Hedge Fund Manager Ken Griffin Unloads Penthouse for $16M
It has been revealed by the Chicago Tribune that Illinois' richest person, Ken Griffin, has sold his full-floor condo unit comprising the 46th floor of the Waldorf Astoria tower at 11 E. Walton Street for $16 million. With a net worth according to Forbes of $7 billion, Mr. Griffin, founder and CEO of Chicago-based hedge fund Citadel, reportedly paid the same amount for the unit in back in 2014. Much of information surrounding this deal is murky since the buyer of the property is a land trust of indeterminate ownership. Lacking a public listing and therefore without readily accessible photographs, the interiors of the recently-sold Waldorf unit and details such as square footage remain shrouded in mystery. Griffin continues to own a full-floor condo unit on the building's 37th floor which was also purchased in 2014 at a cost of $13.3 million.
Revised 38-Unit Pullman Artspace Lofts Revealed to Neighbors
[Photos by Jay Koziarz]
Monday night's icy roads failed to dissuade a near-capacity crowd of Pullmanites from attending the latest community meeting for Pullman Artspace Lofts, an affordable-rate mixed live/work space development aimed specifically towards artist tenants. The project, which has been in the works for years, began with neighborhood non-profit group Pullman Arts completing the initial feasibility study in 2012 before partnering with Artspace -- a Minneapolis-based non-profit with a portfolio of dozens of successful affordable artist live/work projects across the country -- and Chicago Neighborhood Initiative. Together, these groups brought on Chicago-based VOA Associates to handle the project's architecture. While much of the previously presented design for the Pullman Artspace Lofts remains unchanged, a slightly tweaked version from what was shown at an October meeting was presented to the community on Monday.
Rent in Boston, Atlanta, Denver: What $2,200/Month Can Get You Right Now
Welcome to Curbed Comparisons, a column that explores what one can rent for a set dollar amount in various cities across the U.S. Is one man's studio another man's townhouse? Let's find out! Today's price: $2,200/month.
↑ Boston, MA (1 bed, 1 bath)—With Fenway Park practically in its backyard (it's a 6-minute walk away), this sunny, centrally-located 712-square-foot apartment is easy to love. A cozy eat-in kitchen, bow window, high ceilings, polished hardwood floors, and renovated black and white tiled bath are some of the key features.
New Tower to Become One of Evanston's Tallest at 27 Stories
Downtown Evanston, which has truly transformed and blossomed since the last boom cycle of the early 2000s, has just witnessed the unveiling of its next major proposal. The project, as recently presented to city officials, will be a 27-story rental apartment building with 217 units and 176 parking spaces. The proposal comes from Chicago-based Vermilion Development, a company that is also involved with the Harper Court development in Chicago's Hyde Park neighborhood. The proposed tower will be situated on the north side of Davis Street, in the middle of the block between Chicago and Orrington Avenues and just to the east of Fountain Square. The site is currently a vacant lot and a large stand-alone vehicular drive-through for Chase Bank, located in the neighboring tower to the west. An existing two-story building on the northwest corner of Chicago and Davis is also included in the plan and would be preserved as part of the project. Known as the University Building, the existing structure would have its ground floor lobby connected to the new tower as well as a reconfiguration of the interior spaces, but would otherwise remain untouched.
Here's a Really Neat Loft in a Historic Printer's Row Building
Looking for a unique loft in a historic Printer's Row building? This industrial conversion in the Franklin Building on South Dearborn boasts a bedroom, an office space, two bathrooms, and can be had for $450,000. Designed by George C. Nimmons and built in 1912, the building was the home of the Franklin Printing Company and was operating as printing facility up until 1983. The building sports an ornamental terra cotta relief and a mural above the main entrance that depicts printers using a Gutenberg press. Inside, the unit features some notable upgrades, including high-end name brand kitchen appliances and a custom home office setup. If blue and purple are not your colors, repainting the space should be an easy task. However, the big catch here is the $1,129 in monthly assessments. Also, should you require parking, a space will cost you an extra $30,000.
