Monthly ArchiveJune 2011



chicago-condos & Chicago Real Estate & Chicago Homes pcherry on 14 Jun 2011

New Owners Plan To Make Lofts At Roosevelt Retail Space More Friendly

June 14, 2011 - Ever since switching to rental, the Lofts at Roosevelt Collection has had a lot of success filling up its 342 units. In fact, right now this Chicago real estate development is over 90% leased. But the 398,324 square feet of retail space is another story. Originally billed as the Shoppes at Roosevelt, the commercial space was supposed to house more than 40 retailers. As of today, the only tenant is the Kerasotes ShowPlace Theatre. That leaves around 300,000 square feet that is still empty. But according to a recent Crain’s article, that is going to change soon.

McCaffery Interests of Chicago and Canyon-Johnson Urban Funds of Los Angeles purchased the Lofts at Roosevelt from Centrum Properties for somewhere between $160 to $175 million. That is around half of the cost of the development. But it may not be such a bargin if the new owners can’t rent the retail space. They have a plan though, according to the article, and that is to take down some of the buildings in the center of the development and convert it to a landscaped green space that will include a public plaza, water features and playgrounds for kids.

Developer Dan McCaffery was quoted in the article as saying that, “In its present condition, it’s not very inviting. It’s not very pedestrian-oriented and it doesn’t strike you as a place to quote-unquote gather. If we can do things that make it more of a place to gather, there is a market for that down there.”

McCaffery and Canyon-Johnson are supposedly trying to get about $150 million in debt financing for Roosevelt, with a payback term of three to five years, according to the article.

As we said, there are still a few units left for rent at the Lofts at Roosevelt. You can also find some other nice Chicago lofts for lease if you don’t care for all the upcoming demolition and construction at Roosevelt.

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chicago-condos & Chicago Real Estate & Chicago Homes pcherry on 13 Jun 2011

Penthouse Apartments For Lease At Burnham Pointe

June 13, 2011 - In our last post we told you about the condo finishes at Burnham Point and listed some of the units available for lease at this Chicago real estate development located on 730 South Clark Street. In this post we’ll go over the building amenities and list some of the larger units for rent.

Residents at Burnham Point have a 24 hour doorman, fitness center, clubroom with catering kitchen, business center, spa, landscaped terrace, sun deck with grilling area and a rose garden.

Below are a couple of penthouse units that are available for rent as well as some two bedroom condos.

Penthouse Unit #2710 / 2078 Sq Ft / 2BR / 3 Bath / $5722 Per Month / Available Now
Penthouse Unit #2807 / 1352 Sq Ft / 2BR / 2.5 Bath / $3725 Per Month / Available Now
Unit #1510 / 1046 Sq Ft / 2BR / 2 Bath / $2323 Per Month / Available Aug 2
Unit #0403 / 1191 Sq Ft / 2BR / 2 Bath / $2805 Per Month / Available Now
Unit #1303 / 1191 Sq Ft / 2BR / 2 Bath / $2805 Per Month / Available Now
Unit #0803 / 1191 Sq Ft / 2BR / 2 Bath / $2805 Per Month / Available Now
Unit #0504 / 1319 Sq Ft / 2BR / 2 Bath / $3050 Per Month / Available Now
Unit #0304 / 1319 Sq Ft / 2BR / 2 Bath / $3050 Per Month / Available Now
Unit #1904 / 1319 Sq Ft / 2BR / 2 Bath / $3050 Per Month / Available Jun 16
Unit #1409 / 1262 Sq Ft / 2BR / 2 Bath / $2792 Per Month / Available Now
Unit #1009 / 1262 Sq Ft / 2BR / 2 Bath / $2792 Per Month / Available Jun 30
Unit #2509 / 1262 Sq Ft / 2BR / 2 Bath / $2792 Per Month Available Jul 30

With demand for Chicago apartments still high and rents expected to keep going up, if you see something you like you may want to get a lease signed sooner rather than later.

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chicago-condos & Chicago Real Estate pcherry on 10 Jun 2011

Apartments Available At Burnham Pointe

June 10, 2011 - If you’re looking for Chicago apartments to rent, you may want to check out what’s available at Burnham Pointe, located on 730 South Clark Street. This Chicago real estate development was completed in 2008 and features high-end finishes since it made the switch to rental after originally being built as market-rate condos.

The condos at Burnham Pointe size up from 735 to 2,256 square feet and one to two bedrooms and baths. Each unit comes with a private balcony, 9 foot high ceilings, oversized closets, a full-sized washer and dryer, stainless steel appliances, granite counter tops, granite vanity tops and custom wood cabinets.

Some of the apartments available for rent are listed below. Tomorrow we’ll tell you about the building amenities and list a few more apartments.

Unit #0311 / 886 Sq Ft / 1BR / 1.5 Bath / $1996 Per Month / Available Now
Unit #1102 / 886 Sq Ft / 1BR / 1.5 Bath / $1993 Per Month / Available Now
Unit #1111 / 886 Sq Ft / 1BR / 1.5 Bath / $1996 Per Month / Available Now
Unit #0605 / 908 Sq Ft / 1BR / 1.5 Bath / $2088 Per Month / Available Now
Unit #0305 / 908 Sq Ft / 1BR / 1.5 Bath / $2088 Per Month / Available Now
Unit #2308 / 908 Sq Ft / 1BR / 1.5 Bath / $2098 Per Month / Available Jul 31
Unit #0406 / 963 Sq Ft / 1BR / 1.5 Bath / $2264 Per Month / Available Now
Unit #0206 / 963 Sq Ft / 1BR / 1.5 Bath / $2264 Per Month / Available Jun 27
Unit #1507 / 963 Sq Ft / 1BR / 1.5 Bath / $2259 Per Month / Available Jun 30

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