Chicago Cheat Sheet: Trump Tower condo hits the market at a discount…& more

Chicago /
Apr.April 26, 2019 04:00 PM
George Escobedo, President of Chicago Advertising and Marketing, and Trump Tower and the Escobedos’ condo

George Escobedo, President of Chicago Advertising and Marketing, and Trump Tower and the Escobedos’ condo

Advertising firm owners selling Trump Tower condo

The owners of a condo in the Trump International Hotel & Tower are listing their home at a discount from what they paid for it 11 years ago. George and Cerise Escobedo, who run Chicago Advertising and Marketing, are asking $1.8 million for the two-bedroom unit on the 32nd floor of the tower at 401 North Wabash Avenue. The couple bought the condo for $2.3 million in 2008. Michael Maier of Berkshire Hathaway HomeServices KoenigRubloff Realty Group is one of the brokers who has the listing. [Crain’s]

Vista Tower tops out

Construction workers on Friday poured the concrete for the final floor of Dalian Wanda and Magellan Development’s Vista Tower. The Lakeshore East supertall will reach 101 floors and 1,191 feet when it is completed, making it the third-tallest building in Chicago after the Willis Tower and Trump Tower. When the building opens next year at 303 East Wacker Drive it will feature 396 condos and a 192-key hotel. [Chicago Tribune]

Number of affordable rentals shrinking on North and Northwest sides

While a new study says the number of affordable rentals in Chicago is shrinking overall, neighborhoods on the North and Northwest sides have been hit particularly hard. Between 2012 and 2017, Portage Park and Jefferson Park saw a 13.1 percent drop in the amount of affordable housing, Logan Square and Avondale saw a 12 percent drop, Irving Park and Albany Park saw a 10.9 percent drop, and Lincoln Square and North Center saw a 10.7 percent drop. Overall, the number of affordable rentals dropped 4.9 percent in Chicago, according to the Institute for Housing Studies at DePaul University. [Block Club]

Legal fight to continue over disputed Libertyville subdivision

Libertyville officials plan to appeal a judge’s decision to allow the Archdiocese of Chicago and a Lake Bluff developer to proceed with a new subdivision on Mundelein Seminary land. The court ruled the Archdiocese and the Roanoke Group should be allowed to build 148 new homes near Butterfield Road and Lake Street despite village officials’ worries about traffic safety around the development. The village has hired an attorney to take the ruling to the appellate court. [Libertyville Review]

Highland Park synagogue finds a buyer

A special recreation cooperative is under contract to buy a Highland Park synagogue that went on the market late last year. The Northern Suburban Special Recreation Association has a deal to buy the Lakeside Congregation for Reform Judaism facility, 1221 Lake Cook Road, officials said. The co-op serves 13 North Shore communities and has been looking for a new home for six years. The synagogue is merging another Highland Park synagogue, Congregation Solel, to form Makom Solel Lakeside. The purchase price was not disclosed. [Highland Park News]


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