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Ad Categories: Real Estate

Housing Bulletin-How One Developer Outsmarted the Condo Market

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Six years ago, when Golub & Co., the Chicago-based real-estate development company, announced plans to build a high-rise rental-apartment building at 345 East Ohio Street, it seemed like a distinctly contrarian choice. At the time, virtually everyone with a piece of land downtown was building condo towers.

Look at how things have changed: Completed a year ago and dubbed the Streeter, the 481-unit building, now almost fully rented out, was sold last week to the State Teachers Retirement System of Ohio, reportedly for about $210 million…

Sale of the Week-A Beachfront House with Prairie Style – Wilmette

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List Price: $7,495,000 Sale Price: $7,250,000 The Property: This Prairie-style house-whose art glass and other decorative details have a beach grass motif that references its Lake Michigan shoreline setting-sold July 30th for the highest price on record in Wilmette. Built in 1915 on a street that is still cobbled in bricks, the house was the … Read more

New on the Market-Mies (Almost) Slept Here

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List Price: $650,000 The Property: This two-bedroom condo in one of Ludwig Mies van der Rohe’s revolutionary steel and glass towers on Lake Shore Drive turns out to be the very apartment in which the great architect himself planned to live. Known as the “Glass Houses,” the pair of buildings at 860 and 880 North … Read more

Housing Bulletin-Will Foreclosures Reverse Neighborhoods’ Progress?

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The growing number of foreclosures has already wiped out several mortgage companies and many families’ financial footholds. Now some observers say it could turn back the clock in some inner-city neighborhoods and moderate-income suburbs that had shown improvement over the past decade. Although foreclosures are occurring at every income level, they tend to be isolated … Read more

Sale of the Week–Motorola Co-Founder’s Oak Park Home

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List Price: $1,199,000 Sale Price: $1,070,000 The Property: This handsome brick Mediterranean-style house was the home of Joseph Galvin, who with his brother, Paul, founded the radio company that became the technology giant Motorola. The house was built in the late 1920s, according to James Collins, the agent for the house’s sellers, Sam and Kathleen … Read more

New on the Market-Sculptural Contemporary in Lincoln Park

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List Price: $3,799,000 The Property: This house is the enemy of right angles-and of ordinariness. From its jutting, multi-angled façade to its dramatic central fireplace (whose exposed chimney is a two-story assemblage of panels, tubes, and ribs), the house, built in 1992, refuses to be a vanilla box-although most of the interior walls are a … Read more