Techny
Techny, IL · Real Estate
hoodline.com
Nearly Empty Loop Tower at 55 E. Jackson Eyed for Apartments or Hotel
A 22-story office tower at 55 E. Jackson Blvd. in Chicago's Loop business district sits nearly vacant after its previous owner and lender surrendered control, and the building's receiver is now pitching it as a candidate for residential or hotel conversion. The building's steep falloff marks the latest sign of distress among the city's aging commercial towers, even as developers across downtown race to turn empty office floors into apartments.
hoodline.com
Uptown Parking Lot Near Thorek Hospital Could Become 35-Unit Apartment Building
5036 N. Ashland Ave. — Approximate Site Of Proposed Apartments. A parking lot and an adjacent vacant lot across from Thorek Hospital in Uptown could soon give way to a five-story, 35-unit residential building, under plans presented to the neighborhood last week. The site sits at the intersection of North Ashland Avenue and West Winnemac Avenue, near the edge of Andersonville, and would bring a mix of one- and two-bedroom apartments along with a shared rooftop deck to a stretch of Ashland that has seen a wave of similar projects in recent years.
WGN Radio
Illinois Hotel & Lodging Association: ‘We have to understand the cost pressures that hotel owners are facing’
Michael Jacobson, President and CEO, Illinois Hotel & Lodging Association, joins John Williams to talk about the Chicago hotel workers strike, what’s holding up the negotiating process, how the bargaining works, what a typical hotel worker makes, the lucrative benefits that hotel workers receive, how disruptive this has been for hotel operations, and what needs to happen so […]
connectcre.com
Lee & Associates of Illinois Closes Four Office Suburban Chicago Leases
Lee & Associates has closed four office leases in Chicago’s western and northwest suburbs. Grant Bollman, senior vice president at Lee & Associates of Illinois, represented tenants in the transactions, which included Thomas Architects signing a 1,411-square-foot new lease in Arlington Heights and Thorndale Construction signing a 2,903-square-foot lease expansion in Naperville. Additionallu, TekPro Staffing signed a 2,577-square-foot lease expansion in Oak Brook, and Terrell Materials signed a 2,804-square-foot lease renewal in Westmont.
The Crusader Newspaper
Gary Mayor Eddie Melton Launches “GrowIN Gary” to Revitalize Neighborhoods
New land sale initiative aims to transform vacant properties into housing, attract investment and strengthen communities across the city. Mayor Eddie Melton has announced the launch of GrowIN Gary, a new city land sale platform designed to transform vacant properties into residential development opportunities, attract private investment and accelerate neighborhood revitalization throughout Gary.
chicagostarmedia.com
Buyers bet on future of downtown Chicago retail as Block 37 and The Maxwell sell at low cost
Two major Chicago retail properties have changed hands at significantly low costs, highlighting both the challenges facing downtown shopping centers and renewed interest in the city’s central neighborhoods. According to the Chicago Business Journal, Orland Park-based Edwards Realty Co. paid $30 million for Block 37, a five-story shopping center...
connectcre.com
Chinese-Peruvian Restaurant Concept to Open in River North
Éxodo Hospitality Group announced the opening of Cha Chin, a new modern Chinese-Peruvian restaurant in River North at 407 N. Clark Street. Designed by local interior design studio Crespo and Br, the restaurant will feature a 70-seat dining room and a seven-seat bar. “With Cha Chin, we want to tell a story around unexpected Chinese cuisine through our own perspective and create something that will bring a fresh conversation to Chicago’s dining scene,” said Éxodo’s Culinary Director José Luis Chávez.
uptownupdate.com
Uptown's Clark Street Boom Continues: New Development at 4848 N. Clark Incoming
We have been watching the building at 4848 N. Clark with interest for years now. 4848 N. Clark (Courtesy @properties Listing) The handsome but non-descript old warehouse & manufacturing building along Clark was built in 1936 just north of the now demolished Rainbo Gardens (later Rainbo Roller Rink). In a reflection of the changes to Uptown in the 1930's, the building had various automotive and light manufacturing tenants over the years and was most recently home to a couple of art studios.
