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

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]

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