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CHICAGO-A developer and an alderman involved in redevelopments in two separate areas of this city don't see why mixed-income communities couldn't work. However, each suggest creative approaches for city and state officials.
CHICAGO-Performics, which provides pay-for-performance online customer acquisition and retention marketing, moves from 500 N. Michigan Ave. to 180 N. LaSalle St., where it is leasing 20,344 sf.
NORTHBROOK, IL-Single-story office buildings in Rockford, IL and Jacksonville, IL, net-leased to Blue Cross Blue Shield of Illinois, are sold by CRICHC Trust to Creative Investments LLC at an average of $116 per sf.
CHICAGO- Although vacancy rates are up in most city and suburban office markets along with a flattening of rental rates, Equity Office Properties Trust reports first-quarter funds from operations were up 13%.
CUDAHY, WI-Freehold, NJ-based Monmouth Real Estate Investment Corp. buys a 114,123-sf industrial building in this Milwaukee suburb. The building is net-leased to FedEx Ground Package System, Inc. for 10 years.
McCOOK, IL-The fourth facility to be built in the CenterPoint Business Center -- McCook is 34% pre-leased with commercial printing company Quebecor World, Inc. taking 153,000 sf. The first three buildings are 100% occupied.
CHICAGO-The Blake-Lamb Funeral Home building at 1035 N. Dearborn St. is sold to JDL Development, which plans to build 23 condominiums on the Near North site.
JOLIET, IL-The TIAA Real Estate Account has purchased the Mack Truck building in the Rock Run Business Park for $10.15 million. The 248,014-sf building is leased to Mack Truck, Inc. at $3.33 psf.
CHICAGO-Better commission splits and signing bonuses may lure top brokers from one office to another, but a "wholesale migration" of brokers has not been seen so far. Money sometimes isn't everything, local experts add.
NORTHBROOK, IL-After searching for nearly a year, the commercial real estate giant has a president and chief executive officer in Barry M. Barovick, who leaves Ernst & Young's real estate advisory services group.