Chicago Cheat Sheet: GlenStar and Angelo Gordon overhauling
President’s Plaza … & more

Also, Bears Hall of Famer shaves asking prices off suburban estate

Chicago /
Dec.December 12, 2018 05:00 PM

Brian Urlacher and 15044 West Little St Marys Road, Libertyville (Credit: Getty Images and Keller Williams)

GlenStar and Angelo Gordon putting more money into President’s Plaza

GlenStar Properties and Angelo Gordon & Company have launched a $20 million renovation of the President’s Plaza office complex near O’Hare. The firms bought the two-building, 830,000-square-foot complex for $147 million earlier this year. They plan to overhaul the buildings’ exteriors and landscaping, create a tenant lounge, build a new fitness center and make other improvements. [Bisnow]

Urlacher poised to take a loss on north suburban estate

Former Bears star Brian Urlacher is now asking less for his north suburban estate that what he paid for it in 2004. The NFL Hall of Famer paid $2.3 million for the 9.4-acre property on Little St. Marys Road in Mettawa, and recently reduced the asking price to less than $2 million. The property, which was first listed in May 2017 at $3 million, includes a seven-bedroom home. [Crain’s]

Mixed-use project pitched in downtown St. Charles

Frontier Development is proposing a two-story office building with ground-floor restaurant space as one of the final pieces of suburban St. Charles’ downtown First Street project. The developers said they want to bring in a “first-class” restaurant on the ground floor of the 11,000-square-foot building and a single office tenant on the second. Aldermen gave the project preliminary support this week. [Daily Herald]

Chase donating another $10M to boost South and West sides

JPMorgan is giving another $10 million to boost retail development on the South and West sides. The contribution adds to a $40 million pledge the bank made last year to encourage redevelopment in economically struggling areas. The head of the fund benefiting from the donation said the new infusion will help launch more than a dozen projects starting early next year. [Crain’s]

Highland Park project would bring 30 new residential units near Ravinia

Klairmont Investments wants to build a four-story building with 30 residential units and more than 5,000 square feet of ground floor commercial space in suburban Highland Park’s Ravinia Business District. Highland Park city officials earlier this year approved the sale to the developer of a publicly owned parking lot that abuts to site. [Daily Herald]


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