37 hours ago

Soho House developers cash out for $95 million

Sino-Ocean Land teamed with Hong Kong-based Gaw Capital—which already owned an undisclosed stake in the 40-room hotel at 113-125 N. Green St. along with Shapack and AJ Capital—to buy the property amid soaring property values in the West Loop.

The developer is also building the 12-story Hoxton boutique hotel in the area, a seven-story office building at Fulton and Halsted streets and is planning a 750,000-square-foot office building at 167 N. Green St. with partners Focus Development and Walton Street Capital.

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The developer is also building the 12-story Hoxton boutique hotel in the area, a seven-story office building at Fulton and Halsted streets and is planning a 750,000-square-foot office building at 167 N. Green St. with partners Focus Development and Walton Street Capital.

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2 days ago

Starwood raises $7.6 billion for latest fund

In January Starwood, which manages more than $55 billion in assets, bought 1 S. Dearborn St., an 833,000-square-foot office tower in River North, for $297.6 million. Starwood...

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2 days ago

Alderman moves to block planned 615-room hotel in West Loop

Reilly (42nd) yesterday filed a proposal with the City Council to strip the development site at 320 S. Clinton St. of its zoning, a move that would prevent the Toyko-based firm, Toyoko Inn, from building the 24-story hotel.

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2 days ago

Boutique hotel planned for Jewelers Row

The vision for a 39-room inn comes from a joint venture of local investors Peerless Development and Honore Properties, which last week paid $7.2 million for the five-story Loop landmark at 15-19 S. Wabash Ave., according to a broker for the deal.

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4 days ago

Crain's forum to tackle tough question

Crain's Senior Reporter Alby Gallun will moderate the panel. The event begins with a coffee networking reception at 7:30 a.m. on the second floor of the Polsky Center, 1452 E. 53rd St.

    Crain's Chicago Business
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4 days ago

Developer lands $92 million loan for West Loop apartment project

The development at 939 W. Washington Blvd., designed by Chicago-based bKL architects, is two blocks from the Morgan Street stop on the CTA's Green Line. The complex, ZOM's first in Chicago, will consist of two 15-story towers atop a three-story podium and include 13,700 square feet of retail space.

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5 days ago

Big condo building on Near North Side could fetch $40 million

After scooping up about 130 of the 250 condos in the building at 1140 N. LaSalle St., H.A. Langer & Associates now wants to sell the entire property to an investor that...

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5 days ago

Toyoko Inn takes step toward Chicago hotel

...near Union Station, getting a construction permit last week for the surface parking lot at 320 S. Clinton St., the property Toyoko owned since 2006, according to Cook County property records, the Chicago Tribune...

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5 days ago

Morgan Stanley moving second office to Willis Tower

The New York-based firm will move in 2020 from its office at 440 S. LaSalle St. to about 50,000 square feet at the 110-story landmark, bringing its total future footprint to around 170,000 square feet in the skyscraper, according to sources familiar with the deal.

...four floors at Willis Tower, where it will move next summer from its office at 70 W. Madison St. The company plans to exercise an option to terminate its lease at 440 S. LaSalle...

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...floors at Willis, sources said. Morgan Stanley also has nearly 69,000 square feet at 227 W. Monroe St., according to CoStar...

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Apr 12

Streeterville apartments sell in biggest downtown deal since July

...million, or $477,000 a unit, for Optima Chicago Center, a 325-unit tower at 200 E. Illinois St. that opened in 2013, according to Cook County property records. Edge acquired the building from...

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Apr 12

State Street storefront up for sale

Thor has hired Cushman & Wakefield to sell an 18,800-square-foot retail space it owns at 36 S. State St., just south of a store space it sold in 2016 for $44 million. A sale would leave the New York firm with just one property on the Loop shopping strip, the Palmer House Hilton.

...s. In its most recent deal, Thor paid $12.3 million for a property at 800-810 W. Fulton St., giving it control of the entire Fulton-facing stretch of the block...

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But more recently, it has been selling. In November 2016, it sold the retail space at 26-34 S. State St., home to a Michael Jordan shoe store, for $44.2 million. In March 2017, Thor sold a four-story building at 133 S. State St. for $10.2 million.

But more recently, it has been selling. In November 2016, it sold the retail space at 26-34 S. State St., home to a Michael Jordan shoe store, for $44.2 million. In March 2017, Thor sold a four-story building at 133 S. State St. for $10.2 million.

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Apr 11

Chicago investor buys majority stake in Evanston tower

...Investcorp got slightly more than the $87 million they were seeking for the building at 1603 Orrington Ave. when they put it on the market earlier this year, underscoring the strong investor demand...

GEM Realty has one other office property in the Chicago area: 70 W. Madison St., a 57-story tower it bought in 2014 through a joint venture led by Chicago...

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Apr 11

Chicago investor to buy majority stake in Evanston tower

...Investcorp got slightly more than the $87 million they were seeking for the building at 1603 Orrington Ave. when they put it on the market earlier this year, underscoring the strong investor demand...

GEM Realty has one other office property in the Chicago area: 70 W. Madison St., a 57-story tower it bought in 2014 through a joint venture led by Chicago...

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Apr 10

Fulton Market getting its first Walgreens

The drugstore chain will open a roughly 13,000-square-foot location facing Randolph Street in the new McDonald's headquarters building at 110 N. Carpenter St., sources familiar with the deal confirmed.

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