Chicago Commercial Real Estate News Roundup

Cawley Chicago Commercial Real Estate News 2019

Cawley Chicago combs through the headlines to provide a highlight reel with the biggest updates for Chicago commercial real estate news every quarter.

Chicago CRE News – Q1 2021

Q1 2021 Chicago commercial real estate news highlights include: the industrial real estate market boom during the last year, Chicago office real estate demandAmazon continuing expansion plan in Chicago, and much more.

Chicago Industrial Real Estate’s Boom Sparks Development in New Submarkets

BisNow covers the “rapid expansion” of industrial real estate in Chicago. The growth in the market has led to developments in non-traditional submarkets of Chicagoland. Read More

Chicago Wants to Bring Life Back to the Loop, Many Ideas Are on the Table

REJournals did a write up about the stakeholders of Chicago’s Loop, which has been hit hard by Covid-restrictions. One of the possible ideas to bring life back to the area is by closing State Street to street traffic in order to allow pedestrians to have more space. Read More 

Demand for Office Space in Chicago Has Doubled Since the End of 2020

Office space demand in one of the country’s largest office markets is approaching pre-pandemic levels according to a recent report from View the Space. Read More

Prologis Acquires Goose Island Warehouse for $100M

Prologis made one of the largest commercial real estate transactions in Chicago this year with the acquisition of a 339K-square-foot building on Goose Island. This is part of a streak of acquisitions by Prologis in Chicago’s South Side. Read More

Two Industrial-to-Office Buildings Sell in Fulton Market

Greenstone Partners announced the sale of two properties in Fulton Market. The two sites have over 75,000 square feet of land and 83,000 square feet of current leasable space. Read More

California-Based Life Sciences Firm Moves Headquarters to Chicago

BizJournals covers the relocation of a California life sciences startup relocating its HQ to Chicago, specifically in Sterling Bay’s new life sciences facility in Lincoln Park. Read More

Amazon Expands Chicagoland Presence

The e-commerce company is set to occupy space at the North Avenue Commerce Center in Winfield, Illinois. It will occupy 215,550 square feet of the 265,550-square-foot space. Read More

Brookfield Properties Inks Deal for Chicago Distribution Center

Brookfield Properties acquired a 41,000-square-foot distribution facility from Daytona Street Partners. The industrial asset is fully-leased by Johnstone Supply and Goodman Manufacturing. Read More

Chicago’s Top Three Industrial Submarkets in 2020

REJournals covers the latest reports by Colliers International Chicago that highlighted the top three submarkets in Chicago for industrial real estate in 2020. Read More

Industrial Developers Set New Records for Construction in Late-2020

Industrial real estate developers set records with the construction of the most square footage being added to the industrial real estate market in a quarter in Chicago. Read More

Chicago CRE News – Q4 2020

Q4 2020 Chicago commercial real estate news highlights include: Chicago’s industrial real estate reaching new heights, several industrial real estate transactions“healthy buildings” in the spotlight, and much more.

Chicago Industrial Deliveries Set New Heights & Vacancies Plummet

Connect Media covers the latest statistics from Chicago’s industrial real estate market. All signs point to a robust market that is reaching new heights thanks in part to the shifting market needs during the pandemic. Read More

Colliers International Chicago Inks Franklin Park Industrial Asset Deal

A Class A industrial facility with 99,076 square feet of space was sold in Franklin Park, IL. The deal was arranged by Colliers International who represented Clarius Partners / Wanxiang American Real Estate Group. Read More

Indoor Air Quality in the Spotlight as “Healthy Buildings” Becomes a Standard Due to the Pandemic

BisNow covers the emerging trend of “healthy buildings”, and more specifically sheds light on the indoor air quality that must be circulated as a means of mitigating spreading illnesses while working / interacting indoors at office buildings or other social gathering places. Read More 

Stream Data Centers Will Expand Presence in Chicagoland with a Second Data Center

Stream Data Centers acquired a 208,000-square-foot industrial asset in Elk Grove Village, where there will be a 130K-square-foot data center. Read More

CRE Developers Are Still Ready to Make Big Bets on Downtown Chicago

While Chicago’s multifamily and hospitality sectors took a hit during 2020 due to the pandemic, many CRE developers and experts see opportunities for solid investments and returns. Read More

Danish Pharmaceutical Company Chooses Chicago as Home for US Headquarters

BizJournals reports on the news that Orphazyme selected 180 North Lasalle Street, Suite 3475 as its headquarters in the United States. Read More

