Regions Midwest | Chicago
In Chicago's CBD, Pendulum Swings in Tenants' Favor
April 01, 2009
Like other major office markets nationwide, Downtown Chicago is feeling the recession. As with any swing in the economy, however, that represents a headache or an opportunity, depending on who you are.
On Heels of Sears Tower Deal, Chicago Leases Continue
March 20, 2009
A week after Chicago’s most famous office property got a new tenant and a new name, the city's office market continues to make headlines this week, as Tishman Speyer inks a pair of tenants to large leases totaling more than 240,000 square feet. Despite the spate of leases, though, uncertainty pervades in the market.
Sears Tower Adds Tenants, Plans Name Change
March 13, 2009
Chicago’s office trends aren’t much different from the rest of the country as companies of all sizes are terminating their leases or are downsizing, but the Sears Tower is as popular as ever. About a week after expanding the lease for a major tenant in the tower, the building may be changing its name to the Willis Tower after global insurance broker Willis Group Holdings inked a lease in the world-famous Chicago high-rise.
Chicago Market Quiets, But Not Silent Yet
March 11, 2009
Despite an overall bleak picture for Chicago’s industrial and office product, the market is still seeing activity. Over the past few days, the city has seen both an industrial lease deal and the announcement of an office development, but such deals are becoming a rarity rather than the norm.
For Hotel Developers, 2009 Proving to Be No ‘Shangri La’
March 03, 2009
A lending environment that is particularly hostile, and a deep recession that is severely depressing hotel operating fundamentals, are putting many high-profile lodging development projects on ice. The latest victim is the Shangri La Chicago, a 222-room hotel that was to open in the Waterview Tower at West Whacker Drive and Clark Street, along the Chicago River, construction on which is currently at a standstill.
REIT Takes 595,000-SF Chicago-Area Distribution Center
Jan. 27, 2009
Making its entry into the Chicago-area market, US Industrial REIT II, which is owned by an affiliate of USAA Real Estate Co. and other institutional investors, has acquired the Cinram Distribution Center, a 595,000-square-foot facility located within the Meridian Business Campus in Aurora, Ill.
Verizon Signs 72,696-SF Lease Extension in Chicago
Jan. 07, 2009
Verizon Business Services, a unit of Verizon Communications, signed a 72,696-square-foot lease extension at Michigan Plaza, the two-tower complex located at 205/225 N. Michigan Avenue in Chicago.
New Chicago Lease Further Evidence that ProLogis is Alive and Kicking
Dec. 17, 2008
Even if the generals have a brilliant plan for victory, wheels still need to roll at the front line if it’s all going to mean anything. In the case of ProLogis, time might still have to tell regarding the warehouse/distribution giant’s recovery strategy, but the ground-level activity seems to be rolling forward much as usual.
Lynd Breaks Ground on First Chicago Property
Dec. 16, 2008
San Antonio, Texas-based developer Lynd Development Partners is making its first move into the Chicago market with a 300,000-square-foot, 249-unit apartment tower.
KPMG Taps Diliberto as Managing Director
Dec. 03, 2008
Frank Diliberto joins KPMG Corporate Finance L.L.C. as managing director with real estate services, heading the company’s real estate auction platform.
JV to Develop 162,000-SF Office Building near Chicago
Nov. 20, 2008
Bridge Development Partners L.L.C. in partnership with Globe Corp. will develop 555 Corporate Center, a 162,000-square-foot, four-story speculative office building at 555 Aptakisic Road in Lincolnshire, Ill. Plans call for the Class A office facility to be LEED certified by the U.S. Green Building Council.
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