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Chicago Cheat Sheet: Ventas CEO Cafaro to lead Chicago business group … & more

Also, Chicago City Council not the only lame-duck body to approve controversial project

Debra Cafaro
Debra Cafaro

Debra Cafaro to lead Economic Club of Chicago

Ventas CEO Debra Cafaro is the new chairwoman of the Economic Club of Chicago’s board. The head of the Chicago-based REIT succeeds Ariel Investments’ Mellody Hobson at the helm of the prestigious business group. Ventas is a $23 billion firm with about 1,200 health-care facilities in North America and the United Kingdom. [Crain’s]

Lame-duck Rolling Meadows council approves controversial townhome project

The lame-duck Rolling Meadows City Council gave final approval to Taylor Morrison’s 106-unit townhome development on the former Dominick’s property on Kirchoff Road. The vote was taken a month before three new aldermen and new Mayor Joe Gallo are set to take office. Gallo opposed the Taylor Morrison plan for 54 three-story homes and 52 two-story homes. He prefers a local business owner’s vision for a town center with retail, residential and parkland on the 11-acre site at 2819-2915 Kirchoff Road. [Daily Herald]

Leasing underway at River City after big deconversion

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The rental complex resulting from the biggest condo deconversion in Chicago history is now leasing units. The 447-unit River City Apartments in the South Loop is owned by Elliott, the Wolcott Group, Ruttenberg-Gordon Investments and Marc Realty Residential. It feature studios, one-bedrooms and three-bedrooms renting for $1,495 to $3,595. Luxury Living Chicago Realty is overseeing marketing and leasing. [Connect Media]

Glen Ellyn moving ahead with Apex 400 apartments

Despite a lawsuit seeking to block it, an apartment development in downtown Glen Ellyn won final approval from the village. The Apex 400 project would bring a five-story, 107-unit development on the site of the former Giesche Shoes store and a village-owned parking lot. But a lawsuit filed last week claims the village acted improperly in granting it a special-use permit. [Daily Herald]

Domanus shelves luxury condo project in Evanston

Domanus Development dropped its plans for a residential development at Emerson and Jackson streets in Evanston. The project would have included two five-story buildings with 44 luxury condos as well as underground and surface parking. Domanus now is looking for another property on Emerson Street between Ashland and Darrow avenues for a combination of commercial and residential buildings, Evanston officials said. [Daily Northwestern]

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