The Real Deal Chicago

Chicago Cheat Sheet: Pulte plans luxury townhomes on McDonald’s land…& more

Also, L.L. Bean is opening its third Chicago-area retail location
By John O’Brien | October 31, 2018 05:45PM

Tribune Media’s imagining of the 37-acre “River District”

PulteGroup plans luxury gated community on land bought from McDonald’s

McDonald’s plans to sell 34 acres alongside its former Oak Brook headquarters to PulteGroup, which wants to build high-end townhomes on the land. Pulte is proposing a luxury gated community with 170 townhomes on the property, which was previously used as soccer fields and park space. The local park district, though, wanted to buy the land and maintain it as recreational space. [Chicago Tribune]

L.L. Bean opening third Chicago-area store

Outdoor retailer L.L.Bean is opening its newest retail store at Oakbrook Center next week. The 17,500-square-foot location joins other Chicago-area stores at The Arboretum of South Barrington and Old Orchard in Skokie. [Daily Herald]

City revamping O’Hare hotel deal with Hilton

Chicago officials are revamping a deal with Hilton Hotels that will see the only hotel at O’Hare Airport upgraded to a first-class property and generate more money for city coffers. Meanwhile, the city is shelving plans for a second, 300- to 400-key inn across from Terminal 5. [Crain’s]

Redevelopment coming to another West Fulton Market property

Cornerstone Restaurant Group is looking to sell its property at 1400 West Randolph Street in the western portion of Fulton Market, which lately has been drawing more interest from developers. The building housed the Korean-inspired eatery BellyQ, which served its last meals Tuesday and now awaits whatever redevelopment a buyer pursues. [Curbed]

Midwest Distribution buys Bensenville industrial property

Midwest Distribution bought an 81,000-square-foot warehouse in Bensenville from United Business Mail for $4.9 million. The buyer, one of the largest wholesale distribution companies in the United States, will move its headquarters to the building at 1001 Foster Avenue. [REJournals]

Beloved Wrigleyville Taco Bell being demolished for redevelopment

The oddly beloved Wrigleyville Taco Bell is about to serve its last chalupa, as ongoing redevelopment around Wrigley Field is forcing its demolition. The property at 1111 West Addison Street was sold to West Addison Development in July 2017 for $8.9 million, and it’s scheduled to become a Planet Granite climbing gym. [Curbed]