Chicago Cheat Sheet: White Sox exec and TV anchor selling Streeterville townhouse…& more

Also, Chicago-area retail vacancy rate ticks up

Apr.April 24, 2019 05:00 PM

Zoraida Sambolin and Kenny Williams (Credit: Getty Images and VHT Studios)

Kenny Williams and Zoraida Sambolin find buyer

Chicago White Sox executive Kenny Williams and his wife, WMAQ-TV anchor Zoraida Sambolin, are selling their Streeterville townhouse. The couple have a buyer for the five-story home after listing it for $2.6 million in March. They later cut the asking price by $100,000 before it went under contract April 15. A trust linked to Williams and Sambolin bought the 3,900-square-foot home in December 2017 for $2.4 million. The couple also owns a 7,300-square-foot lakefront mansion in New Buffalo, Michigan, which they bought for $2.3 million in 2015. [Chicago Tribune]

More bad news for local retail landlords

The Chicago-area retail vacancy rate ticked up in the first quarter and is nearing its most recent peak. Some 11.5 percent of retail space was vacant at the end of the quarter, up from 11.1 percent the prior quarter, according to a CBRE survey. The vacancy rate was as high as 11.6 percent in the second quarter of last year. Average asking rents were at $18.50 per square foot in the first quarter. [Crain’s]

Buffalo Grove plans massive development

Buffalo Grove officials are moving ahead with plans for a mixed-use development on 128 acres around the Prairie View Metra station. Plans call for a mix of single-family homes, townhouses, parks, multifamily buildings and other commercial uses around the station at 2701 Main Street. Officials said the village already has met with a broker interested in assembling a project there. [Daily Herald]

CMK’s South Loop apartment complex a step closer

CMK Companies is moving forward with the Coeval apartment project in the South Loop. The complex at 14th Street and Wabash Avenue will feature a total of 261 apartments and 10,000 square feet of retail space. Pre-leasing has begun, with first move-ins expected in May 2020. The project will feature a 19-story building with 199 units and a 10-story building with 62. The two towers will offer studios, convertibles, one-bedrooms, one-bedrooms with a den, two-bedrooms and two-bedrooms with a den ranging from 300 to 1,300 square feet. [REJournals]

Event space, restaurant to replace planned West Loop distillery

A local entrepreneur abandoned his plan to build a craft distillery in the West Loop, and now plans to open a restaurant and event space in the spot instead. Marc Bushala said he now plans to open the 18,000-square-foot “City Hall” space this summer in the former Ryder truck maintenance garage at 838 West Kinzie Street. Bushala, managing partner of Chicago-based MAB Capital Management, also owns Atomic Hospitality, which has event spaces in Ravenswood and Fulton Market. [Crain’s]

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