Grafft Real Estate

Grafft Real Estate We help others sell, buy, rent, and invest in real estate in the following neighborhoods:

Lincoln P Finding the best property every time.

We specialize in the following neighborhoods:

Lincoln Park
Lakeview
Old Town
River North
Streeterville
Gold Coast
West Town
Ukrainian Village
Eckhart Park
Noble Square
East Village
Wicker Park
Bucktown

05/19/2026

A potential redevelopment at the Fifth Third Bank property in Lincoln Square could bring more than 300 housing units to the corner of Lawrence and Western near the Western Brown Line station.

According to Ald. Andre Vasquez, the proposal has not been formally submitted yet, but the early concept could include at least 60 affordable housing units under current Chicago requirements.

The intersection was previously tied to a failed Amazon Fresh redevelopment proposal in 2022. Now the site is back in development conversations as demand for transit-oriented housing continues across Chicago’s North Side.

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Source: Block Club Chicago
Image Source: Block Club Chicago / Baird & Warner

05/18/2026

Evanston approved a new 299-foot residential tower at 605 Davis Street that will become the tallest building in the city once completed.

The revised proposal from Vermilion Development and Chicago-based architect SCB includes 419 apartments, 84 affordable units, ground-floor retail, and a reduced parking plan that relies partly on existing public garages nearby.

The project moved forward after a redesign lowered the tower from 31 stories to 29 and reduced on-site parking to 40 spaces. The city says the shared garage agreement could generate an estimated $211,000 in annual revenue while increasing the use of existing downtown parking infrastructure.

Projects like this are becoming more common across transit-oriented suburbs around Chicago as developers and cities rethink how downtown density, parking, and housing work together.

Stakeholders:
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Vermilion Development

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Source: Chicago YIMBY
Image Source: Chicago YIMBY, SCB, City of Evanston

05/17/2026

A $35 million redevelopment plan for the former American Library Association headquarters at 50 E. Huron St. in River North has been dropped, and the property is now being offered for sale as a repositioning opportunity.

The building originally opened as the ALA’s home in 1963 was picked up by a venture led by Mitch Hamblet of Eden Supportive Living, with an original plan to convert the nearly 40,000-square-foot structure into a 98-bed recovery facility called the Restorative Care Institute. That plan is no longer moving forward but a prior zoning approval allowing the building to expand to over 72,000 square feet with three additional floors is still attached to the site.

Greenstone Partners, led by Danny Spitz and Malek Abdulsamad, is marketing the property with flexibility for medical office use or future residential conversion though moving to residential would require an additional City Council rezoning.

Sitting a few blocks west of Northwestern Memorial Hospital, the property is in a corridor where healthcare-driven real estate tends to dominate which is what makes this current repositioning stand out within River North’s development pipeline.

For anyone searching River North real estate, investment property Chicago, or working with a real estate agent in Chicago, this is the kind of site that trades on future potential rather than what’s happening there today.

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_Source: Crain’s Chicago Business | Image Source: CoStar Group / Greenstone Partners_

05/14/2026

Ben Weprin, the developer behind Chicago Athletic Association, Soho House Chicago, Hotel Lincoln, and Graduate Hotels, has listed his New Buffalo lakefront home for nearly $5 million.

The restored 1930 property sits along Marquette Drive, one of the most expensive lakefront corridors in the Midwest. Recent sales nearby have reached $7 million and more than $8 million as luxury demand from Chicago buyers continues expanding into second-home markets along Lake Michigan.

The listing reflects a broader pattern shaping regional real estate. Affluent buyers are increasingly looking beyond the North Shore for privacy, design, and lifestyle-driven properties that remain within driving distance of downtown Chicago.

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Source: Crain’s Chicago Business
Image Source: Christie’s International Real Estate

05/08/2026

A planned Amazon Fresh at Belmont and Halsted never opened but the space didn’t sit idle.

Whole Foods Market has now signed on for a two-level lease inside the Hubbard Street Group development, completed in 2023. The 60,000 SF building is nearing full occupancy, with Fifth Third Bank operating and VCA Blum Animal Hospital relocating nearby.

The transition reflects a broader retail pattern across Lakeview and similar Chicago corridors: institutional owners hold prime corners long enough to replace tenants when national strategies change, rather than discounting or leaving space vacant.

For buyers, investors, and developers watching Lakeview real estate, this reinforces how high-traffic retail nodes maintain value even through tenant turnover.

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Source: Southport Corridor Chicago
Image Source: Hubbard Street Group / Southport Corridor Chicago

Address

2350 N. Lincoln Avenue, 3rd Floor
Chicago, IL
60647

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