Columbia College Chicago selling vacant Johnson Publishing building in Chicago’s South Loop

June 29, 2016 The building was originally constructed in 1972 but has remained vacant since 2012, when the company moved out. Columbia College acquired the property in 2010 with plans to relocate its library there from 624 S. Michigan Avenue and later to convert it into a student center. Read more...

Illinois Real Estate Journal, News Comments (0)

Cushman & Wakefield: Cool matters for retailers

June 29, 2016 How cool are the streets running through your neighborhood? If you live or do business from Minneapolis' North Loop neighborhood, those streets might be very cool -- or hip, if you prefer -- indeed. Cushman & Wakefield recently released its Cool Streets of North America report. The report looks behind the rise of the dozens of new edgy retail districts across the United States and Canada. Many of the neighborhoods featured in the report have long been known as cool. But others, like the North Loop neighborhood, are relative newcomers to the world of cool. Read more...

Midwest Real Estate News, Minnesota Real Estate Journal, News Comments (0)

Average apartment sizes fall to 10-year low

June 28, 2016 Developers continue to add modern multifamily units to cities across the Midwest. And these new units? They're getting smaller. According to RENTCafe, the average size of apartment units completed in 2016 has fallen to 934 square feet. That's the smallest average size for new-construction apartment units since 2006, when the average size stood at 1,015 square feet. Overall, the average size of all U.S. apartment units is 889 square feet, according to RENTCafe. Read more...

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NorthMarq’s Blumberg: Skin in the game matters when it comes to commercial financing

June 20, 2016 Midwest Real Estate News recently spoke to Susan Blumberg, senior vice president and managing director with the Chicago office of NorthMarq Capital, about how busy developers and investors are these days when it comes to requesting commercial financing for new developments and acquisitions. Blumberg's answer? Very Read more...

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More Midwest cities now earning high walkability scores

June 17, 2016 Cities are investing more dollars into making their neighborhoods friendlier to pedestrians. And that's good news: A growing number of people are interested in moving to urban areas in which they can walk to stores, restaurants, public transportation and parks. As cities invest more in creating walkable communities, it's easier for owners and developers to attract consumers to their shops, restaurants and apartment buildings. Read more...

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Lawrence House to open its doors after multimillion-dollar renovation

June 15, 2016 Uptown's historic Lawrence House, which serves upscale housing to the arts and entertainment district at 1020 W. Lawrence Ave., will open its doors June 16 after a $14 million renovation. Read more...

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Northwestern University’s Welsh-Ryan Arena to get $100 million renovation

June 15, 2016 The $110-plus million project will be funded by a leadership gift from Patrick G. and Shirley W. Ryan, along with a $10 million gift from Stephen R. and Susan K. Wilson, donations from other loyal Northwestern benefactors and the existing athletics maintenance and equipment budget. Read more...

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Ann & Robert H. Lurie Children’s Hospital of Chicago, Sirius Computer Solutions, Inc. renew leases at Westbrook Corporate Center

June 15, 2016 Ann & Robert H. Lurie Children's Hospital of Chicago and Sirius Computer Solutions, Inc. have renewed their leases at Westbrook Corporate Center, according to NAI Hiffman who represented the firm. Read more...

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HFF arranges construction loan for new 20-story office tower in Chicago’s West Loop

June 15, 2016 The project, designed by architect Martin Wolf, FAIA, will feature 438,837 square feet of office space and parking lot with 408 spaces and will seek LEED-Certification. Read more...

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Retailers following young millennial crowd into the city means more business

June 14, 2016 Forget the days of driving out of your way to shop at your favorite store because we are slowly starting to see those days coming to an end—many big retail stores are now just down the block if you’re living in the city. Read more...

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Luxury rental developments once again opening in the suburbs

June 14, 2016 When you think of luxury rental developments, what do you picture? Modern apartment towers rising from the busy downtowns of major cities, right? That doesn't have to be the case. The suburbs might not get as much press when it comes to new multifamily projects, but plenty of developers are bringing high-end rental units to suburban communities across the Midwest. Read more...

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It’s official: McDonald’s to relocate headquarters to downtown Chicago

June 13, 2016 The burger chain announced Monday that it will be moving its corporate headquarters by spring 2018 from its current Oak Brook campus to the space Oprah Winfrey's Harpo Studios formally occupied in downtown Chicago. Read more...

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Your CRE professional does what? A look at the hobbies of some of the Midwest’s most successful commercial pros

June 13, 2016 Read more...

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HFF’s Kaufman: Top locations, best sponsors the key to winning commercial financing

June 10, 2016 Midwest Real Estate News recently spoke with Daniel Kaufman, managing director with Chicago’s HFF, about what it takes for investors and developers to qualify for commercial financing today. The key, he said, is to have a solid location, sponsor and business plan in place. Read more...

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NorthPoint Capital Funding, Inc. hires new associate

June 09, 2016 Based in NorthPoint Capital Funding’s downtown Chicago office, Smyth will focus on analyzing transactions and gathering market intelligence on behalf of NorthPoint Capital Funding’s cadre of correspondent insurance companies, FHA, and direct lending sources. Read more...

Chicago Industrial Properties, Illinois Real Estate Journal, News Comments (0)

Industrial demand pushes boundaries of strong I-55 Corridor

June 09, 2016 As the mid-point of 2016 approaches, Chicago’s industrial market continues to benefit from strong user demand, especially in distribution and warehousing sectors. This is particularly true in the I-55 corridor, where developers are pushing the geographic boundaries to find land for new buildings. Read more...

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DLR Group Chicago celebrates 50th anniversary

June 07, 2016 In addition, the Chicago office will shut its doors June 13 for a day of volunteer service with the Green Star Movement, where Chicago employees will help create and design artwork at a local school in Hyde Park. Read more...

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Apartment rents reach another all-time high

June 06, 2016 Apartment living isn't getting any cheaper, with the amount that renters are paying each month in rent rising yet again in May. The most recent Yardi Matrix multifamily report said that the nationwide average apartment rent rose $10 in May to $1,204. That is an all-time high for apartment rents. Read more...

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Will Oak Brook’s loss become Chicago’s gain when it comes to McDonald’s?

June 02, 2016 McDonald's has long been a presence in the Chicago suburbs, running an Oak Brook, Illinois-based headquarters building that is home to more than 2,000 employees. That facility also houses the famous Hamburger University, a training facility for managerial staff. But, following a trend among a growing number of retailers, McDonald's might soon be moving its headquarters from Oak Brook to downtown Chicago, targeting the former home of Oprah Winfrey's Harpo Studios in the city's Fulton Market district. Read more...

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Merit Partners’ David Liebman says these are the five questions you should ask before you design-build

June 02, 2016 Liebman says business owners should know what they need to ask before they select a design/build contractor. In his 27-plus years as an advisor to owners of industrial and distribution facilities, he has found that asking the following questions will help you decide whether you need a design/build contractor and which one might be the best for your company. Read more...

Chicago Industrial Properties, CIP Column, News Comments (0)

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