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Wrigley Building’s New Owners Announce Revamp Plans

Wrigley Building’s New Owners Announce Revamp Plans

By Veronica Grecu, Associate Editor Last week Wm. Wrigley Jr. Co. confirmed the sale of its eponymous building, located at 400-410 North Michigan Avenue, Near North Side, and an adjacent 1.5-acre lot to a team of investors led by BDT Capital [...]…

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Wanted: New Owner and New Name For the Elysian; GreenChoice Bank Sets Foot in Chicago

Wanted: New Owner and New Name For the Elysian; GreenChoice Bank Sets Foot in Chicago

By Veronica Grecu, Associate Editor Two years after its grand opening, Chicago’s newest high-end hotel, the Elysian, is looking for a new owner. ChicagoRealEstateDaily.com quotes some sources close to the hotel’s board who claim that Jones Lang LaSalle Inc. was hired to [...]…

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Joliet Church Goes Residential; ABA to Extend Operations on 200K SF

Joliet Church Goes Residential; ABA to Extend Operations on 200K SF

By Veronica Grecu, Associate Editor The Diocese of Joliet has approved a redevelopment project proposed by Celadon Holdings. A diocese official quoted by The Herald News revealed that the Chicago-based developer plans to transform the St. Mary Carmelite Church into a [...]…

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Federal Grant to Revitalize Woodlawn; Antheus Capital LLC Buys Regents Park Complex

Federal Grant to Revitalize Woodlawn; Antheus Capital LLC Buys Regents Park Complex

By Veronica Grecu, Associate Editor The U.S. Housing and Urban Development’s Choice Neighborhoods, a $122 million program meant to revitalize certain neglected communities in Boston, Chicago, New Orleans, San Francisco and Seattle, has awarded $30.5 million to Chicago’s Woodlawn community. According to [...]…

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Low Class A Office Vacancy Rate Equals Good News for Real Estate Investors

Low Class A Office Vacancy Rate Equals Good News for Real Estate Investors

By Veronica Grecu, Associate Editor ChicagoRealEstateDaily.com reports that a 40-story office tower located at 55 W. Monroe St. will be sold for about $140 million to Hearn Co., a local investment company that teamed up with an undisclosed New York-based capital [...]…

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New Lives for Jones College Prep Building and Sheraton Hotel

New Lives for Jones College Prep Building and Sheraton Hotel

By Veronica Grecu, Associate Editor The Chicago Journal reports that construction has finally started at Jones College Prep’s new building on South State, on the old Pacific Garden Mission property. The estimated cost for the seven-story facility is $91 million, but [...]…

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103-year-old Chicago Building to Be Renovated; O’Hare Extension Could Stop

103-year-old Chicago Building to Be Renovated; O’Hare Extension Could Stop

By Veronica Grecu, Associate Editor A vacant West Loop office building located at 564 W. Randolph St. was sold by an affiliate of W. P. Carey & Co. LLC to Chicago developer Sterling Bay Cos. for $4.7 million or $51 per [...]…

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Renovation Plans for the Chicago Main Post Office Building Call for the Tallest U.S. Tower

Renovation Plans for the Chicago Main Post Office Building Call for the Tallest U.S. Tower

By Veronica Grecu, Associate Editor Bill Davies, a British developer who owns the currently vacant Chicago Main Post Office Building, has announced his plans to renovate the building and the surrounding area to transform the site into an “urban mecca” that [...]…

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Incentives to Offset Residential Housing Include Smoke-Free Apartments

Incentives to Offset Residential Housing Include Smoke-Free Apartments

By Veronica Grecu, Associate Editor A series of incentives meant to stir things up in the Chicago residential market may prove to be quite attractive for prospective renters or home buyers. According to the International Business Times, Bank of America plans to [...]…

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Navy Pier to be Redeveloped; New Campus Building for Roosevelt University

Navy Pier to be Redeveloped; New Campus Building for Roosevelt University

By Veronica Grecu, Associate Editor Chicago’s Navy Pier redevelopment plan, dubbed the “Centennial Vision,” was revealed last week by the Metropolitan Pier and Exposition Authority (MPEA) and the recently formed Navy Pier Inc. The improvements will include expanded recreation space and [...]…

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Increased Home Prices, Low Vacancy Rate in Chicago Area

Increased Home Prices, Low Vacancy Rate in Chicago Area

By Veronica Grecu, Associate Editor With home prices improving for the third month in a row, the Chicago area real estate struggle might come to an end. A report issued last week by the Illinois Association of Realtors (IAR) and quoted [...]…

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Residential Boom, Revamped Planetarium in Chicago

Residential Boom, Revamped Planetarium in Chicago

By Veronica Grecu, Associate Editor Chicago seems to be heading toward an apartment construction boom. The Chicago Sun-Times recently listed the most prominent residential communities under development in Chicago. An old office tower at 188 W. Randolph St., built in the [...]…

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