26 hours ago

$800 million, 76-story River North tower gets city panel OK

...planned by JDL Development. Designed by Goettsch Partners and Hartshorne Plunkard Architecture, the development at 740 N. State St. will include 869 apartments and condominiums, along with office and retail space...

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29 hours ago

Boston investor sells stake in CPS HQ

Beacon Capital Partners sold a 50 percent stake in the Chicago Public Schools headquarters at 1 N. Dearborn St. to a joint venture of New York-based MetLife and the New York State Common Retirement Fund, a source familiar with the deal confirmed.

...from Beacon's building, the owner of an 830,000-square-foot office tower at 1 S. Dearborn Street is in advanced talks to sell the property to private-equity giant Starwood Capital Group...

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...suit with other Beacon properties downtown. It did a similar deal in River North at 515 N. State St. in 2015, buying the 29-story office tower for $138 million before selling a 40...

Beacon is also a part-owner of the AMA Plaza building at 330 N. Wabash Ave. and 231 S. LaSalle St., according to a spokesman.

Beacon is also a part-owner of the AMA Plaza building at 330 N. Wabash Ave. and 231 S. LaSalle St., according to a spokesman.

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34 hours ago

Last printer on Printers Row is moving out

Palmer Printing is looking for a new home after selling its plant at 739 S. Clark St. to a developer. Palmer, founded in 1937, has endured over the decades as printing houses in the neighborhood have shut down or moved out and residential developers have moved in.

...and Roosevelt Road. In late October, CMK acquired a 32,400-square-foot parcel at 1415 S. Wabash Ave.

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2 days ago

Post Office developer adds parcel across the street

601W bought the property, at 527 S. Clinton St., from a venture controlled by Chicago real estate investor George Bonomo, records show. The Bonomo venture had owned the lot, which is adjacent to and has been used for a Holiday Inn & Suites, since October 2006.

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2 days ago

This old warehouse: City courts developers for big McKinley Park buildings

...real estate market working in its favor, but the McKinley Park buildings, at 1769 and 1869 W. Pershing, present a major challenge for a developer because they are big and "functionally obsolete," said...

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3 days ago

Updated 3 days ago

Big Lincoln Park condo tower to become rentals

Strategic Properties of North America has agreed to buy all 268 units in Kennelly Square, a 22-story tower at 1749 N. Wells St. Owners of 75.8 percent of the condos in the building voted to approve the sale, with 23.2 percent voting against it, according to an email sent out to unit owners.

A Strategic Properties executive declined to comment. In 2016, the firm bought two North Side condo buildings, paying $35 million for a 133-unit building at 2625 N. Clark St. and $51.5 million for Bel Harbor, a 207-unit tower at 420 W. Belmont Ave.

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A Strategic Properties executive declined to comment. In 2016, the firm bought two North Side condo buildings, paying $35 million for a 133-unit building at 2625 N. Clark St. and $51.5 million for Bel Harbor, a 207-unit tower at 420 W. Belmont Ave.

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Jan 12

Presence Health TIF passes City Council panel

Presence, which set up its corporate office at 200 S. Wacker Drive in 2013, is slated to receive the money from a TIF district that includes much of the Loop to reimburse part of the $13.3 million it spent to build out its downtown office.

...area include MillerCoors, which received a $6 million TIF subsidy in 2009 when it selected 250 S. Wacker Drive as its home base; Hillshire Brands, which was awarded $6.5 million when it relocated...

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Jan 11

Chicago real estate investor raises $500 million fund

Singerman Real Estate, which employs 14 people, doesn't own any properties in Chicago, but it is looking here, he said. Former investments in the area include office buildings at 100 N. LaSalle St. in the Loop and next to the Westfield Old Orchard mall in Skokie.

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Jan 11

Loop office tower sells for $107 million

A venture of private-equity firm Ascentris bought the Helmut Jahn-designed building at 120 N. LaSalle St. last month from a venture of Newark, N.J.-based Prudential Financial, according to Cook County property records.

...office vacancy is expected to rise this year with the openings of major buildings including 625 W. Adams St., 151 N. Franklin St. and the renovated Old Main Post Office. That increased competition for...

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...to rise this year with the openings of major buildings including 625 W. Adams St., 151 N. Franklin St. and the renovated Old Main Post Office. That increased competition for tenants could water down...

