Chicago Cheat Sheet: River North condo project a go … & more

Also, redevelopment of former “Purple Hotel” moving forward

Apr.April 03, 2019 05:00 PM

River North condo project and Ascend Real Estate CEO Walter Rebenson

Ascend launches River North condo project

Ascend Real Estate started work on its 12-story condo building in River North. Half of the 34 units are already under contract, according to @properties marketing agents, and the building at Superior and Sedgwick streets is set to open next spring. The units have two, three or four bedrooms and remaining condos are priced from $1 to $3.5 million. [Curbed]

Tucker’s Purple Hotel redevelopment project advances

Tucker Development closed on its acquisition of the former “Purple Hotel” property in Lincolnwood and is moving forward with a $170 million project on the site. Tucker plans to develop 85,000 square feet of retail and restaurants, a 220-key hotel and 300 luxury apartments on the 8.5-acre site at 4500 West Touhy Avenue. CEO Rich Tucker declined to say how much the firm paid for the property. Construction is expected to start later this year and take about 1½ years. [Lincolnwood Review]

Big industrial complex planned in Melrose Park

Ridgeline Property Group plans to develop a 623,000-square-foot industrial complex in Melrose Park. The three-building Chariot Logistics Center at 8600 West North Avenue would have buildings ranging from 135,000 to 252,000 square feet. Construction is expected to wrap up by the end of the year. Larry Goldwasser, Colin Green, Matt Cowie and Michelle Maguire of Cushman & Wakefield will handle leasing. [GlobeSt.]

Mansion built during Prairie Avenue’s heyday hits market

A 27-room Prairie Avenue mansion is back on the market after several failed attempts at selling it over the last 11 years. The 11,000-square-foot Elbridge and Harriet Keith House at 1900 South Prairie Avenue first listed in 2008 for $3.3 million. It’s back on the market now for $2.8 million. The nearly 150-year-old house one of only seven that remain from the heyday of the Prairie Avenue District. Hadley Rue of Dream Town Realty has the listing. [Crain’s]

Leopardo inks office lease in building it just completed

Construction firm Leopardo moved into a 24,000-square-foot space in the 12-story office building it just finished building at 210 North Carpenter Street in Fulton Market District. The prolific general contractor signed a long-term lease in 200,000-square-foot building developed by Sterling Bay and designed by Solomon Cordwell Buenz. Partners by Design oversaw the design of the Leopardo space. The building will be anchored by Google, which is leasing 132,000 square feet. [REJournals]

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