Chicago Cheat Sheet: Chick-fil-A coming to the Mag Mile … & more

Also, Hilco will have to wait and see if it scores tax break on $100M industrial complex

Chicago /
Jan.January 23, 2019 05:00 PM

(Credit: Wikipedia)

Magnificent Mile retail scene going to the birds

Chick-fil-A is coming to the Magnificent Mile, moving into the longtime home of the Michelin-honored Purple Pig restaurant at 500 North Michigan Avenue. The Purple Pig will move into new space just south in the building at 444 North Michigan owned by CIM Group and Golub & Company. Chick-fil-A has three other restaurants Downtown, and is planning another in the South Loop. [Chicago Tribune]

Aldermen throw wrench into Hilco request for property tax break for industrial project

The City Council is holding off on granting a property tax assessment reduction for Hilco Development Group’s massive industrial complex on the South Side. After approving the $100 million plan to convert an old coal-fired power plant into a one-million-square-foot distribution center in September, aldermen this week postponed the vote due to environmental concerns voiced by opponents who argued that the development would increase air pollution. [Block Club]

Work proceeding on River North condo project

Ascend Real Estate Group is moving forward with its River North condo project, tearing down two commercial buildings at 360 and 368 West Superior Street. The developer is planning a 12-story building with 34 units, to be named Superior House. Broker Carrie McCormick of @properties said 11 units are under contract and the developer is targeting spring 2020 deliveries. [Curbed]

Tucker adds more retail tenants to 900 West in Fulton Market

Tucker Development signed a number of new tenants to its large Fulton Market development known as 900 West. Already home to Lululemon, Bonci Pizzeria and Bluemercury, the complex bounded by Randolph, Lake, Sangamon and Peoria streets is bringing in Kinton Ramen, Jeni’s Splendid Ice Creams and upscale menswear boutique Independence. Tucker has redeveloped the block and begun filling roughly 45,000 square feet of retail space since buying the properties in 2015 for $52 million. [Crain’s]

Former Tribune boss selling Winnetka mansion

Onetime Tribune Publishing CEO Justin Dearborn is selling his North Shore mansion after stepping down from the newspaper company last week. Dearborn put the 7,000-square-foot English-style manor in Winnetka on the market for $2.7 million. Last year, the 49-year-old listed another home in Naples, Florida for $410,000. [Chicago Tribune]

105-unit rental project coming to Edgewater

A venture of City Pads, Catapult Real Estate Solutions and Cagan Management Group is building a six-story, 105-unit apartment complex at 6145 North Broadway in Edgewater. Summit Design + Build is the contractor on the six-story, 79,000-square-foot project near Loyola University that will also include 3,700 square feet of ground floor retail space and 45 parking spaces. [Connect Media]


Related Articles

arrow_forward_ios
Fritz Kaegi, Cook County assessor (Getty Images, iStock/Illustration by Steven Dilakian for The Real Deal)
Cook County assessor Kaegi’s office collects $15M of ineligible tax exemptions
Cook County assessor Kaegi’s office collects $15M of ineligible tax exemptions
Kiser Group's Noah Birk and Aaron Skar with 7800, 7806 and 7822 South Laflin in the South Side neighborhood (Kiser Group)
Chicago multifamily properties attracting out-of-state buyers: Kiser Group’s Birk, Sklar
Chicago multifamily properties attracting out-of-state buyers: Kiser Group’s Birk, Sklar
Merchandise MART and Vornado VP Glen Weiss (Loopnet, LinkedIn)
Chicago’s Merchandise Mart getting another renovation
Chicago’s Merchandise Mart getting another renovation
Henry Kravis, co-founder and co-executive chairman, KKR (KKR); and Logistics Property In Suburban Chicago area (Crow Holdings)
KKR fund buys 923K sf three-building logistics property in suburban Chicago as part of $264M deal
KKR fund buys 923K sf three-building logistics property in suburban Chicago as part of $264M deal
A rendering of "43 Green," the planned development on the corner of Calumet Avenue and 43rd Street (Chicago Department of Planning & Development)
Mixed-use development set to bring housing, retail to Bronzeville
Mixed-use development set to bring housing, retail to Bronzeville
These were Chicago’s top real estate stories of 2021
These were Chicago’s top real estate stories of 2021
These were Chicago’s top real estate stories of 2021
Duke Realty buys still more Chicago property, expanding to suburbs
Duke Realty buys still more Chicago property, expanding to suburbs
Duke Realty buys still more Chicago property, expanding to suburbs
Foxtrot co-founder/CEO Mike Lavitola and 167 North Green Street (Google Maps, LinkedIn)
Chicago’s upscale convenience store chain raises $100M to open 50 retail locations
Chicago’s upscale convenience store chain raises $100M to open 50 retail locations
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...