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Jan 11

Crate & Barrel moving Chicago office

In an expansion of its office space in the city, retailer Crate & Barrel leased 117,000 square feet at 4000 W. Diversey Ave., according to a statement from Chicago-based Merit Partners, which owns the 1.5 million-square-foot building.

...video production unit this summer from its current office near the Fulton Market District at 240 N. Ashland Ave., according to the statement. That unit has shared 64,000 square feet with the company...

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One of the highest-profile office developments in the neighborhood over the past decade was another redeveloped industrial building: the Green Exchange along the Kennedy Expressway at 2545 W. Diversey Ave., best known as the headquarters of Coyote Logistics.

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Jan 11

Crate & Barrel moving Chicago office to Logan Square

In an expansion of its office space in the city, retailer Crate & Barrel leased 117,000 square feet at 4000 W. Diversey Ave., according to a statement from Chicago-based Merit Partners, which owns the 1.5 million-square-foot building.

...video production unit this summer from its current office near the Fulton Market District at 240 N. Ashland Ave., according to the statement. That unit has shared 64,000 square feet with the company...

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One of the highest-profile office developments in the neighborhood over the past decade was another redeveloped industrial building: the Green Exchange along the Kennedy Expressway at 2545 W. Diversey Ave., best known as the headquarters of Coyote Logistics.

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Jan 10

Sale ends Fifield's ambitious West Loop plan

...the Chicago-based developer and Los Angeles-based CBRE Global Investors sold the site at 601-625 W. Monroe St. for $28 million in November, property records show...

CBRE has backed Fifield on other office buildings in the area. The pair teamed up on the development of 555 W. Monroe St. in 2002 and 550 W. Adams St.

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CBRE has backed Fifield on other office buildings in the area. The pair teamed up on the development of 555 W. Monroe St. in 2002 and 550 W. Adams St.

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Jan 10

More high-rises on the highway planned in West Loop

...two towers with 343 apartments on the north side of the Eisenhower Expressway. One, at 1050 W. Van Buren St., would rise 21 stories, while the other, at 1125 W. Van Buren, would top out...

...One, at 1050 W. Van Buren St., would rise 21 stories, while the other, at 1125 W. Van Buren, would top out at 15, according to documents Tandem provided to Neighbors of West Loop...

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Last year, Related Midwest completed Landmark West Loop, a 300-unit apartment tower at 1035 W. Van Buren, and Pizzuti plans a 357-unit high-rise next door, at 1061 W. Van Buren. A couple blocks away, LG Development has proposed a 166-unit project at 1220 W. Jackson Blvd.

Last year, Related Midwest completed Landmark West Loop, a 300-unit apartment tower at 1035 W. Van Buren, and Pizzuti plans a 357-unit high-rise next door, at 1061 W. Van Buren. A couple blocks away, LG Development has proposed a 166-unit project at 1220 W. Jackson Blvd.

Last year, Related Midwest completed Landmark West Loop, a 300-unit apartment tower at 1035 W. Van Buren, and Pizzuti plans a 357-unit high-rise next door, at 1061 W. Van Buren. A couple blocks away, LG Development has proposed a 166-unit project at 1220 W. Jackson Blvd.

A Tandem executive did not return calls. In October, the firm filed plans with the city for a 23-story, 226-unit building on the 700 block of Milwaukee Avenue in River West.

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Jan 09

Developer plans 250-plus apartments near Millennium Park

Roszak said he and his partner Dan Moceri aim to build a tower with more than 250 apartments on the property at 50 E. Randolph St., currently a parking garage. A venture formed by the developers paid $19 million for the garage in November, according to Cook County property records.

...Linea, a 265-unit apartment building that his Chicago-based firm, Moceri & Roszak, developed at 215 W. Lake St. The tower, which opened in June, is almost 80 percent leased, and leasing has picked...

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...headquarters next to the Willis Tower. Zidan plans to convert the vintage office building at 226 W. Jackson Blvd. into apartments...

On the other side of the Loop, Cedar Street, a Chicago developer, is getting ready to convert an office building at 30 E. Adams St. into 176 apartments. The firm recently secured a construction loan for the $60 million project.

...T-Mobile, Qdoba and Gold Coast Dogs. Just to the north of the property, at 171 N. Wabash Ave., another Chicago apartment developer, Ogden Properties, plans a 60-unit apartment building...

In addition to the Randolph Street project, Moceri & Roszak are preparing to break ground soon on a 20-story, 205,000-square-foot office building at 145 S. Wells St. As for Linea, the developers plan to sell or refinance that building when it is leased up.

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