Chicago Cheat Sheet: River East Center up for sale … & more

Also, big mixed-use complex advances in Arlington Heights

TRD CHICAGO /
Mar.March 28, 2019 05:00 PM

River East Center property flier

Streeterville retail complex listed for a reported $120M

New York-based Madison Capital and Connecticut-based Wheelock Street Capital are shopping the River East Center in Streeterville, seeking a reported $120 million. The investors are looking to cash out of the 253,000-square-foot complex at 233 East Illinois Street three years after buying it for $94 million. Tenants include an AMC movie theater, Lucky Strike bowling alley, Walgreens, University of Chicago Medical Center clinic and a Bright Horizons daycare center. An Embassy Suites hotel, luxury condominium tower and large parking garage in the complex are not included in the sale. HFF’s Amy Sands and Clinton Mitchell have the listing. [Crain’s]

Norwood Builders’ big Arlington Heights mixed-use project gets key OK

Arlington Heights officials are backing Norwood Builders’ plan for a large mixed-use complex in the town’s downtown. The Arlington 425 project calls for a four-story, 54-unit residential building facing Chestnut Avenue; a nine-story, 182-unit apartment building with commercial space on the bottom two floors on Campbell Street; and a 13-story, 125-unit apartment building on Highland Avenue that would include a six-story parking garage. Arlington Heights planning officials voted to advance the plan, but said they still have concerns about parking and congestion. [Daily Herald]

Logan Square church listed for $1.6M

A 110-year-old church in Logan Square is set to hit the market for $1.6 million. Leaders of the Grace United Methodist Church at 3325 West Wrightwood Avenue decided to sell the building after years of shrinking membership and needed repairs. They said the new owners can decide whether to preserve or redevelop the property. Eric Rojas of Kale Realty has the listing. [Block Club]

Rolling Meadows townhome development rolls along

Rolling Meadows officials gave preliminary approval to plans for 106 townhouses on a former Dominick’s property downtown. Taylor Morrison’s Meadow Square development at 2819-2915 Kirchoff Road would feature 54 three-story homes and 52 two-story homes. Clark Street Development would retain two lots fronting Kirchoff Road for potential future commercial use. The project could come up for a final vote April 9. [Daily Herald]


Related Articles

arrow_forward_ios
924 N. Clark Street and owner of the mansion, Rishi Shah

Revealed: What accused fraudster Rishi Shah paid for one of Chicago’s grandest mansions

Wolf Point East at 313 W. Wolf Point Plaza and Nema Chicago at 1210 South Indiana Avenue (Credit: Hines, Nema Chicago)

Over 10K new apartments could flood Downtown Chicago by 2022. But there’s a catch

From left: CEO and founder of CA Ventures Thomas Scott, CEOs of WeWork Sebastian Gunningham and Artie Minson, and a rendering of the building

WeWork has troubles, but it also has a new location in River North

EquityBuild's Shaun and Jerome Cohen and one of the corporation's properties at 7549-7559 South Essex Avenue (Credit: Google Maps)  

Ponzi scheme fallout: South Side has thousands of distressed apartments

The Bolingbrook property along route 53 and Amazon CEO Jeff Bezos (Credit: Google Maps, Getty Images)

Amazon pays $51M for site of former Chicagoland amusement park

Chairman and CEO of Taylor Morrison Sheryl Palmer and Townhouses at Riverbank Crossing in Geneva

With Chicago area home sales down, homebuilder Taylor Morrison is out

Co-founder, President and CEO of CLK Properties Craig Koenigsberg, Heritage Village Pointe in Des Plaines (Credit: Google Maps)

CLK Properties closes on massive condo deconversion in Des Plaines

No. 9 Walton (Credit: Google Maps, iStock)

Chicago’s ultra-luxury resi market had a no good, very bad year

arrow_forward_ios
Loading...