Report: Chicago Saw Nation's Lowest Home Price Growth
While Chicago's rising rents, slowly recovering condo market, and record foreign investment are good omens for the city's real estate market, a recent report pegged Chicago dead last among the 20 largest cities in the US when it came to average home price growth. Chicago's economic recovery may be alive and well around the city's downtown core and a select number of trendy, rapidly-gentrifying neighborhoods, but the post-recession economic landscape of many Chicago communities remains quite bleak. The data from the S&P/Case-Shiller Home Price Index shows the price of Chicago homes grew at a rate of just 1.3% in 2015 — a figure lagging well behind the national average of 4-5% during the same period.
Elite Street: 10 Impressive Homes of World Leaders
Clockwise from top left: Rashtrapati Bhavan in India, Palácio da Alvorada in Brazil, Prague Castle in the Czech Republic, and cin South Korea
While the race for the White House may seem like it's already lasted an entire four-year term, the real battle traditionally begins this month, as hopefuls start fighting in earnest for votes and delegates in Iowa and New Hampshire. There are plenty of reasons politicians spend years battling for the presidency; the opportunity to live in the Neoclassical masterpiece at 1600 Pennsylvania Avenue, designed by Irish-born architect James Hoban, who won a prize to envision a then-new presidential residence in 1792, is just one. Arguably the most recognizable buildings in the country, the home and office of the President of the United States, like other such residences across the globe, represents architectural achievement and symbolizes national pride. Beyond some of the more well-known seats of power, such as the Kremlin or 10 Downing Street, these select homes of some of the world's most powerful men and women showcase both historic and modern architecture, and help tell the story of their particular countries and rulers.
Willis Tower Knocked Out of List of Top 10 Tallest Buildings in the World
The Willis Tower, the tallest building in Chicago, has been knocked out of the Council of Tall Buildings and Urban Habitat's (CTBUH) top ten list as China's Shanghai Tower officially opened this month. Formerly known as the Sears Tower, the 108-story building designed by Bruce Graham and Fazlur Khan of Skidmore, Owings and Merrill held the title as the tallest in the world for nearly 25 years after it was completed in 1974. Standing at a height of 2,073 feet, China's Shanghai Tower has become the second tallest building in the world, trailing the 2,722-foot-tall Burj Khalifa in Dubai. However, the Willis has had some staying power as it remained one of ten tallest buildings in the world for 41 years. Cities in the Middle East and southeast Asia are building supertall towers at an incredibly fast pace, and because of this, the CTBUH predicts that the Willis will be knocked out the list of the world's 20 tallest towers within the next five years.
Helmut Jahn Tower May Lose Supertall Status With Height Cut
[Renderings: JAHN]
Helmut Jahn's design for a 1,001-foot South Loop apartment/condo tower arrived on the architectural scene with much excitement as Chicago appeared set to add multiple supertall buildings to its iconic skyline, joining Jeanne Gang's proposed Vista Tower in Lake Shore East. Jahn's new tower, along with Rafael Viñoly's 76-story vision for 113 E. Roosevelt, was heralded for bringing a transformative aesthetic balance to the horizon by bulking up the southern end of Grant Park with some much-needed height. Shaped like a giant exclamation mark with its upper portion comprised of three offset cantilevering glass boxes, Jahn's 86-story tower at 1000 S. Michigan Avenue was poised to become the city's fifth tallest, or sixth if Vista is built as planned. However, according to the Chicago development and building watchers at Skyscraperpage, Jahn's 1001-foot design may be whittled down to the non-supertall height of 823 feet — a move that would demote 1000 S. Michigan to 13th place on Chicago's current list of tall buildings.
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Cedar St. Co-Founder Jay Michael Passes Away at 34
[Photo via Cedar St. Cos.]
