CHICAGO-The plan commission punches CMC Heartland Partners III, LLC's ticket for a 1,694-unit residential development with more than 50,000 sf of retail space, including a Jewel food store to serve a booming neighborhood northwest of the Loop and commuter rail terminals.

BOLINGBROOK, IL-The building, which is expected to be delivered early in the second quarter, is the first of three on the 21.5-acre site. Plans call for 240,650-sf warehouse and 177,320-sf facility as well.

CHICAGO-A 69,016-sf lease with Clear Channel Communications, along with a 34,500-sf less in the final stages of negotiations, will leave 25% of the sublease space Jackson, MS-based Parkway Properties, Inc. inherited in the $173.5-million purchase from Tishman-Speyer.

OAK BROOK, IL-CenterPoint Properties Trust has several build-to-suit projects underway at development sites around the city and suburbs, with work on most of them aided by an unseasonably mild winter.

CHICAGO-While REITs focus on portfolio management this year, the industry should still produce double-digit total returns, according to a report from LaSalle Investment Management, Inc. The 6.5% dividend yield comes from a historic-low payout of 65%, the firm notes.

NORTHLAKE, IL-Indianapolis-based Duke Realty Corp. embarks on a 385,000-sf redevelopment of International Paper's former property here as well as a speculative 305,094-sf distribution warehouse facility in Carol Stream.

MARYLAND HEIGHTS, MO-The Columbia, Md.-based provider of employee assistance programs and managed behavioral health care will take 268,000 sf in two buildings at TRiSTAR Business Communities' Riverport Commons office development in this St. Louis suburb.

MILWAUKEE, WI-Rents will rise by 1.5%, while vacancies will rise slightly throughout the entire market, Marcus & Millichap Real Estate Investment Brokerage Co. predicts. That likely won't attract institutional investors.