The Real Deal Chicago

Chicago Cheat Sheet: Related getting more time to develop old Spire site … & more

Also, another church building hits the market; could be latest house of worship targeted for redevelopment
By John O’Brien | February 22, 2019 04:00PM

Related Midwest’s Curt Bailey with a rendering of 400 North Lake Shore Drive (Credit: Related Midwest)

Related getting extension on Chicago Spire site plans

Related Midwest is in line to get an extra year to start work on redeveloping the site of the ill-fated Chicago Spirer. A city panel this week approved an extension until May 2020 for the developer to start construction at 400 North Lake Shore Drive, but the full City Council still needs to formally sign off. Related last year proposed building two skyscrapers on the site, including one that would be 1,100 feet tall. But Alderman Brendan Reilly nixed the plan after a variety of objections from neighbors. Related CEO Curt Bailey told The Real Deal in November his firm is revising its plans. [Chicago Tribune]

Irving Park church is latest house of worship to hit market

The Irving Park United Methodist Church campus hit the market, and could be the latest house of worship targeted for redevelopment. While the listing bills the building at 3801 North Keeler Avenue as “perfect for another church, school or performing arts center,” a buyer could potentially demolish it and put up something new. Rebecca Lundstrom of @properties has the listing, which seeks $1.7 million for the building. [Block Club]

Life Time Fitness to rise at old Hackney’s site in Lake Zurich

Lake Zurich officials approved plans for a new Life Time Fitness center on the former Hackney’s restaurant site after the chain bought another nearby former restaurant property and reconfigured planned entrances. The building will be 40 feet tall, down 20 feet from original plans after neighbors objected. [Daily Herald]

Steel firm sells 224K sf industrial building

Esmark Steel Group sold its 224,000-square-foot heavy crane facility at 300 East Joe Orr Road in Chicago Heights to a venture tied to Harvey-based LB Steel for $3.1 million. Colliers International Chicago’s John Basile represented Esmark and Ed Wabick of Paine Wetzel represented the buyer. [REJournals]

Federal government signs suburban office lease

The U.S. General Services Administration signed a 70,000-square-foot office lease in the Aria Park Innovation Center at 747 East 22nd Street in Lombard. NAI Hiffman’s Mike Van Zandt and Brian Edgerton represented the complex owner, a venture tied to New York-based Manila Coles Capital. The GSA was represented by JLL’s Hugh Murphy and Alyssa Brooks. [Daily Herald]