Housing News - Issue 3, Winter, 2001
Maxwell St. Retail Area
University Village, The City's 'New'
Old neighborhood, underway

CHICAGO-University Village at South Campus, a dynamic new $525-million mixed-use community now underway on the Near West Side, is destined to be Chicago's next hot residential neighborhood. Plans for the 86-acre South Campus redevelopment project call for an expansion of University of Illinois at Chicago's (UIC) academic facilities, student housing and retail shops in the old Maxwell Street market area, and 930 privately developed condominiums, townhomes and lofts. The South Campus Development Team joint venture is comprised of three developers: Chicago-based Mesirow Stein Real Estate Inc., Norridge-based The Harlem Irving Companies and Chicago and Springfield-based New Frontier Companies. >Next page<

More News from The Home Front
Rental Apartments
North Town Village under construction near Chicago's Old Town
CHICAGO-The first rental apartment buildings now are under construction at North Town Village, a landmark $65-million mixed-income housing community, on Halsted and Evergreen streets immediately west of Chicago's Old Town neighborhood. Plans for the 7-acre North Town Village community call for 261 rental apartments, condominiums, stacked duplexes, coach houses and townhomes, according to co-developers Holsten Real Estate Development Corporation and the Kenard Corporation. "Construction is underway on the first rental apartments at North Town Village," said Peter Holsten, president of Holsten Development. >Next page<

The Buck City Lofts

West Bucktown born as housing demand pushes neighborhood borders
CHICAGO--With the high cost of housing in the New Millenium, it is difficult to find value in new-home sales. Housing experts say that the key to getting good appreciation in a developing neighborhood is to pioneer and get there before trendy bars, restaurants and other amenities arrive. "If a couple of big projects are announced for a particular area, you know it will arrive soon," said veteran developer Paul Bertsche, principal in C.A. Development Corp. "The big projects will create a critical mass that will make a neighborhood livable by bringing in grocery stores, coffee shops, cleaners and other neighborhood amenities. >Next page<

Skytech Lofts
High-Tech lofts planned at 1501 Madison in West Loop
CHICAGO--The $40-million high-tech Skytech Lofts is planned at 1501 W. Madison in Chicago's West Loop neighborhood. "One-hundred forty-six new-construction, loft-like condominium simplex, duplex and townhome units are planned for the Skytech Lofts development," said Charles Cornelius, principal in Chicago-based West Madison Developers, LLC. Skytech Lofts is being co-developed by West Madison Developers, LLC. and New West Realty, who will also serve as the exclusive marketing agenr Skytech Lofts. Pre-construction sales will be conducted from the Park 1500 Lofts sales center located at 100 S. Laflin. >Next page<

South Commons
Condominium conversions combine affordablitiy and great locations
CHICAGO-When prospective home buyers are targeting condominium conversions as an alternative to new-construction and resale units, there are a few things that buyers should know in order to make an intelligent investment decision, real estate experts say. "In the entire mix of condominium choices, large conversion developments are typically priced lower than new construction residences and have nicer furnishings than resale units," said appraiser Gail Lissner, of Appraisal Research Counselor Ltd. >Next page<

Joseph Freed Homes

A wealth of things to do a stone's throw from Wesley Square
WHEATON-Wesley Square offers the best of both worlds: a private, park-like setting and, just minutes away, a variety of nearby attractions in downtown Wheaton and the surrounding area. Co-developed by Joseph Freed Homes and Centrum Properties, the 33-unit luxury townhomes at West and Wesley streets are scheduled to be completed by June of next year. Initial occupancy is now underway. Wesley Square is nearly 85-percent sold. On spring and summer evenings, residents can hear the sound of music every Wednesday at Memorial Park, >Next page<

Fort Sheridan Waterfall

Getting back to nature feels like home at Fort Sheridan
HIGHLAND PARK-Town of Fort Sheridan home buyer Ralph Pfaff claims he has "the best view in the whole place" because he can see the waterfall, meadow, pond and Lake Michigan from his upstairs window at the 230-acre residential community on Chicago's North Shore. Lakshmi Menon, Pfaff's nearby neighbor, says she doesn't mind doing dishes because she can see the stream from her kitchen window in her home at Fort Sheridan. Landscape engineer Bernie Jacobs, president of Jacobs/Ryan Associates, gets a kick hearing stories like these >Next page<

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