CHICAGO-The School of the Art Institute takes the entire 12th floor across the street from its administrative address for extra office space and room to house the architecture and designed objects departments.

CHICAGO-The largest US office REIT cuts its dividend 34% to $1.32 per share, expecting lower taxable income in 2006. At the same time, company trustees approve adding $500 million to its share buyback program.

CHICAGO-Pat Terrell is on the development team for the $75.5-million Renaissance at Beverly Ridge at I-57 and 107th Street. There, 20% of the 233 single-family, townhouse and condominium units will be earmarked for buyers earning less than the area median income.

CHICAGO-Pat Terrell is on the development team for the $75.5-million Renaissance at Beverly Ridge at I-57 and 107th Street. There, 20% of the 233 single-family, townhouse and condominium units will be earmarked for buyers earning less than the area median income.

BENSENVILLE, IL-MRT Sureway, Inc. pays $42 per sf for 759 Industrial Dr., giving CenterPoint Properties Trust a gain of more than $500,000 in less than six months. Nearby, MRT Sureway, Inc. grabs 2939-59 Hart Dr. in Franklin Park for $39 per sf.

BATAVIA, IL-The aluminum company stays at 101-21 Raddant Rd., which Liberty Property Trust acquired in 2003. It is one of five buildings totaling 830,000 sf in the Batavia Industrial Center owned by the Malvern, PA-based REIT.

BATAVIA, IL-The aluminum company stays at 101-21 Raddant Rd., which Liberty Property Trust acquired in 2003. It is one of five buildings totaling 830,000 sf in the Batavia Industrial Center owned by the Malvern, PA-based REIT.

CHICAGO-A development group that includes the Davis Group and Magellan Development Services plans 210 single-family, townhouse and condominium units on city-owned land near 63rd Street and Woodlawn Avenue. The $74.3-million plan is the second phase following a 31-unit start.