Chicago Cheat Sheet: “The Profit” host flipping Lake Forest home … & more

Also, another apartment complex is coming to West Loop
By John O’Brien | February 26, 2019 05:00PM

Marcus Lemonis and 650 Lake Road (Credit: Getty Images and Relator)

Lemonis selling Lake Forest home after just 5 months

Reality TV host Marcus Lemonis is flipping a Lake Forest home he bought five months ago. The host of CNBC’s “The Profit” and head of Camping World, Good Sam Enterprises and Gander Outdoors is listing the six-bedroom home on Lake Road for $2.5 million. Listing agents Jean Anderson and Donna Mancuso of Berkshire Hathaway HomeServices KoenigRubloff Realty Group said Lemonis fixed the roof and chimneys and painted the interior after buying the home for $1.85 million in September. [Crain’s]

Mixed-use apartment project going up in West Loop

A seven-story mixed-income apartment project is set to rise on a parking lot in the West Loop. Developer Heartland Alliance scored a construction permit for the building at 1533 West Warren Avenue, which will include a total of 63 studios and one-bedrooms. Architect Valerio Dewalt Train Associates is designing the building. [Curbed]

More wealthy residents renting in Chicago

Chicago had more than 39,000 renters making $150,000 or more in 2017, placing it fourth among U.S. cities for the most high-income renters, according to RentCafe. About 6.7 percent of all the city’s renters belonged to that upper bracket, meaning the number of wealthy renters more than tripled since 2007. Chicago trailed New York (249,000), San Francisco (71,000) and Los Angeles (67,000) for the wealthiest renters. [Block Club]

Hydrox renews big industrial lease in Elgin

Hydrox Laboratories signed a lease renewal for its 83,000-square-foot industrial building at 825 Tollgate Road in Elgin. Nick Eboli and Steve Bass of NAI Hiffman represented Hydrox, while Dan Jones and Dan Benassi of Entre Commercial Realty represented owner Colony Capital. [Daily Herald]

Willowbrook Ballroom site being converted into subdivision

The 12-acre site of the legendary Willowbrook Ballroom in Willow Springs is being converted into 168 condominiums and 42 townhouses. Developer Westpoint Builders bought about half the Willow Springs property Feb. 13 for $1.25 million, and is buying the rest of the site in separate transactions. The building burned down in October 2016 after 95 years hosting performers including Count Basie, Chubby Checker and Frank Sinatra. [Crain’s]