Hospitality N Illinois
Arbor Lodging Partners enters Chicagoland market with acquisition of Chicago Marriott Schaumburg

Arbor Lodging Partners enters Chicagoland market with acquisition of Chicago Marriott Schaumburg

Arbor Lodging Partners, a Chicago-based hotel investment and management company, has acquired their first property in the Chicagoland market, Chicago Marriott Schaumburg. Located at 50 N. Martingale Road, Schaumburg, IL, the 398-room hotel marks Arbor Lodging’s fifth Marriott International-branded hotel and was acquired through a joint-venture with Middleton Partners. The full-service hotel will be managed by Arbor Lodging Partners’ affiliate, Arbor Lodging Management, and is the first in a series of new additions coming to Arbor’s growing portfolio in 2018.

Multifamily N Illinois
Terrace 459 at Parkside of Old Town

Federal tax overhaul creates barriers to investment in low income housing

When Congress passed a sweeping rewrite of the federal tax code last December, they left in place the low-income housing tax credit (LIHTC). However, lowering the corporate tax rate from 35 percent to 21 percent might decrease overall investment in affordable housing, according to Ginsberg Jacobs LLC, a Chicago-based law firm that specializes in corporate, finance, litigation, real estate, trusts/estates, tax and tax credits.

Office N Illinois
Meridian Design Build relocates corporate offices

Meridian Design Build relocates corporate offices

Meridian Design Build recently relocated their corporate headquarters from Deerfield, IL to a substantially larger space within Pointe O’Hare, an 11-story office building located at 9550 W. Higgins Road in Rosemont, IL. Meridian, a national design-build general contracting firm, constructed 11,500 square feet of new space on the 4th floor of the Class A building with technology and future growth in mind.

CRE N Illinois
Molly McShane;NAOIP Chicago

Molly McShane named first woman president of NAIOP Chicago

NAIOP Chicago is excited to announce Molly McShane as their first woman president for the 2018 term. NAIOP is a commercial real estate development association and is the leading organization for developers, owners and related professionals in office, industrial and mixed-use real estate. In McShane’s new role she will serve as president of a board of the Chicago chapter, consisting of 20 members and 11 emeritus board members (past presidents).

Industrial N Illinois
The Missner Group purchases flex building

The Missner Group purchases flex building

The Missner Group has acquired 2323 Ravine Way in Glenview, IL. The purchase of the 45,000-square-foot, single-story, pre-cast flex building is part of a sale-lease-back with the current owner, DreamWorks Graphic Communications, a boutique printing company that specializes in high-impact print collateral.

Industrial N Illinois
Matt Kurucz;Crow Holdings Industrial

Matt Kurucz joins Crow Holdings Industrial in Chicago

Crow Holdings Industrial, the industrial development affiliate of Dallas‐based Crow Holdings, today announced that Matt Kurucz has joined the firm as managing director and will lead a new office based in Chicago. Kurucz joins Crow Holdings Industrial from The Opus Group, where he served as director of real estate development, and was responsible for the leasing and development of more than 3.7 million square feet of industrial product in the Chicago market.

CRE N Illinois
Doug Hayes;Cawley Chicago

Doug Hayes joins Cawley Chicago as executive vice president

Cawley Chicago has announced the appointment of Doug Hayes, a veteran with more than three decades of commercial real estate brokerage and development experience, and extensive expertise in the area of transportation and logistics management. The appointment of Hayes as an executive vice president of the firm was made by the firm’s newly appointed sales manager, Michael P. McKiernan.

CRE N Illinois
Nick Kanich;JLL

Nick Kanich joins JLL

Nick Kanich joins JLL as senior vice president. He previously spent just over five years at Cushman & Wakefield, most recently as a director of capital markets and a member of the firm’s national net lease group.

Multifamily N Illinois
Wanda Vista Tower up for sale

Wanda Vista Tower up for sale

The 98-story Wanda Vista Tower, currently under construction in Chicago, is up for sale. According to a report by the Chicago Tribune, Dalian Wanda Group, the Chinese firm that has been developing the project in partnership with Chicago-based Magellan Development, has put the combination residential/hotel tower on the market, along with another development in Beverly Hills, CA.

CRE N Illinois
Danny Jacobson;CBRE

CBRE adds nine to its Chicago retail team

CBRE Group, Inc., announced today the arrival of nine new professionals and three support team members to its expanding Chicago area retail advisory and transactions group. The addition of this team significantly bolsters CBRE’s presence in the thriving retail industry of this global market.