CRE N Illinois CRE Future Leaders: Abe Eilian As part of our series, CRE Future Leaders, we caught up with Abe Eilian, director at Essex Realty Group. He concentrates primarily on asset valuation, market research and transaction analysis, assisting clients in the acquisition and disposition of investment real estate throughout the greater Chicago metropolitan area. To date, Eilian has …
CRE N Illinois REIA and DePaul University host annual State of the Industry Summit REIA and DePaul University recently held their 14th Annual State of the Industry Summit. The theme for this year’s event was based on the Mid-Year Perspective on Chicago Real Estate Markets, a report published in July by The Real Estate Center at DePaul University.
Retail N Illinois Beyond shopping: Building experiences and entertainment into malls can keep customers coming While empty anchor stores and porches full of Amazon boxes seem to be the norm across the country today, brick-and-mortar retail is still going strong. Although shopping centers are losing big anchor stores like Carson Pirie Scott and Sears, as well as junior anchors like Toys “R” Us and Sports Authority, proper planning for these empty spa…
CRE Midwest CREW selects leaders for 2019 Six commercial real estate leaders were elected to the 2019 CREW (Commercial Real Estate Women) Network Board of Directors, which will be led by Holly Neber, CEO of AEI Consultants. The announcement was made at the 2018 CREW Network Convention and Marketplace in San Diego, Calif.
Hospitality N Illinois Red Roof expands The Red Collection with Springfield hotel State House Inn, the second property and first franchised property in The Red Collection, Red Roof’s first soft-brand, has opened in Illinois’ capital city, Springfield. Located in the heart of downtown, the property features 125 guest rooms and has undergone a full renovation. The property is owned by Vendian Capital Management and managed…
CRE N Illinois Can the Kinzie Industrial Corridor repeat Fulton Market's success? In May, Chicago’s Department of Planning and Development (DPD) initiated a process to review and enhance the Kinzie Planned Manufacturing District as part of Mayor Emanuel's initiative to maintain the area as an economic engine. On Tuesday, DPD officials unveiled their latest version of the plan, but some in the industry say it doesn’t go f…
Multifamily N Illinois Confronting the challenge of affordable housing Financing for and development of affordable housing has long been a critical issue in the U.S. In Chicago, over 440,000 households pay more than half of their income on housing, according to the Center on Budget and Policy Priorities.
CRE p Tennessee Foundry Commercial acquires Nashville office of OakPoint Foundry Commercial, a full-service real estate services and investment company with operations across the Southeast and Texas, has reached an agreement to acquire the leasing and brokerage business of OakPoint Real Estate’s Nashville office.
CRE v Wisconsin Developers keep flocking to downtown Milwaukee Looking for a Midwest city that's firmly in boom mode when it comes to commercial construction? Look to Milwaukee. Developers today have flocked to downtown Milwaukee, thanks in part to the Fiserv Forum, a 730,000-square-foot, 17,500-seat, multi-purpose arena now under construction in the city's downtown.
Multifamily N Illinois Common pitfalls that condo associations can avoid during a deconversion An increase in condominium deconversions in the Chicago market has raised important questions for many condominium owners and the association board members. Do the benefits of selling to an investor, who then converts the units to rentals, outweigh any obstacles? Are the owners getting a fair deal—and the best market value for their units?
Hospitality N Illinois Why Facebook and Airbnb might lead to more hotel rooms in Chicago Hotel occupancy in Illinois remained flat during the past four quarters, according to a Marcus & Millichap research report. But the sector might get a boost in Chicago from, of all places, tech firms.
Retail N Illinois Empty storefronts pose unique retail opportunities Over 2,500 storefronts closed during the first half of this year, with another 500+ retail locations expected to follow suit before the year is out. But all is not lost. According to a new retail outlook research report by JLL, these store closures present an opportunity for new retail and new uses, whether those vacancies are in strip mall…
Hospitality N Illinois The St. Clair Hotel officially opens in downtown Chicago The St. Clair Hotel is set to open in downtown Chicago at 162 E. Ontario Street, just one block from Michigan Avenue. The first property in The Red Collection, Red Roof’s first soft-brand, the hotel is designed to give guests an authentic upper-midscale experience at a value price. A restaurant is scheduled to open on the premises in the fu…
Retail c Nebraska Lerner Company's Meier: Physical retail doesn't need life support The death of brick-and-mortar retail? Ben Meier thinks its wildly overstated.
Multifamily N Illinois Mesirow Financial closes multifamily value-added real estate fund Mesirow Financial announced the final closing of Mesirow Financial Real Estate Value Fund III, L.P. with equity commitments of $567 million from institutional investors across the U.S., Europe and Australia.
CRE N Illinois CRE Future Leaders: Anthony Mulé As part of our series, CRE Future Leaders, we caught up with Anthony Mulé, director of real estate analysis at Valbridge Property Advisors. Mulé has more than 10 years of experience in the commercial real estate industry, primarily focusing on commercial valuation and consulting. He joined Valbridge in the Fall of 2017.
CRE Midwest Reaping the rewards of rooftop leases while dodging the pitfalls The rooftops of hotels and multifamily towers in cities across the Midwest today are increasingly home to restaurants, bars, gardens and cell towers, becoming money makers for the owners of these properties.
CRE Midwest Real Capital Markets: Not even interest rate fears slow multifamily The specter of additional interest rates isn’t enough to keep investors from sinking their real estate dollars into multifamily properties across the Midwest, according to the latest research from Real Capital Markets.
CRE V Michigan Detroit on the rise: The return of the Renaissance City On June 18, hundreds gathered around the Michigan Central Depot, Detroit’s 500,000-square-foot decrepit former central train station. The building has served as a symbol of the city’s various ailments wrapped up in one gigantic piece of real estate: globalization, lack of opportunities, civic mismanagement. Yet, this time the crowd was not …
CRE Midwest The best secondary market in the Midwest for investors? It might be Nashville It’s increasingly difficult for commercial real estate investors to earn strong returns in big cities such as New York, Los Angeles and San Francisco. That’s because commercial real estate values in these markets have hit all-time highs while cap rates are as tight as they’ve ever been. Because of that, investors are increasingly turning to…