Chicago
KKR Reaches $2.2B Deal for Sale of Infill and Light Industrial Portfolio
KKR said Tuesday it had agreed to sell a 14.5-million-square-foot infill and light industrial portfolio to Oxford Properties Group for approximately $2.2… Read more
Cisco Claims Old Post Office Space for Midwest Hub
Cisco has announced Chicago as the company’s Midwest regional hub, with a relocation to 601W Companies’ Old Post Office. The IT giant will move… Read more
Ravenswood Courtyard Building Comes to Market After 30-Year Hold
Essex Realty Group has been selected to exclusively market 4407-4415 N. Greenview Ave. in the North Side’s Ravenswood neighborhood. The property is… Read more
Chase Commits $3M to Appraisal Institute’s Diversity Initiative
The Appraisal Institute, Fannie Mae and Freddie Mac said that JPMorgan Chase has made a $3-million commitment to the Appraiser Diversity Initiative.… Read more
Chicago CRE Professionals Remain Optimistic, But Worries About Government Persist
In its 2021 Mid-Year Chicago Sentiment Report, The Real Estate Center at DePaul University says that nearly 60% of commercial real estate professionals are at… Read more
Cambridge Realty Closes $12M Refi on SNF in Uptown
Cambridge Realty Capital Companies recently provided an $11,977,000 HUD Lean loan to refinance Alden Lakeland, a 300-bed skilled care nursing facility in the North Side’s Uptown neighborhood. … Read more
North Wells JV Acquires River North Loft Offices from McCaffery
North Wells Capital has formed a joint venture with Skydeck Capital to acquire 720 N. Franklin St., a five story, 47,000-square-foot building in River North, from… Read more
Summit Design + Build Hires Construction Veteran as VP
Summit Design + Build recently hired Larry Blouin as VP. Blouin joins Summit Design + Build with more than 37 years’ construction industry experience. As VP, Blouin will assist in the… Read more
IPA Arranges $44M Sale of Kenosha Shopping Centers
Institutional Property Advisors (IPA), a division of Marcus & Millichap, arranged the sale of Southport Plaza and Indian Trail Plaza, two adjacent… Read more
Downtown Chicago’s Landmark Drake Hotel Hits the Market for First Time
JLL has been retained to market for sale the Drake Hotel in Downtown Chicago, which the firm says offers a once-in-a-generation opportunity to redevelop… Read more
Lightfoot Administration Projects $733M Budget Gap for Fiscal 2022
The Lightfoot administration’s 2022 Budget Forecast projects a $733-million budget gap for fiscal year 2022. The shortfall, while significantly reduced… Read more
Bridgeview Bank Redevelopment Lands $44M Financing
Associated Bank provided a $43.8-million financing package to CEDARst for the historic redevelopment of the Bridgeview Bank building, 4753 North Broadway in the North Side’s… Read more
Chicago Industrial Maintains Resiliency Through Pandemic
Chicago’s industrial market has remained resilient through the pandemic, Avison Young analysts led by Peter Kroner reported Tuesday. Overall leasing activity has been robust,… Read more
State Street Pedestrian Counts Top 1M Per Week During July
July saw pedestrian visitors to State Street in the Loop surpass one million per week for the first time since the onset of the pandemic,… Read more
Cambridge Realty Provides $13M on Rogers Park SNF
Cambridge Realty Capital Companies has provided a $12,960,000 HUD Lean loan to refinance Alden Village North, a 150-bed skilled care nursing facility… Read more
Pangea Cares Teams Up for Shoe Drive in Brighton Park
Expanding a partnership started in 2017, Chicago-based Pangea Properties worked with Operation Warm and SGA Youth & Family Services last month for… Read more
CRG Launches Its First Chicago-Area Industrial Project
CRG, the real estate development and investment arm of Chicago-based Clayco, broke ground recently on The Cubes at Country Club Hills, a… Read more
Judge Denies Bid to Halt Construction of Obama Center
U.S. District Court Judge Robert Blakey denied a request for an injunction to halt construction on the Obama Presidential Center in the South… Read more
Oak Street Health Raises Guidance on New Center Openings
Chicago-based Oak Street Health, a network of primary care centers for adults on Medicaid, said Monday it was increasing its full-year guidance… Read more