Tuesday, October 23, 2018

450 West Belmont 80 unit tower rises over busy East Lakeview (lot sold for $4.4M)

Big Crane means big building on West Belmont
The residential tower development 450-454 West Belmont was first proposed in 2015. Two brick vintage multi-units were demolished on the site. All photos Eric Rojas, Broker, Kale Realty unless otherwise noted.

Chicago Cityscape pinged me last week with a $21 million construction permit issued for 450 West Belmont in East Lakeview.  I stopped by for photos of construction progress after client showings around the neighborhood.  The project has been well underway but the latest permit for the site is a reminder of the continuing residential boom around the city. Curbed had the latest in June on the 80 apartment unit development with 48 parking spaces on site.

The 450-454 West Belmont property was occupied by two vintage buildings. The property sale was recorded in January of this year at $4.4 million. It is a shame in this case to lose these vintage buildings in East Lakeview but the beat goes on.  Photo via Chicago Cityscape and Cook County Assessor Office.

Interestingly these 456-498 West Belmont 1970s town homes remain adjacent to the west of the new tower property. A renovated four bedroom town house in the complex at 498 West Belmont sold in 2017 for $800,000. They will have 100s of new neighbors!

500 West Belmont a couple properties over to the west is a mid-rise rental property built in the late 1960s. One bedroom, one bath units are priced from $1,550 / month according to the building web site.

We buy, sell and rent East Lakeview and Lakeview properties.  Please contact us today.  Here's a video of past listing we sold nearby!

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