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15 New Developments Hitting the Market This Season

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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!

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365 North Halsted Street
Chicago, IL 60661

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.

2. Hubbard Place

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360 West Hubbard Street
Chicago, IL 60654

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.

3. Coast at Lakeshore East

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375 East Wacker Drive
Chicago, IL 60601

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.

4. Optima Center

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East Illinois Street & North Saint Clair Street
Chicago, IL 60611

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.

5. AMLI River North

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401 North Clark Street
Chicago, IL 60654

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.

6. Halsted Flats

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3740 North Halsted Street
Chicago, IL 60613

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.

7. 1601 West Division

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1601 West Division Street
Chicago, IL 60622

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.

8. 500 North LSD

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500 North Lake Shore Drive
Chicago, IL 60611

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.

9. Harbor View 1901 S Calumet

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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.

10. Adler Place

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1629 South Prairie Avenue
Chicago, IL 60616

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!

11. The Grant

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1201 South Prairie Avenue
Chicago, IL 60605

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.

12. 2100 South Indiana

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2100 South Indiana Avenue
Chicago, IL 60616

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.

13. Webster Square

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550 West Webster Avenue
Chicago, IL 60614

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.

14. The Seneca Boutique Apartments

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200 E Chestnut
Chicago, Il 60611
(312) 787-8900
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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.

15. 1313 Randolph Street Lofts

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1313 Randolph Street
Chicago, IL 60607

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.

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1. K2

365 North Halsted Street, Chicago, IL 60661

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.

365 North Halsted Street
Chicago, IL 60661

2. Hubbard Place

360 West Hubbard Street, Chicago, IL 60654

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.

360 West Hubbard Street
Chicago, IL 60654

3. Coast at Lakeshore East

375 East Wacker Drive, Chicago, IL 60601

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.

375 East Wacker Drive
Chicago, IL 60601

4. Optima Center

East Illinois Street & North Saint Clair Street, Chicago, IL 60611

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.

East Illinois Street & North Saint Clair Street
Chicago, IL 60611

5. AMLI River North

401 North Clark Street, Chicago, IL 60654

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.

401 North Clark Street
Chicago, IL 60654

6. Halsted Flats

3740 North Halsted Street, Chicago, IL 60613

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.

3740 North Halsted Street
Chicago, IL 60613

7. 1601 West Division

1601 West Division Street, Chicago, IL 60622

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.

1601 West Division Street
Chicago, IL 60622

8. 500 North LSD

500 North Lake Shore Drive, Chicago, IL 60611

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.

500 North Lake Shore Drive
Chicago, IL 60611

9. Harbor View 1901 S Calumet

Chicago, IL 60616

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.

10. Adler Place

1629 South Prairie Avenue, Chicago, IL 60616

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!

1629 South Prairie Avenue
Chicago, IL 60616

11. The Grant

1201 South Prairie Avenue, Chicago, IL 60605

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.

1201 South Prairie Avenue
Chicago, IL 60605

12. 2100 South Indiana

2100 South Indiana Avenue, Chicago, IL 60616

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.

2100 South Indiana Avenue
Chicago, IL 60616

13. Webster Square

550 West Webster Avenue, Chicago, IL 60614

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.

550 West Webster Avenue
Chicago, IL 60614

14. The Seneca Boutique Apartments

200 E Chestnut, Chicago, Il 60611

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.

200 E Chestnut
Chicago, Il 60611

15. 1313 Randolph Street Lofts

1313 Randolph Street, Chicago, IL 60607

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.

1313 Randolph Street
Chicago, IL 60607