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News

9/21/2020 Commercial Closures Are Causing a Ripple Effect Impacting the Residential Sector—Mansion Global

When the coronavirus pandemic seized the U.S., Allen Morris had a plan for Maitland City Centre, a 220-apartment community with a 35,000-square-foot commercial space that claims a whole city block in Maitland, near Orlando, Florida.
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9/18/2020 Hybrid Multifamily Buildings Provide Something Special For Condo Owners, Developers—Forbes

Multifamily buildings that pair luxury rental apartments with condominiums in the same properties are delivering more bang for the buck to both condo owners and developers.
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9/18/2020 Parkview Financial provides $22.75 million construction loan for 67-unit townhome project in Chicago, Illinois—Yield PRO

Parkview Financial announced it has provided a $22.75 million construction loan to a joint venture of Noah Properties and MPM Holdings for the development of a for-sale, 67-unit townhouse project.
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9/17/2020 Space Race: Investors and Developers Rethink Parking Garages Amid COVID—Commercial Observer

The fourth-tallest building in the United States north of New York City is going up on the site of what until 2018 was the largest municipally owned parking garage in Boston.
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9/17/2020 The Government Is Protecting Renters, But Who Is Looking Out For The Landlords?—WBEZ

Frank Celio owns a brown and beige single-family home in Hegewisch, a working-class neighborhood on Chicago’s Far South Side just blocks from the Illinois-Indiana state line.
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9/17/2020 NRC Tapped for Bulk Condo Sale at Catherine Courts—ConnectCRE

NRC Realty & Capital Advisors was retained in U.S. Bankruptcy Court, Northern District Of Illinois, as the exclusive real estate broker for a bulk sale of 185 condominiums at the Catherine Courts Condominiums complex in Chicago’s O’Hare corridor.
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9/17/2020 Don't count out deconversions yet—Daily Herald

Around this time last year, we saw headlines like "The Chicago deconversion craze is dying." A lot has changed since then, with the COVID-19 pandemic challenging virtually every major property sector.
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9/17/2020 How High Up Can You Live in Chicago?—Chicago Magazine

One way to approach this weekly column is to find a news hook and a set of properties that match it. Another is very service-oriented, with an eye on space and affordability. For this one, I’m posing a question that will generate a small set of condos that are simply cool to look at: how high up can you live in Chicago?
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9/15/2020 Veteran development sales and marketing experts launch Wolf Development Strategies—RE Journals

David Wolf and Christine Lutz have launched Wolf Development Strategies, a premier full-service development advisory, marketing and sales firm for luxury residential developments across the U.S.
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9/15/2020 Real estate, casino billionaire Bluhm on buyer's side of $7.4M Palm Beach condo deal—Palm Beach Daily News

Palm Beach apparently has a new billionaire, now that Chicago real estate and casino tycoon Neil Bluhm has bought a never-lived-in condominium in Midtown.
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9/15/2020 6 injured in high-rise fire in Loop: officials—WGN News

At least six people were injured, two of them critically, in a high-rise fire in the Loop.
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9/14/2020 Avison Young closes 19-unit condo deconversion in Lincoln Park—Real Estate Journals

Avison Young completed the sale of 317-325 W. Belden Avenue, a 19-unit condominium building located in the Lincoln Park neighborhood of Chicago. Terms of the deal and the buyer were not been disclosed.
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9/10/2020 City Council Approves Plans To Supersize West Loop Luxury Condo Building—Block Club Chicago

A proposal to expand a luxury condo building in the West Loop received the green light from Chicago’s City Council on Wednesday.
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9/10/2020 Oak Brook Village Board Okays MOB for McDonald’s Plaza Revamp—ConnectCRE

The Oak Brook Village Board of Trustees voted to approve a Planned Development Amendment application, clearing the way to build Oak Brook Commons Medical as part of Hines’ redevelopment of the former McDonald’s Plaza site. The seven-story, 78,000 square foot outpatient facility will be developed by MedProperties Group.
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9/10/2020 Downtown Denizens Are Shaken But Not Quite Stirred To Leave Their Homes—WBEZ

Lily Moy, a tech executive and mom, loves living downtown. And, despite two recent bouts of vandalism that left the Magnificent Mile pocked with plywood storefronts, she said she hasn’t even considered leaving.
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9/3/2020 4-year-old, man found in Glendale Heights condo fire died from gunshots to their heads: autopsies—Chicago Sun-Times

A child and man found dead in a Glendale Heights condo fire in August were each killed by a gunshot wound to the head, according to preliminary autopsy results released Thursday.
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8/26/2020 A tower by any other name—Chicago Now

In a normal summer, I’d be on the deck of a green-trimmed boat on the Chicago River, a microphone in hand. I’m a docent volunteer at the Chicago Architecture Center, and I don’t need to fake my enthusiasm for the city’s architectural gems. But there’s one spot on the river where things get choppy and I have to be proactive to stifle the booing before it can bubble up: Trump International Hotel & Tower.
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8/25/2020 Turnkey 51st-Floor Condo in a New Robert A.M. Stern-Designed Tower in Chicago—Mansion Global

This fully turnkey three-bedroom condo on the 51 floor of Robert A.M. Stern Architects’ first and only high-rise in Chicago has been decorated and furnished by Bruce Fox as the new building’s signature model unit.
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8/25/2020 Sandz’s Webster Square Condos Near Sellout in Lincoln Park—ConnectCRE

Chicago-based Sandz Development Co., and its sales and marketing firm, @properties Developer Services, said Monday that Webster Square, a new 12-story, 95-unit luxury condominium building in Lincoln Park, is nearing closeout with only 11 residences remaining for sale.
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8/25/2020 Francis Parker School Talks About Buying Another Lincoln Park Condo Building, To Objection Of Homeowners—CBS2 News

Even as the private Francis W. Parker School in the Lincoln Park neighborhood expands into a neighboring building, the school is already talking about buying up more property.
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