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REAL ESTATE NEWS rising developments UP IS THE OPERATIVE WORD THIS MONTH FOR COLLECTORS IN SEARCH OF HIGH CEILINGS AND LUXURY HOMES. BY LISA SKOLNIK Art-Smart Apartments A rt collectors will be out in force at Expo Chicago from September 20 through 23, but finding a pad with expansive walls and soar- ing ceilings artworks is no small feat. "Very few buildings or houses have such grand dimensions," says Baird & Warner's Gail Missner (312-981-2814), whose favorite art-friendly buildings are a vintage neoclassi- cal on East Lake Shore Drive for its sprawling 5,500-square-foot floor-plate, high ceilings, and expansive gallery-style foyers, and the decade-old Beaux Arts–style Gold Coast mid-rise at 65 East Goethe Street. But it's notoriously difficult to buy into each build- ing. At the Lake Shore Drive property, which is currently home to some of the city's most respected collectors (including Marilynn Alsdorf and Michael Alper), there are two units on the market: 1E for $4.975 million through Baird & Warner's Pamela Sage (312-981- 2788) and 7E for $5.995 million through Baird & Warner's Verna Stovall (312-981-2390). At the Goethe Street address, there's an unfinished 3,200-square-foot pent- house owned by billionaire Bill Wrigley listed for $3.5 million through Baird & Warner's Kinney (312-981-2081). Jim For a more economical art-smart sell, Baird & Warner's Robert John Anderson (312-980-1580) recom- mends two adaptive reuse structures whose high ceilings, broad walls, and deep floor-plates keep art away from direct sunlight. At the former Furniture Mart at 680 North Lake Shore Drive, apartment 1004, a 2,750-square-foot unit with an unob- structed lake view, is on the market for $850,000 (Baird & Warner's I.B. Weil, 312-640-7010). The Mont- gomery, at 500 West Superior Street, is marketing unit 2110, which sports a spacious 2,245 square feet and 12-foot-high ceilings. 134 MICHIGANAVEMAG.COM An apartment listed at $850,00 is available at 680 North Lake Shore Drive, the former Furniture Mart. A condo at 1035 North Dearborn Parkway sold for $1.475 million after just two weeks. Deals and Steals I to accommodate large-scale n mid-July, Crain's Chicago Business noted that "the housing crash ends—for some," as increased demand for tony homes (mostly on Chicago's North Side and North Shore) has spurred bidding wars. A day later, a study from real estate data company Zillow Apartments at 65 East Goethe Street have grand dimensions, but the building is notoriously difficult to buy into. deemed Chicago the best buyer's market in the country, as 48 percent of area homes sold for an average of five percent less than their last asking price in May. So which is it? The answer is a bit of both. "If something is priced right, it moves. If not, it languishes," says Prudential Rubloff's Brad Lippitz (773- 230-5100). His recent examples are a $1.475 million Gold Coast condo at 1035 North Dearborn Parkway, which sold in two weeks (though it didn't budge last year at $1.749 mil- lion), and a $1.26 million deal at 1727 West Winchester Avenue, which sold before it even went on the market. Prudential Rubloff's Nemerovski Joanne (312-264-1100) re c ent ly had a bidding war on a Lincoln Park home and sold three others (two in Lincoln Park; one in Lakeview) in less than three months. Both have hot properties on the market they expect to sell quickly. Lippitz is "showing the heck" out of a 3,700-square- foot, four-bedroom condo at 451 West Aldine Avenue in the Nettelhorst School district for $1.495 million and a five-bed- room, 4,600-square-foot home at 2431 West Grace Street for $999,000 in the Bell School dis- trict. And Nem erovski get ting heavy action at 439 East North Water Street is in River A meticulously modernized Victorian at 2038 North Orleans Street is now listed at $2.495 million, down from $2.795 million. East, where a 6,200-square-foot riverfront townhouse was re - duced to $2.999 million from $3.495 million, and a modern- ized Lincoln Park Victorian at 2038 North Orleans Street is now $2.495 million, down from $2.795 million. MA