Chicago & Midwest CRE News In Your Inbox.
Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.
Greyhound’s Goose Island Sale Goes Through
Onni Group has gone ahead with a deal that could transform the southern tip of Goose Island, Crain’s Chicago Business reported. The Vancouver, BC-based developer paid $38 million for a Greyhound bus maintenance facility, one of the highest-profile redevelopment sites along the Chicago River’s North Branch.
The original deal for the site from last March stalled this past October. Onni’s large-scale plans to build up to 1,000 apartments in this longtime industrial area ran up against Chicago’s recently-enacted affordable housing requirements, which increased the affordable component to 20% for certain gentrifying neighborhoods.
Greyhound originally sought $50 million for the eight-acre site at 901 and 904 N. Halsted St. when it put the property on the market in January 2017. Onni’s current plans for the site aren’t immediately clear; senior development manager Brian Brodeur didn’t specify those plans when confirming the site acquisition for Crain’s.
For comments, questions or concerns, please contact Paul Bubny
- ◦Development
- ◦Sale/Acquisition
Get Chicago News in 150 Words