Multifamily N Illinois Apartment Investment Advisers brokers South Side multifamily portfolio sale Apartment Investment Advisers (AIA) recently closed the sale of a three-building, 55-unit apartment portfolio on the South Side of Chicago. The assets, all located in the city’s in the Auburn Gresham neighborhood, sold for $1,980,000.
CRE N Illinois Emanuel concedes to Mayor-elect Lightfoot, calls off vote on Lincoln Yards, the 78 TIFs Chicago Mayor Rahm Emanuel has reversed course, agreeing to delay today’s City Council vote on whether to greenlight a $1.6 billion tax increment financing (TIF) package. The subsidies would benefit Sterling Bay and Related Midwest, the developers behind two proposed megaprojects, Lincoln Yards and the 78, respectively.
CRE N Illinois Third generation of family leadership joins Cicero's Development Corp. Cicero's Development Corp. announced the appointment of Lauren Cicero as client development manager, becoming the third generation to be employed at the family-owned general contractor and construction business. In addition to her sales duties, she will also serve as an on-site representative at the company's major renovation projects around the country.
Industrial N Illinois Old World Industries signs I-55 lease with Duke Realty for 354,400 SF The Chicago office of Duke Realty Corporation recently signed a lease with Old World Industries, an automotive and chemical company, to occupy all of Crossroads Parkway 605. Located at 605 West Crossroads Parkway in Bolingbrook, Illinois, the 354,400-square-foot building is one of 14 Duke Realty-owned buildings totaling 4.3 million square feet in the I-55 submarket.
Finance N Illinois National Equity Fund names Matthew Reilein as president and CEO National Equity Fund, a syndicator of the low-income housing tax credits (LIHTC) program, announced the appointment of Matthew Reilein as president and CEO, effective June 1, 2019. Reilein will oversee all day-to-day operations of the Chicago-based nonprofit, including the effective implementation of all policies and programs. Reilein will succeed Joseph S. Hagan who is retiring after 19 years with the organization.
Multifamily N Illinois The Residences at Addison & Clark earns LEED Silver Certification RMK Management announced that The Residences at Addison & Clark, a 148-unit luxury apartment complex located across the street from historic Wrigley Field, has earned LEED Silver certification from the U.S. Green Building Council (USGBC), contributing to Chicago’s No. 1 ranking in the nation for the most green-certified apartments. The apartment building, located at 1025 W. Addison St. in Chicago’s Lakeview neighborhood, welcomed its first residents last fall.
CRE N Illinois CAGE Civil Engineering promotes Schumacher to partner and shareholder CAGE Engineering announced the promotion of Matt Schumacher, P.E. to partner and shareholder. Schumacher has been a member of the CAGE team since 2016 and holds the director of operations position for the Midwest office, located in Downers Grove, Illinois.
Multifamily N Illinois Essex Realty Group brokers sale of 62 units in Kenwood Opportunity Zone Essex Realty Group, Inc. announced the sale of 4625 S. Drexel Boulevard. The 62-unit apartment building is located in Chicago’s Kenwood neighborhood and sold for approximately $4,325,000.
Multifamily N Illinois Spring maintenance: Ensure your property is a swimming—not sinking—success The snow is gone! Well…maybe. It’s the Midwest, so anything can happen in April. But regardless of the weather outside, spring is upon us, so now is the perfect time to ensure a property is running at peak performance as we head into the busy leasing season.
Industrial N Illinois The Missner Group announces one new lease, two renewals in O'Hare submarket The Missner Group announced one new lease and two lease renewals, totaling close to 23,000 square feet for the first quarter of 2019. One renewal is for the firm’s Touhy Industrial Plaza, located at 500 E. Touhy Avenue in Des Plaines, Illinois. The new lease and second renewal is for their newly acquired property at 901-929 AEC Drive in Wood Dale, Illinois.
Industrial N Illinois Transwestern Investment Group sells 100,000+ SF industrial portfolio Transwestern Investment Group (TIG) sold a 108,554-square-foot industrial portfolio on behalf of the Diversified International Partners Fund. Boston-based High Street Realty Co. acquired the two logistics facilities in Lake County, Illinois, for an undisclosed price. Michael Caprile, Ryan Bain and Zachary Graham of CBRE provided disposition services.
CRE N Illinois New venture, Decennial Group, looking to raise $1 billion for opportunity zones Scott Goodman, founding principal of Farpoint Development, Bob Clark, founder and CEO of Clayco, and Shawn Clark, president of CRG, have launched Decennial Group. The Chicago-based real estate and energy investment and development joint venture is targeting $1 billion in Opportunity Zone investments.
CRE N Illinois Jane Robins returns to Arthur J. Rogers & Co. as vice president Arthur J. Rogers & Co., a full-service commercial real estate firm based in Elk Grove Village, Illinois, announced that Jane Robins is returning to the firm as vice president. Robins was previously with the firm from 2001 through 2012.
Office N Illinois WeWork expands again in Chicago with Loop, Fulton Market locations WeWork is expanding its Chicago presence with a new 53,000-square-foot location at 1 South Dearborn and an approximately 140,000-square-foot space at 167 North Green Street. These will be the co-working outfit’s tenth and eleventh locations in Chicago, adding to the 930,000 square feet it currently occupies in River North, the Loop and Fulton Market.
CRE N Illinois CRE Future Leaders: Brendan Sheahan With experience representing tenants, buyer and ownership representation in build-to-suits, investment analysis, acquisition and disposition services, Brendan Sheahan serves as vice president at Darwin Realty. He has completed over 1.3 million square feet of transactions totaling more than $30 million in value.
CRE N Illinois Jeff Lewis promoted to VP and office director at Shive-Hattery Shive-Hattery announced that Jeff Lewis will transition from his role as Chicago team leader to serve as vice president and office director of the Chicago and Valparaiso design offices. He succeeds Spero Valavanis, who will remain with the architecture and engineering design firm to focus on master facility planning and design for his long-term relationship clients.
Office N Illinois Launchways relocates headquarters to downtown Chicago Launchways, a human resources, employee benefits and business insurance solutions provider founded in 2009, will open its new headquarters at 303 W. Madison Street in Chicago on April 8. The move comes amid a period of rapid growth for the company, which expects to double its size in 2019.
Retail N Illinois First look at redeveloped Hawthorn Mall in Vernon Hills Centennial, a Dallas-based real estate investment firm with a national portfolio of shopping, dining, entertainment and mixed-use destinations, has revealed plans for a transformative redevelopment of Hawthorn Mall. The super-regional shopping center in Vernon Hills, Illinois will evolve from a traditional mall into a retail, dining, entertainment and residential mixed-use property.
Office N Illinois Adventus Realty Services signs Molina Healthcare of Illinois in renewal lease Cushman & Wakefield has represented Adventus Realty Services, Inc., in lease renewal negotiations with Molina Healthcare of Illinois at 1520 Kensington Road at The Crossings of Oak Brook in Oak Brook, Illinois. The company occupies 37,127 square feet.
CRE N Illinois KTGY names Demetrios Stavrianos executive director, architecture KTGY Architecture + Planning announced that Demetrios Stavrianos has joined the firm’s Chicago office as executive director, architecture. Stavrianos brings more than 32 years of professional experience in multifamily, mixed-use, retail and office design, as well as urban planning, to KTGY.