We've taken a look at Google Analytics site traffic, reviewed some of our most buzz worthy posts as well as taken stock based on conversations we've had with various people and over the next three days we will reflect.
Yesterday it was BEER! Today it's buildings.
For better or worse the Sloop was the poster child of the height and low of the real estate bubble.
While some remain sheepish on the state of the South Loop real estate market, we feel that the neighborhood is still well positioned for growth (as do other professionals). Why? It's quite simple.
The neighborhoods qualities are very appealing. Centrally located. Easy commute to Loop. Good public transportation access and options. Access to major expressways. Proximity to lake, museums, Grant Park and some of the best Chicago has to offer. A growing restaurant, bar and shopping scene, etc. Anyway, you've heard all of this here before.
|Rendering of 15 story high-rise at 1345 S. Wabash|
The building that's furtherest along is the new condo building at 1345 S. Wabash. CMK properties which has a history in the neighborhood is the developer for this. The high-rise is 15 stories and has already topped out. Unit delivery is expected in early 2015.
2014 also marked the delivery of another AMLI rental project at the southwest corner of Polk and Clark.
Just slightly south of this project at 1000 S. Clark, construction has commenced for a 29-story rental high-rise by JDL. Needless to say there are a lot of rental units that will be available on south Clark (hopefully this also means a more lively retail street-scape).
A couple blocks east, Golub and Partners have finally received permits at 1001 S. State and have begun site prep to construct a 40 story
|Proposed 40 Story condo building at 1001 S. State|
While these are some of the bigger/newer projects that are underway there were a smattering of smaller scale real estate things going on. Aviation lofts officially opened at 1340 S. Michigan. As a reminder this was an old courthouse that was converted to rental lofts. Just across the street at 1323 S. Michigan it was also announced that an old, vacant 7 story building would be converted into rentals.
Not everything was apartments and condos as it was announced that some new townhouses would be coming to Prairie Avenue where the failed X/O high-rise was once planned.
Further south it looks like the CHA is seeking bids to build mixed income housing on the former land of the infamous Ickes Homes. This is in the early stages of planning, so we would imagine this won't be delivered until after 2015. Nonetheless it will probably be a pretty big deal when it moves forward.
In the same vicinity it was announced that "low cost" rental apartments would be coming to 2001 S. State and 2000 S. Wabash. Also a 5 story residential building would be built at 1920 S. Wabash.
If you've made it this far in the post you're probably realizing that there is a lot of real estate building/conversion activity happening in the Sloop. We probably even missed some items and rumors (like the Roosevelt Collection rental tower that's being talked about or "The Chicago" high rise at Michigan and Roosevelt).
Needless to say all this activity is tough to keep up with. Stay tuned, 2015 should be interesting...