Chicago Condo Directory

March 2, 2009 - The Mondial held its grand opening event a few days ago and also showcased a couple of new complete models that previously had not been open for viewing. This 15 story, 142 unit tower was just about 40% sold as of the last sales update, so there is still a good selection of condos available. First deliveries are scheduled to start in about a month for this River West development. The project was recently named as Best High-Rise by New Homes Magazine for new construction residential Chicago real estate projects less than 20 stories tall, and one of the most striking features of the tower is the glass front entrance that stretches 36′ x 96′ and ushers residents towards the glass elevators.

The Mondial stands at 900 West Huron Street and the two new furnished models on site are a two bedroom, two bath and a one bedroom, one bath unit. The two bedroom model has about 1,250 square feet and a decent balcony. The one bedroom model has about 70 square feet of living space and is very representative of the other one bedroom units in the building. According to the developer, there will also be a studio model ready for showing sometime soon.

Prices on the condos have remained pretty steady, with the studios running from about the $230,000s to $280,000s. The one bedroom units range from the mid $200,000s and up while the two bedroom condos run from the high $300,000s to $500,000s. The largest four bedroom units in the building are priced in the $900,000s. The low end of those prices are very competitive with other Chicago Condos For Sale that are similar in regards to size and finishes.

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Congratulations are in order for eco18, a Dynaprop Development Corp. property designed by Wight & Co., that has 98 units up on sale. They are the first building to meet the ecologically prestigious “Tier Three” status as defined by Chicago’s Green Permit Program.

The standards for “Tier Three” are very high and go well above the minimum requirements set by the U.S. Green Building Council. The eco18 project’s designers have worked hard to make every last detail of the project eco-friendly, even during construction. Water use, waste carting, shipping building supplies, and even geothermal cooling and heating have been employed to make just building the complex have a minimal environmental impact.

While other projects try to skate by at the minimum, eco18’s team has gone above and beyond to strive for the highest levels of eco-friendly certification, and are being duly rewarded. With the highest Tier Three level, the permit process is streamlined quite a bit, and the permit consultation review fees which run about $50,000 for something of eco18’s size has been completely waived. Nearly 134 green permits have been issued so far by Chicago’s Department of Construction and Permits, but so far eco18 is the only one to achieve the feat of complying to the highest tier of compliance.

Possibly the coolest feature of the project for sustainable energy is the solar-thermal collector array on the top of the 12-story roof. It will heat water and be specially tuned to produce up to half of the water heating load the residents demand. Overlapping that is a looping geothermal ground piping that will satisfy roughly 75 percent of the water heating needs.

You can find out more about other interesting and niche new condos in Chicago on our comprehensive Chicago condo directory.

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Parkside of Old Town, a multifamily development with over 760 townhomes, condos and apartments, is now under construction on Chicago’s Near North Side. This $225 million venture will replace some of the Cabrini Green housing projects. The buildings that composed Cabrini Green once held 35,000 people, but only about 1,500 are left.

The redevelopment of this area–bordered by Seward Park and Larrabee, Division and Oak streets–is part of the $1.5-billion CHA “Plan for Transformation,” which has demolished high-rise public housing towers and developed mixed-income, mixed-use neighborhoods in their place.

Former residents have formed a development partnership with two companies, and Kimball Hill Urban Centers, to build Parkside. When it is finished, the project will be made up of about 20% low-income housing, 30% rental housing for current and returning Cabrini residents, and 50% market-rate housing and apartments.

Parkside will replace three of Cabrini’s high-rise buildings, but Peter Holsten, president of Holsten Real Estate Development Corp., says that it shouldn’t carry with it any of the stigma of the gang-infested former projects. A similar project managed by his company, a development called North Town Village, has been quite successful, with about the same combination of market-rate and affordable homes and few vacancies. “If it’s a strong area, people will want to live there,” Holsten says.

Construction has begun on 280 homes–townhomes starting at $499,000 and condominiums priced from the low $200s. The company has about 100 contracts for the for-sale units, and once the firm sells another 14 units, Holsten said construction can begin on the second condominium high-rise building.

Chicago real estate, Chicago condos, Chicago homes, Chicago townhomes, Old Town, Near North Side

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