WEST CHICAGO, IL-CenterPoint Properties Trust will build 5 million sf of industrial and commercial buildings on 413 acres near the state's third-busiest airport and the Fermi lab. NASA and the US Department of Defense are likely early tenants.
OAK BROOK, IL-The largest industrial property owner in the market will increase its portfolio to 40 million sf with eight properties totaling three million sf, most of it institutional quality.
ARLINGTON HEIGHTS, IL-Revenue per available room drops 2.5% last month compared to November 2003 for Arlington Hospitality, Inc., which has most of its properties in the Midwest US. Meanwhile, it is appealing The Nasdaq Stock Market's move to de-list Arlington Hospitality common stock.
CHICAGO-Residential developer Robert King will build 49 townhouses, two-flat units and single-family homes on city-owned land in the 8900 block of S. Loomis Avenue, which his Carroll Properties is paying $819,147.
CHICAGO-Jameson Development LLC's $37-million building along the Green Line elevated tracks will add 198 one-bedroom and one-bedroom-plus-den units to the Downtown condominium market in early 2006.
CHICAGO-In addition to tax increment financing, the city is writing down the cost of its land in the 3200 block of W. Division Street by more than $2 million to allow Bickerdike Redevelopment Corp. to build 57 affordable multifamily rental units and 12,585 sf of retail space
BLOOMINGDALE, IL-MAXRAD Products Group pays value-added specialists Evergreen Realty Partners $64 per sf for the office, warehouse and manufacturing building at 471 Brighton Dr. in the Covington Business Center.
NEW LENOX, IL-Finding nothing suitable in the Joliet and Mokena areas, Moulding & Millwork signs a 204,436-sf build-to-suit deal in the Cherry Hill Business Park.
OAK BROOK, IL-Having already paid nearly $200 million for office properties in Schaumburg and North Carolina, Inland Western Retail Real Estate Trust closes on $300 million more in office deals with another $90 million on the way. The recent deals are sale-leasebacks with American Express.
OAK BROOK, IL-Chatham Ridge on Chicago's South Side, Marketplace at Six Corners on the Northwest Side, Cobbler Crossing in Elgin, Shoppes of Mill Creek in Palos Park and Woodfield Commons in Schaumburg have a combined net equity of $56 million, says Inland Real Estate Corp., which will add three more.