DNAinfo

Wicker Park Apartments Boarded Up Since 1970s To Reopen

Wicker Park Apartments Boarded Up Since 1970s To Reopen – Wicker Park – DNAinfo.com Chicago Read More…

Washington Post

What happens when housing for the poor is remodeled as luxury studios

CHICAGO — For years, this brown-brick building near Wrigley Field housed people who had nowhere else to go. It had peeling walls and broken smoke detectors. But its tiny one-room apartments offered homes to residents too poor for a one-bedroom, too risky to pass a credit check, too vulnerable — on the perpetual edge of homelessness — to sign a one-year lease.

Today, from the outside, the building looks the same: six stories, with tall windows and an elaborately carved entryway that still announces the property by its pre-World War II name, the “Hotel Carlos.” But it now contains studios remodeled with stainless steel appliances, granite countertops and hardwood floors. Rent reaches $1,125 a month. The ad in the window promises “vintage charm.”

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Daily Herald

Top-tier apartments proposed for unfinished Libertyville building

Further review will be needed, but Libertyville officials favorably regard a plan to finish the long-vacant upper floors of a prominent downtown building with high-end apartments.

Chicago-based Cedar Street Co. is proposing 34 apartments for the second and third floors of the Manchester Square building at the southwest corner of Lake Street and Milwaukee Avenue. The project represents an investment of $12.5 million and is expected to fetch top rents from older, single affluent tenants, company officials said.

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RedEye Chicago

Uptown FLATS: Gentrifier or ‘Brooklynizer’?

It feels like you can’t turn a corner in Uptown without seeing a FLATS property.

The buildings—eight so far, three of which are open for tenants—meticulously designed to appeal to stylish 20-somethings, are the brainchild of Jay Michael, a 33-year-old real estate mogul, reality TV star and self-described “lifestyle architect.”

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CNN

Bigger isn’t better: Why the next wave of condos will be under 500 square feet

Could you fit your life into 300 square feet? Developers are betting on it, positioning tiny living spaces as a new status symbol for urban millennials.

Chic, central and closet-sized, micro-condos — loosely defined as units under 500 square feet — are being marketed as luxury rentals or a stylish first step onto the property ladder. While small units are already the norm in high-density Asian megacities and old European neighborhoods, major U.S. cities like New York and San Francisco are leading a new charge in North America with others quickly following suit.
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Curbed Chicago

FLATS Chicago Wants To Put Micro-Dwellings On The Map

Micro-dwellings may be more associated with high-rent, densely populated cities like New York and San Francisco, but local developer Cedar Street Companies is actively working to change that perception. Located throughout the city’s north side, the company’s FLATS developments offer a range of residences from studio, one and two bedroom apartments, to duplexes, penthouses and flexible fully furnished micro-dwelling rentals dubbed “Short Stays“. Currently, the company has five properties completed in the FLATS line, but has three more buildings in the pipeline. We were invited to check out the reworked 4+1 building

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DNAinfo Chicago

Pivot Arts Festival Celebrates Intersections of Art and Science

UPTOWN — The Pivot Arts Festival plans to demonstrate in its second year how art and science  — strange bedfellows to some — can form a captivating and innovative alliance.

The non-profit organization behind the dance, music and theater festival was founded in September 2012 with a mission to build an artistic nexus among Uptown, Andersonville and Edgewater. Read More…

eNews Park Forest

Mayor Rahm Emanuel Launches ‘Up the Block’ Program to Promote Small Business and Economic Development

CHICAGO–(ENEWSPF)–May 7, 2014.  Today, Mayor Rahm Emanuel announced the launch of Up the Block, an innovative partnership between the City of Chicago and property developers to activate vacant sites, revitalize communities, and support small businesses. The #FLATSProject, a small business and community accelerator led by FLATS Chicago and Cedar Street Co., will be Up the Block’s inaugural partner. Read More…

Tails

Tattle Tails with Bravo TV’s Jay Michael

Chicagoans struggle through the freezing temps and icy roads in winter, because we know just how awesome summers in Chicago are. Recently, we got to watch as a few locals lived it up on Lake Michigan and partied on rooftop decks on Bravo’s hit reality show 100 Days of Summer. Rising in popularity after the debut of the show, cast member and real estate developer Jay Michael is working harder than ever.

