Category Archivepre-construction condos in chicago
March 28, 2009 - Work at the Roosevelt Collection has been progressing and Chicago real estate developer Centrum Properties plans on having a model ready for showing by May, according to Crain’s. The work has been focused on the two mid-rises and the retail section and plaza or courtyard. When completed, the 1.3 million square foot development will contain 342 one to two bedroom Chicago condos lofts and about 400,000 square feet of retail space. Eventually a 43 story rental will also be built.
The Lofts at Roosevelt will be located over what is to be a collection of about 40 to 50 shops and stores. The anchor will be a large movie theater, but as of yet no other retailers have been named as being tenants.
Some of the finishes at Roosevelt include Italian wood cabinetry, Kitchen Aid stainless steel appliances, porcelain tile in the baths along with rain shower heads and soaker tubs plus an in-unit laundry with washer and dryer. The condos will have generous balconies as well and sizes for the units will run from about 759 to 1,497 square feet. Common features include a business center, fitness center, bike storage space and 24 hour door man. With the project about 56% sold now, prices are basically what they were at the onset which is from the low $300,000s to mid $600,000s.
While you’re touring the model for the Lofts at Roosevelt, you may want to check out some other Chicago Condo Lofts too.
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.
pre-construction condos in chicago Administrator on 01 Jan 2007
Half Day Inn, a structure dated back to the mid 1800’s, closed it’s doors to end the year of 2006. Boasted by some as Lake County’s oldest sustaining architectual structure; a chunk of history goes with the 30 year run landmark, as it is to be demolished and in its stead will be a building erected on the sixty-thousand plot of land, to satisfy multiple uses.
Accompanying new retail locations will be approximately 260 new construction condominium units as well as town homes. These new upscale establishments will bring with them an increase in the standards of living, make available new jobs, and more.
But what of the Half Day Inn?
Owners have decided that though relocation was a possibility, this will be the end. A Lake County landmark and a place that many have become accustomed to, will cease to exist. Many individuals have expressed their opposition to the new building development, however the Half Day Inn has seen its time and enjoyed making Lake County a special place for Chicagoans and local residents.
The items in the bar have been said to be available for sale in 2007. Hopefully many will ensure paying a top price for a piece of history and just to contribute to what once was but will always remain a landmark to the residents of Lake County.