The Real Deal Chicago

Chicago Cheat Sheet: Alderman O’Connor says wife’s resi broker job isn’t conflict…& more

Also, music venue owners remain wary of Lincoln Yards even after Sterling Bay nixes Live Nation entertainment district
By John O’Brien | January 11, 2019 04:00PM

Barbara O’Connor and Pat O’Connor (Credit: DreamTown, Alderman O’Connor and iStock)

Powerful Alderman O’Connor speaks out on wife’s role as resi broker

Alderman Pat O’Connor (40th) said he has no conflicts of interest preventing him from serving as chairman of the City Council’s powerful Finance Committee, despite his wife’s job as a broker for Dream Town Realty. O’Connor took control of the panel after indicted Alderman Ed Burke stepped down, and some rivals on the Council say Barbara O’Connor sold property after zoning changes authorized by her husband. O’Connor said none of the changes were approved to benefit his wife, even if she later was involved with deals related to them. [Chicago Sun-Times]

Lincoln Yards still weighing heavily on minds of music venue owners

Chicago music venue owners said they remain skeptical even after Sterling Bay said it would drop a planned entertainment district run by Live Nation from its Lincoln Yards development. The developer nixed the plan, along with a 20,000-seat soccer stadium, after Alderman Brian Hopkins (2nd) said he wouldn’t back it. Venue owners who had mobilized against the plan are still wary the huge development will include other venues they’ll have to compete against. [Chicago Tribune]

Logistics firm signs lease for big industrial property near O’Hare

ODW Logistics agreed to lease a 343,000-square-foot industrial building at 5300 Proviso Drive in Melrose Park. The Columbus, Ohio-based company is a third-party provider of salt and salt-based products. The building is not far from the south cargo entrance of O’Hare Airport. [REJournals]

Panattoni seeking tax break for Wheeling spec industrial project

Wheeling officials are backing a a property tax break for a new industrial building in the Wolf Run Estates neighborhood west of Chicago Executive Airport. Panattoni Development is seeking reduced property tax assessments for the 162,000-square-foot spec industrial building it plans for an 8-acre tract off Wolf Road on Carol Avenue. The company said the project would cost $13 million. [Daily Herald]

Senior care facility could be next development at Motorola Solutions site

Harbor Retirement Development LLC is looking to build a four-story assisted living and memory care facility on the site of the former Motorola Solutions headquarters in Schaumburg. The Vero Beach, Florida-based company is proposing 78 assisted living units and 32 memory care units. The project follows an already approved Topgolf entertainment center and a 260-unit apartment building. [Daily Herald]

Wood Dale data centers sold to San Francisco investor

San Francisco-based Element Critical bought two data centers in west suburban Wood Dale for $18.5 million, according to DuPage County property records. The company plans to spend an additional $22 million expanding and redeveloping the properties at 711 North Edgewood Avenue and 341-361 Haynes Drive, which total 195,000 square feet of space and 15 megawatts of capacity. [Crain’s]

Hoteliers rejoice: 2018 record year for tourism in Chicago

Chicago attracted a record number of tourists in 2018. According to figures released Friday by Choose Chicago, the city’s tourism bureau, 57.6 million tourists visited the city last year, a 4.3 percent jump over 2017’s record of 55.2 million.The number of domestic travelers ticked up 4.4 percent from 2017 to 2018, while foreign tourists increased by 2.9 percent. [Chicago Tribune]