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Hearn Co. Acquires 55 W. Monroe St. Office Tower; John O’Donnell Plans New Office Building

Hearn Co. Acquires 55 W. Monroe St. Office Tower; John O’Donnell Plans New Office Building

By Gabriel Circiog, Associate Editor The 803,000-square-foot office high-rise at 55 W. Monroe St. has been purchased by Hearn Co. for $136 million, ChicagoRealEstateDaily.com reports. The deal was brokered by Chicago-based Jones Lang LaSalle Inc., which announced Hearn financed the acquisition [...]…

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GE Capital Looking to Offload Three Suburban Office Complexes

GE Capital Looking to Offload Three Suburban Office Complexes

By Gabriel Circiog, Associate Editor GE Capital will sell three suburban office complexes, totaling around 1.2 million square feet, ChicagoRealEstateDaily.com reports. The properties were acquired in 2007 by the General Electric Co. for $302 million but they are likely to get [...]…

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Sara Lee Corp. Chooses Chicago as Home of the New American Meats Co.

Sara Lee Corp. Chooses Chicago as Home of the New American Meats Co.

By Gabriel Circiog, Associate Editor The Downers Grove, Ill.-based Sara Lee Corp. will relocate its new North American Meats corporate headquarters in 2013 to Chicago’s 400 S. Jefferson Street, Mayor Rahm Emanuel has announced. Sara Lee Corp. announced earlier this year that [...]…

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L&B Realty Advisors Buys 304-Unit Multi-Housing Community; Ascend Real Estate Group Plans Mixed-Use Building

L&B Realty Advisors Buys 304-Unit Multi-Housing Community; Ascend Real Estate Group Plans Mixed-Use Building

By Gabriel Circiog, Associate Editor HFF (Holliday Fenoglio Fowler L.P.) recently closed the sale of a 304-unit luxury multi-housing community in Chicago’s River North neighborhood. The 25-story community, 77 West Huron, was marketed on behalf of the seller, Archstone. L&B Realty [...]…

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Laramar Group to Buy Historic Belden-Stratford; Prudential Acquires 439,434-Square-Foot Office Tower

Laramar Group to Buy Historic Belden-Stratford; Prudential Acquires 439,434-Square-Foot Office Tower

By Gabriel Circiog, Associate Editor The landmark Belden-Stratford, overlooking Lincoln Park, is being acquired by Laramar Group for nearly $60 million. ChicagoRealEstateDaily.com reports the 297-unit apartment hotel, located at 2300 Lincoln Park West, was bought from an affiliate of IRMCO Properties [...]…

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$550M Redevelopment Project Proposed Near McCormick Place

$550M Redevelopment Project Proposed Near McCormick Place

By Gabriel Circiog, Associate Editor A massive redevelopment plan is surfacing again for the strategic parcel of land located near McCormick Place on two square blocks between Cermak Road and 21st Street. As the Chicago Journal reported earlier this year, the [...]…

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Aon Corp. and PricewaterhouseCoopers LLP Top the Year in Office Lease Transactions for Chicago

Aon Corp. and PricewaterhouseCoopers LLP Top the Year in Office Lease Transactions for Chicago

By Gabriel Circiog, Associate Editor Two of the largest office lease transactions in Chicago this year were reported this week by ChicagoRealEstateDaily.com. The insurance brokerage company Aon Corp. tops the charts this year after renewing a lease for about 400,000 square [...]…

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First Office High-Rise Since 2010 to be Built in Downtown Chicago; Shorenstein Properties Acquires Former Apparel Center

First Office High-Rise Since 2010 to be Built in Downtown Chicago; Shorenstein Properties Acquires Former Apparel Center

By Gabriel Circiog, Associate Editor Since 2010, when the Blue Cross Blue Shield Building at 300 E. Randolph was completed, downtown Chicago has not seen the rise of any new office buildings. A report on the market by CB Richard Ellis [...]…

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Canyon-Johnson Invests in Harper Court Redevelopment for Hyde Park

Canyon-Johnson Invests in Harper Court Redevelopment for Hyde Park

By Gabriel Circiog, Associate Editor Harper Court, the redevelopment project for Hyde Park, has found a new partner in Canyon-Johnson Urban Funds, the real estate investment fund led by Earvin “Magic” Johnson. The fund will provide a majority of the $16 [...]…

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City Landmark to Become First Chicago Virgin Hotel

City Landmark to Become First Chicago Virgin Hotel

By Veronica Grecu, Associate Editor The city of Chicago is about to welcome a new player to the hospitality market. New York-based Virgin Hotels acquired the Old Dearborn Bank Building, located in the Loop at 203 N. Wabash Ave., at the [...]…

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Local Investors Help Suburban Condo Market Rise Again

Local Investors Help Suburban Condo Market Rise Again

By Veronica Grecu, Associate Editor Despite the rather gloomy condo market, Greg Moyer of Skokie-based Moyer Properties LLC teamed up with local investors David Nankin and Jeffrey Annenberg to acquire a 154-unit Buffalo Grove condominium project for nearly $12 million, reports [...]…

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Chicago High-End Condo Market Still Sluggish

Chicago High-End Condo Market Still Sluggish

By Veronica Grecu, Associate Editor According to ChicagoRealEstateDaily.com, the city’s high-end condo market is far from healthy; only three condo units changed hands for more than $3 million in the past month. From a broader point of view, the number of [...]…

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