An inside look at Chicago real estate

First New High-Rise along South Shore’s Lakefront in 30 Years

Plans for a brand new 19-story condominium are under way in Chicago’s South Shore. Breaking a streak decades in the making, the residential building will be the first new high-rise along the South Shore’s lakefront in 30 years.

Still largely untouched by the residential development boom that has hit Chicagoin recent years, the city’s SouthShorewill be the site of JFJ Development Company’s new high-rise, the first since the 28-story Quadrangle House was completed in 1968.

Situated on the corner of East 68th Street and South Shore Drive, the 128-unit condominium building will have an attached section of three-story, three-bedroom townhomes. The new structure will replace three separate two-story buildings that are being razed for the $60 million project.

The condos will provide a good range of space and price to residents. Pricing is expected to start at $275,000 for one-bedrooms with 1 ½ baths, and jump to over $1 million for 2,000-square-foot units with three-bedrooms plus den and 3 ½ baths. The newSouthShorehomes will also offer great views of Lake Michigan, Jackson Park and downtownChicago.

After getting approval from the Chicago Plan Commission in April and the City Council this month, construction on the new high-rise condos isn’t slated to begin until February of 2008. A sales center on Oglesby Avenue and 71st Street will open in October.