Archive | Illinois Real Estate Journal

Bob Galante joins The McShane Companies as chief financial officer

August 24, 2016 Galante has more than 30 years of experience within the commercial real estate development and construction industries with a strong planning and analysis background. Read more...

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A new era at JLL: CRE firm names new CEO

August 24, 2016 JLL has made a big change at the top, naming Christian Ulbrich as the company's new chief executive officer. He will take over the position on Oct. 1. Read more...

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Lots of movement in Chicago’s CBD: Office tenants actively seeking area for their new space

August 24, 2016 Office especially saw an impressive second quarter in the Central Business District (CBD), where vacancy decreased from 11.97 percent to 11.65 percent—the lowest it’s been since 2008, according to MB Real Estate’s Q2 Chicago CBD research report. Read more...

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10 & 120 South Riverside Plaza in Chicago’s West Loop close to reaching full occupancy

August 24, 2016 Ivanhoé Cambridge and Callahan Capital Properties (CCP) announced seven lease transactions totaling approximately 150,000 square feet at 10 & 120 South Riverside Plaza, a two-building, 1.4 million-square-foot office complex in the heart of downtown Chicago. Read more...

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Public-private partnerships gain ground as innovative solution for funding real estate development projects

August 24, 2016 Federal, state and local government agencies have significant real estate needs, including the necessity of repairing and replacing aging infrastructure and utilities. But these agencies are finding it increasingly challenging to find the funding to pay for the development of their properties. As a solution, public-private partnerships (P3s) are gaining ground as a viable funding source for real estate development projects. This is an approach that is catching the attention of not only developers, but also government leaders looking for innovative ways to fund their community infrastructure needs. Read more...

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Venture partners pay $7.25M for ground-level retail space next to McDonalds’ new HQ

August 23, 2016 The buyer, a partnership between R2 and Marc Realty Capital, paid $7.25 million for the property. Existing tenants include the classic French restaurant La Sardine, and Subway. Read more...

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Construction on a new Will County Justice Center in Joliet to break ground in spring 2018

August 23, 2016 This new center will replace the aging adjacent structure with a modern justice facility featuring the latest advancements in security screening, courtroom technologies, energy management, and sustainable design strategies which are characteristic of Wight & Company’s Design & DeliverySM platform. Read more...

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Sterling Bay, J.P. Morgan get $78 million in construction financing for Fulton West Phase II

August 23, 2016 Holliday Fenoglio Fowler, L.P. has secured $78 million in construction financing for the development of Fulton West Phase II, a nine-story, 290,699-square-foot, creative office building in Chicago’s West Loop. Read more...

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Cushman & Wakefield launches Automotive Specialty Practice Group

August 23, 2016 The new group includes a global, cross-discipline team of experienced and accomplished real estate and business advisors to auto manufacturers, suppliers, distributors and retailers. Read more...

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Five Midwest regions ranked among the top distribution markets by JLL

August 23, 2016 Five Midwest regions rank among the top distribution markets in the United States, according to a new industrial report from JLL. Read more...

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Looking for financing? The basics still matter

August 22, 2016 Midwest Real Estate News recently spoke with James Cope, executive vice president and managing director with commercial financing company Walker & Dunlop, about the steps investors, owners and developers must take when seeking commercial financing. Cope said that the basics still matter when borrowers are seeking dollars for refinances, acquisitions and construction. Read more...

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Podolsky|Circle CORFAC International forms construction group, appoints Michael Lebar to lead division

August 18, 2016 Podolsky|Circle Construction Services is being established to offer a wide range of client-centric and third-party services including general contracting for tenant build-out and ground-up construction (and build-to-suits), construction management and advisory services. Read more...

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Earles Architects and Associates adds former intern as architectural associate

August 18, 2016 Evans completed an architectural internship with EAA last year and was recently brought back full time. Read more...

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Gilbane Building Company announces new president, district manager in its Chicago office

August 18, 2016 He brings more than 35 years of experience in the design, development and construction of over $5 billion of projects in a variety of markets including high rise, multi-family, residential and commercial. Read more...

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CBRE and Chicago Cubs joint charity bash raises more than $360,000 for local charities

August 18, 2016 After an all-around gloomy day Aug. 15, the only thing that poured that evening was a crowd of more than 1,300 area professionals and families, into Wrigley Field as CBRE and the Chicago Cubs hosted the 9th Annual CBRE Cares Charity Bash at the friendly confines. Read more...

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The Missner Group adds new director of marketing and communications

August 18, 2016 In her new role, Heraty will lead the strategic communications efforts including social media, website maintenance and all internal and external communication. Read more...

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Michael Tenuta joins Avison Young as vice president

August 18, 2016 He will assist with the firm’s expanding project management practice in Chicago and across the U.S. Read more...

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NAIOP’s Annual Golf Outing brings together more than 160 members and guests

August 18, 2016 The day-long event included a lunch buffet, cocktails and hors d’oeuvres and contest prizes, which were awarded in the Longest Putt, Longest Drive and Closest to the Pin categories, as well as a First Place Foursome. Read more...

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Bourbonnais hosts Developers’ Day at Chicago Bears training camp

August 18, 2016 The 2016 Developers’ Day program included a brief presentation by education partners Olivet Nazarene University and Kankakee Community College, utility partners ComEd and Aqua Illinois, and industry partner CSL Behring, a global bioscience leader in the midst of a $250 million expansion of its Kankakee site. Read more...

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Midwest industrial real estate just got even hotter, thanks to a bigger, better Panama Canal

August 18, 2016 The mother of all short-cuts for the supply chain world—the Panama Canal—just got a lot bigger this June, and so did the ships that move through it. As a result, the Midwest industrial real estate market may also be getting a big boost, Panamax-style. However, when and how that boost will occur depends on who you ask. Read more...

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