https://www.bisnow.com/sitemap Bisnow Chicago News http://blogs.law.harvard.edu/tech/rss en-US Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/industrial/midwest-industrial-summit-131979 https://www.bisnow.com/chicago/news/industrial/midwest-industrial-summit-131979 Chicago-area industrial heated up in 2025 following a pair of years that couldn’t quite reach the meteoric highs of the pandemic era.  Investor competition for industrial properties, particularly shallow bay space, is on the rise, and leasing activity... ryan.wangman@bisnow.com Thu, 20 Nov 2025 10:09:27 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-132062 https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-132062 Draper and Kramer acquired Eleven33, a 12-story, 263-unit luxury rental community at 1133 South Blvd. in Oak Park, for an undisclosed price.  Completed in 2019, the luxury property is currently 95% leased and has averaged 94.4% occupancy since January... ryan.wangman@bisnow.com Tue, 25 Nov 2025 14:05:11 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/architecture-design/finishing-chicago-first-impressions-design-building-interiors-studiob-131702 https://www.bisnow.com/chicago/news/architecture-design/finishing-chicago-first-impressions-design-building-interiors-studiob-131702 Adding the “wow factor” to a new or existing commercial building’s interior needn’t require the use of costly materials such as marble or silk, but it also needs more than just a coat of paint. Instead, owners can use faux finishes — a method... elizabeth.reyn@bisnow.com Tue, 04 Nov 2025 12:34:29 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/office/joint-venture-lines-up-700m-refinancing-deal-for-wacker-drive-office-tower-132026 https://www.bisnow.com/chicago/news/office/joint-venture-lines-up-700m-refinancing-deal-for-wacker-drive-office-tower-132026 A joint venture of Oak Hill Advisors, Callahan Capital Partners and Affinius Capital is set to refinance its debt at the 57-story, 1.5M SF Bank of America Tower at 110 N. Wacker Drive in a $700M deal.  The loan proceeds will be used to refinance $556.1M... ryan.wangman@bisnow.com Mon, 24 Nov 2025 11:11:14 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/commercial-real-estate/world-business-chicago-has-a-lofty-growth-plan-for-2034-heres-what-it-means-for-cre-132016 https://www.bisnow.com/chicago/news/commercial-real-estate/world-business-chicago-has-a-lofty-growth-plan-for-2034-heres-what-it-means-for-cre-132016 World Business Chicago, the city’s economic development agency, released its ambitious strategy for Chicago’s economic goals over the next decade, targeting $1.4T in annual output. The sweeping 80-page report could serve as a road map for commercial... ryan.wangman@bisnow.com Fri, 21 Nov 2025 16:22:46 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131944 https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131944 Cresa is continuing its acquisition spree, scooping up data analytics firm Bluechip Insights and hiring Dave Sawdey as vice president to lead the expanding team.  Cresa said it has utilized Bluechip’s data for years, relying on its analytics to provide... ryan.wangman@bisnow.com Tue, 18 Nov 2025 14:37:33 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/office/report-hines-looking-to-purchase-former-boeing-chicago-hq-131926 https://www.bisnow.com/chicago/news/office/report-hines-looking-to-purchase-former-boeing-chicago-hq-131926 Hines is reportedly in discussions to buy the former Boeing headquarters along the Chicago River after Sterling Bay's deal for the office tower was scrapped.  ryan.wangman@bisnow.com Mon, 17 Nov 2025 11:54:56 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/office/menashe-properties-ceo-on-buying-2-chicago-offices-in-2-years-131912 https://www.bisnow.com/chicago/news/office/menashe-properties-ceo-on-buying-2-chicago-offices-in-2-years-131912 One of the earliest Chicago office investors this cycle is doubling down as the city’s office market creeps back to life.  Menashe Properties earlier this month scooped up 125 S. Wacker Drive, a 31-story, 640K SF Class-A office tower in the West Loop,... ryan.wangman@bisnow.com Fri, 14 Nov 2025 17:06:03 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/multifamily/how-ai-is-reshaping-chicago-multifamily-operations-131886 https://www.bisnow.com/chicago/news/multifamily/how-ai-is-reshaping-chicago-multifamily-operations-131886 Multifamily managers are increasingly doubling down on artificial intelligence platforms to attract younger tenants and expedite back-end processes.  