Friday, June 6, 2025
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CivicDevelopmentIllinoisMidwest

Brookfield Zoo Chicago Unveils $500M Renovation Plan

by Kristin Harlow

CHICAGO — Brookfield Zoo Chicago has unveiled its “Next Century Plan” that will reshape more than 100 acres, representing nearly half of the zoo’s existing property. The zoo has outlined a 15-year campus plan in four phases, with further improvements projected over 30 years. Plans call for new, immersive experiences with the preservation of historical structures and includes nearly all existing zoo areas. The zoo also plans to expand its current property westward. The investment is expected to reach $500 million from public and private funding. The first phase of the project is underway and includes completed projects such as the $10 million renovation of the Seven Seas dolphin habitat, reimagining of the Theodore Roosevelt Memorial Fountain, new animal habitats within the Hamill Family Nature Plaza and the opening of the Philip W. K. Sweet Jr. Animal Care and Conservation Center. Culminating the end of Phase I is Tropical Forests, a $66 million project underway that creates four new outdoor habitats crafted to emulate the natural homes of gorillas, orangutans and monkeys. Tropical Forests, set to open in 2025, also includes a new Gorilla Conservation Center. Architectural and planning teams for the project include Booth Hansen, Jones & Jones Architects …

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DevelopmentIllinoisMidwestOffice

Skender Completes 100,000 SF Interior Build-out for Relativity Office Headquarters in Chicago

by Kristin Harlow

CHICAGO — Skender has completed interior construction of a 100,000-square-foot office headquarters for software developer Relativity in Chicago. The new workspace spans the 19th and 20th floors plus dedicated terrace space on the 23rd floor of the Central Standard Building at 231 S. LaSalle St. The space features a mix of private offices, open workstations, meeting rooms, lounge spaces, pantry areas and a boardroom. The build-out included the addition of an interconnecting staircase with stadium-style seating for townhall meetings as well as the installation of three gas fireplaces, a golf simulator, putting green, massage chairs and a giant video wall. The terrace features a gas firepit, two water features and audiovisual (AV) and lighting for events. The project team included CBRE as project manager, Partners by Design as architect, Syska Hennessy Group as engineer and TM Technology Partners as low voltage/AV designer.

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IllinoisLeasing ActivityMidwestOffice

Proper Title Opens New Office in Vernon Hills, Illinois 

by Kristin Harlow

VERNON HILLS, ILL. — Chicago-based Proper Title LLC, a full-service title insurance agency serving the residential and commercial real estate industries, has opened a new office in the Chicago suburb of Vernon Hills. Located at 175 E. Hawthorne Parkway, the office replaces Proper Title’s previous location in Libertyville. The company says it needed a larger space to accommodate increased business in the northwest suburbs. The new office totals 1,773 square feet and features three closing rooms, a large reception area and ample parking. Isabel Reyes, a senior escrow officer, will oversee the office along with additional staff as needed per closing.

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DevelopmentIllinoisIndustrialLoansMidwest

Associated Bank Provides $25.4M Construction Loan for 292,054 SF Industrial Project in Romeoville, Illinois

by Kristin Harlow

ROMEOVILLE, ILL. — Associated Bank has provided a $25.4 million construction loan for Bridge Point I-55 Commerce Center in the southwest Chicago suburb of Romeoville. The speculative industrial project will total 292,054 square feet across two buildings. Bridge Industrial is the developer. The first building will total 120,012 square feet and feature a clear height of 36 feet, 25 exterior docks, two drive-in doors and 223 car parking stalls. The second building will span 172,042 square feet with a clear height of 36 feet, 43 exterior docks, two drive-in doors and 107 car parking stalls. The site also features an additional 3.8 acres to accommodate 75 more trailer parking stalls. Completion is slated for July 2025. Dan Leahy and Adam Roth of NAI Hiffman are marketing the project for lease.

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DevelopmentIllinoisIndustrialMidwest

Sterling Bay Begins Development of Pulaski 55 Logistics Center in Chicago

by Kristin Harlow

CHICAGO — Sterling Bay has begun development of Pulaski 55 Logistics Center, a 147,500-square-foot speculative industrial facility in Chicago’s Archer Heights neighborhood. Completion is slated for December. The 7.5-acre project site features direct interstate frontage on I-55. The development will feature up to 29 loading docks, a fully secured truck court, 36-foot ceiling heights and two overhead drive-in doors. Plans call for two electric vehicle charging stations, upgraded steel components for future solar panel integration, curated landscaping and energy-efficient fixtures in both the warehouse and office space. Sterling Bay acquired the property in August 2023 in partnership with Affinius Capital. First National Bank of Omaha provided the construction loan. Premier Design + Build Group is the general contractor.

