CHICAGO-Mitsui Sumitomo Insurance has secured $56 million in financing for the River East Center I project, which was signed over to the company after MCL Cos. defaulted on a $300 million construction loan reinsured against default by Mitsui.
HOMEWOOD, IL-Leona's has snatched up the site of Surma's, a venerable eatery in this south suburban town, in an continuing effort to expand its presence in the Chicagoland area.
NEW LENOX, IL-Michaels Stores gained unanimous approval for its five-year, 50% tax abatement to build a 700,000-sf distribution center in southwest suburban New Lenox, dangling the promise of 250 jobs and a $6 million payroll at the site.
BOLINGBROOK, IL-Without a single tenant or buyer, Corum Real Estate Group has broken ground on a 702,000-sf industrial building, within its new 86-acre Crossroads Lake Business Park, hoping to land a single user by completion in June.
CHICAGO-The Shiloh Baptist Church on the South Side of Chicago has been bought - but not by one of the usual real estate suspects. The new owner will convert it into a residence, but promises to "respect the architecture.
