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Deal Estate - August 2006

Stone Gate preserves green space near revitalized suburb’s bustling downtown

 

Des Plaines
From $195,950 to $355,950

Now that central Des Plaines has undergone a successful revival, it faces some potential problems, such as overcrowding and traffic congestion. But the complex of buildings rising just northwest of the suburb’s newly bustling downtown should have a minimal effect on density, since half of the project’s seven acres will remain as green space-some of it forest and some lawn and landscaped gardens.

Stone Gate condominiums, a quartet of seven-story buildings, sit on a partially wooded parcel on Western Avenue. The developer, Newport Builders, will install a gazebo, dramatic lighting, and other outdoor features near the buildings, says Mary Lane, the president of Alexander-Lane Realty, which is selling the condos. Upon completion-in summer 2007-Stone Gate will have a total of 264 units. Of those, about 130 are still for sale. There are nine different floor plans, ranging from a 1,066-square-foot one-bedroom condo (priced at $195,950) to a 1,994-square-foot two-bedroom unit with a den ($355,950). The first two buildings are finished, and Lane expects the third to be ready in spring 2007. The fourth should be completed that summer.

In the Sun
Development honors playwright

 

Bronzeville
From $256,200
to $260,800

In her 1959 play, A Raisin in the Sun, Lorraine Hansberry depicted an African American family living on Chicago’s South Side who aspired to move to a better neighborhood. Now a new development on the site of the Chicago Housing Authority’s Robert Taylor Homes will be known as Hansberry Square.

Commemorating Hansberry “was not a hard choice,” says Whitney Weller, vice president of Michaels Development, the company behind Legends South, the $850-million housing project planned for the 100-acre site. “We’re honoring the historical legacy of the neighborhood, and she was clearly a big part of that.”

Hansberry Square, a combination of condos, single-family homes, and rental units, will occupy 12 of the 100 acres. At press time, the 17 condos that remained were 1,025-square-foot, two-bedroom units ranging in price from $256,200 to $260,800 (depending on the view). Residents may begin moving in by fall 2007.

Car 54, Where Are You?
State Place condo tower transforms the site of Chicago’s onetime police headquarters

 

South Loop
From $461,800
to $899,000

Just a few years ago it was the site of the city’s police headquarters, and few people wanted to spend the night. Today there is a 24-story condo tower at the same location, and it turns out to be a far more desirable destination. Called State Place, the block-long project along State Street (between 11th Street and Roosevelt Road) replaced the Chicago Police Department’s defunct main station after the cops moved into their new high-tech digs at 3510 South Michigan Avenue in 2000.

Of the 243 condos in the four-building complex, only five remained for sale at press time, according to Tricia Van Horn, sales and marketing vice president for Magellan Development Realty. Three of those are 1,412-square-foot, two-bedroom units on the 15th and 16th floors with northwest views. They are each priced at $461,800. The remaining units are penthouses on the 24th floor. One, priced at $899,000, has three bedrooms and 2,479 square feet of indoor space and a 382-square-foot terrace. The other is an 1,874-square-foot, two-bedroom unit priced at $750,000; it also has a 382-square-foot terrace. “These are for the penthouse buyers who want a big outdoor place,” Van Horn says. All the units are ready for immediate occupancy.

Send tips about high-end home sales to dennis@rodkin.com.

Illustrations: Top Voss-Lauritsen, Inc.,
Middle Courtesy Of Brinshore-Michaels
Photograph: Courtesy Of Nnp Residential

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