Chicago Cheat Sheet: Florsheim mansion goes on the block… & more

Also, Tinley Park is mulling more than $7M in incentives for apartment developer

TRD CHICAGO /
Oct.October 15, 2018 05:00 PM

Chicago (Credit: iStock)

Florsheim mansion in Gold Coast hits the market

A Gold Coast mansion once owned by shoe heiress Lillian Florsheim is listed for $2.4 million after being off the market for more than four years. The five-bedroom, 4,500-square-foot home was designed by architect Andrew N. Rebori and later modified by architect Bertrand Goldberg. [Chicago Tribune]

Tinley Park mulling incentives for apartment developer

Tinley Park officials are considering more than $7 million in incentives for the developers of the 165-unit Boulevard at Central Station apartment complex. The village, using tax increment financing money, would reimburse South Street for $2.2 million in infrastructure work and rebate the developer as much as $4.83 million in property tax revenue over a decade or possibly more. [Daily Southtown]

Entry-level homes in short supply: Re/Max

An analysis by RE/MAX Northern Illinois showed sales activity and price levels comparable to a year ago along with a slowly expanding inventory of homes for sale. Most of the growth involved condominiums, townhomes and luxury homes. Listings of moderately priced single-family homes remain in short supply in most submarkets. [Globe St.]

Developers again seek OK for Des Plaines senior apartments

Pontarelli Companies is making its third attempt to win Des Plaines officials approval of Blue Sky Residence, a proposed 67-unit senior apartment community. The developers say they have made various changes to the project to address neighbors’ concerns after aldermen rejected the project twice before. [Daily Herald]

Evergreen to build affordable apartments in Albany Park

Evergreen Real Estate is starting work on the Oso Apartments in Albany Park, five months after the Chicago Housing Authority approved up to $10 million for the project as part of its Rental Assistance Demonstration program. The project will be a five-story building with 48 units.[Block Club]

Three retailers ink leases at Streeterville tower

Three new retailers signed leases at the 57-story Optima Signature tower in Streeterville. GoodVets Streeterville, RUNAWAY and Guidepost Montessori are taking a total of some 18,000 square feet in the luxury apartment building. [REBusiness Online]

New industrial real estate company to specialize in logistics properties

Logistics Property Company, a newly formed industrial real estate venture, is partnering with Macquarie Capital Real Estate Investments. It wants to grow its business to more than $5 billion of properties under management over the next five years. Led by CEO James Martell and several former senior executives of Ridge, LPC managers have developed more than 17 million square feet since 2014. [Connect Media]


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