Chicago Cheat Sheet: Four Seasons condo sells, The 78 seeks first approvals…& more

Also, Alderman Reilly looks to disrupt Symmetry Property project

Nov.November 01, 2018 05:00 PM

Four Seasons condo & a rendering of The 78 (Credit: Related Midwest)

Four Seasons condo sells fast

A condominium at the Four Seasons on North Michigan Avenue sold for $4.4 million after just 15 days on the market. The three-bedroom, 4,100-square-foot condo on the 62nd floor at 900 North Michigan Avenue was sold by the estate of Judith Neisser, a Chicago art collector and philanthropist who died in July. [Crain’s]

Related Midwest’s The 78 seeks its first city approvals

Related Midwest’s sprawling development on the South Bank of the Chicago River, called The 78,[] is set to go before the Chicago Plan Commission this month. The first phase of the project focuses primarily on building new roads and moving the Metra tracks on the eastern edge of the site. Plans call for it to eventually include buildings as tall as 950 feet, a seven-acre park, a public riverwalk with a water taxi stop and as many as 10,000 new homes. [Curbed]

Reilly looks to thwart Symmetry Property Development’s River North plans again

Alderman Brendan Reilly (42nd) moved to downzone some River North properties where Symmetry Property Development wants to tear down several buildings. Reilly’s move would hamstring New York-based Symmetry’s ability to develop the properties, something he’s already done once. He rejected the developer’s plan for a 60-unit condominium hotel on the site last year, saying it would add to traffic woes in the area. [Crain’s]

City approves Obama Presidential Center use agreement

The Chicago City Council approved a plan that outlines how the Obama Foundation will be able to use the Obama Presidential Center in Jackson Park. Once constructed, the facility will be turned over to the city, which will own the buildings. The foundation will be able to occupy the buildings and use them for 99 years in exchange for a onetime $10 fee. [Chicago Tribune]

Vicostone inks 55K sf lease in Bensenville industrial property

Vicostone USA inked a lease for 55,000 square feet in Liberty Property Trust’s 97,000-square-foot industrial building at 350 North York Road in Bensenville. The manufacturer and distributor of engineered quartz slabs will move its regional showroom and warehouse operation from Elk Grove Village by the spring. [REJournals]

A 10-bedroom, 10-bath home gets a price trim

A North Side home with 10 bedrooms — and 10 bathrooms — has gotten a slight price cut. It is now being offered for $2 million, $500,000 less than it had been marketed at. The three-story, 11,000-square-foot house in West Ridge has 12-foot ceilings, an elevator and at least nine chandeliers. It is owned by Eli Stefansky, president of Prime Quest, a Chicago-based investor in rental and hotel properties. [Crain’s]

Yeti opening shop in former Double Door in Wicker Park

Yeti, the Texas-based cooler and outdoor accessories maker with a cult following, is opening a retail store in the former Double Door music club at 1572 North Milwaukee Avenue in Wicker Park. Chicago-based CA Ventures bought the four-story building in June for $9.1 million and has been renovating the upstairs apartments since. Now Yeti is confirmed for the ground-floor retail space. [Block Club]

Family behind West Chicago’s iconic Sonny Acres looking to sell

Sonny Acres, an iconic West Chicago family destination known for its fall festival and apple picking, is for sale with a listing price of $5 million. Tom Feltes, son of late matriarch Ramona Feltes, said there’s been one offer, but the financing fell through. “There’s no stampede to buy it, and it will always be Sonny Acres if it does sell,” he said. “The highest, best possible use for this property is what it’s doing now.” [Daily Herald]

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