The word is that Depaul University has been considering the Finkl & Sons Steel Mills at Clybourn Avenue and Cortland Street as a place to build a new 10,000 seat basketball stadium so that it could be in the proximity of their Lincoln Park Campus. They are also considering an alternative site just south at [...]
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5 November 2009 ? An embattled development, located in the heart of the loop, recently announced multiple new retail tenants. Scheduled to open by Thanksgiving, the retail portion of Block 37 experienced some trouble as its proposed anchor tenants Movico and David Barton’s Gym pulled out of their agreements. However, Block 37 may be able [...]
Many Chicagoans are still reeling with disappointment over Chicago?s loss of the 2016 Olympics. But the impact on the near south and South Loop real estate markets may have been less than positive after the flame was extinguished.
For the price of a condo, you very well could buy 2.7 million square feet in downtown Chicago. Sadly, after 13 years of failed re-development efforts, the US Postal Service is auctioning off what was once described as the world?s largest Post Office with a suggested opening bid a measly $300,000. Hard to believe that [...]
8 July 2009 – The mortgage backed bonds opened up slightly favorable today and have continued to gain momentum. The bonds are currently up 31 bps and if they can hold this gain we may see rates continue to improve. However earnings will start to come out over the next week, which will have an [...]
The Postal Service has decided to auction off the site of the old post office at 433 W Van Buren. Built in 1932, this building straddles the Eisenhower Expressway and is on the National Register of Historic Places. It was the largest postal facility in the US, but was vacated in 1995 when the USPS [...]
The Illinois Association of Realtors is reporting that March home sales in Chicago were up 40.6% over February. February 2009 saw 840 transactions and there were 1,181 in March. However, year-on-year the numbers are way down, with a drop of 42.2% (down from 2,044 in March of 2008). Chicago’s prices are proving to be sticky?the [...]
Between 1990 and 2000, according to the census, the South Loop’s population increased by 39 percent?the third largest neighborhood population increase in Chicago for that 10 year period. That the area’s growth and popularity had grown was obvious and apparent in both housing costs and real estate values. Growth continued and rates rose due to [...]
CoStar is reporting that Ernst & Young have signed a 10-year lease for 203,618 square feet at The John Buck Co.’s new office development at 155 N. Wacker Drive. According to The John Buck Co’s web site, the 46 story, 1.13 million-square-foot office tower is scheduled to be completed in July of 2009. Costar is [...]
Commercial real estate is going to have a challenging 2009. High vacancy rates, lower rents, and tight credit are all a recipe for a very difficult time for commercial landlords. This is evident in nearly any retail street in Chicago with more and more soaped up windows.