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MICHIGAN AVENUE

6 Home Décor Find from ‘100 Days of Summer’ Star Jay Michael

As a designer/Lifestyle Architect™, FLATS Chicago developer, and one of the stars of Bravo’s 100 Days of SummerJay Michael’s design sense is as eclectic as his resume: he loves mixing styles to build a cohesive look. “The trend today,” Michael says, “is to use clean-lined, modern—sometimes industrial—pieces against vintage or very traditional accents.” Here, he pinpoints a few of his favorite interior finds.

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The CHICago Life Blog

At Home with Jay Michael

Last week we caught up with the equally brilliant and hilarious Jay Michael, known around town as the Lifestyle Architect™ behind FLATS, and on a national level for his recent stint on BRAVO’s 100 Days of Summer.  Today, we’re cutting the chit-chat and getting down to business checking out Jay’s impeccable new apartment!  He recently moved from a townhouse in the Gold Coast to one of his newest FLATS buildings in Uptown to set an example of how one can live stylishly in a small space… Less than 800 square feet to be exact. Read More…

BISNOW

The Deal Sheet

SALES—Bringing its portfolio to over 2M SFCedar Street closed on six properties: 5019 W Lawrence in Jefferson Park (six residential units and 2,215 SF of retail) was purchased for $1.1M through a Midland Bank short sale; 6019 N Winthrop Ave in Edgewater, an 81-unit SRO property, was a note purchase for $1.4M; 222 N Aberdeen St and 1101 W Fulton St (32k SF of mixed-use office and retail) in the West Loop were purchased for $4.2M through a foreclosure short sale and financed by American Chartered Bank; Read More…

Yahoo Travel

Five Miles Up: How Jay Michael designs a vacation

As Bravo’s reality series “100 Days of Summer” closes out its season, Jay Michael will most likely be eyeing vacation spots. So where might the COO/Co-Founder of FLATS Chicago find himself? He is, as his website describes him, a “Lifestyle Architect in search of the world’s best way to live.” Wherever the destination, he’ll “eat with the people, but sleep like royalty,” with healthy doses of hiking, biking and lugging copper cookware.

What’s something you never fail to pack in your suitcase?

Running gear. There’s no better way to become acquainted with a city than on an unmapped run. Read More…

Cheeky Chicago

Style Spotlight with Jay Michael

The Star of 100 Days of Summer Dishes about Fashion, Bravo TV and Everything Chicago

What do you get when you pair incredible design and style sensibility with a hot new Bravo show? You get Jay Michael, star of 100 Days of Summerand “life architect” (this might be our new favorite phrase), who took the time to chat with Cheeky about all things career and personal style (with a good dose of Chicago’s hit reality show sprinkled in). Read More…

Modern Luxury-Interiors Chicago

Hot Hoods!

Uptown Guy

Jay Michael, the local real estate and lifestyle expert making a name for himself with his progressive FLATS Chicago living concept, prefers “community organizer” over “developer” when referring to his profession, which has gained much momentum since he recently set his sights on the North Side. Read More…

Unite Business

LIVING LARGE IN SMALL SPACES

Over the past few months, I have spent a great deal of time editing my life. I had a 3.500-square-feet home packed with a ton of furniture and “stuff” along with a storage room packed with even more furniture and a tone more “stuff” form my former home.  Frankly, I was starting to feel suffocated not to mention wasteful. Read More…

Chicago Real Estate Daily

Alex Samoylovich paid $7.15 million for a busted condominium/retail project in the heart of Libertyville, where he now faces the task of finishing off a building that stymied another developer.

Mr. Samoylovich’s real estate investment firm, Cedar Street Co., acquired a three-story structure Nov. 6 at 601-611 N. Milwaukee Ave. in the north suburb’s downtown from a venture of Libertyville developer Joe Tremont. The sale price is less than the Read More…

Chicago Sun-Times

 Uptown’s Lawrence House sold for $7.5 million

The condition of Lawrence House, a 12-story apartment building in Uptown, is so bad that emergency work is being done to make sure an outer wall doesn’t collapse, said Ald. James Cappleman (46th).

