Multifamily N Illinois
Interra Realty brokers $30M deconversion sale of multifamily high-rise

Interra Realty brokers $30M deconversion sale of multifamily high-rise

Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the $30 million sale of 445 W. Wellington Avenue, a 15-story condominium building in Chicago’s Lakeview East neighborhood. The buyer, Beal Properties, a local private real estate investor led by principal Bill Silverstein, plans to deconvert the 65-year-old building, turning the 117 condos back into rental apartments.

Multifamily N Illinois
CBRE brings Lake Shore Drive condo building to market for deconversion

CBRE brings Lake Shore Drive condo building to market for deconversion

The homeowners’ association of 540 N. Lake Shore Drive, a 150-unit condo building, have retained CBRE as the building’s listing agent. CBRE is positioning the property as a deconversion opportunity, offering the brick-and-timber loft condos in a bulk sale through a competitive bidding process. The listing also contains the adjacent, 10,780-square-foot parking garage with 73 spaces at 450 E. Grand Avenue befitting new construction.

Multifamily N Illinois
River North condo building 56 W. Huron tops out

River North condo building 56 W. Huron tops out

Chicago-based Gilbane Building Company recently topped out the 56 W. Huron Condo project in Chicago’s River North neighborhood. A ceremony for this high-profile residential project was attended by representatives from Kiferbaum Development Group, Gilbane and subcontractor partners. The event took place on the project site with a beam signing ceremony to commemorate the special occasion.

Multifamily N Illinois
811 Emerson, a nine-story, 241-unit transit-oriented rental development steps away from Northwestern University in Evanston, Illinois, will deliver in spring 2019.

New nine-story transit-oriented development breaks ground in Evanston

Chicago-based developers CA Ventures and Focus recently celebrated the groundbreaking of 811 Emerson, a nine-story, 241-unit transit-oriented development at 811 Emerson Street in Evanston, Illinois. Offering proximity to Northwestern University and popular shops and restaurants downtown, the rental development is also steps from CTA and Metra stations at Davis Street. Apartments are scheduled to deliver in summer 2019, with pre-leasing set to begin in fall 2018.

Multifamily N Illinois
Chicago's second tallest building could go up as part of proposed Tribune Tower redevelopment

Chicago's second tallest building could go up as part of proposed Tribune Tower redevelopment

Newly disclosed plans for the redevelopment of the Tribune Tower call for what would be Chicago’s second-tallest building, a 1,422-foot-tall, mixed-use tower on the lot adjacent to the historic building. Chicago developer Golub & Company and Los Angeles-based CIM Group revealed the details at a public meeting last night, ending speculation on how they planned to address the property that they bought from Tribune Media for $240 million in September 2016.