With the real estate market entering the blast furnace in late spring and early summer, we thought it prudent to compile a map of sizable condo and rental projects that have either recently joined the marketplace or are making their way toward leasing in the coming months. There are more than a few to choose from, and the 15 we've included are surely not exhaustive, particularly if you're looking for projects below the 50 unit mark. Know of any glaring omissions? Please share in the comments or with the tipline, and we'll add it to the map. Happy hunting!Read More
15 New Developments Hitting the Market This Season
Fifield's final K-Station tower has received a torrent of attention at Kinzie and Halsted. The 34-story tower just earned its certificate of occupancy—the first of 2013—and move-ins have just commenced.
The newest Habitat tower is about to top off at Hubbard and Kingsbury. The SCB-designed apartment building is nearing an eventual 43 stories and will contain 450 units. Completion: late 2013, with leasing activated last week.
Coast at Lakeshore East
The newest addition to Magellan's Lakeshore East, razor sharp bKL-designed Coast is a 515-unit, 49-story tower. Leasing is underway, construction is a wrap, and occupancy will begin at any moment.
David Hovey-designed Optima Center is one of few intriguing towers now rising in Streeterville/Near North. The rental tower will rise 42 stories, with 325 units. The only drawback: the yet-to-be rendered but inevitable parking structure. Completion: summer 2013. You can sign up to be on a priority list for leasing, to begin very soon.
AMLI River North
A glossy new site is churning out leases for AMLI River North as we speak. $1,700 gets you in the door, but rents skyrocket from there. Breaking ground in late 2011, the tower will drop another 409 apartments into the hot rental market. Completion: July.
The 15-story Halsted Flats is now under construction at Halsted & Bradley in Lakeview. The full-amenity building will deliver 250+ units, a similar number of parking spaces, and an unusual L-shaped presence. Occupancy is targeted for the fall, so leasing may well get rolling in summer.
1601 West Division
The "Tower of Pizza Hut" or 1601 W Division, as boosters would prefer, is a floor or two shy of topping off at the Polish Triangle. The 11-story rental will have 99 units and a few retail spaces. Most importantly, there's no new parking planned. We don't know exactly when to expect leasing activity, but it'll be Spring or Summer.
500 North LSD
Having visited the topped-out 500 N LSD a couple weeks ago, we can assure you its 500 units are on track for leasing in the very near future. The 45-story building is decent looking and all, but more anticipation surrounds the massive "green wall" planned for the east facade. Completion: September 2013.
Harbor View 1901 S Calumet
Harbor View is the first of three Central Station condo buildings to have its unsold condos renovated, rebranded and re-listed by Related Midwest. Buyers can choose many different shades of traditional or modern finishes.
At the start of April, Related Midwest relaunched of a couple hundred Adler Place condos with prices starting in the mid-200s. The setup is much the same as with sister tower The Harbor View. Get 'em while they're hot!
The Grant is the last batch of Related Midwest's South Loop condos to relaunch. That'll happen any day now, so be aware. The three clusters of revived condos total over 500.
2100 South Indiana
A 59-unit loft rental conversion of the Vesta Accumulator Building may not rival the 163-unit condo development once planned for this site, but it's still a thoughtful repositioning of a cool old building and a boon to the neighborhood. Delivery is expected by late summer, so expect to hear or leasing before then.
It doesn't look like much, but the first phase of rentals may in fact touch down at Webster Square later this year. We're talking 75 units built into the existing structure at Webster & Geneva. A later condo phase won't arrive til mid-2014 at the earliest.
The Seneca Boutique Apartments
The old Seneca Hotel has been leasing for a minute, but it's still worth flagging as a boutique apartment concept: small vintage units with high-end amenities and a first rate location. The 260 units start at around $1K and climb to $3K.
1313 Randolph Street Lofts
Starting 18 months ago and finishing in late 2012, AREA Property Partners have successfully converted a low-profile Art Deco building in the West Loop to 70 loft apartments. Available units range in price from $1,400 to $2,800.