The Real Deal Chicago

Chicago Cheat Sheet: Owners looking to sell landmark Loop office building…& more

Also, popular Bucktown Italian ice spot closes after selling building to investor
By John O’Brien | March 14, 2019 05:00PM

Steven DeGraff and the Delaware Building (Credit: Wikipedia)

Delaware Building hits market, could be redeveloped

The owners of a landmark Loop office building are looking to sell after seizing the building through foreclosure last year. A venture led by attorney Steven DeGraff picked up the 145-year-old Delaware Building at 36 West Randolph Street in March 2018 and now has hired CBRE to market it. The owners already have been approached by potential buyers wanting to turn it into shared offices or micro-apartments, they said. A popular McDonald’s has 50 years left on a 99-year lease for the building’s first two floors. [Crain’s]

Miko’s Italian Ice closes in Bucktown after building sale

The owners of a popular North Side Italian ice chain closed their Bucktown location after selling the building to an investor. Miko’s Italian Ice will still operate locations in Logan Square and Irving Park, but the owners closed the shop at 1846 North Damen Avenue after they said they were approached with an offer for the building they couldn’t refuse. [Block Club]

Architecture Biennial unveils first group of contributors

Organizers of Chicago’s third Architecture Biennial, the largest in North America, announced the first 51 contributors. The initial group includes entrants from 19 countries and a range of disciplines including contemporary art, architecture and spatial studies. Among the notable names is Theaster Gates, a popular Chicago artist known for creative repurposing of buildings as artistic and community hubs. The event runs from Sept. 19 through Jan. 5, at the Chicago Cultural Center. [Curbed]

TIF money to help overhaul aging Humboldt Park SRO building

City officials endorsed a plan to use tax increment financing money to renovate a Humboldt Park single-room occupancy that hasn’t been upgraded in its 25-year history. The $3.8 million in TIF money will help pay for a $13.4 million renovation of Humboldt Park Residence at 1152 North Christiana Avenue. The building is run by nonprofit housing group LUCHA, which built it in 1995 using tax credits. [Block Club]