CRE N Illinois On the Corner: North & Clark As a very young child, I remember going to the Plaza Hotel on the corner of Clark and North because my dad’s office was there. In fact, when my parents were first married in 1948, they lived in the hotel because my grandfather—my mom’s dad—owned the building. Eventually, my dad operated it for the family.
Multifamily Midwest Capital One survey: Multifamily slowdown not coming next year Don’t expect much if any slowdown in multifamily sales next year. According to a recent survey, multifamily professionals are ready to add to their apartment portfolios in 2020.
CRE Midwest Bellwether CRE pros: Expect plenty of deals, construction in 2020 Commercial real estate activity remains strong throughout Northeast Ohio and in the Cleveland market. How strong? Midwest Real Estate News spoke with Jeff Musser and Taylor Hawkins, senior vice presidents in the Cleveland office of Bellwether Enterprise, about the strength of the commercial real estate market in this part of the state. These two industry veterans? They said that not only will 2019 go down as a record-setting year, next year should be a busy one, too.
CRE N Illinois CRE Future Leaders: Josh Graham Josh Graham, CPA, is a senior manager in the Chicago office of Wipfli. He works in the firm’s construction and real estate and private equity practices, with a specific focus on Qualified Opportunity Zones.
Join us January 9, 2020 18th Annual Commercial Real Estate Forecast Conference Hyatt Regency Chicago151 E Upper Wacker DriveChicago, IL More Information & Registration
CRE N Illinois Six community-based teams advance in $10 million Chicago Prize grant competition South and West Side teams have been selected as finalists for the Chicago Prize, a $10 million grant of the Pritzker Traubert Foundation that will invest in a collaborative initiative that uses physical development to spur economic activity, strengthen civic infrastructure and improve the safety, well-being and economic mobility of residents in their neighborhoods.
Retail X Missouri Quantum closes $5.3 million Hobby Lobby sale in Missouri Quantum Real Estate Advisors completed the sale of a freestanding 55,000-square-foot Hobby Lobby at 520 E. Markey Parkway in Belton, Missouri. The property sold for more than $5.3 million.
Retail V Michigan Lands End, Scrubs Beyond join tenant mix at Michigan retail center Land’s End and Scrubs & Beyond recently opened at the West Oaks shopping center at the northwest quadrant of I-96 and Novi Road in Novi, Michigan.
Multifamily N Illinois Essex Realty Group brokers the sale of 13 units in Oak Park Chicago-based Essex Realty Group, Inc. facilitate the sale of 41–43 Garfield Street, Oak Park, Illinois. The property sold at the full asking price of $1,100,000.
Multifamily W Minnesota JLL closes $11 million apartment sale in Minnesota JLL has closed the $11.25 million sale and $14.4 million financing of Eastridge Estates, a 126-unit apartment community in Rochester, Minnesota.
CRE N Illinois Site work commences at former McDonald’s Plaza site in Oak Brook W.E. O’Neil has broken ground on the site work at the former McDonald’s Plaza in Oak Brook, Illinois. This initial phase includes improvements to the 17.5-acre site in preparation for a large, mixed-use development with apartments, a hotel, restaurants, office and retail space. Developer Hines acquired the property in July 2018.
Industrial X Missouri Panattoni developing 640,000 square feet of industrial near St. Louis Panattoni Development has announced two new industrial buildings for Hazelwood’s Aviator Business Park on the site of a former Ford plant in Hazelwood, Missouri, part of the St. Louis market.
Multifamily N Illinois Marcus & Millichap arranges sale of 18-unit apartment building in Blue Island Marcus & Millichap facilitated the sale of Wood Street Apartments, an 18-unit apartment property located at 13046 Wood Street in Blue Island, Illinois, according to Steven D. Weinstock, regional manager and first vice president of the firm’s Chicago Oak Brook office. The asset sold for $1,085,000.
Office N Illinois Clear Height Properties leases three spaces in Western Suburbs Clear Height Properties has completed three leases at two properties that it owns and manages in Chicago’s western suburbs. The nearly 23,000 square feet of leases include two renewal/expansions in Elmhurst, Illinois and a relocation to a facility in Elk Grove Village, Illinois.
CRE N Illinois Magellan Development enters venture partnership with Winter Properties, BLG Capital Advisors Chicago-based Magellan Development Group, a vertically integrated developer, owner and operator specializing in mixed-use, urban high-rise development, has closed on a capital investment and venture partnership with Winter Properties and BLG Capital Advisors. Winter and BLG will be active strategic partners with a combined 50 percent equity interest, playing key roles in accelerating Magellan’s growth trajectory as a leading national development, management and real estate investment platform.