Chicago Commercial Real Estate News Roundup – Q1 2020

Cawley Chicago Commercial Real Estate News 2019

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

Chicago CRE News – Q1 2020

Q1 2020 CRE 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.

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 Commercial Real Estate News 2019 : 2020

Chicago Commercial Real Estate News Q4 2019

Q4 2019 CRE news highlights include: upbeat projections / outlooks for 2020, the top sales & development projects around the region, up-and-coming neighborhoods, and a full run down of top stories that emerged throughout the year.

Chicago is the #1 Medical Office Market in the United States

Chicago’s medical office real estate market saw 915,000 SF of net absorption in the year up until the end of the 2nd quarter in 2019. The second largest medical real estate market was Atlanta’s with a total of 557K SF absorption. Chicago’s medical office market is starting to become a hot sector. Read More

Top-5 Sales in Chicago Industrial Real Estate 2019

The Real Deal put together a list of the Top-5 industrial real estate sales in Chicago along with descriptions of the deals. Many of the major deals this year were fueled by the continuing growth of e-commerce and demand for warehouses / distribution centers in the region. Read More

Chicago’s Commercial Real Estate Outlook for 2020 Upbeat

Despite political concerns revolving around a changing of the guard in the Chicago Mayor’s Office in 2019, the city stayed on a positive path. Experts are predicting a solid upcoming year due to various uplifting factors for businesses in the region and ultimately the CRE market. Read More

CRE Expert Interview: 2020 Commercial Real Estate Forecast

RE Journals interviews Lori Healy from Clayco regarding the upcoming year for Chicago’s commercial real estate market. She also covers the trending topic of the influence public-private partnerships have in business. Read More

Chicago Real Estate Top Stories for 2019

Chicago real estate was full of interesting headlines throughout 2019, including: FBI investigations, the rise of Fulton Market, and the latest scoop on Trump Tower. The Real Deal provides a rundown of the most eye-catching stories last year. Read More

Fulton Market’s Rise in Popularity Shown in Chicago’s Biggest Real Estate Projects 2019

In the Top-5 biggest projects filed last year, 2 are in Fulton Market. This highlights the area’s growing popularity as an up-and-coming spot for investing and development. Read More 

KORE Investments Buys Chicago Office Tower for $129M

KORE Investments acquired the Class A property located in Downers Grove, Illinois for $128.5 million. The building is 583K square feet, and the seller was represented by JLL’s Capital Markets team. Read More

The West Loop Continues Rise as a Prized Submarket for Chicago’s Commercial Real Estate

The West Loop inked several deals with companies bringing vacancy rates down, meanwhile rental rates continued to rise in Q3 2019. These deals along with many new developments prove to be a solid bet for investors in the area. Read More

Cannabis Legalization Leads to Shifts in Chicago’s Industrial Commercial Real Estate

The legalization of marijuana in Illinois is creating opportunities for those getting into the business. This is particularly influencing the industrial CRE market, as demand for warehouses and other facilities is growing rapidly. Read More

Chicago Staple, Portillo’s, Set to Open New Location Near Disney World

Orlando, Florida will be home to Chicago’s iconic restaurant, Portillo’s. Their classic Chicago-style hot dogs, and other offerings will be served near one of the world’s most famous theme parks. Read More

Chicago Commercial Real Estate News Q3 2019

Chicago Set to Invest in Life Sciences & Narrow Life Expectancy Gap

Public figures and private constituents in Chicago’s commercial real estate sector are putting their efforts together to bolster new life sciences investments and research in the city. The plan will not only further stimulate CRE developments, but also intends to provide enhanced healthcare for Chicagoans over the coming years. Read More 

Chicago Industrial Real Estate Reaches 19-Year Low

Industrial real estate in Chicago is continuing to thrive according to the most recent data in Q3 2019. This is seen by the steadily declining vacancy rates, which averaged 4.9% during the recent quarter. This great news is a sign that the commercial real estate industry in Chicago is maintaining a steady footing despite economic and geopolitical issues arising throughout the globe. Read More

Amazon Will Increase Presence in Chicago’s Loop with New Development & Jobs

Amazon will double its Chicago tech workforce with the new addition to its current holdings in the city. The office will add 70K square feet and 400 new job opportunities for tech savvy citizens. The retail giant has been in Chicago since 2016 and has already expanded its presence once in 2017. They also currently have over 11,000 full-time employees in Illinois alone. Read More

Chicago Industrial Real Estate Report: I-80 Corridor

The 1-80 corridor saw a net absorption of 1.50 million square feet during Q1 & Q2 2019; although, the majority (1.3 million square feet) occurred during Q1. Additionally, vacancy rates rose to 11.2% in Q2 versus 10.4% in Q1, which leaves experts wondering if there is a possible downturn on the horizon. Read More

German Aerospace Manufacturer, Broetje-Automation, Elects Elk Grove for USA Headquarters

Broetje-Automation is set to move into a 43,000 square foot location in Elk Grove Village’s Technology Park. The German aerospace and aviation manufacturer has chosen this spot as its headquarters in the United States, expanding its presence and reach across the pond. Read More 

University of Illinois at Chicago Finishes Construction on $100M New Academic / Research Complex

University of Illinois at Chicago adds an Academic, Research and Residential complex for its students and community. The expansion project what primarily financed via a tax-exempt bond issuance with the Collegiate Housing Foundation, a nonprofit 501(c)(3) organization. Read More 

Tax Incentives Fuel “Optimism” for Chicago’s Data Center Real Estate Market

Chicago is currently the 4th largest market in the nation for data centers; however, it is in the middle of the pack in terms of vacancy rates. New legislation incentivizing those investing in data center real estate fueled some optimism for the market’s conditions in the near future. Read More 

Industrious Expands Footprint in Chicago with Lease of 93K+ Space in Accenture Tower

Industrious is set to further expand its presence in Chicago with the new lease. It will occupy over 93,000 square feet in the Accenture Tower, the well known 40-story high-rise in downtown Chicago that is currently owned and operated by KBS. Industrious currently has seven other offices in Chicago, and over 80 across the nation. Read More 

Two South Loop Hotels Approved for Refinance of $147M

The Best Western Grant Park Hotel and Homewood Suites by Hilton Chicago, totaling 405 rooms altogether, have been approved for a combined refinance of $147 million. This is a symptom of the strong hotel market in Chicago currently. Read More 

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Chicago Commercial Real Estate News Roundup – Q1 2020

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