Multifamily N Illinois
Last year, Avison Young completed the sale of Kennelly Square, a 268-unit condominium building located in Chicago’s Old Town neighborhood.

Not a passing craze: Deconversions still strong in Chicago

There were two major condo deconversion deals announced in Chicago at the close of 2018: Kiser Group’s deconversion of the 250-unit Flats on LaSalle and the sale of River City, the largest such deal for the market at 449 units. Since then, however, news of these condo-to-rental deals has been slow. Is this a sign that the trend itself is starting to slow down?

Multifamily N Illinois
CRE experts sound off on rent control in Illinois

CRE experts sound off on rent control in Illinois

For more than 20 years, a law on the books in Illinois has prevented any municipality from enacting rent control measures. But with the elections of J.B. Pritzker and Lori Lightfoot, as well as several self-professed socialist Chicago aldermen, the political will may be shifting toward this affordable housing tool.

Multifamily N Illinois
Vista Tower tops out in Chicago at 101 stories

Vista Tower tops out in Chicago at 101 stories

Magellan Development Group, the developers behind Vista Tower, celebrated a significant milestone last week as crews from McHugh Construction placed the final beam, signifying its topping out. Now at a soaring height of 1,191 feet, Vista is that much closer to becoming the city’s third-tallest building and most exclusive address.

Multifamily N Illinois
Luxury Living Chicago Realty expands leasing and marketing staff

Luxury Living Chicago Realty expands leasing and marketing staff

Luxury Living Chicago Realty announced new hires to support its growing leasing business. Jeff Schwedel joined as portfolio leasing manager overseeing a number of the company’s larger properties. Allison Roberts, Ashley Lastres and Teddy Marrufo joined as leasing managers from high-profile multifamily companies. Kerry Blankshain joined as lease process coordinator while Mabel Valera joined as lead intake specialist.

Multifamily N Illinois
Marcus & Millichap arranges sale of 16-unit Oak Forest apartment building

Marcus & Millichap arranges sale of 16-unit Oak Forest apartment building

Marcus & Millichap completed the sale of a 16-unit apartment property located in Oak Forest, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. Andrean Angelov, first vice president investments, and Ryan D. Engle, senior vice president investments, in the firm’s Chicago Oak Brook office, exclusively marketed the property on behalf of the seller and also represented the buyer.