Chicago

CHICAGO-The owner of the 11-story building at 664 N. Michigan Ave. already is talking with city officials about fixing a deteriorating fagade on the upper floors of 664 N. Michigan Ave.

CHICAGO-Developers of a proposed 24-unit building at Madison Street and Homan Avenue line up $1.6 million in no-interest, 32-year mortgage financing in addition to historic rehab and low-interest housing tax credits.

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.

SCHAUMBURG, IL-Three recent deals include Computer Strategy Coordinators, Inc.'s renewal of 25,222 sf at Two Woodfield Lake, where space is offered at $23 per sf gross. Also, Stewart Title renews a 4,000-sf lease at 1515 E. Woodfield Rd.

CHICAGO-Not only does the Downtown condominium market force Heartland Properties to make Phase II of Kinzie Station a rental property, it also decimates the REIT's third-quarter net profit as sales of units stall.

CHICAGO-Property owners are beginning to offer better concession packages that include more generous tenant improvement allowances and even some rental abatement in order to remain competitive in the market.