Chicago Condo Directory

February 17, 2009 - Even though the high-rise is said to be 90% sold, you can still find a pretty good assortment of units available at Michigan Avenue Tower II. This 28 story South Loop Chicago real estate development has a total of 269 studio to three bedroom condos, and just over a couple dozen of those left for sale. The current February incentive being advertised on the building’s website is a luxury upgrade package. No dollar amount was listed for this deal, nor what it entails specifically.

The expected delivery date for these condos is sometime this fall (2009) and prices on the units vary according to size and floor location. Basically the studios are about $209,990. The one bedroom condos run from $289,990 to $339,990 and with den $295,990 to $339,990. For the two bedrooms, prices range from $369,990 to $430,000 and with den are $449,990 to $489,990. On the penthouse floor, the two bedrooms run from $525,990 to $559,990. Parking will cost you another $37,500 to $65,000.

The floor plans are laid out as follows:
Floors 4 - 6
Studio 580 sq ft
1 BR 741 - 873 sq ft
1 BR plus den 751 - 933 sq ft

Floors 7 - 25
1 BR 692 - 783 sq ft
1 BR plus den 751 - 826 sq ft
2 BR 1,027 sq ft
2 BR plus den 1,260 sq ft

Floors 26 - 27
1 BR 736 sq ft
2 BR 1,100 - 1,425 sq ft
3 BR 1,540 sq ft

Floor 28
2BR 1,115 sq ft

You can check out other comparable Pre-Construction Condos In Chicago to get an idea of what the “Luxury Upgrade Package” might or rather should be.

Technorati Tags: Michigan Avenue Tower II, Chicago Real Estate, Pre-Construction Condos In Chicago

Some exciting big-ticket news in the high real estate world today: Terrapin-Taxman LLC bought a 79,000 square foot site at the intersection of Madison and Halsted in Chicago. Working togeter with The Taxman Corp. from Skokie, IL., they have bought the property they plan to develop on from MB Financial Bank.

The price of the primo property hasn’t been disclosed, but they have announced that there will be $100 million in new development in both condos and retail.

The bank that owned the property had it sitting around as surplus real estate, and the new developers are excited to acquire the property. Seeing as the land is highly visible and in a great location, whatever they paid for it will likely pay off in spades. Near downtown and visible to several major thoroughfares, good planning and development will definitely lead to a wise investment on the part of the new owners.

The development group has been doing other developments in the area that have been shaping up well, leading to an interest in this property.

The plans so far are to have two separate buildings. One will feature 100,000 square feet or more of retail. The developers would like to have a “great retail corridor” under their belt to compliment their mostly-residential portfolio so far. Taxman Corp. has much more of a retail bent, and their expertise is being called upon to make sure this is a success.

The Walgreen’s across the street is already interested in moving in, as is an as-of-yet unnamed high-end grocery store. The community so far seems interested in the development.

The other building will contain up to 230 condominiums. If you like keeping track of under-development real estate, be sure to take a look at the Chicago Spire which looks to be one of the most ambitious real estate projects in history—and almost definitely the biggest in Chicago.

Technorati Tags: New Developments, Taxman, Chicago Properties, Chicago Real Estate, Skokie, Future Development

Prestigiously located at Fifth and Washington, The Fifth Royal Oak designed by Brininstool & Lynch of Chicago, is a beautifully crafted building with a glistening exterior. Near the Skylofts project, which is crafted by Solomon Cordwell Buenz of Chicago and Neumann-Smith of Southfield, the pair make a marvelous and contemporary pairing that enhance the Chicago skyline with a modern look and feel.

If you go north and downtown, you’ll see a different spectacle altogether. New condo buildings in that area tend to resemble a late 17^th century Paris. This kind of architecture seems to be catching on recently. It seems that more often, a Disneyland-like psuedo-historical style is the choice preferred by new home builders, and a good number of buyers.

There are a good number of people who dislike the contemporary styles. A contingent tend to demand columns and gardens and fancy entryways and consider modern buildings an eyesore. To them, shiny new spires “pollute” the skyline, and they’d prefer a faux historical look.

While this sort if look is by no means unappealing, it seems a bit out of place and an odd request in a modern world filled with cell phones and portable computers—or combinations of the two, like the iPhone! With all these modern trappings, it seems a bit unusual that people would demand a living space that looks like it comes from an era emerging from the bubonic plague.

Of course, this sort of situation is hardly new. With the advent of better materials and construction methods, technically better, anyway, many feel that the soul and humanity has been pushed out of dwelling spaces. Some perceive the sharp lines and often dull colors as soulless. Still, it seems odd as “traditional” styles were also centered around the needs and technology of the day, and modern methods are no different.

This has created an unusual architecture style, possibly best described as “Disneyesque”. Much like the theme parks, modern materials and methods are used to create a fake version of buildings that look rather old, despite being new and made out of materials not available at the time the building is supposed to look like it was built in.

While this sort of building might be fine for some, we think the Royal Oak has come up with a great compromise. Rather than emulate old and inefficient spaces and designs, it seeks to have the modern flair and creativity while maintaining a vibrant energy. The towers and spaces are beautiful and livable, without making the neighborhood feel like a theme park.

If you’re interested in moving into a new development, there are some great Chicago Condo listings no matter which style you prefer.

Technorati Tags: Chicago Condos, Chicago Homes for Sale, Fifth Royal Oak, construction, design