Emma Whalen

1 week ago | therealdeal.com | Emma Whalen

It’s a billion dollar question: what is the Willis Tower really worth? In the past few months alone, public and private appraisers have produced values ranging from $999 million to $1.4 billion. While pinning down a commercial asset’s value has never been an exact science, it has only gotten more challenging since the pandemic hammered the office market.

1 week ago | therealdeal.com | Emma Whalen

The American Bar Association and the law offices of Goldberg Kohn are each throwing big chunks of office space onto the downtown Chicago sublease market, extending the downsizing trend among tenants that has eaten into landlords’ revenues. Each tenant is seeking new takers for about 75,000 square feet, with American Bar Association cutting back at 321 North Clark Street and Goldberg Kohn shedding space at 55 East Monroe Street.

2 weeks ago | therealdeal.com | Emma Whalen

NorthPoint Development’s recent $270 million investment in Elgin is one of the biggest industrial real estate purchases in the Chicago area so far this year. The Kansas City-based firm bought a portfolio of about a dozen warehouses spanning 2.8 million square feet in the northwest Chicago suburb, paying about $96 per square foot, public records show. Massachusetts-based seller High Street Logistics cashed in on an upswing in the region’s industrial market with the sale.

2 weeks ago | therealdeal.com | Emma Whalen

SR Jacobson is hoping to cash in on Chicagoland’s hot suburban multifamily market. The developer last week listed the Orland Ridge Towhomes and Villas in Orland Park with JLL. SR Jacbson, along with Lormax Stern, developed the community which consists of 294 townhomes and ranch-style rental homes as well as a community center with a pool. Construction on the project was completed in 2023.

2 weeks ago | therealdeal.com | Emma Whalen

The developers behind a proposed apartment building in the near south side’s Motor Row neighborhood are seeking new investors or an exit plan. A venture led by Fern Hill Company listed 2328 South Michigan Avenue. CBRE marketing materials promote the property as a joint venture opportunity or a shovel-ready site for a buyer with approvals for up to 256 multifamily units. The listing also notes the development site is located within a federally designated Opportunity Zone.