The lack of class A apartment product is one factor influencing the multifamily market. "The worst property is at 98% occupancy," said Jim Loewenberg, co-CEO, Magellan Development during a panel discussion at the fourth annual RealShare Chicago. Matthew Lawton, senior managing director, Holliday Fenoglio Fowler explained that condo conversions have slowed down. "Multifamily owners have been capitalizing on the sales to convert, especially within the investor pool." Nearly 400 industry insiders attended the conference, which…
ITASCA, IL-Kester, a supplier of interconnecting materials for the electronic assembly markets, is relocating its global headquarters in September to a 63,800-sf building.
BOLINGBROOK, IL-More demand in this market triggers the development of a second building at Veterans Corporate Center. The facility, which totals 189,134 sf, will offer four units for either sale or lease.
CHICAGO-IL-The Dance and Theater School of Columbia College is expanding and relocating nearby to 1122 S. Wabash. The school will take the entire second floor of the building.
PLYMOUTH, IN-A specialty real estate firm based in New York acquires a 300,000-sf distribution facility located equidistant between Chicago and Indianapolis.
BOLINGBROOK, IL-TCB Development acquires this 21-acre business park with plans to develop a combination of industrial condominium units for sale or lease.
CHICAGO-Marketing Werks stays put at 111 E. Wacker with a second renewal and an expansion. With top floor space, the office overlooks Michigan Avenue and the East Loop.