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Bally's-Chicago-Casino
DevelopmentHospitalityIllinoisMidwestMixed-UseRetailTop Stories

Bally’s Releases Updated Plan for $1.7B Casino Project in Chicago 

by Hayden Spiess

CHICAGO — Bally’s Corp. (NYSE: BALY) has released an updated permanent site plan for its $1.7 billion casino project in Chicago, a redevelopment of the former Chicago Tribune printing plant that will now be developed in a single phase. The property is located at 777 W. Chicago Ave. in the city’s River West neighborhood. Project plans now include a 34-story, 500-room hotel tower situated at the southern end of the 30-acre gaming and entertainment destination. The hotel — which was initially expected to be located elsewhere in the development — will feature a pool, spa, fitness center, sundeck and rooftop restaurant and bar.  In addition to the hotel, the Bally’s Chicago Casino will include a 3,000-seat theater, six restaurants, a food hall and a two-acre public park. The casino will comprise 3,300 slot machines, 173 table games and VIP gaming areas. Additionally, a 2,000-foot extension of the riverwalk will connect the property to the riverbank. Design firm HKS prepared the new renderings.  In May 2022, Bally’s was selected over competitors including Hard Rock International and Rush Street Gaming as the preferred developer of the project. Bally’s took possession of the land last week, and Brandenburg Industrial Service Co. is now preparing the …

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DevelopmentIllinoisIndustrialMidwest

Ryan Cos. Breaks Ground on 170,000 SF Spec Industrial Facility in Chicago

by Kristin Harlow

CHICAGO — Ryan Cos. US Inc. has formed a joint venture with Washington Capital Management Inc. to build a 170,000-square-foot speculative industrial facility at Pullman Crossings in Chicago. Pullman Crossings is a 50-acre industrial park that is part of Pullman Park, a 180-acre mixed-use project being developed by Chicago Neighborhood Initiatives. The new facility marks Ryan’s third phase of Pullman Crossings with the fourth and final phase expected to kick off later this year. The 10-acre site is located in the historic Pullman neighborhood near I-57. The building will feature outdoor eating areas, exterior bike racks, ESFR fire protection and a clear height of 32 feet in the warehouse. Ryan is serving as developer and builder. Bankers Trust Co. is providing construction financing. Completion is slated for the first quarter of 2025. Since 2017, Ryan has developed and built three industrial facilities totaling 685,000 square feet at Pullman Crossings, including a Whole Foods Market distribution center, a SC Johnson warehouse and an Amazon last-mile distribution center.  

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IllinoisLeasing ActivityMidwestOffice

Expansive Opens New Flexible Workspace at The Opus Chicago

by Kristin Harlow

CHICAGO — Expansive, a flexible workspace solutions provider, has opened its newest location at 3838 N. Ravenswood Ave. in Chicago. Co-developed by Landrosh Development and Macon Construction, the apartment and office property is named The Opus Chicago. The building is situated between the Lincoln Square and Roscoe Village neighborhoods and is 1.5 miles from Wrigley Field. The first two floors of the property are dedicated to modern, flexible workspaces. Expansive operates nearly 4 million square feet of workspace for owned properties and landlord partners with over 40 locations across 32 U.S. cities.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Brokers Sales of Two Apartment Buildings in Chicago Totaling $5.1M

by Kristin Harlow

CHICAGO — Interra Realty has brokered the sales of two multifamily properties in Chicago. The first transaction was an eight-unit building at 5130 S. Greenwood Ave. in the Hyde Park neighborhood that sold for $2.9 million. The second was a 17-unit property at 6251 N. Talman Ave. in the West Ridge neighborhood that sold for $2.2 million. Brad Feldman of Interra represented the Greenwood buyer, a local private investor, and the seller, Barnett Capital. Feldman also procured the buyer of the Talman property, a local private investor. Feldman and colleague Kevin Rahmanim represented the seller, a local family-owned limited liability company. Greenwood was built in 1911 and rehabbed in 2020. The building was fully occupied at the time of sale. Talman was built in 1955 and was fully occupied at the time of sale. The buyer plans to renovate all units and add a bedroom to select units.

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DevelopmentIllinoisMidwest

Gensler Completes Study for Reimagining Chicago’s North Michigan Avenue

by Kristin Harlow

CHICAGO — Parkside Realty’s Bob Wislow and Camille Julmy partnered with a team of architects and strategists at Gensler Chicago to study the innovations and interventions that could help elevate North Michigan Avenue. According to Gensler, the COVID pandemic led to North Michigan Avenue receiving 6.5 million fewer visits per year; a 74 percent increase in crime; 25 to 35 percent decrease in property tax value; massive losses of sales, hotel and entertainment taxes; and over 2,000 jobs lost. North Michigan Avenue hasn’t undergone a major transformation since the 1990s. The team identified the end of North Michigan Avenue, between Chicago Avenue and Oak Street Beach, as the area with the greatest potential to elevate the famed street’s experience. The high street’s southern edge features the Michigan Avenue Bridge, Chicago River Tours, Chicago Architecture Center, Apple Store, Wrigley Building and the recently renovated Tribune Tower, creating an anchor for the street. On the northern end, the foreclosure of Water Tower Place, potential sale of the Drake Hotel, repositioning of the John Hancock Center and a now-empty 830 N. Michigan Avenue have presented an opportunity to create an equally prominent northern anchor, according to Gensler.

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