And an infestation of bedbugs, he said, caused the city to stop booking its lobby as a polling place. Read More…

Crain’s Chicago Business

Notorious Uptown Apartment Building to get $14 million rehab

Apartment investor Cedar Street Co. paid $7.5 million to buy Uptown’s historic Lawrence House out of foreclosure, with plans to convert the dilapidated building into modern apartments. Read More…

Real Estate Bisnow

The Deal Sheet

Bradford Allen Realty Services’ new property management arm has added a fifth building to its rosterits first foray into downtownoffice. If only the Bulls had a similar full-strength starting fiveRead More…

Chicago Tribune

CEDAR STREET CO. CLOSES ON $16.2 MILLION DOLLAR STRATEGIC THREE-PROPERTY INDUSTRIAL AND RETAIL PORTFOLIO IN DOWNERS GROVE

CHICAGO, IL – Cedar Street Co. announces the acquisition of a three-property industrial and retail portfolio in suburban Downers Grove. Read More…

Chicago Social

 Salon Talk

The city’s real estate and art worlds are colliding in Uptown, where developer Jay Michael of FLATS Chicago has turned over an empty storefront last occupied by a cupcake shop to artist and the Salon Series founder JC Steinbrunner. Read More…

Chicago Grid

How Flats Chicago Is Reshaping Uptown And Other North Side Neighborhoods

 

Alex Samoylovich is marrying rich amenities with “approachable” rents to turn distressed properties around.

 

A decade ago, Alex Samoylovich’s experience in real estate amounted to an investment in an Albany Park nine-flat. Read More…

Sun Times

Small World: Micoliving Goes Glam On the North Side apartments in Uptown 

Making the most of a small space — or “microliving” — is on the rise among Chicagoans who want to live simply and stylishly in popular neighborhoods.  Read More…

REAL ESTATE BISNOW

Trend Alert: Micro Living

We’ve heard a lot about micro apartments (as teeny as 250 SF/unit) on both coasts offering high amenities for price-conscious Millennials. Here’s how Chicago is handling the trend of downsized living that appeals to a young professional’s price point.

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FLAVORWIRE

What Can Other Cities Teach New York About Micro-apartments?

Chicago

Building: FLATS Chicago, several potential locations
Price: Starting at $800/mo
Size: From just over 300 square feet to 420-square-foot one-bed units

Jay Michael never intended to build micro-housing. Read More…

Chicago Real Estate Daily

Former Michael Jordan’s building has buyer

Three suburban shopping centers and the former Michael Jordan’s Restaurant building in River North are for sale, part of a broader effort to raise cash and pay off creditors in a bankruptcy case involving what was once one of the area’s biggest minority-owned businesses. Read More…

Bloomberg BNA

Real Estate Law & Industry Report | Industry Sportlight

Micro-apartments, one of the latest trends in the multi-family housing asset class, are being built, proposed, or studied in such high-cost cities as New York, San Francisco, and Chicago.  Read More…

REJournals.com

Cedar Street Capital closes on Ashland Commons for $900,000

Cedar Street Co. has announced the closing of the 25-unit Ashland Commons, located at 7722 N. Ashland, Chicago. The three-story courtyard style residential building was purchased for $900,000 from 7722 North Ashland LLC. Cedar Street Co. will revitalize and rebrand the Rogers Park property as No. 7722 and will be owned and managed by Cedar Street Co.’s subsidiary company, FLATS Chicago. The building will feature complimentary wi-fi and washer/dryers in all units.
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Time Out Chicago

New small-space apartments in Uptown

A local developer renovates some rough buildings—and seeks housing for the residents he’s displacing. The hallways of Wilson Tower, a 12-story midrise at 1325 West Wilson Avenue, are dank and narrow. The stucco walls

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Chicago Sun-Times

‘Big Style in Smart Places’

Jay Michael and his business partners are intent on building apartments and a brand. They insist they can do it in a way that helps neighborhoods turn around. Uptown and Edgewater on the North Side are about to put them to the test.

Read More…