Chicago Area News

Piedmont Strikes Deals to Sell 14 Office Buildings to Pair of Undisclosed Buyers

Piedmont Pointe II in Bethesda, MDAs part of its ongoing strategy to focus on owning Class A office properties in select submarkets primarily within eight major Eastern U.S. office markets, Piedmont Office Realty Trust (NYSE:PDM) said it is in the process of selling 14 office buildings across the country to two different buyers for a total minimum gross sales price of approximately $425.9 million. The properties total 2.6 million square feet and...
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Posted: November 22, 2017, 12:49 pm

Combined Insurance Renews 104,000-SF Lease at 111 E. Wacker

Combined Insurance Company of America, a provider of individual accident, disability, health and life insurance, has finalized an early renewal with Amtrust Realty Corp. for its 103,629-square-foot space within One Illinois Center in Chicago's Central Loop. The company, which relocated its downtown offices from the North Side to the 1.2 million-square-foot, 32-story 111 E. Wacker Dr. building in 2010, signed a long-term extension for its three...
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Posted: November 20, 2017, 10:59 am

TGM Completes Largest Multifamily Sale in Suburban Chicago Since 2014

TGM closed on the largest single multifamily sale in suburban Chicago in three years with the purchase of the 600-unit Crossings at Danada in Wheaton, IL from Atlanta-based independent investment management company, Invesco (NYSE: IVZ). A fully integrated group of companies that solely focuses on multifamily investments, New York City-based TGM paid a reported $111 million, or approximately $185,000 per unit, to acquire the garden-style apartment...
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Posted: November 14, 2017, 9:40 am

Hines-Led Venture Plans New 270,000-SF Office Project on Goose Island

Houston-based international real estate firm Hines will partner with Chicago firms Diversified Real Estate Capital and Big Bay Realty to develop a new six-story, 270,000-square-foot office project on Chicago's Goose Island, a longtime industrial and manufacturing hub being repositioned as a marketable office destination. In July, the City Council approved the North Branch Framework, a land-use plan for 760 acres along the Chicago River between...
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Posted: November 13, 2017, 5:07 am

CenterPoint to Develop Additional 560,000 SF of Spec Space in Franklin Park

CenterPoint Properties has disclosed plans to develop two new speculative warehouse facilities totaling roughly 560,000 square feet within the company's CenterPoint Logistics Center - O'Hare industrial park in Franklin Park, IL. Located on a 33-acre site along Seymour Ave. directly across from O'Hare International Airport, the 225,891-square-foot CenterPoint O’Hare 1 facility will feature a 32-foot clear height, 50 exterior docks and parking for...
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Posted: November 9, 2017, 8:40 am