Chicago
Advocate Health Care Plans Two Hospital Projects Totaling $455 Million
By Gabriel Circiog, Associate Editor Advocate Health Care plans to take advantage of record-low interest rates and is moving forward with two hospital projects totaling $455 million in the Chicago area, Crain’s Chicago Business reports. According to documents filed with the Illinois Health Facilities and Services Review Board—the entity that regulates medical construction to avoid […]
Prudential Acquires Retail and Restaurant Space in John Hancock’s Center for Almost $142 Million
By Gabriel Circiog, Associate Editor John Hancock Center’s retail and restaurant space has been acquired by Prudential Real Estate Investors for close to $142 million, ChicagoRealEstateDaily.com reports. As previously reported by Commercial Property Executive, a joint venture including Deutsche Bank A.G. and NorthStar Realty Finance Corp. seized the property earlier this year after a joint […]
Foreign Investors Sought for New Proposed Multi-Hotel Complex and Convention Center
By Gabriel Circiog, Associate Editor The Intercontinental Regional Center Trust of Chicago (IRCTC) and Chicago developer Anshoo Sethi are hoping to attract foreign investors via the EB-5 program for their proposed multi-hotel complex and convention center near O’Hare International Airport. The proposed development is projected to have a total economic impact of $2.6 billion over […]
Capital One Financial Corp. Closes on 150,000-Sq.-Ft. Lease
By Gabriel Circiog, Associate Editor In the second-largest office lease of 2012 for Chicago’s suburbs, Capital One Financial Corp. has closed on a lease of 150,000 square feet in the Atrium Corporate Center, Chicagorealestatedaily.com reports. This deal brings the office building’s occupancy rate close to 100 percent. Located at 3800 Golf Rd. in Rolling Meadows […]
Windfall Group Plans New Commercial Building in Chicago’s Chinatown; New Restaurant Announced for Hard Rock Hotel Chicago
By Gabriel Circiog, Associate Editor Windfall Group USA is under contract to acquire one of the most coveted pieces of property in Chicago’s Chinatown and plans to build a 100,000-square-foot commercial building, Crain’s Cleveland Business reports. The Cleveland-based developer plans to construct the six-story commercial building on the southwest corner of Archer Street and Wentworth […]
Chicago Lakeside Development Recognized as a Top Sustainable Solution at Rio+20
By Gabriel Circiog, Associate Editor The United Nations launched its newest worldwide initiative “Sustainia100” at the Rio+20 conference in Rio de Janeiro. The initiative, which focuses on sustainability solutions and sustainable cities, was celebrated by nominating 100 world leading projects and undertakings. In the presence of international sustainability icon Gro Harlem Brundtland, media personality and […]
Sunstone Hotel Investors to Purchase Hilton Garden Inn Chicago Downtown
By Gabriel Circiog, Associate Editor Sunstone Hotel Investors Inc. has entered into a purchase and sale agreement to acquire the Hilton Garden Inn Chicago Downtown/Magnificent Mile for a gross purchase price of $91.75 million. The 357-room hotel, located at 10 E. Grand Ave. in downtown Chicago, is expected to generate around $4.1 million of EBITDA […]
Waterton Residential Acquires Boutique Seneca Hotel; Two Affordable Housing Projects Receive $11M Support
By Gabriel Circiog, Associate Editor Chicago’s Seneca Hotel has been acquired by Waterton Residential, a subsidiary of Waterton Associates LLC. The boutique hotel, located in the Gold Coast neighborhood, will be restored to a select apartment community, with renovated apartments available for occupancy beginning in mid-June. The 260 newly restored luxury rental residences will be […]
MB Real Estate Expands Leasing Portfolio in Downtown Chicago
By Gabriel Circiog, Associate Editor MB Real Estate has announced the expansion of its leasing portfolio to over 14.4 million square feet. The Chicago-based company, founded in 1982, has been awarded five new leasing assignments in downtown Chicago. The new additions include 300 E. Randolph—a 57-story tower owned and anchored by Health Care Service Corporation. […]
Ivanhoe and Hines to Build $300M Chicago Office Tower
By Gabriel Circiog, Associate Editor Ivanhoe Cambridge and Hines have partnered to develop a 45-story office tower in the West Loop in downtown Chicago. The announcement came from Mayor Rahm Emanuel, who said the $300 million project is “a vote of confidence for our city, welcome news for the local economy and a signal that […]