Chicago
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 […]
Chicago and Aeroterm LLC Reach Agreement for $200M Project at O’Hare
By Gabriel Circiog, Associate Editor The City of Chicago has reached an agreement with Aeroterm LLC to start construction of the Chicago O’Hare International Airport Northeast Cargo Center. Mayor Rahm Emanuel announced the development project, which will expand and enhance the efficiency of O’Hare’s airport cargo operations, as well as create around 1,200 construction jobs, […]
Lowe Enterprises Investors Acquire Affinia Chicago Hotel
By Gabriel Circiog, Associate Editor The 28-story Affinia Chicago Hotel has been acquired by Lowe Enterprises Investors on behalf of an investment client. The seller, Denihan Hospitality Group, was represented by Eastdil Secured. Lowe Enterprises Investors represented itself in the transaction. Hotel management will be taken over by Destination Hotels & Resorts—an affiliate of Lowe […]
John Hancock Real Estate Acquires 150 North Michigan Avenue Office Tower
By Gabriel Circiog, Associate Editor The 41-story 150 North Michigan Avenue office tower has been acquired by John Hancock Real Estate—the U.S. unit of Manulfie Real Estate—for $102 million. As previously reported by Commercial Property Executive, Jones Lang LaSalle Inc. was hired by Germany-based SEB Asset Management A.G. to market the property—previously acquired in 1999 […]
Holliday Fenoglio Fowler Hired to Sell 1401 S. State St. and North Shore Hotel
By Gabriel Circiog, Associate Editor Holliday Fenoglio Fowler L.P. has been hired by a venture that includes Sam Zell’s Equity Residential and Dallas-based developer Lincoln Property Co. to market a 22-story apartment building located at 1401 S. State St., Chicagorealestatedaily.com reports. The South Loop urban loft high-rise was completed in 2008 and features 278 studio, […]
Canadian REIT Acquires Westfield Business Park in Elgin
By Gabriel Circiog, Associate Editor Westfield Business Park, a 513,313-square-foot office complex located in Elgin, has been acquired by a newly formed Canadian real estate investment trust, Chicagorealestatedaily.com reports. In February, Commercial Property Executive reported on the intensified activities of Canadian REITs in the U.S. market after Vancouver, B.C.-based Onni Group agreed on a deal […]
Luxury Parc Huron Apartment Tower to be Sold for $110 Million
By Gabriel Circiog, Associate Editor An affiliate of Dallas-based L&B Realty Advisors LLP has agreed to purchase the luxury Parc Huron apartment tower for $110 million, Chicagorealestatedaily.com reports. The 221-unit building, located at 469 W. Huron Street in the River North neighborhood of Chicago, will be sold by local developers Tony Rossi, Thomas Moran and […]
United Airlines Could Unite Downtown Offices in Willis Tower
By Gabriel Circiog, Associate Editor The parent company of United Airlines is pondering uniting the company’s downtown offices under one roof at Willis Tower, Chicagorealestatedaily.com reports. Sources say that United Continental Holdings Inc. is searching for tenants to fill the 250,000 square feet it currently leases at the United Building, located at 77 W. Wacker […]
Streets of Woodfield to Be Sold by Kimco Realty Corp.
By Gabriel Circiog, Associate Editor The Streets of Woodfield, a 713,000-square-foot outdoor mall located in Schaumburg, is being sold by Kimco Realty Corp., ChicagoRealEstateDaily.com reports. Arrow Retail, a Dallas investment firm, has agreed to buy the property located at 601 N. Martingale Rd. Although the agreed price is not yet known, another investor had signed […]