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BEMT Invests in 24-Story Mixed-Use Luxury Rental Community

BEMT Invests in 24-Story Mixed-Use Luxury Rental Community

Bluerock Enhanced Multifamily Trust has recently announced its investment in MDA City Apartments, a mixed-use luxury rental community in downtown Chicago. The New York-based non-traded real estate investment trust has partnered with Village Green, the owner of the 24-story building. Village Green is an owner / operator with a portfolio…

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Duke Realty Corporation Expands Portfolio in Chicago with Purchase of 288,000 SF Industrial Building

Duke Realty Corporation Expands Portfolio in Chicago with Purchase of 288,000 SF Industrial Building

Duke Realty Corporation recently announced the acquisition of 335 W. Crossroads, a 288,000-square-foot industrial building in the I-55 submarket, which is Chicago’s second largest industrial market. The real estate investment trust, which specializes in the ownership, management and development of bulk industrial facilities, also announced it has leased 190,080 square…

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ST Residential LLC Puts 326-unit Lex up for Sale

ST Residential LLC Puts 326-unit Lex up for Sale

Chicago-based ST Residential LLC has hired brokers Holliday Fenoglio Fowler and Eastdil Secured to manage the sale of a 13-property portfolio, with an estimated value of close to $1 billion.…

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Construction Begins on 45-Story West Loop Office Tower

Construction Begins on 45-Story West Loop Office Tower

Chicago’s largest commercial real estate project in five years kicked off on January 15 in a $400 million joint venture between Canada-based Ivanhoé Cambridge—the real estate arm of Quebec pension fund manager Caisse de dépôt et placement du Québec, developer Hines of Houston and local business leader Larry Levy.…

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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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