Downtown developers aren’t the only ones troubled by a drastic downturn in condo sales.
Many suburban developers are also struggling to unload condo inventory. In Lombard (at 310 South Main Street), one developer is offering 18 condos at auction later this month—and the terms of the auction suggest a handful of buyers could walk away with bargain-basement...
October was another gloomy month for the downtown condo market, with developers hitting the brakes on both the Spire and the 76-story condo tower by Architectonica that was planned for Lakeshore East.
But October was also the month when deals closed on two very expensive penthouses at the Metropolitan Tower, the building with the blue...
Last week, a local builder, Paul Ahlrich of Grun Development, sat down with me for a frank talk about his experience building and selling new houses in Chicago. Ahlrich got into the business slowly at first, and then in early 2006, took a headlong plunge, building three new upscale houses in Humboldt Park—houses he expected to sell before or shortly after...
Back in the summer of 2006, a subdivision called Settlers Ridge was the hottest thing in Sugar Grove, a small town west of Aurora in Kane County. The homebuilder Kimball Hill had begun work on what was intended to become a model of...
