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Chicago Neighborhoods

Chicago has over many neighborhoods within its city limits. New construction residences have cropped up throughout the various communities, providing homeowners with a wide range of environments to choose from. A few Chicago neighborhoods where new construction homes have dominated the housing scene are the South Loop, the West Loop and the Loop.

South Loop

New construction real estate in the South Loop is focused primarily on high-rise condominiums. There are quite a few mid-rise buildings going up in the area as well, but for the most part, Chicago developers are optimizing the limited space with towering, multi-unit residences.

A lot of new construction activity is happening along South Michigan Avenue. Homebuyers will find a large number of listings on this street are either recently built properties or proposed condominium projects that have not yet been completed. Michigan Avenue Tower (on the corner of South Michigan Avenue and East 13th Street) is already occupied however its sister skyscraper, Michigan Avenue Tower II (on the corner of South Michigan Avenue and 14th Street) has added 270 more units to the market for people looking to move into a new condo in the South Loop neighborhood. The new, second tower is located at 1400 South Michigan Avenue and is scheduled for completion in the fall of 2008. This new construction condominium incorporates features important to today’s homebuyer: eco-friendly upgrades, high-tech fitness center, full-size swimming pool and sundeck, heated indoor parking garage, private balconies, and proximity to exciting Chicago attractions such as the Museum Campus and Grant Park. One-bedroom condos with parking start at around $295,000, two-bedrooms are priced between $387,990 and $465,990, while three-bedroom units with a den and parking are just under $640,000. Like the first Michigan Avenue Tower, this residential building’s great location and prime amenities make it a hot new construction property on Chicago’s South Side.

Down the street at 1720 South Michigan Avenue, homebuyers will find another new addition to Chicago’s real estate market. This totally contemporary and innovatively fresh condominium building claims it is “180 degrees from conventional.” The ultra-modern 33-story, glass and steel structure is ready for immediate occupancy and encompasses 498 condo units. Floor-to-ceiling windows and private terraces guarantee residents maximum natural light and a touch of outdoor breathing room—very nice to have in the rapidly developing South Loop area. In addition to a bright, open living space, condos at 1720 South Michigan are loaded with high-quality upgrades such as granite countertops, cherry kitchen cabinets, professional series stainless steel appliances and hardwood flooring. Single-bedroom units start in the high $190s, two-bedroom condos are currently beginning around $264,000, and three-bedroom properties are available for just under $400,000. Heated garage parking is also available for an additional cost.

Michigan Avenue is not the only street in the South Loop budding with new construction options. South Wabash Street is home to a 25-story condominium named GlasHaus that offers homebuyers super sleek style and comfortable amenities. At 1901 South Calumet Avenue another contemporary glass condo building is slated for completion in 2009. It would present South Loop homebuyers with more housing options that combine luxury and affordability. Along South Indiana Avenue are examples of smaller-scale condo designs with a 96-unit mid-rise development at 2035 and a 143-unit building at 1600.

West Loop

New construction property in the West Loop is principally highlighted by mid-rise condominiums and loft conversions. Chicago developers are taking advantage of the neighborhood’s old warehouses and ample real estate options. The recent interest by both builders and homeowners has reinvented the West Loop’s identity from a warehouse district to an up-and-coming Chicago address with an industrial edge.

Noticeable new construction activity is popping up along Sangamon Street, which runs near the eastern border of the West Loop neighborhood). Homebuyers will come across a significant number of listings on North and South Sangamon that are either freshly occupied buildings (just completed in the past year or so) or projects in the works with delivery dates in the next couple of years. The new development at 111 North Sangamon should be ready for move-in in late 2009. This mid-rise, industrial chic condominium development is perfect for homeowners who like the spacious flexibility of a loft, but also appreciate conventional features. An open layout with floor-to-ceiling windows and extended ceiling heights provide extra natural light and a sense of additional space. The kitchen, dining and living rooms are merged together while the bedrooms remain private. Bonus common areas, such as an outside plaza on the fifth floor and media lounges with exterior balconies found throughout the building, give residents at 111 North Sangamon some additional room, as well as a great place to meet the neighbors. Pricing ranges from the upper $200s to the high $300s for one-bedroom units.

