CHICAGO-The Hard Rock Cafe is reportedly looking at opening a hotel on the south edge of Michigan Avenue's Magnificent Mile. The project would reportedly involve redeveloping the landmark Carbide & Carbon Building at a cost of $80 million.

CHICAGO-Real estate services firm Insignia/ESG hires Sven Sykes away from US Equities.

HOFFMAN ESTATES, IL-A 33,000-sf retail center has been sold to a local private investor.

CHICAGO-Huge Illinois Center development will be the largest mixed-use project in the nation, developers say. A preliminary plan for development of the entire 83-acre Illinois Center parcel will be presented tonight.

CHICAGO-Developer says he expects a TIF of between $10 million and $12 million for the redevelopment of the Artmark Building at 1840 North Clybourn. The 380,000-sf, $70 million redevelopment will be more than half reserved for telecom hotel use.

CHICAGO- Real estate titan continues to predict massive consolidation for the real estate industry, saying the upcoming changes will be akin to the "oligopolization" of steel and autos early last century. Zell says the two REITs he launched and in which he remains the largest shareholder, Equity Office REIT and Equity Residential REIT, will increasingly focus on offering services to their huge client base. Sees Equity Residential offering insurance and mortgages to renters who are leaving to buy homes.

WOOD DALE, IL- Wire and cable concern signs for 108,000-sf distribution center at Lend Lease's Chancellory Business Park.

MCHENRY, IL- The City Council here will likely approve a big 95-acre, 580,000-sf retail development tonight or tomorrow, says McHenry's community development director. Arthur Rubloff will develop the site, which will be the largest retail development ever for McHenry. Meijer, Home Depot, Office Max, Circuit City and Petco will be among the retailers either owning or leasing at the site.