Emma Whalen

Illinois

Reporter, The Real Deal Chicago at The Real Deal

Reporter covering commercial real estate/development for @trdchicago

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Articles

Squatters, move-in fees, garage apartments: Illinois bills Real Estate is watching

6 days ago | therealdeal.com | Emma Whalen

As the Illinois General Assembly’s session comes to a close later this month, at least 10 real estate-related bills are moving toward the finish line. Some are closer to passing than others, but most have sparked conversation about which regulations will help or hurt the industry. Catch up on what Illinois lawmakers have in store for the industry with this quick rundown*indicates the bill has been passed by one chamber of the legislature.
Commercial property tax appeals cost Cook County homeowners $2B

1 week ago | therealdeal.com | Emma Whalen

Property tax appeals among commercial owners in Cook County shifted $2 billion to homeowners’ tax bills over the past assessment cycle, a new study from Cook County Treasurer Maria Pappas shows. Illinois requires local government bodies such as city councils and school districts to set their budgets before property values are assessed.
Chicago’s Stuart Handler Lists Hyde Park, Lakeview Apartments

1 week ago | therealdeal.com | Emma Whalen

Prolific Chicago investor Stuart Handler is looking to offload five multifamily properties on Chicago’s North and South Sides. The listings are the latest in a string of big moves by the well-known real estate player, who is the namesake behind the University of Illinois at Chicago’s Handler Department of Real Estate.
Group RMC treading water as higher ed firm Follett scales back office space

1 week ago | therealdeal.com | Emma Whalen

Group RMC’s creditors are expressing concern over several of its suburban Chicago office holdings on the heels of a key tenant’s big lease cutback, dimming the outlook for the New York-based landlord’s string of real estate purchases made before and during the pandemic.
Chicago's Magnificent Mile Is Finally Recovering

1 week ago | therealdeal.com | Emma Whalen

Were they car-sized jelly beans? Early Easter eggs delivered by a giant bunny? Or colorful versions of Chicago’s famous silver statue? The buoyant orbs bobbing up and down the Chicago River on April 1 turned out to represent J.K. Rowling’s Every Flavor Beans, a gimmick meant to draw attention to the new Chicago outpost of the Harry Potter Shop, which was set to open at 676 North Michigan Avenue in the city’s historic shopping district just north of The Loop.
Chicago Developer Marty Paris Gives up River North Apartments

2 weeks ago | therealdeal.com | Emma Whalen

Developer Marty Paris has given up the apartment building "The Rhone" at 146 West Erie Street in Chicago. Paris signed a deed-in-lieu of foreclosure with Republic Bank of Chicago. This action follows claims that Paris was behind on a $36 million loan for the property. See a mistake? Marty Paris is letting go of a River North apartment building he developed.
United Center redevelopment could re-ignite an old turf war

2 weeks ago | therealdeal.com | Emma Whalen

If the United Center’s upcoming $7 billion redevelopment lives up to the hype, it will transform the hockey and basketball arena’s surrounding sea of parking lots into a vibrant mixed-use district and spur growth in the neighborhoods it borders. But even as the decade-long megaproject prepares to break ground this summer, one area north of the sports complex could remain virtually untouched if industrial landlords maintain their influence at City Hall.
Grove Biopharma Bulks Up at Trammell Crow’s Fulton Labs

2 weeks ago | therealdeal.com | Emma Whalen

Trammell Crow is reaping the benefits of a biopharma company’s success as it expands to a new 17,000 square foot space within the developer’s biosciences office, Fulton Labs. Grove Biopharma started out sharing space with an incubator for life sciences firm known as Portal Innovations, which occupies the full 10th floor of Trammell Crow’s Fulton Market building at 400 North Aberdeen Street.
Stuart Handler Buys Suburban Chicago Apartments for $60 Million

3 weeks ago | therealdeal.com | Emma Whalen

Wingspan Development sold the Maple Street Lofts, a 192-unit property in Mount Prospect, a Chicago suburb, for $60 million to TLC Management's Stuart Handler. Stuart Handler is a prominent figure in Chicago's commercial real estate; the real estate department at the University of Illinois at Chicago is named after him.
Brennan Secures Refinancing for Chicago O’Hare Industrial

3 weeks ago | therealdeal.com | Emma Whalen

Industrial specialists Brennan Investment Group doubled down on an asset near O’Hare International Airport earlier this month by securing a $63 million refinancing for the property from MetLife. It’s unclear if Brennan’s initial partner, Investcorp, remains involved with the property after the recent refinancing. An $83 million deed recorded along with the $63 million mortgage lists Brennan as the property’s owner, signaling the firm may have bought out its partner.