Multifamily N Illinois
Dover Court Condominiums in Uptown, for which Kiser Group recently brokered a $12.5 million deconversion sale.

Did Chicago just deep-six deconversions?

Chicago’s City Council has passed a resolution to increase the voting threshold on condo deconversions. Now, any building looking to switch from condo to rental will need the assent of 85 percent of the condo owners, instead of the 75 percent threshold that previously held true.

Multifamily N Illinois
Executives from Lendlease and Magellan Development Group, along with 42nd Ward Alderman Brendan Reilly celebrated the groundbreaking of Cirrus Condominiums and Cascade Apartment Tower along the lakefront in Lakeshore East.

Lendlease, Magellan break ground on two Lakeshore East residential towers

Lendlease and co-developer Magellan Development Group celebrated the groundbreaking of Cirrus, a 47-story condominium tower along Chicago’s lakefront in the Lakeshore East community. Scheduled for move-ins by fall 2021, Cirrus will be developed simultaneously with Cascade—an adjacent, 37-story, 503-unit rental tower—and Cascade Park, a publicly accessible green space that will connect to the lakefront and the riverwalk.

Multifamily N Illinois
33 Realty sells Belvidere, IL apartment portfolio

33 Realty sells Belvidere, IL apartment portfolio

33 Realty has completed the sale of a three-property, 64-unit portfolio of apartments in Belvidere, Illinois for $3,300,000. Consisting of 28 units at 504-544 Biester, 24 units at 909-919 McKinley and a 12-unit building at 323 E. Harrison, the portfolio has been well maintained and sold for more than double the previous sale price in late 2012.

Multifamily O Indiana
KTGY unveils plans for Indianapolis' Grid multifamily project

KTGY unveils plans for Indianapolis' Grid multifamily project

KTGY Architecture + Planning has unveiled the details behind the design of Grid, a 175-unit rental community being developed in downtown Indianapolis. Developed by Milhaus, the five-story development at 520 E. Washington St. will be completed in phases, the first of which will be delivered by mid-2020, followed by a second and final phase later next year.

Multifamily N Illinois
Opus wraps up luxury multifamily development in Des Plaines

Opus wraps up luxury multifamily development in Des Plaines

The Opus Group completed work on Ellison Apartments, a luxury, multifamily, market rate development in Des Plaines, Illinois near O’Hare’s office and industrial submarkets. Ellison Apartments is the first new luxury apartment building in downtown Des Plaines in several years and brings an attractive offering for renters in the growing city. The development is a joint venture with Berkshire Residential Investments.

Multifamily N Illinois
33 Realty brokers sale of Chicago Ridge apartments

33 Realty brokers sale of Chicago Ridge apartments

33 Realty has brokered the sale of 42 units in Chicago Ridge, Illinois at 9700 S. Nottingham Avenue for $2,450,000. Consisting of two buildings on 1.1 acres with parking for 78 vehicles, the property was built in 1975 and has recently renovated common areas, a new fire safety system and is near public transportation and I-294.