Des Plaines
REAL ESTATE
Northbrook 4-bedroom home with lap pool and cabana: $2M
Address: 1540 Grant Road, Northbrook Price: $1,999,000 Listed: June 11, 2024 This mid-century modern house in Northbrook has four en suite bedrooms, including a 1,000-square-foot primary suite with in-floor radiant heat and a California Closets dressing room. The primary suite also has a sitting room with a fireplace, a floating double vanity, a hands-free toilet, a sauna and an oversize jetted tub. The house also has a game room, a gym and a heated three-car attached garage. The outdoor space has a patio area with an outdoor shower, a pool with a 45-foot lap-swim area and a shallow area, a 10-person hot tub, a cabana and a greenhouse. The outdoor area also has a 10-zone sprinkler system, a winding driveway and a sports court area.
Tapestry Station developers pitch 230-unit building on Custer Ave.
The developers behind the recently opened Tapestry Station are gearing up for a second large-scale development close by at 910-938 Custer Ave., a large lot with a vacant industrial building that they plan to replace with a five-story, 230-unit apartment building. Several team members presented the concept to Fourth Ward...
Peak Properties LLC takes over management duties at Gold Coast apartment property
Peak Properties LLC has taken over management of 860 Dewitt, previously Gold Coast City Club Apartments. Located in the heart of Chicago’s Gold Coast/Streeterville neighborhood, the property features 148 residential units, one commercial space occupied by Dollop Coffee and the adjacent parking garage. Offering studio to penthouse apartment options,...
Multifamily Property in WA Sells for $12M
Kidder Mathews completed the sale of Clara Flats, a 30-unit mixed-use apartment building, for $11.9 million. The property, completed in 2020, consists of two buildings with two fully leased retail spaces. Located at 608 NE Birch Street, the buildings overlook downtown Camas and feature mountain and river views. A Portland-based...
Office tenants seek out top-tier spaces, showing downtown market isn’t quite dead
The downtown Chicago office market remained stuck in the doldrums during the first half of 2024, with a historically high vacancy rate and sinking office employment. But the news isn’t all bad. The best skyscrapers, either recently built or renovated, are thriving as companies entice employees back downtown by renting top-tier offices. “The old adage that success breeds success is true,” said ...
PGIM Real Estate Provides $98M for 7-Property Industrial Portfolio
PGIM Real Estate has provided a $98.3 million floating-rate loan for a seven-asset industrial portfolio through its core-plus lending strategy. The portfolio, spanning 1.45 million square feet, includes properties in Chicago, Atlanta, Boston, and Bergen County, NJ. The loan will finance capital improvements and lease-up efforts for three properties. “This...
New UPDATE: Confusion As To WHO Actually Owns Bob’s Salt and Feed Property
UPDATE 2: as of the publication of our update 4 days ago, the West Chicago City Administrator emailed us (unsolicited ), and said this:. “I’m sorry Heather, while what Tom wrote you is accurate, as I previously communicated, we are still not the official owner of the three parcels and won’t be until all outstanding obligations are satisfied and we close on the property, both of which have not occurred; the back taxes component has been particularly challenging. The City hopes to finalize those remaining requirements to complete the ownership process next week.”
Real estate firms to break ground on 4 medical office buildings in Florida
Two Florida-based real estate developers are planning to break ground on three Florida medical office buildings in the fall, according to a June 28 report from the South Florida Business Journal. A fourth building by a separate developer is also coming to Pembroke Pines, Fla. The other buildings will be...
Onni Secures $1B Refinancing for Chicago, L.A. Apartment Portfolio
Canadian developer Onni Group has secured $1 billion in refinancing for an eight-tower apartment portfolio in Chicago and the Los Angeles area, according to a Fitch Ratings report. Vancouver-based Onni is slated to receive $875 million on a five-year, fixed-rate deal and US$125 million in mezzanine debt. The deal is...
Nominations Are Open for Connect CRE’s 2024 Women in Real Estate Awards
For the eighth consecutive year, Connect Commercial Real Estate will honor women whose talent, drive, leadership and fresh ideas have helped them succeed and become influential in commercial real estate. Nominations are now open for the 2024 Women in Real Estate Awards, and we invite you to participate. We’ll put...
Report: Chicago Office Market Leasing Activity Remains Expiration-Driven
The downtown Chicago office market experienced divergent conditions in Q2, with overall inventory remaining stable at 148.7 million square feet, according to a Q2 office report from Savills. The bifurcated conditions resulted in properties with newer construction, amenities, and prime locations being highly sought after and performing well. Conversely, the...
Brennan Investment Group Promotes Brad O’Halloran to EVP
Brennan Investment Group, a Chicago-based private real estate investment firm, has promoted Brad O’Halloran to executive vice president. In this new position, he will lead Brennan’s capital markets department, which is responsible for the procurement of debt and equity capital—both institutional and high net worth—for the company’s value-add industrial real estate investments.
Home Renovations Favored Over Buying, Survey Finds
RIVERWOODS, IL — U.S. homeowners, facing stubbornly high mortgage rates and record home prices, are planning to do more in the way of home renovations in lieu of moving, a new study has found. According to the study, conducted by Discover Financial Services, a Riverwoods, IL-based financial-services company, more...
Buying a Home is Hard. It’s Even More Difficult When You’re Undocumented.
Several times throughout the home-buying process, Jorge wanted to throw in the towel. The journey of owning a home was longer and more complicated than he imagined. He was buried under a mountain of paperwork and endless requests for financial statements and records. Qualifying for a loan became progressively overwhelming, especially when juggling work and other responsibilities. “I was starting to regret it,” Jorge said. “I got tired.”
11 years later, a cover story is born
In a way, the cover story in this issue of Chicago Agent magazine has been more than a decade in the making. It was sometime last summer when we recognized that real estate titan Tommy Choi and mortgage expert Amir Syed appeared on the cover of the July 2013 magazine for an article about business partnerships.
MRED joins NAR lawsuit settlement
Midwest Real Estate Data (MRED) will opt in to the lawsuit settlement reached by the National Association of REALTORS® (NAR) that is set to take effect Aug. 17. The settlement by NAR will remove buyer’s agent commissions from the MLS and require written buyer’s agent agreements, among other changes.
1812 N. Howe St., Chicago, IL 60614
Welcome to Cashel Home’s magnificent new construction on a corner lot, near the end of a wide, one-way, tree-lined street in desirable East Lincoln Park. This three-story penthouse, over 4,000 square feet, is a “floating home,” literally an elevated lifestyle experience. Every detail of this opulent, limestone...
Guaranteed Rate announces its rebrand to ‘Rate’
Chicago-based Guaranteed Rate, one of the country’s largest mortgage lenders, has rebranded to Rate. The company made the announcement Monday on social media. “Today, we’re rebranding as Rate,” the company posted on LinkedIn. “Just like our streamlined name, we’re committed to making the mortgage process smoother, faster and smarter, using AI to empower both customers and loan officers alike. It’s more than a new name. It’s a new era.”
Mortgage veteran rejoins Proper Rate as president
Proper Rate, a joint venture between Guaranteed Rate and real estate brokerage @properties, has announced the appointment of Chris Knapp (pictured) as its new president. This move marks Knapp’s return to the Guaranteed Rate family after an 11-year tenure with the company earlier in his career. Proper Rate is a mortgage joint venture between Guaranteed Rate and real estate brokerage @properties. Chicago-based @properties owns the Christie’s International Real Estate global luxury brand and network.
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