Category Archives: Chicago Real Estate

Real Estate Player Could Move into the Original Chicago Playboy Mansion

Did you tune in last month to see the pilot episode of the new NBC show the Playboy Club? If you did, you certainly weren’t alone. Millions of people watched the first episode of the hit TV show, and most of them were drawn in by the show’s dreamy sets and the lavish interior of the club.
“However,” according to Forbes.com, “anyone who’s anyone must know the fun definitely did not start or stop at The Playboy Club. In those days, only a few privileged socialites were invited to the real …

East Coast, West Coast, Third Coast: An Interview with Someone Who’s Seen it All

Some Americans settle down easily—They find a city that they love and they stick with it. Others seem to have a bit of wanderlust—They move from place to place often.
Today we interviewed Hanna Perry, a working woman who lived in New York, New York and Portland, Oregon before settling in Chicago last year. We asked Hanna to tell us a bit about how these major metropolises on the coast stacked up to the Windy City.

You grew up in Massachusetts, didn’t you?
Yes, I grew up in western Massachusetts, in the Berkshires. …

Wrigley Building Sold to Groupon Execs

News broke earlier this week that the Wrigley Building to a group of investors led by BDT Capital Partners. BDT Capital Partners is comprised of members of the Zeller Realty Group, including Eric Lefkofsky and Brad Keywell, two of the three co-founders of Chicago’s very own multi-billion dollar tech company, Groupon.

According to a press release related to the sale, the chief investment officer for BDT Capital Partners, Byron D Trott, said this about the sale:
“The Wrigley Building is an iconic Chicago asset in a premier Chicago location on Michigan Avenue …

Luxury Units Limp Behind Lagging Real Estate Market

According to the Chicago Tribune, new luxury constructions are few and far between these days, but that doesn’t mean that they’re entirely non-existent.
As many Chicagoans already know, construction continues on the much-anticipated Lincoln Park 2520, a luxury high-rise featuring thirty nine residential floors and many more individual units. Construction has also begun on a Ritz-Carlton located along the north side of Michigan Avenue, a new hotel which will include eighty eight long-term residential units.

“The two high-rises share the notable distinction,” the Tribune reports “of being the only sizable Chicago condo buildings that …

Abandoned Buildings Could be Converted into Art Studios and Apartments in Pilsen

WBEZ staffer Micah Maidenberg reports that a Pilsen alderman may convert block of abandoned buildings in his neighborhood into apartment units and studio spaces for artists.
“In June,” Maidenberg writes, “Alderman Danny Solis, who represents the area in Chicago’s City Council, introduced an ordinance that calls for allowing “work-live units” in the buildings, where artists and small-scale producers would be able to collapse their home and professional lives into the same space.”
“It’s an idea he says is tied to the changing nature of Pilsen itself, a historically immigrant neighborhood that once …

Should you Rent or Buy if You’re Gen Y?

An Australian newspaper published an interesting article earlier this month titled “Renting vs. Buying—The Verdict.” In the article four real estate experts—each expert representing a different age group—were asked whether other members of their age group would be better off renting or buying a home. The experts’ answers were certainly very informative. Justine Davies, a Generation Y real estate expert.

Part of Davie’s take on the question can be read here:
“This is a tricky question to answer,” Davies says, “because there are positive and negative aspects to both sides of the equation. Property prices …

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