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

April 11, 2019 05:00 PM

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

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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