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All Blog Entries by Susan Dickman

Found 30 blog entries published by Susan Dickman.

The West Loop has two big changes happening at 500 W. Randolph block. New York investment trust W.P Carey plans to build a 100,000 square foot establishment at 150 N. Clinton Street. The development will happen on a vacant lot which happens to be next to their 7-story loft building. W.P Carey has been a longtime office landlord in the area and currently occupies the 550 W. Randolph Street building. This property is 227,500 square feet and only has had 1 occupant for 30 years, IRI Data Analytics firm.

Once IRI lease expires at the end of 2020, W.P Carey will begin massive renovations and make the building more modern for potential tech companies to occupy after completion. A spokesperson for the company claims that they will break ground early 2021

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Chicago has had a record number of cranes in the air this past year. However, the new year brings this to an end. A New York based firm, Dodge Data & Analytics, predicts that the construction boom will drop by 10%. Which makes this the third decrease in 4 years, and the biggest since the Great Recession. 

 

It’s difficult to believe this decrease since retailers are consistently looking for industrial space to store goods; rents are skyrocketing, and office space demand has been the highest since 2007. Developers haven’t been able to keep up with these demands. However, real estate investors and developers are being conservative until they figure out how much room they have to truly expand their efforts. 

Michael Newman,

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1000M Tower

The 74-story tall South Loop condo building, more popularly called 1000M and designed by Helmut Jahn, has broken ground. Construction on the tower is expected to take 30 – 36 months. If all goes well, the South Loop tower would officially open mid-to-late 2022.

 

In comparison to other buildings in Chicago, the tower will be the 15th tallest building if completed today, towering 832 feet over Grant Park. However, due to the Vista Tower and One Chicago being in the works, it’ll be the 17th tallest building by the time it’s completed. 323 Units will be available, and some will come with a hefty price tag. A 5,500 square foot penthouse in 1000M has been listed for $8.1 million, which is a higher price tag than the neighborhoods past record of $3.2

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Chicago Skyscraper

 

Credit: Golub & CIM Group/Crains Chicago

 

 

Chicago developer Golub and partner CIM group want to build a skyscraper next to the Tribune Tower. They’ve been making tremendous progress and working to address concerns about traffic if the skyscraper starts construction. Alderman Brendan Reilly says that a deal could possibly be reached “in a couple of months.”  

 

The building would reside in an empty parking lot east of the Tribune Tower. The proposal consists of a mixed condo/hotel tower rising 1,422 feet high. This would make it the second highest tower under the Willis Tower. 

This has motivated the developers of the ambitious Spire development, that did not pass, to go back to the drawing board and

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Looking to retire in a world-class city rich with cultural activity? Chicago, Illinois, may be the perfect place for you.

 

Chicago ranked 86th in the top 100 retirement cities of 180 in comparisons prepared by WalletHub. The “activities ranking” placed Chicago in the #10 spot. The Windy City isn’t just a great place to retire because of cultural interest and many other activities seniors enjoy. You will have several living options for retirement in Chicago, as well.

 

Below, learn why cultural activities and senior living options are reasons enough to place Chicago on your short list of potential retirement cities.

 

Chicago Offers Many Free Cultural Experiences for Retirees

Since retirement means moving from a career with a

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Chicago developer, Habitat, is planning to build in the Fulton River District. Habitat understands that building residential units where big office towers are located is a good idea! Due to two new office buildings opening in the area, they believe the Fulton River District to be the best possible area for their residential project. AND, their building is close to the Fulton Market District, where  Google, McDonald’s and Mondelez are ready rooted. There are also office developments underway that have estimated completion dates of 2021 – 2023.

 

The 343-unit apartment tower will be located at 344 N. Canal Street.

 

The site where Habitat plans to build the tower was once owned by family Cassidy Tire & Service. Habitat recently signed an

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McBrearty Builders are planning to build 18 condos on the corner site of Bronzeville. According to residents in the area, that corner has been vacant since the late 1970s. The firm states that the development will be 3 buildings, each with six units.

The area around this development is Pershing road and Dr. Martin Luther King Drive. There wasn’t much activity in the area until Marianos opened approximately 2 and half years ago. McBrearty Builders have been building in the Bronzeville area for over 17 years now. So, this isn’t their first rodeo.

The buildings are designed by 360 Design Group based in Bridgeport. The buildings will feature private outdoor space, either a balcony or a terrace on the roof of the building or their attached garage.

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Sterling Bay Michigan Ave Tower

 

Seems like 300 N. Michigan Avenue may be getting a new 47-story tower in the middle of all the action! Sterling Bay, without a doubt, has been busy this year. They are currently closing in on final approval for their Lincoln Yards development, the biggest project the area has seen.

The tower plans for Michigan Avenue will include 280 hotel rooms and 290 residential units. This information was given by Alderman, Brendan Reilly. Sterling Bay owns a vacant building on the corner of Michigan and East Wacker. The proposed Tower is supposed to replace  the current building if the project moves forward.

This 523-foot building will consist of 29 floors of residential units and a hotel on the lower 10 floors. The Tower would also include 25,000 square…
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Sterling Bay’s latest tweak made Lincoln Yard buildings less dense and shorter. The revision to their $6 billion mega project was made in hopes of winning City Council approval. Aldermen have expressed that they plan to oppose the development, which is another reason for their revision.

In their new proposal, Sterling Bay reduced their largest skyscraper 650 feet to 595 feet and the developments scope from 15 million square feet to 14.5 million square feet.  On top of that, Alderman Brian Hopkins confirmed that Sterling Bay has agreed to double their affordable housing on Lincoln Yards, which is something he pushed for.

However, Zoning Committee Chairman Alderman James Cappleman (46th) has yet to comment if he is satisfied with the latest changes.

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Photo Credit: Draper & Kramer

A 275-unit tower located two blocks from McCormick Place Convention Center broke ground last week and will open in 2020. The development is a 24-story apartment tower located at 2111 S. Wabash Avenue.  Draper & Kramer, a Chicago Developer, is working on the residential part of the development making plans for a neighboring hotel too.

The development won City Council approval in 2016. The proposed plan at that time,  included the 144-unit hotel that would be on the northwest corner of Wabash and Cermak Road.

Since the proposal, the surrounding area has gotten lots of additions such as a new Green Line station and two other hotels. This spells good news for Draper & Kramer. The firms executive vice president stated

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