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Sunstone Hotel Investors to Purchase Hilton Garden Inn Chicago Downtown

Sunstone Hotel Investors to Purchase Hilton Garden Inn Chicago Downtown

By Gabriel Circiog, Associate Editor Sunstone Hotel Investors Inc. has entered into a purchase and sale agreement to acquire the Hilton Garden Inn Chicago Downtown/Magnificent Mile for a gross purchase price of $91.75 million. The 357-room hotel, located at 10 E. Grand Ave. in downtown Chicago, is expected to generate…

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Waterton Residential Acquires Boutique Seneca Hotel; Two Affordable Housing Projects Receive $11M Support

Waterton Residential Acquires Boutique Seneca Hotel; Two Affordable Housing Projects Receive $11M Support

By Gabriel Circiog, Associate Editor Chicago’s Seneca Hotel has been acquired by Waterton Residential, a subsidiary of Waterton Associates LLC. The boutique hotel, located in the Gold Coast neighborhood, will be restored to a select apartment community, with renovated apartments available for occupancy beginning in mid-June. The 260 newly restored…

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MB Real Estate Expands Leasing Portfolio in Downtown Chicago

MB Real Estate Expands Leasing Portfolio in Downtown Chicago

By Gabriel Circiog, Associate Editor MB Real Estate has announced the expansion of its leasing portfolio to over 14.4 million square feet. The Chicago-based company, founded in 1982, has been awarded five new leasing assignments in downtown Chicago. The new additions include 300 E. Randolph—a 57-story tower owned and anchored…

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Chicago Plan Commission Approves Two New Projects

Chicago Plan Commission Approves Two New Projects

By Gabriel Circiog, Associate Editor The Chicago Plan Commission has given the green light for two new projects: the 3750 North Halsted and the 454 N. Park Drive developments, ChicagoRealEstateDaily.com reports. The 3750 North Halsted is a joint venture between Chicago-based JDL Development Corp. and Norridge-based Harlem Irving Cos. The…

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Ivanhoe and Hines to Build $300M Chicago Office Tower

Ivanhoe and Hines to Build $300M Chicago Office Tower

By Gabriel Circiog, Associate Editor Ivanhoe Cambridge and Hines have partnered to develop a 45-story office tower in the West Loop in downtown Chicago. The announcement came from Mayor Rahm Emanuel, who said the $300 million project is “a vote of confidence for our city, welcome news for the local…

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Chicago and Aeroterm LLC Reach Agreement for $200M Project at O’Hare

Chicago and Aeroterm LLC Reach Agreement for $200M Project at O’Hare

By Gabriel Circiog, Associate Editor The City of Chicago has reached an agreement with Aeroterm LLC to start construction of the Chicago O’Hare International Airport Northeast Cargo Center. Mayor Rahm Emanuel announced the development project, which will expand and enhance the efficiency of O’Hare’s airport cargo operations, as well as…

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Lowe Enterprises Investors Acquire Affinia Chicago Hotel

Lowe Enterprises Investors Acquire Affinia Chicago Hotel

By Gabriel Circiog, Associate Editor The 28-story Affinia Chicago Hotel has been acquired by Lowe Enterprises Investors on behalf of an investment client. The seller, Denihan Hospitality Group, was represented by Eastdil Secured. Lowe Enterprises Investors represented itself in the transaction. Hotel management will be taken over by Destination Hotels…

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John Hancock Real Estate Acquires 150 North Michigan Avenue Office Tower

John Hancock Real Estate Acquires 150 North Michigan Avenue Office Tower

By Gabriel Circiog, Associate Editor The 41-story 150 North Michigan Avenue office tower has been acquired by John Hancock Real Estate—the U.S. unit of Manulfie Real Estate—for $102 million. As previously reported by Commercial Property Executive, Jones Lang LaSalle Inc. was hired by Germany-based SEB Asset Management A.G. to market…

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TGM Associates LP Acquires 576-Unit Apartment Complex in Schaumburg

TGM Associates LP Acquires 576-Unit Apartment Complex in Schaumburg

By Gabriel Circiog, Associate Editor In one of the biggest suburban multifamily purchases in over four years, an affiliate of New York-based TGM Associates LP paid $86.7 million for an apartment complex in Schaumburg, ChicagoRealEstateDaily.com reports. Located at 10 N. Lincoln Meadows Drive, the 576-unit apartment complex was built in…

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Chicago Senior Care Acquires Clare at Water Tower in Bankruptcy Auction

Chicago Senior Care Acquires Clare at Water Tower in Bankruptcy Auction

By Gabriel Circiog, Associate Editor Chicago Senior Care LLC has acquired the luxury senior-housing high-rise Clare at Water Tower after winning an auction in the U.S. Bankruptcy Court in Chicago, Chicagorealestatedaily.com reports. The partnership between Harrison, N.Y.-based Senior Care Development LLC, New York-based Fundamental Advisors LP and Des Moines, Iowa-based…

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Holliday Fenoglio Fowler Hired to Sell 1401 S. State St. and North Shore Hotel

Holliday Fenoglio Fowler Hired to Sell 1401 S. State St. and North Shore Hotel

By Gabriel Circiog, Associate Editor Holliday Fenoglio Fowler L.P. has been hired by a venture that includes Sam Zell’s Equity Residential and Dallas-based developer Lincoln Property Co. to market a 22-story apartment building located at 1401 S. State St., Chicagorealestatedaily.com reports. The South Loop urban loft high-rise was completed in…

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Canadian REIT Acquires Westfield Business Park in Elgin

Canadian REIT Acquires Westfield Business Park in Elgin

By Gabriel Circiog, Associate Editor Westfield Business Park, a 513,313-square-foot office complex located in Elgin, has been acquired by a newly formed Canadian real estate investment trust, Chicagorealestatedaily.com reports. In February, Commercial Property Executive reported on the intensified activities of Canadian REITs in the U.S. market after Vancouver, B.C.-based Onni…

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