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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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New Tech Center for Chicago Startups; LifeStorage Expands Portfolio

New Tech Center for Chicago Startups; LifeStorage Expands Portfolio

By Veronica Grecu, Associate Editor The Chicago Tribune reports that a new center for technology start-ups could be opened next year by local business leader, venture capitalist and philanthropist J.B. Pritzker, who has teamed up with various investors such as Troy [...]…

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Two Chicago-Area Office Buildings to Change Hands

Two Chicago-Area Office Buildings to Change Hands

By Veronica Grecu, Associate Editor ChicagoRealEstateDaily.com reports that Wakefield, Mass.-based Franklin Street Properties is about to close a transaction for a six-story office building located at 909 Davis Street in Downtown Evanston. According to sources familiar with the deal, the sale [...]…

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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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