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CHICAGO-The city gets an edge over suburban office space, but increasingly cost-conscious and trigger-shy corporate decision makers are frustrating brokers working in both markets here as more sublease space becomes available.
OAK BROOK, IL-Great Lakes REIT posts a 7.7% increase in first-quarter funds from operations in spite of three vacancy-plagued properties. The office buildings are in the East-West Corridor, north suburbs and northwest Milwaukee.
BOLINGBROOK, IL-Learning Curve International will move into a 325,057-sf industrial building at 800 S. Naperville Rd., now owned by a White Plains, NY-based investor who paid nearly $25 million for the Remington Lakes Business Park.
ROSEMONT, IL-Lease deals for 68,629 sf are signed in the 14-building AMB O'Hare Center at Balmoral and Pearl streets. The deals are completed by Trammell Crow Co. vice president Thomas P. Wagener, SIOR, CCIM.
DENVER and ARLINGTON, VA-Archstone Communities and Charles E. Smith Residential Realty form the second-largest apartment REIT in the US and fourth-largest overall pending shareholder approvals. Both focus on high-barriers-to-entry markets.
CHICAGO-Mark Goodman & Associates Inc.'s new 18-story office tower in the West Loop has lagged behind most other Downtown office developments despite offering Class A amenities and a location convenient to commuter rail stations.
CHICAGO-Failure to keep his Rogers Park apartment house in order, as well as make court-ordered repairs, lands six-flat owner Marek Galen in jail. City officials say the building was a haven for gangs and drug users.
CHICAGO-Transwestern Commercial Services did $2 billion in property sales and financings but gets stronger by picking up financial advisory firm Julian, Toft & Downey, Inc., involved in a multitude of high-profile lending deals.
NILES, IL-The REIT and financially troubled promotional products company HALO Industries are discussing restructuring the $6-million-a-year lease on a recently-built 267,344-sf office building at 5800 W. Touhy Ave.
CHICAGO-The largest public apartment REIT in the US would like to add another property in this market but has been stymied in part by high prices commanded in the desirable Northwest suburban submarket.