
Rachel Herzog
Commercial Real Estate Reporter at Crain's Chicago Business
Reporter covering commercial real estate for @crainschicago / [email protected]
Articles
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2 days ago |
chicagobusiness.com | Rachel Herzog
Four years after completing an apartment building in one of Chicago’s hottest downtown neighborhoods, a local developer sees an opportunity to cash out of the supply-constrained market. Tandem has hired brokers at CBRE to seek a buyer for Avra West Loop, a 20-story, 198-unit property at 1125 W. Van Buren St. that the firm built in 2021.
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3 days ago |
chicagobusiness.com | Rachel Herzog
A local developer plans to turn a vacant office building in River North into about 90 apartments, another midsize addition to the pipeline of office-to-residential projects planned for downtown Chicago. A joint venture of Honore Properties and Peerless Development has acquired the development site at 50 E. Superior St., which holds an empty seven-story building, according to Cook County property records and Honore founder Michael Shenouda.
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3 days ago |
chicagobusiness.com | Rachel Herzog
A Chicago developer has landed financing for a project to transform a long-fallow downtown Winnetka site with luxury rentals and retail. The team behind One Winnetka, a joint venture of Murphy Development Group and Harrison Street CEO Christopher Merrill, has closed on a construction loan from ACRES Capital for the development, which will include 59 luxury apartments and more than 20,000 square feet of retail space, according to an announcement.
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4 days ago |
chicagobusiness.com | Rachel Herzog
Another residential conversion is on tap for unused workspace in downtown Chicago, with a local development team announcing plans to convert the upper stories of Salesforce’s former office to apartments. A joint venture between Path Construction and WindWave Real Estate said it has acquired floors five through 10 of 111 W. Illinois St., which it plans to turn into 153 apartments.
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4 days ago |
chicagobusiness.com | Rachel Herzog
A California lender is looking to offload a vacant State Street retail property at a discounted price that reflects the corridor’s struggles but sets it up for a possible redevelopment play. California-based commercial real estate lender Calmwater Capital has hired brokerage SVN Chicago Commercial to seek a buyer for the eight-story, 112,495-square-foot retail and office building at 213-227 S. State St., according to a brochure.
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