Monthly ArchiveApril 2011



chicago-condos & Chicago Real Estate pcherry on 13 Apr 2011

Rentals Now Available At Walton On The Park

April 13, 2011 - It didn’t take long for the new owners of Walton on the Park to find a marketing firm and start advertising rental rates for the luxury Chicago condos in the 31 story Gold Coast tower. It has only been a couple of weeks since Chicago real estate developers Ronald Shipka and Richard Stein of Enterprise Cos. and Mesirow Real Estate sold Walton on the Park to the Dart Container Corporation family. Mr. Shipka and Mr. Stein were on the verge of surrendering the high-rise, which is located on 2 West Delaware Street, to lender ST Residental in adeed-in-lieu of foreclosure agreement. But according to Crain’s, the developers managed to pull out a save and sell the tower for the $82 million owed on the loan.

ST Residential took over the loan from the failed Corus Bank and with just 33 out of 189 Chicago condos closed in the tower, Mr. Shipka and Mr. Stein most likely weren’t going to be able to make the March payback date or even the 2012 extension.

Now Coldwell Banker is is handling leasing the condos in this Gold Coast high-rise. The units are pretty spacious with an average of 1,464 square feet. The monthly rent for tne bedroom condos starts at $2,700 and includes a single indoor parking space. The monthly rental rates for the two bedroom condos is starting at $3,600 and that also includes one parking space. For the three bedroom condos the monthly rental rates start at $6,000 and includes two indoor garage parking spots.

So if you’re looking for Gold Coast Chicago condos for rent you should check out what Walton on the Park has to offer.

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chicago-condos & Chicago Real Estate pcherry on 12 Apr 2011

New Apartments Coming To Old Town

April 12, 2011 - Chicago real estate developer Hines Interests L.P. has just landed a $59 million construction loan from Northwestern Mutual Life Insurance Company for an 18 story apartment building they are ready to break ground on soon. According to a Crain’s report, the apartment tower will go up on 1233 North Wells Street in Old Town and will have 250 rental units plus 38,000 square feet of commercial retail space.

Construction on the Wells Street tower is expected to wrap up next fall, according to the article. Senior Hines VP Greg Van Schaack was quoted as saying that, “These are going to be first-class apartments.” Though he didn’t specify, he said the units are going to have high-end finishes above the average Chicago apartment.

The article went on to say that two more larger apartment towers are already under construction and seven more are in the planning stages. There were over 2,500 downtown rental units that became available last year and about two-thirds are already leased.

If you don’t want to wait for any of the new rental towers to be completed, there are plenty of Chicago apartments ready for move-in right now.

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chicago-condos & Chicago Real Estate pcherry on 11 Apr 2011

Polar Plunge Saturday At Alta At K Station

April 11, 2011 - If you’re a fan of swimming in chilly water, like to donate to a worthy cause and have friends or family living at Alta at K Station or live there yourself, the tower’s first annual Polar Plunge will take place this coming Saturday (April 16th) at 10am. The proceeds will go to the American Red Cross to benefit victims of Japan’s earthquake and tsunami, according to a press release from the developer. This event also marks the opening day for the pool and Jacuzzi at the tower.

The Polar Plunge will take place in the outdoor pool on floor 8 at 10am but the event runs from 9am to 12pm that day. Participants and spectators will be asked to make a $5 donation to attend or watch. Non-alcoholic drinks will be provided for everyone and for those plungers over 21 there will be beer and Bloody Mary’s available. If you’re among the first to arrive you could score a free chair massage and the first 50 plungers to register will get a free t-shirt.

Alta at Ka Station is the largest Gold LEED certified apartment complex in the U.S. Located on 555 West Kinzie Street, Alta has a mix of studio to three bedroom apartments. The Club K is the 32,000 square foot amenity area on floor 8 of the tower. The club has a fitness center, lounge, outdoor spa and pool, firepit, grill area, cabanas, sun terrace, sports court, men’s and women’s locker rooms, party room, business center, movie room with 22 seats and Wi-Fi access.

Lease rates are listed below.
Studios - $1,286 to $1,685 per month.
One Bedroom - $1,522 to $2,026 per month.
Two Bedrooms - $2,420 to $2,676 per month.
Three Bedrooms - $5,133 and up per month.

You can find more great Chicago apartments by following the link.

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