Ryan Wangman

2 days ago | bisnow.com | Ryan Wangman

President Donald Trump’s latest round of steel and aluminum tariffs took effect Wednesday, doubling the tax on imported metals from 25% to 50% and throwing a fresh dose of uncertainty into investment decisions as well as already teetering construction projects. Trump announced the latest move Friday while visiting a U.S. Steel plant outside Pittsburgh, giving the property industry little time to prepare.

2 days ago | bisnow.com | Ryan Wangman

The Chicago Blackhawks unveiled new renderings for its expansion of Fifth Third Arena, the team’s training facility, as Chicago's fast-moving sports venue saga gets a new chapter. Rendering of Championship Arena at Fifth Third ArenaWith the 135K SF expansion, the Blackhawks are adding two new rinks to the facility, a permanent home for the team's Hall of Fame, a bar, lounges and a patio. The team estimates that the expanded arena will welcome more than a million and half guests per year.

3 days ago | bisnow.com | Ryan Wangman

A venture of Northbrook investor Parag Patel paid $23.7M for the 178-room Hilton Garden Inn at 1818 Maple Ave. in Evanston as Northwestern University continues work on its new Ryan Field. Patel bought the six-story building a couple of blocks west of the Northwestern campus from an affiliate of Magna Hospitality Group, according to Crain's Chicago Business. The deal is the fourth suburban Chicago hotel Patel has purchased in the past two years.

3 days ago | bisnow.com | Ryan Wangman

Billionaire Chicago Fire owner Joe Mansueto will spend $650M of his personal fortune to build a new stadium for his Major League Soccer team at the site of The 78 megadevelopment. The 22,000-seat stadium will serve as a long-awaited anchor for Related Midwest's megadevelopment and be privately financed by Mansueto, the founder of the financial data firm Morningstar. Construction is expected to begin by the end of 2025, with the new stadium set to open in spring 2028.

1 week ago | bisnow.com | Ryan Wangman

Chicago’s typically reliable big-box industrial market suffered its first setback in eight years last quarter, with net absorption turning negative as vacated older warehouses hit the market and expansion stalled. The city's big-box spaces, defined as modern distribution facilities 200K SF and larger with clear heights of at least 28 feet, saw vacancy spike in the first quarter.