Chicago
General Growth Properties Buys Chicago ‘Magnificent Mile’ Building from Grosvenor
General Growth Properties has acquired a 126,000-square-foot retail building in the heart of Chicago’s “Magnificent Mile” shopping district from Grosvenor Americas.
LifeStorage Opens New Facility in Chicago’s West Loop
LifeStorage has recently announced the opening of its new self storage venue in the rapidly growing, historic Chicago West Loop neighborhood.
The Chicago-based self storage provider for residential and commercial clientele, LifeStorage, was founded in 2002 with a single storage facility and has since then grown to 49 storage facilities in eight states.
Reed Construction to Renovate Aon Corp. Headquarters at The Aon Center; Urban Innovations Announces Signing of Five New Leases
Reed Construction, a full-service general contractor, recently announced it has been chosen to complete a 375,000-square-foot renovation for Aon Corporation at The Aon Center in Chicago.
Berkadia Arranges $46.4 Million for Two MF Properties
The Chicago office of Berkadia Commercial Mortgage LLC has recently announced it has closed a total of $46.4 million through the U.S. Department of Housing and Urban Development’s 223(f) program for two apartment communities.
Hyatt Place Chicago-South/University Medical Center Officialy Opens in Hyde Park
Hyatt Hotels Corporation and SMART Hotels/Olympia Chicago LLC, a joint venture of The Olympia Companies and SMART Hotels LLC, recently announced the opening of Hyatt Place Chicago-South/University Medical Center. After the opening of Hyatt Place Chicago/River North in June, the new hotel marks the brand’s second location in Chicago and becomes the first newly built hotel to open in Hyde Park in 50 years.
Zurich North America to Acquire Land from Motorola Solutions and Develop New Headquarters in Schaumburg
Zurich North America recently announced it has signed a letter of intent with Motorola Solutions to acquire land for a new North American headquarters in Schaumburg.
The Dump Furniture Store Opens in Lombard; Joint Venture to Develop Evergreen Promenade Shopping Center
One of the largest furniture outlets in the country, The Dump, has recently officially opened its new location in Lombard, Illinois. Featuring a staggering 134,000 square feet, The Dump is now the largest high-end furniture outlet in the Chicago marketplace. The opening of the Lombard outlet confirms the company’s continuous expansion as it becomes the 11th location for The Dump Furniture Store, a division of Virginia Beach-based Haynes Furniture.
AFL-CIO Housing Investment Trust Provides Funding for $32 Million Rehabilitation of 2101 South Michigan Apartments
The AFL-CIO Housing Investment Trust has recently announced that, after working closely with PNC Real Estate and Developers Mortgage Corporation, it has provided $32 million of pension capital funding towards the major rehabilitation of Chicago’s 2101 South Michigan Apartments.
Ethika Investments Allocates Capital for Laurus Corporation’s Acquisition of the Renaissance O’Hare Hotel
Ethika Investments LLC, has recently announced a capital allocation for the purchase of the Renaissance O’Hare Hotel in Chicago, Illinois, marking the sixth investment from Ethika’s Diversified Opportunity Real Estate Fund. Laurus Corporation, Ehika’s affiliate, a real estate investment and development company specializing in hotel and resorts, office buildings and mixed-use properties, recently completed the acquisition of the hotel.
Harbor Group Sells Chicago Office Tower to Beacon for $113M
An affiliate of Harbor Group International has completed the sale, for $113 million, of 300 South Wacker Drive, a 35-story, 512,400-square-foot office building in downtown Chicago.