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ClubCorp Expands in Chicago with Rolling Green Country Club

30 Jan 2015, 4:05 am

By Ioana Neamt, Associate Editor

Rolling Green Country Club

Dallas-based ClubCorp, an owner and operator of private golf and country clubs, has acquired Rolling Green Country Club in Arlington Heights, Ill. The acquisition marks ClubCorp’s second investment in the Chicago area this month, following the acquisition of Ravinia Green Country Club in Riverwoods.

“We are very excited to be announcing this addition of a second private golf and country club in Chicago and even further expanding our presence in the area, which is quickly becoming one of our key markets,” said Eric Affeldt, ClubCorp president & CEO. “Our many members traveling to Chicago can now take advantage of two world-class private golf and country clubs, as well as two premier business clubs in the heart of downtown.” ClubCorp also owns and operates The Mid-America Club and The Metropolitan Club in downtown Chicago.

Rolling Green Country Club is set to undergo a $1.5 million reinvention project, including renovations and upgrades to the golf course, pool complex and clubhouse. Rolling Green currently offers an 18-hole, 6,536-yard golf course; practice facilities; a 2,200-square-foot recreation and fitness center; a swimming pool; a kids club; as well as a variety of dining options. The golf club is also the only place in Arlington Heights where firing a gun is legal. Located at 2525 E. Rand Road, it sits roughly 25 miles from downtown Chicago.

Image courtesy of Golf Digest

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JLL Income Property Trust Pays $16M for Chicago Parking Garage

30 Jan 2015, 2:12 am

By Ioana Neamt, Associate Editor

33 W Ontario St

Jones Lang LaSalle Income Property Trust Inc. recently completed the purchase of Ohio Ontario Self Park, a 336-stall parking garage in Chicago’s River North area. According to a news release, the purchase price for the property was $16.9 million, with an estimated capitalization rate based on a purchase price of 6.7 percent.

The six-story parking garage sits at the base of the Millennium Centre, a 59-story, 364-unit luxury condominium tower located at 33 W. Ontario St. Conveniently located just blocks away from Chicago’s Magnificent Mile, the garage has entrances accessing both Ohio and Ontario streets, and provides easy access to Kennedy Expressway.

“This investment furthers our diversification objectives and offers JLL Income Property Trust stable cash flow, with strong potential to increase revenue by closing the gap on submarket parking rates and taking advantage of the location’s robust demand from a growing residential, hotel, office, retail and entertainment supply,” said Allan Swaringen, president & CEO of JLL Income Property Trust.

JLL Income Property Trust also entered into a lease agreement recently with a subsidiary of Vancouver-based Imperial Parking, one of the largest parking facility managers in North America.

Image courtesy of Wikimapia.org

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First Ever Virgin Hotel Opens in Chicago

24 Jan 2015, 2:52 pm

By Ioana Neamt, Associate Editor

203 N Wabash Ave

The first property to be part of Sir Richard Branson’s new Virgin Hotels brand opened its doors in Chicago, marking a significant milestone in the history of the Virgin Group.

Located at 203 N. Wabash Ave. in the historic Old Dearborn Bank Building, Virgin Hotels Chicago offers 250 guests rooms, including two penthouse suites and 40 one-bedroom suites. According to a statement released by Virgin, the new hotel offers free Wi-Fi with unlimited bandwidth, and has eliminated room service delivery charges, early check-in fees, late check-out fees, as well as any other fees that might overcharge its guests.

“It’s been a long-held dream to start beautiful, comfortable, fun hotels for guests and give them what they want and need while being gentle on their wallets,” said Virgin Group founder Richard Branson. “I’m tremendously proud of the brilliant Virgin Hotels team, and I look forward to hosting our fans and spending more time in Chicago.”

Virgin Hotels Chicago will offer guests a variety of dining options, including the two-story The Commons Club, Miss Ricky’s all-American diner, and a rooftop bar and lounge.

The Commons Club

The hotel also incorporates a rooftop gym, three modular spaces for social events and meetings, and a spa that will open in the spring of 2015. Room amenities include a full vanity, make-up desk and mirror, extra-large shower, LG Smart TV, mini-fridge, as well as the brand’s patent-pending, ergonomically designed bed.

Virgin Hotels intends to open 20 brand hotels by 2025, all designed to achieve LEED Silver certification from the U.S. Green Building Council. According to a news release, the brand plans to open its second location in Nashville in 2016 and a third in New York City in 2017.

Images courtesy of Chicago Magazine.

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ClubCorp Acquires Ravinia Green Country Club in Chicago

18 Jan 2015, 9:21 pm

By Ioana Neamt, Associate Editor

Ravinia Green Country Club

Dallas-based ClubCorp, an owner and operator of private golf and country clubs, has acquired the Ravinia Green Country Club in Riverwoods, IL. The previously member-owned private club is located 30 minutes north of Chicago and marks ClubCorp’s first country club in the area. The company currently owns more than 200 clubs across 26 states, Mexico, China and the District of Columbia, including The Mid-America Club in the Aon Center and The Metropolitan Club in Willis Tower in downtown Chicago.

Located in Riverwoods, Lake County, the Ravinia Green Country Club features an 18-hole championship golf course, six outdoor Har-Tru tennis courts, an aquatics complex with three outdoor swimming pools and a children’s playground. Additionally, the family-friendly club features a clubhouse, a second-level outdoor terrace, private dining rooms and a large ballroom.

ClubCorp plans to invest a significant amount of money into a reinvention project to renovate and upgrade the golf course, clubhouse and pool complex.

“We are very excited to be establishing a golf presence in Chicago, where we currently have two highly successful business clubs,” said Eric Affeldt, ClubCorp president and CEO. “Ravinia Green—a world-class golf club in one of the most traveled cities in the country—will serve as the perfect complement to ClubCorp’s portfolio of clubs.”

Image courtesy of the Ravinia Green Facebook page

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Freeman’s Chicago Facility Earns LEED Silver Certification

16 Jan 2015, 3:58 pm

By Ioana Neamt, Associate Editor

Freeman facility in McCook, IL

The Freeman Co., a Dallas-based marketing and events firm, has achieved LEED Silver certification for its industrial facility in suburban Chicago from the U.S. Green Building Council. Freeman claims to be the first general contractor in the events industry to achieve this status for new construction, according to a news release.

Located at 8201 W. 47th St. in McCook, the 365,359-square-foot building was developed as a build-to-suit for Freeman by Bridge Development Partners and PREMIER Design + Build Group LLC. According to REJournals, the facility consists of 39 private offices, a graphics construction area, 14 conference rooms, 47 collaborative work spaces, a training room, a mechanic’s service area and racked storage space.

Freeman’s Chicago facility features state-of-the-art heating and cooling systems, motion-activated lighting throughout the property, natural gas heating, reduced-fixture water use, as well as dust collection and filtering systems. Roughly 41.5 percent of the building materials originated from within a 500-mile radius of the project site.

“One of the pillars of Freeman’s operational excellence is the culture of sustainability that is a part of our everyday operations,” said Jeff Chase, vice president of sustainability at the company. “We are dedicated to constantly improving our recycling efforts to ensure that our daily operations are as environmentally sustainable as possible.”

Image courtesy of REJournals.com

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One Response to Chicago Archive

  1. Joselyn Overley

    Sep. 26, 2011 at 12:58 pm

    I just think it’s too hard for small businesses to try to purchase a property, renting or leasing is their only real option

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