Operators are hiring employees explicitly to vet new AI technology and are building out internal platforms... ryan.wangman@bisnow.com Thu, 13 Nov 2025 17:53:38 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/deal-sheet/zurich-inks-deal-at-the-willis-tower-the-chicago-deal-sheet-131836 https://www.bisnow.com/chicago/news/deal-sheet/zurich-inks-deal-at-the-willis-tower-the-chicago-deal-sheet-131836 Zurich North America is relocating its downtown Chicago office to Willis Tower from 300 S. Riverside Plaza. ryan.wangman@bisnow.com Tue, 11 Nov 2025 11:14:01 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/architecture-design/chicago-relatedmidwest-gistone-studiob-131404 https://www.bisnow.com/chicago/news/architecture-design/chicago-relatedmidwest-gistone-studiob-131404 When developer Related Midwest announced in 2024 that it had begun construction of the first of two long-awaited residential towers at the confluence of the Chicago River and Lake Michigan, Ann Thompson, executive vice president of architecture and design,... john.krukowski@bisnow.com Thu, 16 Oct 2025 14:47:57 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/multifamily/west-loop-apartment-tower-sells-for-151m-131814 https://www.bisnow.com/chicago/news/multifamily/west-loop-apartment-tower-sells-for-151m-131814 A fund affiliated with Hines paid $151M for the 37-story apartment tower at 300 N. Canal St. in the city's second-largest multifamily deal in 2025. ryan.wangman@bisnow.com Mon, 10 Nov 2025 13:41:01 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/multifamily/chicagos-multifamily-market-has-momentum-institutional-money-still-hasnt-fully-bought-in-131805 https://www.bisnow.com/chicago/news/multifamily/chicagos-multifamily-market-has-momentum-institutional-money-still-hasnt-fully-bought-in-131805 Despite steady rent growth, a deep pool of educated renters and one of the smallest construction pipelines in the country, Chicago’s multifamily market is being held back by one thing. Institutional capital needs to catch up. Local and private investors... ryan.wangman@bisnow.com Sun, 09 Nov 2025 12:24:08 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/commercial-real-estate/chicago-suburban-developers-lean-into-transit-oriented-projects-131786 https://www.bisnow.com/chicago/news/commercial-real-estate/chicago-suburban-developers-lean-into-transit-oriented-projects-131786 Transit-oriented developments are back in vogue, not only in Chicago’s transit-rich downtown but also in its surrounding suburbs.  Developers are targeting sites near the train and betting on the staying power of TODs, panelists said at Bisnow’s... ryan.wangman@bisnow.com Fri, 07 Nov 2025 14:51:27 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/industrial/industrial-chicago-mapletree-studiob-131261 https://www.bisnow.com/chicago/news/industrial/industrial-chicago-mapletree-studiob-131261 The Midwest’s industrial sector is stepping into the national spotlight, said Richard Prokup, U.S. CEO at Mapletree, a global real estate development, investment, capital and property management firm.  Since 2020, average asking rent rates in the sector... emily.lynch@bisnow.com Tue, 07 Oct 2025 11:54:07 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/office/chicagos-office-utilization-is-steadily-creeping-up-131726 https://www.bisnow.com/chicago/news/office/chicagos-office-utilization-is-steadily-creeping-up-131726 People are slowly making their way back to Chicago offices. As of September, Chicago’s central business district was 63.5% as busy as it was in September 2019, prepandemic, according to Avison Young’s Office Busyness Index — up from 59% in August... ryan.wangman@bisnow.com Wed, 05 Nov 2025 14:18:38 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131698 https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131698 Oregon investor Menashe Properties acquired 125 S. Wacker Drive, a 31-story, 640K SF Class-A office tower in the West Loop, for $51.5M.  Menashe Properties CEO Jordan Menashe said the company will take a simple approach to the property by building spec... ryan.wangman@bisnow.com Tue, 04 Nov 2025 11:05:34 -0500 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/healthcare/healthcare-construction-leopardo-studiob-131260 https://www.bisnow.com/chicago/news/healthcare/healthcare-construction-leopardo-studiob-131260 While some commercial construction sectors are slowing amid economic uncertainty, healthcare remains one of the most resilient. Nationwide spending on healthcare construction exceeded $69B in early 2025, up more than 2% from the previous year.   As... julia.troy@bisnow.com Tue, 07 Oct 2025 11:47:25 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/commercial-real-estate/illinois-legislature-passes-mass-transit-bill-131664 https://www.bisnow.com/chicago/news/commercial-real-estate/illinois-legislature-passes-mass-transit-bill-131664 The Illinois General Assembly approved a $1.5B mass transit bill in an overnight marathon legislative session, a win for transit-oriented developers and the Loop's burgeoning recovery. The expansive package, which will help the city's transit agencies... ryan.wangman@bisnow.com Fri, 31 Oct 2025 12:56:24 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/commercial-real-estate/chicago-loop-signs-of-life-emerge-office-conversions-leasing-hotel-131627 https://www.bisnow.com/chicago/news/commercial-real-estate/chicago-loop-signs-of-life-emerge-office-conversions-leasing-hotel-131627 The Loop is trending up, buoyed by major projects like the LaSalle Street office-to-residential conversions and the redevelopment of the James R. Thompson Center for Google.  