Chicago

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.

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

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.

CHICAGO-The nation's largest real estate auctioneer Sheldon Good & Co. is considering going public to finance international expansion and technology investments, CEO says. The company is in the midst of conducting a big auction of residential properties, part of $30 million in inventory of bankrupt developer United Homes properties.

CHICAGO-The nation's largest office REIT tells analysts that its acquisition tear is over for the moment. Emphasis is on debt reduction following Cornerstone REIT and Beacon REIT acquisitions. Company seen disposing of assets in markets like Orlando, Phoenix and Indianapolis.