Up the street is one of those classic examples of West Loop new constructions. A seven-story, brick structure is being converted from a vintage storehouse into brand new living spaces at 123 North Sangamon Street. This small, 45-unit residential building offers homebuyers fantastic twelve-foot ceilings and traditional hard loft features such as exposed ducts, brickwork and piping. There are one- and two-bedroom loft options at 123 North Sangamon, which all have individual terraces and modern kitchen upgrades.

Down the street at 225 South Sangamon, homebuyers will find another new addition to Chicago’s real estate market that will get West Loop residents that much closer to Zen. This 82-unit mid-rise condominium, named Zen, incorporates a harmony and balance between natural elements and synthetic construction materials. Walls of green, tinted glass fuse with the smooth dark concrete exterior to create a living space that is soothing to the mind, body and soul. Five unique floor plans allow buyers to select the layout that best suits their needs and “inner chi.” Choose from units with one or two bedrooms that have a large private balcony and connected living and kitchen area.

Although there is a lot of new construction going on along Sangamon Street, it is not the only place in the West Loop where we are seeing a lot of new housing options spring up. At 1222 West Madison Street, homebuyers in the market for brand new lofts/condos can secure a spot at this modern, 56-unit construction (located directly in the center of the West Loop neighborhood) which is scheduled for delivery in 2009. Also on West Madison Street, at 901, is a 10-story condominium with 148 units that is ready for occupancy now. Residents of this fully-loaded new construction development have access to an onsite exercise room, communal party room and expansive rooftop sundeck.

The Loop

New construction developments in the downtown Chicago Loop are mainly centered about residential high-rises and condominium conversions. Putting up new structures in downtown can be tricky because much of the real estate is already spoken for. Usually, older buildings have to be razed in order to construct a new one. For example, the Chicago Sun-Times offices were recently torn down only to be replaced by the Trump International Hotel and Tower, slated for completion sometime in 2009. The Trump Tower, which is located in Chicago’s River North neighborhood, has certainly been making headlines since its conception. But there are plenty of new constructions in the Loop neighborhood that are just as prominent in the real estate industry…

The Mandarin Oriental, the Legacy, and the Waterview Tower are a few of the big names in new construction dotting the Loop neighborhood.

Located at 230 North Stetson, the Mandarin Oriental will be a fresh face to Chicago with a long-established distinction for luxury amenities and expensive tastes that is recognized worldwide. There is no doubt the Mandarin is upscale, so homebuyers can expect condo prices to reflect its exclusivity. Two-bedroom residences are listed in the million-dollar-plus price range. But if that is a little outside your budget, there are one-bedroom units on the market for between $545,000 and $890,000.

The Legacy is found at 60 East Monroe Street, just around the corner from great State Street shopping, the famous Palmer House and the celebrated Art Institute of Chicago. This towering, 355-unit condominium supplies residents with a health club, indoor pool, rooftop sundeck, door person, exercise room and extra storage space. Homebuyers have the choice of two-, three- or four-bedroom condos that range in price from the low $300,000s to multi-million dollar penthouses.

Under construction, but slated for completion in late 2009, the Waterview Tower is another sought-after residence located in the Loop that is already making a name for itself. The brand new condominium tower will encompass 245 units at its 111 West Wacker Drive address, right on the Chicago River. Prime units will have views of downtown, the river and Lake Michigan. A communal sundeck is ideal for unwinding outdoors and the full-service health spa and sauna take relaxation to the next level. Waterview Tower is Chicago real estate at its finest. Full-floor penthouses here are listed in the $8 million+ price range and three-bedroom condominiums can cost up to $4 million.

Other new construction developments in the Loop neighborhood include 235 West Van Buren, a 46-floor condominium in the works (slated for completion in mid-2009) that will offer 714 new units and beautiful Lake Michigan views. 340 East Randolph Street is home to a newly built, lofty glass tower with 344 condominiums, indoor pool, and onsite health club. At 420 East Waterside Drive, residents are already moving in to their new construction condos in a classy yet contemporary residential high-rise, situated right along the Chicago River.

Other Chicago Neighborhoods