Development

Construction on the $714-million project is expected to begin in 2022. The new pavilion that will total 438,000 square feet of usable space, will feature nine floors of cutting-edge technology and a design to provide patients and families with world-class acute care.

The $253-million Arthaus condo tower will feature 108 units, more than 36,000 square feet of amenities, including a rooftop greenhouse, and more than 4,200 square feet of ground floor retail.

The newly developed property was sold by AC Packer West, which was represented in the transaction by CBRE's Joe Ayers, Cliff Taylor and Shelton Granade. The deal calculated out to $211,333 per unit.

In the Second Annual Chicago Mid-Year CRE Sentiment Report produced by The Real Estate Center at DePaul University, approximately 52% of participants—down sharply from 69.8% a year ago—characterize the Chicago real estate market for the first half of 2019 as consistently strong.

Los Angeles is seeing a surplus in high-end homes on the market following an increase in development.

LMC's 18-story high-rise build Radiant will begin moving in residents at the end of the month.