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From the Ground Up: New Construction is Coming Back

by Nichole Odijk DeMario

In the Works

In March 2014, Belgravia will be introducing two new projects, including 3,000-square-foot, four-bedroom row homes featuring large backyards and two-car garages starting in the $600s in Avondale. Their other project is a Lincoln Park boutique condominium development. The three- and four-bedroom homes will offer between 2,400 and nearly 4,340 square feet and include various features, such as dressing areas, a library, gallery walls and private terraces.

Related Midwest’s current focus is in the South Loop, with its building, Adler Place, opening this month for sales, and the Grant and Harbor View still selling units. Each building covers a relatively broad price range – Harbor View and Adler Place both start in the low- to mid-$200,000s and reach the $600,000s, and The Grant starts in the $300,000s and reaches the $2 million price point.

Several other companies are focusing on single-family detached properties and communities, and taking advantage of the land available in the suburbs: William Ryan Homes currently has projects in Barrington, Algonquin and Plainfield; Ryland Homes has communities in Aurora, Bolingbrook, Montgomery, Woodstock, Elgin, Hampshire, Huntley, Yorkshire and Volo, among other cities; Pulte is focusing on its new construction communities in Shorewood, Naperville, Oswego, Glenview and Burr Ridge, among a few others; Lexington Homes is tracking demand in both the city and suburbs, however, and has properties in both areas. Lexington Place 2 and Lexington Square 2 are two of its single-family and row home communities in the city, respectively, and Woodleaf at The Sanctuary Club, Lexington Hills, Lexington Station and Lexington Oaks are the developer’s other single-family and row home communities in various suburbs, including Des Plaines, Kildeer, Palatine and Morton Grove.

Make sure to turn to page 18 for our New Construction Status Update for all developers’ new construction properties in the city and suburbs.

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