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Real Estate Market Still Slow Despite Incentives

Real Estate Market Still Slow Despite Incentives

By Veronica Grecu, Associate Editor With only 25 percent of approvals granted to the recently approved low-income housing development on Madison Street, two Oak Park developers are now trying to find alternative ways to gather funds for their $15 million redevelopment [...]…

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New Marriott Hotel in Naperville; Oak Park Developer Bankrupt

New Marriott Hotel in Naperville; Oak Park Developer Bankrupt

By Veronica Grecu, Associate Editor Six months after the Janko Group announced the acquisition of the former Holiday Inn at 1801 Naper Boulevard, in a joint venture with the Bricton Group and a Heitman-managed real estate fund, the building was demolished [...]…

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Residential and Commercial Deals Thrive in West Loop

Residential and Commercial Deals Thrive in West Loop

By Veronica Grecu, Associate Editor Van Buren Lofts has recently started selling high-end residential units in a newly rehabbed building located at 1224 West Van Buren St. in the West Loop of Chicago. The eight-story building, which is now owned by [...]…

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Low Vacancy Rates Enliven the Loop

Low Vacancy Rates Enliven the Loop

By Veronica Grecu, Associate Editor A new report by Baum Realty Group shows that retail vacancies in Chicago’s downtown district fell to 6.9 percent in 2010, from 8.3 percent in 2009, and the figures are expected to reach even lower rates [...]…

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New Residential Developments Planned Across Chicago

New Residential Developments Planned Across Chicago

By Veronica Grecu, Associate Editor See Wong, the owner of Wabash Development Group, has recently acquired a 26,000-sq.-ft. warehouse in Chinatown for $3.88 million. The three-phase project that is to be constructed here will include condominiums for students, a hotel and [...]…

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Chicago Welcomes Certified Green Home Rehabs and New Rentals

Chicago Welcomes Certified Green Home Rehabs and New Rentals

By Veronica Grecu, Associate Editor A new joint venture redevelopment in Chicago’s suburb Cicero is on track to become the first green certified home rehab in Illinois. CM Real Estate Development, a rehab and redevelopment company based in Chicago, has joined [...]…

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New Transactions for Chicago’s Industrial and Residential Real Estate Markets

New Transactions for Chicago’s Industrial and Residential Real Estate Markets

By Veronica Grecu, Associate Editor Two new industrial transactions have been recently negotiated by Colliers International in the O’Hare market. The first transaction is a long-term lease at 855 N. Wood Dale Road in Wood Dale for Hegele Logistics LLC. Hegele Logistics [...]…

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Arts, Sports Inspire Chicago Redevelopment

Arts, Sports Inspire Chicago Redevelopment

By Veronica Grecu, Associate Editor One of Chicago’s neighborhoods currently under reconstruction displays artistic finishes, thanks to Theaster Gates, an artist, musician and “cultural planner.” Gates conceived the Dorchester Projects in an effort to revitalize the city’s Greater Grand Crossing neighborhood. [...]…

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Chicago’s Recovery Promises Higher Rents

Chicago’s Recovery Promises Higher Rents

By Veronica Grecu, Associate Editor Judging by the falling number of loan delinquencies, rising property values and increased rents for office buildings, Chicago’s commercial real estate shows signs of recovery from the credit crisis and recession. This will have a positive [...]…

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