Chicago
29th Street Capital Acquires MF Property; eBay to Expand Presence in Illinois
Real estate investment and advisory firm 29th Street Capital recently announced it has closed on a multi-family property located in the Bridgeport neighborhood of Chicago.
W.P. Carey Inc. Acquires $48 Million Distribution Facility
W.P. Carey Inc. recently announced it has acquired an 824,624-square-foot distribution facility just outside of Chicago. The property was purchased from Exeter Property Group for a total acquisition price of approximately $48 million.
New Loews Chicago Hotel Joins ALHI
Associated Luxury Hotels International recently expanded its portfolio with the addition of the new Loews Chicago Hotel which is scheduled to open in the beginning of 2015. AHLI will provide Global Sales Organization support, expertise and sales services for the new Chicago Hotel.
CVMC REIT Pays $211.7 Million for 250,000-Square-Foot Chicago Data Center
Carter Validus Mission Critical REIT Inc. has acquired the Chicago Data Center Facility in the Northlake suburb of Chicago for $211.7 million. The REIT will provide new capital for the continued build out and expansion of the facility.
Michelin Inks 1.7 MSF Lease at RidgePort Logistics Center in Chicago Area
Tire-manufacturing giant Michelin has entered into a build-to-suit agreement under which it will lease 1.7 million square feet of distribution space at the RidgePort Logistics Center in Wilmington, Ill.
Brennan Investment Group and Westminster Capital Sell Ogden Corporate Center
Chicago-based Brennan Investment Group LLC and its joint venture partner Lake Forest, Ill.-based Westminster Capital recently announced the sale of Ogden Corporate Center to a private investor.
Beacon JV Acquires $100M Chicago Loop Office Tower
Beacon Investment Properties , in a joint venture with Harel Insurance, Investments and Financial Services Ltd, of Tel Aviv has bought a 23-story office tower in Chicago’s West Loop from Monroe Acquisition for $100 million.
Historic 850 Lake Shore Drive Earns Recognition from Chicago Association of Realtors
The conversion of the historic Lake Shore Athletic Club building into luxury apartments has won the 2014 Chicago Association of Realtors Good Neighbor Award. The distinction honors groundbreaking new and newly rehabbed or redeveloped properties in the Chicago metropolitan region that have augmented economic vibrancy in their neighborhood and boosted local pride.
Luxury Boutique Hotel Announces Opening in Chicago’s Andersonville Neighborhood
The Andersonville Guesthouse is set to expand and upon reopening, in the summer of 2014, will be rebranded into The Guesthouse Hotel.
$79 Million TIFIA Loan for the Reconstruction of the CTA’s 95th Street Red Line Station Secured
Mayor Rahm Emanuel and Senator Dick Durbin recently announced that $79 million in federal funding has been secured to finalize the funding of the new 95th Street Terminal on the Chicago Transit Authority’s Red Line.