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JLL to Redesign Headquarters at Aon Center

27 Mar 2015, 4:05 am

By Ioana Neamt, Associate Editor

Aon Center, Chicago

In an effort to create a flexible, sustainable and integrated work space in keeping with today’s design trends, JLL is partnering with Gensler to revitalize its five-story headquarters at the iconic Aon Center in Chicago’s East Loop. The real estate service company, based at Aon Center since 1996, signed a 15-year lease extension through 2032 in October 2014.

According to a news release, JLL will work alongside Gensler architecture and design professionals to create an “adaptable, flexible, sustainable and technologically-advanced work environment.” The two companies have previously collaborated on the 1871 technology hub and Matter biotech workspace at the Merchandise Mart. Design and construction efforts are expected to take 24 months.

“Our new space will reflect JLL’s culture and answer to the needs of our people, which will drive greater engagement,” said Greg O’Brien, JLL Americas CEO. “Gensler’s comprehensive and innovative approach to developing corporate spaces, combined with its global experience, makes it the right partner to create JLL’s office of the future.”

The iconic Aon Center was acquired by Piedmont Office Realty Trust in 2013 and is currently managed by JLL. The LEED Silver-certified building is home to tenants such as Microsoft, KPMG, Aon and United HealthCare. Located at 200 E. Randolph St., the 83-story tower is the third-tallest building in Chicago.

JLL has been recognized for its focus on workplace environment and employee satisfaction, and was named one of America’s 100 Most Trustworthy Companies by Forbes magazine.

Image courtesy of urbansplatter.com

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Ceres Acquisitions Grabs 435 N LaSalle in Chicago’s River North

20 Mar 2015, 3:10 pm

By Ioana Neamt, Associate Editor

435 N LaSalle

Ceres Acquisitions, a subsidiary of Michael Palumbo-led MJP Capital recently acquired 435 N. LaSalle in Chicago’s River North neighborhood. The company paid $8.175 million for the building, which comprises almost 50,000 square feet of office space at the corner of LaSalle and Hubbard.

MJP Capital, a private Midwest holding company focusing on real estate and technology, partnered with Chicago-based Elmdale Partners in the transaction.

“River North is one of the hottest office markets in the country right now, and we feel this property offers exceptional value,” said Michael Palumbo, president and chairman of MJP Capital. “We are excited to partner with Elmdale Partners to acquire this property and look forward to future investment opportunities.”

MJP Capital is comprised of two main ventures, namely Ceres Acquisitions and CeresTech. Michael Palumbo is a well-known Chicago trader, entrepreneur and investor; he is also the founder and controlling partner of Third Millennium Trading, LLC.

According to a news release, Ceres plans to invest additional capital into the renovation of the four-story building’s interior, including the lobby and elevators.

Image courtesy of Loopnet.com

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Dow Hotel Co. Completes $8.6M Renovation of The Hilton Orrington/Evanston

20 Mar 2015, 1:13 pm

By Ioana Neamt, Associate Editor

1710 Orrington Ave

The Dow Hotel Co. has completed an $8.6 million renovation of the Hilton Orrington/Evanston in Cook County, Ill. The Seattle-based company owns the hotel together with The Carlyle Group’s Carlyle Realty Partners VI.

Located at 1710 Orrington Ave. in Evanston, just north of Chicago in the North Shore district, the Hilton Orrington/Evanston is a 269-room, AAA Four Diamond-rated full-service hotel built in 1925. The hotel is situated 30 minutes away from O’Hare International Airport and Chicago Midway Airport, and offers easy access to popular destinations such as Northwestern University, the Chicago Botanical Gardens, the Grosse Point Lighthouse, Baha’i Temple and the Westfield Old Orchard Shopping Mall.

“The concept behind the renovation of this historic hotel was to incorporate details of its illustrious past with the current needs and desires of today’s business and leisure travelers,” said Murray Dow II, founder & president of The Dow Hotel Co. “The hotel is well positioned to maintain its place as a cherished member of the community while appealing to new travelers to the area.”

All guest rooms and bathrooms have been completely renovated and feature new carpeting, furniture, showers and TVs. The hotel’s 12,000-square-foot, state-of-the-art business center and its additional 20,000 square feet of meeting space have also been upgraded, with new furniture, carpeting and art. Further features include a new restaurant and lounge concept, eTown Bistro, as well as new private dining areas.

Image courtesy of Hilton Hotels & Resorts

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New LondonHouse Hotel in Chicago Joins Hilton’s Curio Collection

19 Mar 2015, 1:15 pm

By Ioana Neamt, Associate Editor

360 N Michigan Ave

Hilton Worldwide recently announced that Chicago’s new LondonHouse hotel will join Curio – A Collection by Hilton, a global brand of distinctive four and five-star luxury hotels launched in June 2014.

Located at 360 N. Michigan Ave. in the historic London Guarantee Building, LondonHouse is scheduled to open in the summer of 2016 and feature 452 luxury hotel rooms. Designer Simeone Deary Group will strive to preserve the building’s 1920s feel, according to a news release.

“LondonHouse will embody all the hallmarks of what connects Curio – A Collection by Hilton, to the energy and pulse of local communities,” said Dianna Vaughan, global head at Curio – A Collection by Hilton. “With its rich history and combination of iconic 1920s architecture and its 21st Century Modernist glass tower addition in the heart of Chicago, LondonHouse will give curious travelers that authentic experience that has become synonymous with the Curio brand,” Vaughan added.

Oxford Capital Group, LLC purchased the London Guarantee Building from previous owner Crain Communications, Inc. in 2013. The Chicago-based company has undergone a massive renovation and redevelopment project at the property, which includes the addition of a 22-story glass tower designed by Goettsch Partners. The new tower will include the LondonHouse hotel main entrance and a gateway lobby, as well as approximately 25,000 square feet of meeting and function space.

The London Guarantee Building is located in the Michigan-Wacker Historic District and is one of four buildings that anchor the Michigan Ave. Bridge, alongside the Wrigley Building, the Tribune Tower, and 333 N. Michigan Ave. The 23-story building completed in 1923 used to house the famous London House jazz nightclub and steakhouse on its first floor during the 1950s-1970s.

Image courtesy of Hilton Worldwide

Viceroy Hotel Planned for Chicago’s Gold Coast

12 Mar 2015, 4:04 am

By Ioana Neamt, Associate Editor

1118 N. State St.

Los Angeles-based Viceroy Hotel Group has confirmed plans for a boutique hotel in Chicago’s upscale Gold Coast neighborhood. The luxury hospitality company will open an 18-story hotel at the site of the old Cedar Hotel at 1118 N. State St. in 2017, according to Curbed Chicago.

Viceroy is collaborating with Chicago-based Convexity Properties on the Goettsch Partners and TAL Studio-designed hotel, which will add even more class to the highly popular Chicago neighborhood. According to a news release, Convexity is working closely with the city of Chicago and community groups in order to finalize approvals for the development.

“Viceroy recognizes Chicago is a vibrant market and a great destination for our expansion,” said Bill Walshe, CEO of Viceroy Hotel Group. “We are extremely privileged to collaborate with the Convexity Properties team to create exceptional and inspiring experiences for our guests in such a highly sought-after location.”

Chicago is currently experiencing a boom in hotel development, and the new Viceroy Hotel will join a list of renowned hospitality brands to debut properties in the city, including Virgin Hotels, LondonHouse and Hyatt Centric.

Current Viceroy Hotel Group properties include hotels in Abu Dhabi, Miami, New York, San Francisco and Palm Springs, among other cities.

Image courtesy of Curbed Chicago

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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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