Chicago Falls (Slightly) on North America’s Top-30 Tech Real Estate Markets

Last year, Chicago was 22nd on the Top Tech Real Estate Markets list put out by CBRE; however, only by a slight margin to 25th among the Top-30 cities. Read More 

McDonald’s Headquarters Changes Hands for $413M

Sterling Bay and JPMorgan’s sale of the Fulton Market property tops the list of Chicago commercial real estate deals in 2020. Read More

Industrial Portfolio Sold for $111M

A discretionary fund managed by CBRE Global Investors purchased an industrial real estate portfolio with properties in Chicago and Phoenix. Read More

52,000 SF of Flexible Workspace Will Open in Willis Tower

Industrious and EQ Office partnered to create flexible layouts and new amenities within Chicago’s Willis Tower. The revamp will begin during this quarter, Q1 2021. Read More

Chicago CRE News – Q3 2020

Q3 2020 Chicago commercial real estate news highlights include: the industrial real estate market in Chicago thriving during the pandemic, commercial real estate tenant renegotiations, a couple major industrial property deals, and more.

Chicago’s Industrial Real Estate Market Setting Records During the Pandemic

“One could argue that COVID has been an accelerant for some (industrial real estate) leasing demands,” says one Chicago CRE expert regarding the current state of the market. BisNow covers where the Chicago industrial property market stands during this challenging period for the world. Read More 

Samsung Industrial Distribution Center in Illinois Exchanges Hands

Samsung’s industrial facility in the Pinnacle Business Center in Romeoville, IL exchanged hands to Exeter Property Group. The industrial distribution center is 650K square feet, and was sold for an undisclosed amount. Read More

2020 Holiday Season is Very Unpredictable for Retail

REJournals covers the upcoming 2020 holiday season with a preview of possible outcomes that can either benefit or hinder retail sales, brick and mortar stores, and e-commerce / industrial distribution centers and their demand. Read More

Ford & NorthPoint Moving Forward with Chicago Industrial Property Construction

Commerce Park Chicago began construction and is expanding thanks to a new industrial property development in collaboration from Ford Motor Co and NorthPoint Development. It is being developed at the former site of Republic Steel’s plant. Read More

Office Tenants in Chicago and Around the Country Are Set to Renegotiate Leases

It is anticipated that many office real estate leases in Chicago and around the country will be renegotiated in the coming months due to the conditions and effects of the current pandemic. Read More

Retail Real Estate Properties Are Converting to Industrial and Office Spaces Nationwide

Another noticeable shift in the markets due to the pandemic is the evolution of retail spaces into office and industrial real estate. This is the beginning of what could be a trend nationwide in the coming future. Read More

Prologis Acquires $98M Logistics Park in Illinois

Another industrial project in Romeoville, IL changed hands this quarter. Prologis aquired a 1.3 million-square-foot industrial property for $98 million. Read More

Venture One Partnership Buys Chicago-Area Industrial Real Estate Property

A partnership with Venture One and Korvitz Investment Group purchased a 488K-square-foot industrial property building in Batavia, IL. They acquired the property for $21.2M with aid from a $15M line of credit. Read More

Chicago CRE News – Q2 2020

Q2 2020 Chicago commercial real estate news highlights include: the latest news and fallout from the current pandemic, how companies and real estate investors are adapting, recaps of the latest Chicago CRE reports, and much more.

CRE Property Owners in Chicago, Illinois May Receive Tax Relief

Local authorities in Chicago’s Cook County and across the state of Illinois are putting together plans for tax relief and other financial assistance mechanisms to help property owners and other commercial real estate stakeholders. Read More

Patience Will Be a Virtue for Real Estate Investors at This Time

Real estate experts chime in on the current situation, and present several concepts that may be beneficial for those investing in real estate, or for those looking to invest in real estate currently. Read More

Chicago Spec Industrial Real Estate Sees Rise In Demand

Colliers reports on the state of the industrial real estate market in Chicago since 2013. While supply and deliveries of industrial properties has been high, demand has been even higher in the last seven to eight years. Read More 

Chicago Will Be Home to New 162K-Square-Foot Amazon Distribution Center

Conor Commercial Real Estate started construction on the 162,000-square-foot warehouse in Palatine, Illinois. This is the latest move by Amazon demonstrating the increased demand for warehouse spaces in Chicago and around the country. Read More 

Amazon to Build Two Fulfillment Centers in Chicago’s South Suburbs

To further solidify the point that Amazon and other major e-commerce / logistics companies are increasing their industrial real estate footprint, Amazon is building two new fulfillment centers in Southland within Cook County. Read More

