The Midwest’s leading source for commercial real estate news.
18th Annual Commercial Real Estate Forecast Conference
As it entered its sixth decade, Cermak Plaza in Berwyn began a dramatic face lift, a move that has since paid off with recent leases to Meijer and K&G, bringing the property to 95 percent leased.
The Chicago office of Ryan Companies US, Inc. has completed a comprehensive, design-through-construction build-out for Rasmussen, Inc. at its new 60,000-square-foot headquarters in Regency Towers in Oak Brook, Ill.
Target Corp. has confirmed that it will open at the Sullivan Center at 1 S. State Street in Chicago.
Plans are now underway for the 8th Annual Chicago Industrial Properties Spring Summit to focus the spotlight on issues and trends impacting Chicago’s 1.1 billion square foot marketplace.
The commercial real estate industry cannot look to the entire marketplace to be relocating and expanding its operations. Instead, it must look more carefully at specific growth industries/industry segments.
Podolsky Northstar CORFAC International has completed a tenant representation assignment on Chicago’s Goose Island for Cosentino North America. Steven Podolsky, principal; Adam J. Tarantur, vice president; and Joshua Altman, associate, all of Podolsky Northstar CORFAC International, represented Cosentino.
Class A vacancy experienced a dramatic decrease in the I-80 corridor last year, signaling that the market may have hit bottom.
The U.S. economy is sending mixed signals in the current recovery. Activity levels indicate a healthy market that is approaching self-sustaining growth, yet the historically high unemployment numbers suggest an economy that is still in a significant struggle, says a former Federal Reserve economist.
A long court battle may come to an end soon as a Cook County circuit court judge ruled that the Village of Lincolnwood may demolish the Purple Hotel building at 4500 W Touhy Avenue if the property owner, Village Resorts Inc., does not bring the building up to code by August 1, 2011.
Crain Communications has announced that it will move its Chicago office on March 31, 2012 to three floors of the 150 N. Michigan Avenue building at the corner of Randolph.
McShane Construction Co. has been selected to complete a 32,150-square-foot Rockford Veterans Affairs Community-Based Outpatient Clinic on behalf of developer W.D. Schorsch Real Estate. The new single-story medical facility will be located on a 3.9-acre site at Featherstone Drive and Mulford Avenue in Rockford, Illinois.
TOBI International Corporation has announced that Mas Ishida, principal of the firm has completed the sale of a 223,160-square-foot industrial building located at 795 Kimberly Drive in Carol Stream, Ill. on behalf of the buyer, NTA Precision Axle Corporation.
Venture One Real Estate, LLC, through its acquisition fund, VK Industrial I, LP, has closed on two industrial buildings in the Chicago area. The buildings are located at 420 West Wrightwood in Elmhurst and 3100 Tollview Drive in Rolling Meadows.
The Association of Industrial Real Estate Brokers (AIRE) has announced its officers and board of directors for 2011.
Commercial banks have returned to the investment real estate market. However, much has changed since the market crisis of 2008. Banks have recognized the need for higher amounts of capital. There are new regulations with effects that are both known and unknown. The fundamentals of loan underwriting have changed to address current economic challenges.
Englander Bedding Company, a manufacturer of mattresses, has recently purchased the former SK Hand Tool Corporation facility at 3535 W. 47th Street, Chicago.
IT and telecommunications firm T-Systems has announced that it will move to a new 22,000-square-foot space in the Esplanade IV office tower at 1901 Butterfield Road in Downers Grove.
Health Care Service Corporation has completed a restructuring and long-term extension of its 177,800-square-foot lease at the Highland Oaks II office tower in Downers Grove.