Chicago Commercial Real Estate News Roundup 2019

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 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 Accentur 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 

Frank Melchert represents tenant at Duke Realty’s spec building in Glendale Heights
Cawley Principal Joshua Hearne Moderates Annual Transportation & Logistics Conference

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