Chicago Cheat Sheet: Hines’ $500M Oak Brook development hits roadblock…& more

Also, Host Hotels looking to shed 2 remaining suburban properties

TRD CHICAGO /
May.May 16, 2019 05:15 PM
Hines’ Greg Van Schaack and a rendering of the Oak Brook Commons project (Credit: Hines)

Hines’ Greg Van Schaack and a rendering of the Oak Brook Commons project (Credit: Hines)

Oak Brook officials hit pause on major redevelopment

Oak Brook officials sidetracked plans for a $500 million project on the former McDonald’s Plaza site over concerns that some of its apartments would be too small. The village board was to take up Hines Interests’ planned Oak Brook Commons near 22nd Street and Spring Road on Tuesday, but instead postponed a vote until at least May 28. Residents have objected to the project’s proposed 250 rental units, including some that could be as small as 675 square feet. Hines also is proposing 104 condos, a 252-room hotel, three restaurants, offices, retail and park space on the nearly 18-acre site. [The Doings] 

Host Hotels checking out of suburban Chicago market

Host Hotels & Resorts is looking to sell two Marriott Suites properties in the suburbs. The REIT is seeking $325 million for a six-hotel portfolio including the 256-key Chicago Marriott Suites O’Hare in Rosemont and the 254-key Chicago Marriott Suites Downers Grove. The other hotels are in Arizona, Georgia and California. The Rosemont and Downers Grover properties are the only two suburban hotels in Host’s six-property Chicago-area portfolio. [Crain’s]

Apartment project planned for Garfield Park

A nonprofit has been chosen to lead a project to redevelop a 1.5-acre vacant parcel in Garfield Park. The Garfield Green project was named a winner in C40’s global Reinventing Cities competition. The $22.3 million project will have 77 apartments, including 32 affordable units, 31 co-op units and 14 market-rate units. [Curbed]

Mundelein green lights senior living complex

Carriage Crossing Senior Living plans to build a new facility in north suburban Mundelein. Village officials have approved the company’s plans for a three-story building with 94 residential units on 7.5 acres near Midlothian Road and Courtland Street. Sixteen of the units will be for memory care. Construction is expected to start late next month and take about a year. [Mundelein Review]

Bickerdike’s Logan Square affordable project earns alderman’s approval

Bickerdike Redevelopment Corporation’s plan for a 100 percent affordable housing project in Logan Square is advancing after Alderman Carlos Ramirez-Rosa (35th) endorsed it. The nonprofit developer is planning a seven-story building at 2638 North Emmett Street with 100 units over ground-floor retail. Construction could start in January and finish in 2021. [Curbed]

Barnes & Noble downsizing in Schaumburg

The Barnes & Noble bookstore in Schaumburg is moving to a smaller location. The store will move from a 23,000-square-foot space at the Woodfield Plaza Shopping Center at 590 East Golf Road to a 14,000-square-foot storefront in the Woodfield Village Green Shopping Center at 1470B East Golf Road. The new, smaller location is closer to Woodfield Mall. [Daily Herald]


Related Articles

arrow_forward_ios
Brian Whiting, CEO of Telos Group, and the Old Post Office (Credit: Google Maps)

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world

Lonely at the top: 601W Cos. opens Old Post Office rooftop park in WFH world
Cars.com CEO Alex Vetter and the building (Credit: Google Maps)

Cars.com wants to shrink its space at West Loop HQ

Cars.com wants to shrink its space at West Loop HQ
Chicago developer Michael Moyer and the Congress Theater in Logan Square (LinkedIn; ThomasIrvin via Wikipedia)

Developer behind historic Congress Theater faces foreclosure

Developer behind historic Congress Theater faces foreclosure
Thor Equities’ Joseph Sitt and Palmer House Hilton at 17 East Monroe Street (Google Maps)

Thor’s Palmer House hit with $300M+ foreclosure suit

Thor’s Palmer House hit with $300M+ foreclosure suit
1532 W. Jackson Boulevard, and 1901 North Leavitt Street (Credit: Google Maps)

Where have all the Chicago luxury condo sales gone?

Where have all the Chicago luxury condo sales gone?
Bradford Allen is eyeing a bright future in the Chicago suburban office market. Principal and co-founder Jeffrey A. Bernstein, and 3333 Finley Road property in Downers Grove the firm is buying. (Google Maps)

Bradford Allen’s suburban office strategy: Buy

Bradford Allen’s suburban office strategy: Buy
Cook County Assessor Fritz Kaegi and downtown Evanston

Cook County landlords get bad news about 2020 taxes

Cook County landlords get bad news about 2020 taxes
Joe Sitt and 905 W. Fulton Market (Credit: Thor Equities)

Thor Equities’ big bet on Fulton Market is paying off

Thor Equities’ big bet on Fulton Market is paying off
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...