Investor Interest Perks Up For Evanston Office Buildings

Investor Interest Perks Up For Evanston Office Buildings

Investor interest has perked up for downtown Evanston office buildings. Free Market Ventures, a Chicago-based group, just became the latest buyer to enter the market. The company bought 820 Davis St., a 76K SF office building in downtown Evanston, for $10.6M and plans an extensive renovation and modernization of the building.
Stephen Lieberman, first vice president, investments, in Marcus & Millichap’s Chicago Downtown office, procured the buyer and exclusively marketed the property on behalf of the seller, a North Shore-based private family that Cook County records show bought the building in 2002 for $6.2M.
“New ownership has the opportunity to renovate and…


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CRE Leaders Say Mayoral Choice Remains A Toss-Up

CRE Leaders Say Mayoral Choice Remains A Toss-Up

After 30 years of business-friendly mayors who have been strongly supported by the city’s commercial real estate industry, Chicago voters heading to the polls Tuesday will choose between two candidates who might be at odds with local real estate leaders.
Whether it concerns the use of public tax increment financing districts to create mixed-use communities, or a possible increase in the real estate transfer tax, candidates Lori Lightfoot, the corporate attorney and former head of the Chicago Police Board, and Cook County Board President Toni Preckwinkle both have taken strong stands opposed by most real estate professionals.


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Multistory Distribution Buildings Are Coming To Chicago, Eventually

Multistory Distribution Buildings Are Coming To Chicago, Eventually

Ever since the recession ended, the Chicago industrial market has been setting one record after another for leasing activity, new development and rental rates. Many markets around the U.S. experienced similar successes, as the rise of e-commerce fueled more demand for the distribution facilities needed by retailers and logistics firms to get products into the hands of consumers.


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City Selects Jeanne Gang To Design New O’Hare Airport Terminal

City Selects Jeanne Gang To Design New O’Hare Airport Terminal

Hometown architect Jeanne Gang will lead the design of O’Hare International Airport’s new Global Terminal and Global Concourse, Mayor Rahm Emanuel announced Wednesday. The terminal is part of an $8.5B expansion, one of the largest public projects in Chicago history.
Following a competitive process, the Department of Aviation shortlisted five design teams, including Santiago Calatrava LLC and Skidmore, Owings & Merrill, but Gang’s Studio ORD won the contest.
The move comes just weeks before Emanuel leaves office, and, along with finalizing plans for mammoth mixed-use communities such as Sterling Bay’s Lincoln Yards and Related Midwest’s The 78, it represents one of his final chances to…


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Construction’s Most Underrated Priority: Exceptional Customer Service

Construction’s Most Underrated Priority: Exceptional Customer Service

With the construction market booming and labor and materials becoming more expensive, construction companies are under immense pressure to do more with less. But alongside investment in talent and business development, construction companies can focus on another aspect of their business to keep their pipelines full: customer service.
“Providing the best customer service to every client really counts in construction,” BEAR Construction Executive Vice President Scott Kurinsky said. “Everyone knows each other in this industry. If you can keep the clients that you already have because they like working with you, and build a reputation that spreads, you can set yourself up…


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This Week’s Chicago Deal Sheet

This Week’s Chicago Deal Sheet

The apartment boom in Chicago’s Lakefront neighborhoods continues to gather steam. McCaffrey Interests and Hines Monday welcomed the first residents to The Apartments at Lincoln Common, a 538-unit community the partners built at 2345 North Lincoln Ave. in Lincoln Park.


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