Jay Michael, the co-founder and managing partner of Cedar St. Cos., one of the busiest developers in Chicago, passed away Friday, January 8 after a year-long fight with stage 4 non-Hodgkin lymphoma. In addition to his career in real estate development, Michael was also one of the cast members of the Bravo show 100 Days of Summer. A self-described "lifestyle architect," Michael was keen on good design and played a major role in launching the FLATS Chicago line of apartment buildings, as well as Chicago's Heritage Bicycles. And while Michael earned praise from design enthusiasts, affordable housing advocates often cried foul at Cedar Street's formula of purchasing derelict buildings and rehabbing them as hip and somewhat pricey micro apartments. However, over the last few years, Michael and Alex Samoylovich, a lifelong friend and partner at Cedar Street, quickly became one of the busiest and most successful duos in Chicago real estate.
Check Out This Ultra-High-Def Time Lapse Video of Chicago
[Screenshot of Stage of Chicagoland by PrimoMedia]
There are dozens of time lapse videos of Chicago out there, but this new one from PrimoMedia offers viewers a very detailed look at the Windy City. It may be hard to tell at first, but this video is actually made from thousands of still photos — roughly 30,000 imagesaccording to Chris Biela, the film's maker. The video explores various parts of the area, and even ventures out to the suburbs. For fans of ultra-high-definition video, this four and a half minute clip is sure to please and impress.
Think You Know Chicago Recycling? Time to Think Again
Many Chicagoans like to consider themselves recycling masters, but are unused napkins recyclable? What about paper coffee cups? Should you separate plastic caps from their respective bottles before placing them in the bin? If you think you know the answers to these and other recycling questions — or have no clue but are keen to learn — take this slick interactive quiz created by Recycle by City in partnership with the City of Chicago. With an average score of 71% and only 8% of know-it-all green warriors acing all 12 of the questions, how will you fare?
Pritzker Prize 2016 Predictions: Who Could (And Should) Win?
Clockwise from top left: Diller Scofidio + Renfro, David Adjaye, Santiago Calatrava, and Sou Fujimoto
Long considered the Nobel Prize of the built environment and one of architecture's highest honors, the Pritzker Prize for 2016 will be awarded next Wednesday morning. The annual honorific comes with a $100,000 prize and a bronze medallion, given to a living architect (or, occasionally but not always, an architecture duo) who has "produced consistent and significant contributions to humanity." The yearly event invites plenty of speculation throughout the global architecture community, and while the award presentation lacks musical numbers and reaction shots, it does offer a look at how the "official" canon of design greatness may be expanded.
Exploring the Construction Boom Happening Throughout the Near North Side
[All photos by Harry Carmichael]
As we head into the dead of winter, crews at dozens of construction sites throughout the city are working at a brisk pace to deliver hundreds of new residences to the greater downtown area. Developers don't appear to be slowing down anytime soon, and with the city now seeking proposals for the massive Cabrini-Green area, the city could be witnessing even more construction. The South Loop is currently witnessing its own construction boom with multiple residential towers and the McCormick Place Entertainment District well underway. However, for today, we focus on the greater Near North area and the many projects that are on their way. Let's begin the tour.
Striking Contemporary Mansion in Wicker Park Seeks $2.45M
Welcome to 2016, you're now living in the future. What do homes from the future look like? They would kind of look like this one at 1617 North Wolcott, on the cusp of Wicker Park and Bucktown. Interestingly enough, this home is not brand new. It's actually almost a decade old at this point, but still pleases the eyes. Built by Randquist Development, the same developer that built the Flexhouse and Flexhouse2 row houses in Logan Square, this large 6,900-square-foot house not only has tons of space, but it's got some interesting extras. First off, the house contains five levels, so it comes with an elevator. Second, this home has some truly high-end finishes and technical upgrades, like Nest thermostats and a custom built-in speaker system. According to records, this house last sold for $2.4 million in August 2008. The listing agent says that it has received $100,000 worth of upgrades since it was first purchased. It returns to the market this week asking $2.45 million.
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