Chitownproperty

A new 28-story condo building is planned for the corner of Lake Shore Drive and Waveland Avenue. The lot will also feature 16 low-rise townhouses. The project signals the end of a three-year zoning fight between the developer, American Invsco, the city, and local aldermen.

Former US Housing Secretary Henry Cisneros and a group of investors have secured 6.5 acres in Pilsen for a major home development project. The lot, extending about a block each way along Peoria from 16th to 18th street, would feature 391 homes. Cisneros wants to create “work force housing” in the area, taking advantage of the popularity of the area stemming from interest in the University Commons and University Village developments. The homes would range from $250,000 to $700,000, but on average would cost about $325,000, well below neighboring units. The group would also designate 82 of the homes as affordable housing.

Construction has finally begun on Block 37 in downtown Chicago. Well, a few shovelfuls of dirt have been excavated at least. Mayor Daley and a host of CBS 2 luminaries hosted a glitzy groundbreaking ceremony for the long-awaited but often-delayed development on the block bordered by Randolph and Washington, State and Dearborn. CBS 2 has confirmed that it will move its headquarters to a new building on the block, which will also feature a new CTA station connecting both airports, a hotel, retail space, and a 300-unit residential building.