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Closed Hotel to be Reintroduced to Market as Le Meridien Chicago at Oak Brook

Closed Hotel to be Reintroduced to Market as Le Meridien Chicago at Oak Brook

A shuttered Renaissance-branded hotel next to the Oakbrook Center shopping center in Chicago’s Oak Brook suburb will reopen in early 2014 under the Le Meridien flag. The announcement was made last week by Starwood Hotels & Resorts Worldwide, Inc., who teamed up with real estate investment firm RockBridge Partners of…

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Transwestern Brokers Sale of Oak Creek Center Office Portfolio

Transwestern Brokers Sale of Oak Creek Center Office Portfolio

Transwestern’s Chicago office recently announced that it has brokered, on behalf of KBS Realty Advisors, the sale of the Oak Creek Center office portfolio in Lombard, Ill. A joint venture between Investcorp and Golub acquired the 427,161-square-foot office portfolio for $39.5 million.…

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Capital One Set to Open New Office Space in Chicago’s Loop

Capital One Set to Open New Office Space in Chicago’s Loop

Capital One Financial Corporation will open a new office space in the Chicago’s central business district, the Loop, the announcement came from the company and Chicago Mayor Rahm Emanuel. Capital One will sublease around 65,000 square feet of office space in the building owned by State Teachers Retirement System of…

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Health Care REIT Expands Portfolio

Health Care REIT Expands Portfolio

Ohio-based Health Care REIT Inc. has acquired a 192-unit senior housing development in Lake Barrington for $81.7 million from a joint venture between Senior Lifestyle Corp. and Walton Street Capital LLC,…

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Retail Properties of America Inc. Sells Aon Hewitt Property; Walgreens Opens Store in Restored Noel State Bank Building

Retail Properties of America Inc. Sells Aon Hewitt Property; Walgreens Opens Store in Restored Noel State Bank Building

Retail Properties of America Inc. has announced the sale of the Aon Hewitt Property. Located in Lincolnshire, Ill. at 4 Overlook Point, the 818,686-square-foot office property is fully leased to Aon Corporation. The six-story office building is situated around 31 miles north of Chicago and was sold for $148 million…

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New York Investors Buying Up Prime Office Properties in Downtown Chicago

New York Investors Buying Up Prime Office Properties in Downtown Chicago

A venture led by Michael Silberberg of Nanuet, N.Y.-based Berkley Properties LLC has agreed to buy the downtown Chicago Bank of America Building for $97 million.…

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AFL-CIO BIT Announces Investment in Wolf Point Development; Developer Smoothes Infrastructure Details

AFL-CIO BIT Announces Investment in Wolf Point Development; Developer Smoothes Infrastructure Details

The AFL-CIO Building Investment Trust recently announced an investment in the proposed Wolf Point Development. The BIT joins Hines, Kennedy Enterprises and the Magellan Development Group in an effort to revitalize the long-stagnating site along Chicago’s river, one of the last prime undeveloped pieces of land around downtown Chicago.…

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Sterling Organization Acquires Hoffman Plaza Shopping Center

Sterling Organization Acquires Hoffman Plaza Shopping Center

Palm Beach, Fla.-based Sterling Organization recently announced the acquisition of Hoffman Plaza—a 168,342-square-foot shopping center located in Hoffman Estates. The property was purchased for $14.15 million through the company’s institutional fund, Sterling Value Add Partners.…

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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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