Chicago Cheat Sheet: Former United Air exec sells Kenilworth mansion…& more

Ryan Homes ditching townhomes project in Elgin for more houses
By John O’Brien | May 13, 2019 05:00PM

John Rainey and 537 Abbotsford Road (Credit: LinkedIn and @properties)

John Rainey and 537 Abbotsford Road (Credit: LinkedIn and @properties)

Former airline exec finally sells North Shore mansion

A former chief financial officer of United Airlines sold his Colonial-style mansion in Kenilworth after three years on the market. John D. Rainey Jr., now an executive at PayPal, and his wife, Kelly, bought the 7,200-square-foot home at 537 Abbotsford Road for $2.7 million in 2011. They first listed it at $3.3 million in 2016, and reduced the asking price nine times before selling it recently for $2 million. Kelly Mangel of @properties had the listing. [Chicago Tribune]

Ryan Homes’ Elgin subdivision sticks to houses

Ryan Homes won city approval to ditch 333 townhomes in the Highland Woods subdivision in Elgin in favor of 129 more single-family houses. The developer originally planned the townhomes along with 833 single-family homes on the 566-acre site at 3650 Highland Woods Boulevard. But the developer asked Elgin officials for permission to change the plans due to changing market trends. [Courier-News]

Sterling Bay plans spec warehouse project

Sterling Bay is going ahead with plans for a spec warehouse in Darien, even after failing to win the village’s approval for a taller building. Contractor Premier Design + Build Group broke ground last week on the 153,000-square-foot near Interstate 55 and Cass Avenue. The building is expected to be finished by November. Sterling Bay last year sought a zoning variance to build a taller structure, but officials rejected it. [Daily Herald]

South Side getting its first Trader Joe’s

Trader Joe’s is opening its first store on the South Side, taking over part of a former Treasure Island Foods location in the Hyde Park Shopping Center at 1526 East 55th Street. The store is expected to open in the fall, according to the University of Chicago’s Commercial Real Estate Operations group. Treasure Island closed all seven locations last year. [Block Club]

Pete’s Fresh Market on big expansion push

Local grocery chain Pete’s Fresh Market is looking to add six new stores within the next three years. The privately owned firm recently opened its 14th store in a former Whole Foods Market in Wheaton, and plans to open two more in Glen Ellyn and Lemont this year. It plans to open locations in Matteson, New Lenox, Oak Park and Oak Lawn in the next few years. Pete’s owns all but one of the properties where it has stores. [Chicago Tribune]