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Nokia to Relocate Itasca Division to Chicago

Nokia to Relocate Itasca Division to Chicago

Nokia confirmed its commitment to Chicago by announcing, together with Mayor Rahm Emanuel, the relocation of its Mobile Phones Xpress Internet Services group from Itasca to Chicago. Nokia’s largest office in North America is already located in Chicago and houses approximately 1,200 employees.…

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La Casa Student Housing Development Opens in Chicago’s Pilsen Neighborhood

La Casa Student Housing Development Opens in Chicago’s Pilsen Neighborhood

Governor Pat Quinn, representatives of The Resurrection Project and local legislators have announced the opening of the La Casa Student Housing development. Located in Chicago’s Pilsen neighborhood at 1818 S. Paulina St., the six-story residence hall offers students all the benefits of on-campus housing, including live in-resident advisors for ongoing…

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Joint Venture Acquires 278-unit Class A High-Rise Apartment Building in South Loop

Joint Venture Acquires 278-unit Class A High-Rise Apartment Building in South Loop

American Realty Advisors, in a joint venture with Naperville, Ill.-based Marquette Companies and Hunt Companies Inc., has acquired a 278-unit Class A high-rise apartment building in Chicago’s South Loop submarket.…

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HDR Architecture Selected as Architect of Chicago’s Mixed-Use Focal Point Community Campus

HDR Architecture Selected as Architect of Chicago’s Mixed-Use Focal Point Community Campus

Omaha, Neb.-based HDR Architecture Inc. has been selected as the architect for Chicago’s mixed-use Focal Point community campus. Abbie Clary, HDR project principal, said: “This is an incredibly meaningful project, one that most architecture firms get few opportunities to design.”…

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330 N. Wabash Gets New Tenant; Suburban Baker Hill Center Acquired by REIT

330 N. Wabash Gets New Tenant; Suburban Baker Hill Center Acquired by REIT

By Gabriel Circiog, Associate Editor The landmark 330 N. Wabash is welcoming a new tenant, as Creative Circle LLC has signed a lease for 7,128 square feet on the 14th floor of Prime Group Realty Trust’s office building. The staffing firm has agreed to a five and a half-year lease…

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Forest City Enterprises Plans to Sell Remaining Land Holding in Central Station Development

Forest City Enterprises Plans to Sell Remaining Land Holding in Central Station Development

By Gabriel Circiog, Associate Editor Cleveland-based Forest City Enterprises Inc. has signed a letter of intent to sell its remaining land holdings in the Central Station development, ChicagoRealEstateDaily.com reports. Located in the South Loop, the large-scale residential project has managed to transform the neighborhood before being hit by the condo…

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Hamilton Partners to Buy 57-Acre Kraft Foods Office Campus

Hamilton Partners to Buy 57-Acre Kraft Foods Office Campus

By Gabriel Circiog, Associate Editor Itasca-based developer Hamilton Partners has signed a contract to purchase Kraft Foods Inc.’s office campus in north Glenview and Morton Grove, ChicagoRealEstateDaily.com reports. The 57-acre suburban property, located at Gold and Waukegan roads, includes two buildings with around 500,000 square feet of office space. Hamilton…

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Chesapeake Lodging Trust Acquires W Chicago-Lakeshore Hotel

Chesapeake Lodging Trust Acquires W Chicago-Lakeshore Hotel

By Gabriel Circiog, Associate Editor Chesapeake Lodging Trust announced that it has purchased the W Chicago-Lakeshore hotel from Starwood Hotels & Resorts Worldwide Inc. The Annapolis-based real estate investment trust paid $126 million, or around $242,000 per key, for the 32-story hotel. Located at 644 North Lake Shore Dr. overlooking…

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Tishman Speyer Plans to Sell 31-Story Office Tower in Downtown Chicago

Tishman Speyer Plans to Sell 31-Story Office Tower in Downtown Chicago

By Gabriel Circiog, Associate Editor Tishman Speyer Properties LP is planning to take advantage of Chicago’s strong downtown office investment market and has decided to put up for sale a West Loop office tower, ChicagoRealEstateDaily.com reports. The 31-story office building, located at 125 South Wacker Dr., was acquired by Tishman…

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Advocate Health Care Plans Two Hospital Projects Totaling $455 Million

Advocate Health Care Plans Two Hospital Projects Totaling $455 Million

By Gabriel Circiog, Associate Editor Advocate Health Care plans to take advantage of record-low interest rates and is moving forward with two hospital projects totaling $455 million in the Chicago area, Crain’s Chicago Business reports. According to documents filed with the Illinois Health Facilities and Services Review Board—the entity that…

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Prudential Acquires Retail and Restaurant Space in John Hancock’s Center for Almost $142 Million

Prudential Acquires Retail and Restaurant Space in John Hancock’s Center for Almost $142 Million

By Gabriel Circiog, Associate Editor John Hancock Center’s retail and restaurant space has been acquired by Prudential Real Estate Investors for close to $142 million, ChicagoRealEstateDaily.com reports. As previously reported by Commercial Property Executive, a joint venture including Deutsche Bank A.G. and NorthStar Realty Finance Corp. seized the property earlier…

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Foreign Investors Sought for New Proposed Multi-Hotel Complex and Convention Center

Foreign Investors Sought for New Proposed Multi-Hotel Complex and Convention Center

By Gabriel Circiog, Associate Editor The Intercontinental Regional Center Trust of Chicago (IRCTC) and Chicago developer Anshoo Sethi are hoping to attract foreign investors via the EB-5 program for their proposed multi-hotel complex and convention center near O’Hare International Airport. The proposed development is projected to have a total economic…

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