Ave, 60609 - McKinley Park.
- Museum Park Place - 259 S Indiana Avenue, 60605 - South Loop. It has 23 stories, 187 condo units, 7 rowhomes, step-out balconies and floor-to-ceiling windows that fill your home with light.
- One Chicago - 111 North Sangamon, 60607 - West Loop. A total of 64 condominiums are available at One.
- Palmolive Building Condos - 159 E Walton St, 60611 - River North. With the beautiful Art Deco architecture, it will be the most sought after luxury properties available on the market.
- Parc Huron - 469 W. Huron St., 60610 - River North. It has 21 stories, 221 condo units with prices start at $301,990.
- Park 1000 - 1000 South Michigan Ave., 60605 - South Loop. It has a total of 350 condominiums available at in the 40-story building.
- Park Boulevard - 3845 S State St, 60609 - Bronzeville. The homes, with units ranging from a 673 to 2600 square-foot, are outfitted with every amenity to provide much comfort and elegance.
- Park Kingsbury - 660 North Kingsbury, 60610 - River North. It has 5 stories, 50 condo units.
- Parkside of Old Town - 465 W Division Street, 60610 - Cabrini-Green. It will provide 790 homes that will be a combination of market-rate, affordable, and public housing.
- Rainbo Village - 4836 North Clark Street, 60640 - Uptown. It offers a mix of lofts, duplexes, condos, and townhomes and more than 15,000 square feet of retail space.
- Riverside Homes - 259 W 31st St, 60608 - Bridgeport.
- Roosevelt Square - 1200 W. Roosevelt, 60608 - West Loop. It offers 2-3 bedroom townhomes of 1,819 - 2,969 square feet each.
- Row 2750 - 2750 N Lakewood Ave, 60614 - Lincoln Park. This enclave of 11 residences located at 2750 N. Lakewood Ave has nine row homes and two duplex condominiums.
- Silver Tower - 303 W. Ohio Street, 60610 - River North. This incredible glass, concrete and metal structure will offer 233 residential units.
- Solstice on the Park - 5526-5540 S. Cornell Ave., 60637 - Hyde Park. This unique glass and steel tower will be one of the most interesting additions to the Chicago skyline.
- SoNo - 1454 N. Dayton, 60622 - Lincoln Park. The units are arranged over the area of the projects’ two identical towers, which rise 28 floors each.
- St. Clair at Cityfront Plaza - 240 E Illinois Street, 60611 - Streeterville. It will offer 261 condo units starting $380,000.
- Superior 110 - 110 W Superior St, 60610 - River North. It will have 62 units ranging from 1150 to 2829 square feet, also heated garage parking is available beginning at $36,000 per space.
- Terrazio - 1935 S Wabash, 60616 - South Loop. It offers one-, two-, and three-bedroom condominiums in 7-story building.
- The Ashby - 3844 N. Ashland Ave., 60613 - Lakeview. It has 2 bedroom units with prices between $425,000 and $500,000.
- The Catalyst - 123 N Desplaines St, 60661 - West Loop. It will offer 217 condos range from one to three bedrooms with optional den.
- The Element Condominiums - 2124 N California Ave, 60647 - Logan Square. The developers are offering several deals for the first 10 buyers: free upgrades, a heated bath floor, and interior design help from professionals, a free home theater, free assessments for six months, and a free parking space.
- The Grand Terrace - 405 E Oakwood Blvd, 60653 - Bronzeville. A total of 25 one-bedroom units and 16 two-bedroom units are available.
- The Homes of Rivers Edge - 2801 North Oakley, 60618 - Lakeview. This 6 stories building will offer 38 condo units and 11 townhomes.
- The Huron - 8 E Huron Street, 60611 - River North. This buiding has already 19 of the 47 units reserved.
- The Legacy at Millennium Park - 21-29 S LaSalle Street, 60603 - Loop. This condominium will feature glass architecture with spacious balconies offering panoramic views of the city skyline, Grant Park, Millennium Park and Lake Michigan.
- The Mondial - 900 West Huron Ave., 60622 - River West. The 15 story building offers 142 condominiums.
- The Parkhomes at Lakeshore East - 430 E Waterside Drive, 60601 - Lakeshore East. This is a new development steps away from The Lake, Millennium Park & Grant Park.
- The Peshtigo - 515 N Peshtigo Ct, 60611 - Streeterville. This 57 story condo development is scheduled for completion in 2010.
- The Row Homes of Printers Row - 777 S. Dearborn St, 60605 - South Loop. It is a brand new development from Paramount Homes, which also build Bucktown Station.
- The Winchester - 3175 N Hudson Ave, 60657 - Lakeview. It will offer units with 2-3 bedrooms from $389,000.
- Trio Condominiums - 650-660 W. Wayman, 60661 - West Loop. This development offers a total of 209 condominiums.
- Trump Tower Chicago - 330 North Wabash Ave., 60611 - River Norh. It will offer 472 luxury condominiums with a full view of the Chicago skyline, the lakefront, and the Chicago River.
- Vision - 1624 W Division St, 60622 - Bucktown. This four-story glass and steel building will offer a total of 33 units.
- Walton on the Park - One West Walton Street, 60610 - Gold Coast. This prohect will have two towers which will be 37 and 32 stories tall and will have about 450 condos in all.
- Waterview Tower on Wacker - 111 W. Wacker, 60601 - Loop. This tower will encompass a massive 82 stories, all the units possessing 5 star quality services, showcasing extravagant interior design and high end amenities.
- Western Vue - 4000 S Western Ave, 60609 - Canaryville.
- XO Condominiums - 1712 S Prairie Avenue - South Loop. The construction is planned to have 487 units in two towers and will cost about $250 million.
Sales of Chicago condos may be down and developers are launching fewer projects, but there are still a large number of new buildings under construction. New pre-construction Chicago condos are going up in almost every neighborhood, including the Gold Coast, Lake Shore Drive, River North, Streeterville and the Loop areas to name a few. There are a variety of incentives being offered and great deals in pricing for these pre-construction condos. With a little research and some comparison shopping, chances are you can find exactly what you are looking for in a home at an attractive price.
Pre-construction Chicago condos are condos that have been approved and are in the planning or early construction stage. Financing for the development is usually secured sometime after the unit sales for the project pass the 50% mark. There are several benefits to buying Chicago condos in the pre-construction stage. You will have a wider selection of floorplans and unit locations from which to chose. You normally get to pick out finishing details such as flooring, kitchen cabinets, appliances and bath fixtures. Some developers even offer free parking, free assessments for a set time or even a lock on interest rates. And because new developments usually take anywhere from two to five years to complete, they are great for buyers who plan to retire in a few years or couples expecting their family to grow.
Another point to consider before buying Chicago condos in the pre-construction phase is the developer's project history. Make sure the company is reputable and has a record of delivering quality homes. Virtually every project will have a sales center where you can get detailed information first hand and usually tour a furnished model. The model is the best way to see how the units will look when finished. The completed units may not be identical to the sales model, but the interior finishes should be. Between that and the floorplans, you can get an accurate representation of the condos. Also bear in mind that sometimes a developer will offer price reductions to move the last few units in a building that is nearing completion.
You can find high-quality pre-construction Chicago condos in prime locations, and Best Chicago Condos can help you do your research and find the home you’ve always wanted.