Real Estate

Avison Young is marketing a two-building, 508,088-square-foot industrial portfolio in the South Cook submarket for sale. The properties at 5555 West 115th Street and 11535 South Central Avenue are 100% occupied by credit tenants Crown Holdings Inc. and Berry Global, Inc., respectively. The portfolio listing is managed by Erik Foster...

The $53.1 million rehabilitation of the Near West Side’s former Mid-City Trust and Savings Bank as a hotel will be assisted by a $1.3 million Adopt-A-Landmark grant and tax incentive approved by City Council today. Planned by ECG Madison LLC at 801 W. Madison St., the 82,000-square-foot project will...

Two model homes at Chicago’s Tribune Tower showcase distinctively different designs — one with a Chanel nod and the other with a Ralph Lauren vibe — but with one professional in common. For more than 25 years, Pam Maher has been “breathing life” into new and existing...

Whether you’re looking for a new build or just hunting for more space, the burbs are beckoning. Here’s where to start the search for your dream home in your dream town. Where You Can get a Big House For Less Than $1 Million. If you’re in a “Go...

In observation of Asian American, Native Hawaiian and Pacific Islander Heritage (AAPI) Month in May, some of Chicago’s most notable real estate executives have joined forces to create SAIRE – South Asians in Real Estate – a newly founded non-profit organization. A professional group dedicated to supporting...

Andrew O'Connor and Katie Lambert were thrilled to move from Chicago into an 1883 Gothic Revival home at 136 N. Washington St. in November 2021. They were not as thrilled with the staircase leading to the second floor. "When we moved in, we couldn't bring furniture upstairs. We slept on...

Chicago, also known as the Windy City, has a lot to offer its residents. It has diverse neighborhoods and a constantly changing skyline. Living in Chicago can be expensive, so you might be curious about the cost of rent in the city. The typical monthly rent is $1,572 for a studio apartment, $1,907 for a one-bedroom apartment, and $2,558 for a two-bedroom apartment. However, these prices might be too expensive for you.

Detached homes in the Chicago suburbs now cost a median of $360,000: that’s a 9.1%, or $30,000, increase from last year, according to new data from the Mainstreet Organization of REALTORS®. Meanwhile, in the entire Chicago-Naperville-Elgin region, prices climbed 8.8% over the past year, reaching $349,300. “We have...

The proliferation of short-term rentals and skyrocketing rents has made it difficult for lifelong residents to stay on the Lower West Side. The post Are Airbnbs Fueling Gentrification in Pilsen? appeared first on South Side Weekly.

In the West Loop, Johnson aides ultimately approved deals to convert three former office buildings into migrant housing at a cost to the city of as much as $1.3 million a month, according to information provided by the city. That tab is just for renting the space — it doesn’t include food or other services. And the city has opened 22 other shelters, most in privately owned buildings whose owners will be compensated at rates not yet revealed to the public.The city is obligated to pay far more to use the West Loop properties than they were generating before they were used as shelters. Advertised rent for West Loop office space is a fraction of the rate the city is responsible for paying to house migrants. Plus, before they were used for temporary housing, none of the shelter buildings had been full, as landlords struggled with plummeting demand for office space after the pandemic.  City officials and real estate professionals said the shelter deals resulted from Johnson’s commitment to help migrants. They stressed that the costs of managing the properties, including utilities and insurance, are higher when they’re used for housing instead of offices. “To compare what a company would pay to lease out the building with what the City is paying would be a misrepresentation of the reality,” the Mayor’s Office said in a written statement. A woman volunteers for public comment during a West Loop community meeting on Sept. 18 regarding temporary shelters for migrants. Credit: Melody Mercado/Block Club Chicago But the city hasn’t offered a full picture of that reality. As in other neighborhoods, the shelter deals in the West Loop remain shrouded in secrecy, which has hurt the cause of helping the migrants, neighbors and alderpeople say: Johnson administration officials won’t detail how the West Loop shelter sites were chosen, instead providing a general overview of how the Mayor’s Office and other departments work with contractors to identify suitable properties. The overview shows the city did not undertake a competitive bidding process before renting the properties. Buses from Texas began bringing migrants in August 2022, but officials consider the shelters part of an ongoing emergency response, allowing the city to bypass standard contracting rules. City officials also said they don’t yet have records showing how much they’ve been billed for use of the West Loop properties.Johnson aides told Block Club they don’t have copies of the West Loop rental agreements because contractors handled that work. The contractors and building owners declined to comment, wouldn’t provide figures or documentation or didn’t respond.  The Johnson administration should let the public see details of the shelter deals, including rental agreements and payments, said Joe Ferguson, the city’s inspector general from 2009 to 2021. If city officials don’t have those records, they aren’t providing adequate oversight, he said.

I'll admit that I can be a jaded individual that's hard to impress, but this Illinois mansion is incredible. It's a more than 20,000 square foot estate that has an exotic outdoor pool area and an elaborate train set room. I first saw this place shared by Zillow Gone Wild...

CHICAGO — It’s been four years since the COVID-19 outbreak led to a rise in remote work. Now, even though the public health crisis has diminished, the work from home trend shows no signs of slowing, pushing downtown office vacancies higher. “We just don’t have the same number of people working in the Loop as […]

The Goldie Initiative, a nonprofit supporting women in commercial real estate, recently held its inaugural Impact Summit at Chicago’s Willis Tower. Over 150 commercial real estate industry professionals attended the event, which recognized volunteers, mentors, and donors for their contributions to improving the industry. Impact Summit Award Winners honored...

CHICAGO, IL - Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the $12.69 million sale of a newer-construction mixed-use property comprising 30 residential units and six commercial spaces at 2827-2847 N. Clybourn Ave., in the city’s West Lakeview neighborhood. The deal equated to $352,500 per unit.

The nine story building will include 64 apartments ranging from one to three bedroom units. The $40 million project also features an exercise room, terrace, heated parking garage, laundry facilities and bike rooms.

Vancouver-based developer Onni Group has revealed renderings for its proposed multi-phased development, Halsted Landing, at 700 W. Chicago Avenue. The developer purchased the site in 2022 for roughly $45 million. The project will have a total of 2,451 residential units, including 490 affordable units. It will also have over 1,000...

Bradford Allen’s latest “CRE Pulse” report suggests the suburban Chicago office market is more resilient than it seems. According to findings, a deeper dive into the data shows that the actionable portion of the market is much more competitive than headline figures suggest. The current vacancy rate...