hoodline.com
Mies van der Rohe Tower at 111 E. Wacker Heads to Foreclosure Auction
One Illinois Center, the 33-story office tower at 111 E. Wacker Drive designed by famed architect Mies van der Rohe, is headed to a foreclosure auction. The building has become the latest downtown Chicago office property to land on the sales block as landlords across the Loop struggle under the weight of a historically weak office market.
connectcre.com
Michelin Buys Wilmington Distribution Center for $151M
Silver Creek Development has sold a 2-million-square-foot industrial facility and an adjacent land parcel to Michelin North America for $151 million. Located at 29900 S. Graaskamp Blvd. in Wilmington, about 60 miles southwest of downtown Chicago, the regional distribution property sits on a 91-acre site and is fully occupied by Michelin North America. The company uses the property to house inventory serving dealers and automakers throughout the Midwest and the western United States.
trapezeonline.com
Developers may face challenges under Shape OP
Developing new properties under the Shape Oak Park rezoning plan would be “challenging,” according to a consultant who presented a financial feasibility study at the Oct. 15 Oak Park Plan Commission meeting, which was held in the Oak Park and River Forest High School auditorium. Shape Oak Park...
hoodline.com
El Car Wash Grabs Four Sparkle Sites, Eyes 50 Spots Across Chicagoland
A Miami-based car wash chain just bought its way into the Chicago market, scooping up four Sparkle Express Car Wash locations as the opening move in a plan to blanket Chicagoland with as many as 50 sites. El Car Wash announced the acquisition on Thursday, confirming it closed for an undisclosed sum and marks the company's first foothold in Illinois.
DMR News
Chicago Real Estate Broker Mark Raffaelli Passes $200 Million in Career Sales
Mark Raffaelli, a broker with Jameson Sotheby’s International Realty serving Chicago and the surrounding suburbs, has surpassed $200 million in total career sales. The milestone follows a strong third quarter that carries him into the end of 2026 with momentum. Over 24 years, Raffaelli has built a practice largely through referrals and repeat clients. He […]
FOX 32 Chicago
Former home of Rainforest Cafe facing foreclosure
yieldpro.com
Essex Three-Twelve Closes Multifamily Sale in Chicago’s Historic Logan Square
Essex Three-Twelve, LLC, a Chicago-based multifamily investment sales brokerage, announced the successful sale of 3136 W. Logan Blvd., a historic four-unit greystone located along Logan Boulevard in Chicago’s Logan Square neighborhood. The property closed for $1,300,000, with Essex Three-Twelve Broker Jack Doyle representing the seller. The property generated significant...
connectcre.com
Hiffman National Surpasses 100M SF of Commercial Real Estate Under Management
Hiffman National announced it has surpassed 100 million square feet of commercial real estate under management, reaching more than 104 million square feet across 665 office, medical office, industrial and retail properties nationwide. The milestone marks significant growth for Hiffman National, which launched its property management platform in 2005 with...
connectcre.com
Irvine Company Sells Chicago Tower for $550M to Zara Founder
Irvine Company has sold the One North Wacker building to Ponte Gadea, the family investment firm of Amancio Ortega, the billionaire founder of fashion retailer Zara. The 51-story office tower was acquired for approximately $550 million, reported Crain’s. The transaction includes the assumption of a $353 million CMBS loan that Irvine Company secured in 2021. Bryan Rosenberg of Eastdil Secured Savills brokered the sale.
hoodline.com
Salt Shed Unveils 15,000-Capacity Riverfront Amphitheater Plan in West Town
N. Magnolia Ave. — Approximate Site of Proposed Amphitheater. Salt Shed owners have submitted zoning plans to the city for a major expansion that would transform a vacant lot across the street into a sprawling amphitheater complex, complete with a public riverwalk, boat dock and a plaza connecting it to the existing venue. The project would rise on a 10-acre site at 1459 North Magnolia Avenue in West Town, directly across from the music complex that has hosted concerts since 2023 inside the former Morton Salt warehouse.