The wave of adaptive reuse projects, surging hotel performance and early signs... ryan.wangman@bisnow.com Wed, 29 Oct 2025 15:31:52 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/national/news/property-management/experience-group-outsourcing-tenant-experience-cre-studiob-131502 https://www.bisnow.com/national/news/property-management/experience-group-outsourcing-tenant-experience-cre-studiob-131502 As commercial real estate firms face tighter margins, rising operating costs and evolving tenant expectations, “efficiency” has become the industry’s watchword. One strategy companies are turning to for both efficiency and agility is outsourcing... elizabeth.reyn@bisnow.com Thu, 23 Oct 2025 11:22:02 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131586 https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131586 Quarterra, the apartment development arm of national homebuilder Lennar, hired brokers to market the 27K SF site that was initially planned for a 25-story apartment tower at 410 S. Wabash Ave., Crain's Chicago Business first reported.  ryan.wangman@bisnow.com Tue, 28 Oct 2025 13:22:09 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/construction-development/foundry-park-jdl-post-event-131547 https://www.bisnow.com/chicago/news/construction-development/foundry-park-jdl-post-event-131547 Five months ago, Foundry Park wasn't even a twinkle in JDL Development CEO Jim Letchinger's eye.  The site, the northern portion of Sterling Bay’s former Lincoln Yards tract, was with the bank after that megadevelopment fell apart. Now it is... ryan.wangman@bisnow.com Fri, 24 Oct 2025 16:39:38 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131467 https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131467 McHugh Enterprises and First Investors LLC arranged a $92M refinancing agreement for the Hiltons at McCormick Place. Walker & Dunlop arranged the floating-rate, interest-only loan from Access Point Financial for the 23-story, 466-room hotel. ryan.wangman@bisnow.com Tue, 21 Oct 2025 15:09:45 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/national/news/industrial/epstein-protein-facilities-communities-studiob-130965 https://www.bisnow.com/national/news/industrial/epstein-protein-facilities-communities-studiob-130965 In June 2024, Perry, Iowa’s largest employer closed its doors after more than six decades of operation. As a result, 1,276 employees were left without work and Dallas County took tax losses. The city is set to soon be home to a meat processing facility,... elizabeth.reyn@bisnow.com Mon, 15 Sep 2025 14:30:57 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/office/135-s-lasalle-st-office-to-resi-conversion-131430 https://www.bisnow.com/chicago/news/office/135-s-lasalle-st-office-to-resi-conversion-131430 One of Chicago’s historic buildings is primed to join the growing ranks of aging office stock to be converted into modern residential units.  Riverside Investment & Development, AmTrust Realty Corp. and DL3 Realty have secured public funding to... ryan.wangman@bisnow.com Fri, 17 Oct 2025 16:49:57 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/capital-markets/ballys-planned-chicago-casino-at-heart-of-debt-battle-with-lenders-131398 https://www.bisnow.com/chicago/news/capital-markets/ballys-planned-chicago-casino-at-heart-of-debt-battle-with-lenders-131398 Bally's Corp. is facing pushback from its lenders as the gaming operator aims to amend a portion of a roughly $1.9B term loan with its under-construction Chicago casino as collateral.  A group of term lenders have joined a cooperation pact to block... ryan.wangman@bisnow.com Thu, 16 Oct 2025 11:52:26 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131367 https://www.bisnow.com/chicago/news/deal-sheet/the-chicago-deal-sheet-131367 Continental Properties broke ground on Springs at Aurora, a residential community featuring 320 garden-style apartments at the southwest corner of Orchard Road and Sullivan Road in Aurora. ryan.wangman@bisnow.com Tue, 14 Oct 2025 15:56:48 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/commercial-real-estate/cta-metra-transit-funding-gap-131349 https://www.bisnow.com/chicago/news/commercial-real-estate/cta-metra-transit-funding-gap-131349 The doors are closing on the opportunity for the Illinois Legislature to find hundreds of millions in funding for the Chicago area’s mass transit system before it goes off the rails.  The table is set for a critical legislative session in Springfield... ryan.wangman@bisnow.com Mon, 13 Oct 2025 17:09:42 -0400 Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) Bisnow (https://www.bisnow.com) https://www.bisnow.com/chicago/news/retail/chicago-retail-magnificent-mile-131329 https://www.bisnow.com/chicago/news/retail/chicago-retail-magnificent-mile-131329 It’s the early weeks of the crucial holiday season for retailers in 2025. Though Chicago’s revitalized retail scene may anchor hopes on big consumer spending to back its real estate decisions, it may be more likely to find coal in its stocking this... ryan.wangman@bisnow.com Fri, 10 Oct 2025 15:07:41 -0400