Chicago Cheat Sheet: Industrial developers ramp up massive construction… & more

Also, Orion Residential puts 224-unit Naperville complex on the market

TRD CHICAGO /
Jan.January 10, 2019 05:00 PM

(Credit: iStock)

Industrial construction ramping up

Industrial developers had nearly 19 million square feet of space in production at the end of 2018, nearly double the amount underway at the start of the year. A year-end report from Colliers International said 60 projects were in the works at the end of 2018. This year could approach 2017’s industrial construction total of 24.6 million square feet completed. The boom could be attributed to heightened leasing activity: Some 65 percent of spec space built since 2013 has been filled, the report said. [Bisnow]

Garfield Green Line station gets $43 million facelift

City officials said work has wrapped up on a $43 million renovation of the Garfield Green Line stop. The project included landscaping, public art, bigger platform canopies and elevator and escalator improvements.. The work was partly funded with a $25 million federal grant and begun in the spring of last year. [Chicago Tribune]

Orion selling off Naperville apartment complex

Orion Residential is looking to sell the 224-unit Courtyards Village Apartments in Naperville, which the Deerfield-based firm acquired in November in a three-property deal. The 1,700-unit deal also included two complexes in Mount Prospect. Orion valued the Courtyards Village port of the deal at $26 million for property transfer tax purposes. [Crain’s]


Related Articles

arrow_forward_ios
1035-1065 N Orleans St (Credit: Google Maps)

Developers place bets on another downtown hotel

2537 North Pulaski Road in Logan Square (Credit: Google Maps)

‘Hipster’ concert venue will cause gentrification, Logan Square activists claim

Former NFL player Israel Idonije and 200 W. Madison St. (Credit: Getty Images, Google Maps)

Former Chicago Bear launches 1871-styled incubator with insane lease rates

PepsiCo CEO Ramon Laguarta and WeWork CEO Adam Neumann with the Old Post Office (Credit: Getty Images)

Space race: WeWork, PepsiCo may take a combined 320K sf at 601W Companies’ Old Post Office

Amazon CEO Jeff Bezos and Hillwood Investment Properties’ 3639 Howard Street in Skokie, Illinois (Credit: Getty Images and Hillwood Investment Properties)

Amazon, with an insatiable appetite for warehouse space, appears to make big play in Skokie

The top five most active multifamily general contracting firms were approved to build 3.7 million square feet of residential development over the last year.

These are the top multifamily general contractors in Chicago

John Buck and Morgan Stanley want big payday for “Big Red,” former city development chief joins Clayco: Daily digest

John Buck and Morgan Stanley want big payday for “Big Red,” former city development chief joins Clayco: Daily digest

500 Fulton Market apartment units planned, local construction industry struggles to find workers: Daily digest

500 Fulton Market apartment units planned, local construction industry struggles to find workers: Daily digest

arrow_forward_ios