Multifamily N Illinois
Dover Court Condominiums in Uptown, for which Kiser Group recently brokered a $12.5 million deconversion sale.

Did Chicago just deep-six deconversions?

Chicago’s City Council has passed a resolution to increase the voting threshold on condo deconversions. Now, any building looking to switch from condo to rental will need the assent of 85 percent of the condo owners, instead of the 75 percent threshold that previously held true.

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CRE N Illinois
Fulton East, 215 N. Peoria Street in Chicago.

Building a case for design-build

There’s been a revision of late to the process of designing and constructing commercial properties. And it’s almost a return to form, as the design-build method that has been gaining traction emulates the days of the Master Builder.

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Multifamily N Illinois
Executives from Lendlease and Magellan Development Group, along with 42nd Ward Alderman Brendan Reilly celebrated the groundbreaking of Cirrus Condominiums and Cascade Apartment Tower along the lakefront in Lakeshore East.

Lendlease, Magellan break ground on two Lakeshore East residential towers

Lendlease and co-developer Magellan Development Group celebrated the groundbreaking of Cirrus, a 47-story condominium tower along Chicago’s lakefront in the Lakeshore East community. Scheduled for move-ins by fall 2021, Cirrus will be developed simultaneously with Cascade—an adjacent, 37-story, 503-unit rental tower—and Cascade Park, a publicly accessible green space that will connect to the lakefront and the riverwalk.

Multifamily N Illinois
33 Realty sells Belvidere, IL apartment portfolio

33 Realty sells Belvidere, IL apartment portfolio

33 Realty has completed the sale of a three-property, 64-unit portfolio of apartments in Belvidere, Illinois for $3,300,000. Consisting of 28 units at 504-544 Biester, 24 units at 909-919 McKinley and a 12-unit building at 323 E. Harrison, the portfolio has been well maintained and sold for more than double the previous sale price in late 2012.

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