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News

7/14/2020 The Ultimate Work-From-Home Amenity: Private Office Suites—Barrons

When Steve DeLuca commutes to work, he takes a quick elevator ride from the apartment he shares with his wife and their two toddler children at Optima Signature in Chicago’s Streeterville neighborhood. Unlike many people, Mr. DeLuca isn’t new to working from home. He’s been doing it for more than a decade.
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7/13/2020 Man found dead inside refrigerator at Edgewater Beach apartment was strangled: autopsy—ABC 7 News

A man found inside a refrigerator at his Edgewater Beach apartment was strangled, according to an autopsy.
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7/8/2020 Condo association sanctioned for eviction ploy—Chicago Daily Law Bulletin

A bankruptcy discharge wiped out Ann Terrell’s personal liability to the Beaufort of Gordon Terrace condo association for $16,866 in common expenses, but Beaufort — which still had an in rem lien on her condo unit — obtained an order of possession in a Cook County eviction case so it could rent out the unit until the debt was paid, under a remedy provided by Section 9 of the Illinois Condominium Property Act.
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7/8/2020 Plan To Tear Down 1890s Workers Cottage, Replace It With Condo Building Moves Forward In Noble Square—Block Club Chicago

A plan to turn a 128-year-old worker’s cottage into a three-flat condo is moving forward after Noble Square neighbors did not oppose the project at a community meeting.
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7/8/2020 Financing snag puts Helmut Jahn-designed Michigan Avenue condo tower on hold—Crain's Chicago Business

Goldman Sachs has hit pause on funding for construction of a $470 million condo tower designed by architect Helmut Jahn for a South Loop site.
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7/8/2020 Jason Heyward reportedly lists posh Gold Coast condo for nearly $7.6 million—NBC Sports Chicago

Jason Heyward listed his Gold Coast condo for nearly $7.6 million on Tuesday, according to the Chicago Tribune.
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7/2/2020 Condo complex sold for $17 million—Evanston Now

An Evanston condominium complex has been sold to a developer, North Park Ventures, that's converting the property to rental apartments.
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7/2/2020 From Puzzles To Recipes, Real Estate Marketers Are Getting Creative—Forbes

During the first week of Phase Two reopening in New York City, Manhattan new listings were up 97% year over year and up 56% week over week, according to according to real estate market data firm UrbanDigs. However, demand still isn’t meeting supply and contracts signed are down 67% from the same time last year.
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7/2/2020 Case Shiller: Chicago Area Home Price Appreciation Remains Slowest In Nation—ChicagoNow

Another month has come and gone and once again Chicago area annual home price appreciation is the slowest among the 20 largest metro areas.
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6/30/2020 Vermilion tops off luxury condo building, Alcove Wicker Park—RE Journals

Chicago-based Vermilion Development, and its exclusive sales and marketing firm, @properties Developer Services, have announced that construction has topped off at Alcove Wicker Park, a new 43-unit luxury condominium building set to deliver this fall. Alcove Wicker Park also features 12 new-construction townhomes.
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6/30/2020 3 Reasons to Buy a Condo — and 3 Reasons to Beware—WTOP News

If you’re contemplating buying a house, especially in an urban area, you may be asking yourself: Is buying a condo a better deal?
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6/30/2020 Gold Coast condo owners prepare to throw down over proposed 43-story tower—The Real Deal

NIMBYs on the Near North Side are trying to stymie Fifield Companies from building a 43-story residential high-rise on a parking lot next to the Gold Coast Galleria condominium tower at 111 W. Maple Street.
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6/25/2020 Habitat to Manage Metropolitan Tower Condos—ConnectCRE

The Habitat Company was awarded property management of Metropolitan Tower, a 234-unit luxury condominium building located at 310 S. Michigan Ave. in the Loop, effective July 1. Widely known as Chicago’s first high-rise, the 30-story Metropolitan Tower was originally home to office space and converted to condo in 2007.
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6/24/2020 LulaFit adjusts to coronavirus crisis by shifting to virtual amenities programs—Chicago Business Journal

LulaFit, which provides wellness amenities management services, has launched a new virtual platform offering mindfulness classes and other online programming to businesses and apartment and condo dwellers.
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6/24/2020 West Town Neighbors Can Weigh In On Proposed Worker’s Cottage Teardown, Condo Project—Block Club Chicago

Neighbors have a chance to weigh in on a proposal to replace a worker’s cottage with a three-flat condo building.
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6/22/2020 Could COVID-19 Spark a Downstate Renaissance?—Chicago Mag

In 1995, I moved from Decatur to Chicago. In Decatur, I paid $325 a month to rent a two-bedroom house with a basement, a carport, and a small yard. For the same money in Chicago, I got a studio apartment in Uptown with no air conditioning.
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6/19/2020 Related Midwest’s double-tower Chicago Spire replacement scores city council approval—The Architect's Newpaper

After undergoing substantial tweaks, the plan to erect a pair of truncated residential skyscrapers designed by SOM’s David Childs at 400 North Lake Shore Drive—currently home to a remarkably large hole in the ground—in Chicago’s Streeterville neighborhood has been blessed with full approval by the Chicago City Council.
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6/18/2020 StoneTurn Exec Says Force Majeure Clauses Lack Specificity—Law360

Many real estate owners, lenders and tenants — as well as buyers and sellers — are finding their force majeure contract clauses to be too broad as the COVID-19 pandemic brings increased scrutiny to such clauses, StoneTurn partner and law firm expert Jeffrey Matthews told Law360 in a recent interview.
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6/18/2020 Housing Tax Credit Tenants Brace For Evictions Due To Virus—Law360

Thousands of cash-strapped apartment dwellers are bracing for a wave of evictions next month that could worsen the national affordable housing shortage, placing pressure on owners of housing tax credit properties seeking to maintain financial solvency during the COVID-19 pandemic.
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6/17/2020 COVID housing relief roils City Council—Crain's Chicago Business

Aldermen remain sharply divided over what relief should look like as COVID’s economic impact continues to hit both renters and landlords.
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