AURORA, IL-The City Council turns on the financial green light for the first phase of the huge $450-million RiverCity convention and sports arena development. A construction contract worth as much as $100 million will be awarded sometime this winter, with ground breaking expected next summer.
CHICAGO-The shares of Prime Group Realty REIT have not climbed in reaction to reports that CEO Mike Reschke has paid $61 million to purchase the 34% stake in the trust held by Blackstone Group.
CHICAGO- The West Loop loft boom continues with West Madison Developers and New West Realty announcing a 146-unit, high-tech loft project at 1501 W. Madison. West Madison expects to make another major residential loft announcement before the end of the year.
CHICAGO-The utility's development arm is looking at plant sites outside Illinois as part of a scramble by power plant developers nationwide to meet demand. Opposition to Ameren's proposed Elgin, IL peaker plant is indicative of troubles utility developers are having everywhere.
CHICAGO- Big development plans will soon be announced as Keystone REIT acquires land in Louisville and Cincinnati, trust executives say. The shift into big-box warehouses will pit the Pennsylvania-based office and industrial REIT against such distribution facility giants as Prologis and First Industrial.