Supply-Demand Relationship in Office Real Estate May Be Disrupted by the Pandemic, Temporarily

Commercial real estate experts specializing in the office sector discuss the affects of the pandemic on the office real estate market. Specifically addressing the past development trends compared to the new concepts that are arising to mitigate the spread of viruses to those working in office spaces. Read More

Trends in Office Real Estate Developments May Be Upended by Pandemic

Office real estate projects were already starting to employ certain trends and characteristics into the buildings themselves prior to the pandemic. Now that it is in full swing, there may be a variety of new building specs implemented to safeguard the health and well being of those working in offices. Read More

CRE Firms Turning to Technology During the Pandemic

CREXi announced an exclusive partnership with Century 21 and Coldwell Banker Commercial recently. This move is an indication of CRE firms adapting to new technologies as the shift in the workplace is becoming more and more tangible. Read More

Black Bear Capital Increases Footprint with New Offices in the U.S.A.

Black Bear Asset Management affiliate, Black Bear Capital Partners is expanding nationwide to increase its presence and business around the country. Their new offices will be in Chicago and New Jersey. Read More

Industrial Real Estate Market Providing Foundation for Economic Stability During Pandemic

Industrial real estate equity partners started the pandemic in a bit of panic, as they saw similar omens to the economic fallout of 2007 / 2008; however, this time around it is quite a bit different, as logistic centers and warehouses are in demand to move the high quantity of products being purchased while people are spending more time at home. Read More 

Which Cities Will Be Most Prepared for Post-Pandemic Life?

Chicago Business Journal interviews urban theorist, Richard Florida, who discusses which characteristics of cities will prepare them for life post-pandemic. Read More

Chicago Commercial Real Estate News 2019 : 2020

Chicago CRE News – Q1 2020

The Effect of Covid-19 on Chicago’s CRE Market is Unknown, Regional Firms are Planning for Changes & Recovery

While unemployment numbers begin to skyrocket due to the current pandemic, commercial real estate firms are left looking at ways to redefine and prepare for the future. Read More

Chicago’s Industrial Real Estate Market is Strong in Q1 2020

RE Journals covers the latest quarter statistics in Chicago’s industrial real estate, shedding light to the unknown effects for the properties market in Q2 2020. Read More

Real Estate Investors Will Receive $170B in Relief from the Government’s Latest Bailout Package

The Real Deal covers the specifics of what to expect from the government’s bailout package in an attempt to keep the economy going during the current situation. Real estate investors stand to benefit from relief provided in the package. Read More

How Big Businesses are Implementing New Sanitation Plans for Their Commercial Real Estate Properties

One of the concerns that emerged more than ever from the current situation is sanitation, and making sure that business properties are well-maintained / cleaned thoroughly with new protocols. Read More

Homeland Security Deems Real Estate as an ‘Essential Business’

Real estate is defined as an “essential business” according to the Homeland Security Department, which creates some breathing room for real estate businesses around the country. Read More

Demand for New Industrial Real Estate Properties in Chicago Hits Highs

Chicago’s industrial real estate market and demand for new warehouse spaces / other newly built industrial properties was in high demand throughout 2019 and into early 2020. Read More

Chicago’s Industrial Real Estate Market Flying High with Many 1M SF Projects in the Works

A recap of the current Chicago industrial RE market and some of the major development projects underway around the entire region. Read More

Oaktree Capital JV Seals Deal for $265M Refi for Chicago Tower

JLL Capital markets arranged the loan for Oaktree Capital Management and GlenStar properties for the iconic Chicago Board of Trade Building, a 1.3-million-square-foot property in Chicago’s LaSalle Street Corridor. Read More 

Funding Commercial Real Estate Business During the Pandemic

RE Journals interviews Mag Mile Capital’s principal and CEO regarding the affect on the commercial real estate market in Chicago, and how possible deals will be made in the future for properties / assets. Read More

Real Estate Executive Council Names New CEO

Ken McIntyre, founder and managing principal of PassPort Real Estate LLC, has been appointed as the new interim chief executive officer of Real Estate Executive Council. Read More

Black Creek Increases Industrial Real Estate Footprint in Chicago

Black Creek acquired a 110+ square-foot Class A warehouse from IRC International Realty for $8.2 million. This is in addition to other industrial properties the company has purchased in the region recently. Read More

 

Chicago CRE News Roundup 2019

Rawly Lantz, SIOR Represents Buyer in Recent Lincolnshire Office Sale
Cawley Chicago Successfully Completes Another Sale in Elk Grove Village

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