The Roosevelt Collection hit hard…switching from condos to apartments!

Word broke around a week ago that The Lofts at Roosevelt Collection, located around 150 W. Roosevelt Road in Chicago’s South Loop.  Developed by Centrum Properties, The Lofts at Roosevelt Collection was set to include 342 loft condominiums in addition to a 300,000 square-feet of retail space.  With around 60% of the homes under contract, this is a hard hit…but at least these homeowners received their earnest money back.  According to this ChicagoRealEstateDaily.com article, the development will be anchored by a 16 screen Kerasotes Showplace movie theater and a David Barton gym with the remaining retail space at about 50% leased.  Centrum is in “serious negotiations” with tenants for another 40% of the space which is great news.  So if you’re in the market for a brand spankin’ new loft apartment, check out their website or give the leasing office at call at 312-588-1688.  Rents start at $1,375/month for a one-bedroom and $2,300 for two bedrooms.

Check out the full article by clicking HERE!

Sales and lease figures not so hot for South Loop condos and apartments…

Crain’s Chicago Business released a pretty cool map of Chicago’s South Loop neighborhood showing the percentage sold and leased homes for many of the South Loop’s newest projects like Roosevelt Collection and 1600 Museum Park.  The numbers don’t look good so check them out for yourselves.  If you’re in the market for a new home, there are plenty of homes available in the South Loop, just be a bit cautious on if it’s the right choice in the short and long term.  A big thank you goes out to Crain’s Chicago Business for the map.

Chicago’s newest wall of skyscrapers in the South Loop’s Central Station.

Just below are the plans for three out of the four high rises, centered at Roosevelt Road and Indiana Avenue, in the South Loop’s Central Station masterplan.  The building at the far left, One Museum Park East, is now complete and rises 65 floors above Grant Park and the museum campus.  The building left of center, One Museum Park West, is currently under construction and will rise 54 floors when complete.  The two buildings to the right are current proposals that may eventually start construction but as of yet, there is no set date.  I am glad these Central Station buildings were able to start construction before the whole dramatic downturn in real estate because the two buildings create a nice wall surrounding the Southern end of Grant Park.  Plus, the buildings aren’t too shabby looking either…