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Chicago Cheat Sheet: Mansion sells at steep price cut after 6 years on market…& more
Also, $30M senior living community wins approval in Des Plaines
Hinsdale mansion sells at huge discount
A 10,000-square-foot Hinsdale mansion sold for less than a third of its original asking price after six years on the market. Former McDonald’s executive Mats Lederhausen and his wife, Jessica, bought the land at 900 South Elm Street in 2004 for $2.5 million then built the lavish six-bedroom home. The home sold Wednesday for less than $3 million. The couple first put the house on the market in March 2013 at $9.5 million. Dawn McKenna of Coldwell Banker had the listing. Anna Rapciak of Century 21 Affiliated represented the buyers, who were not listed in public records. [Crain’s]
Senior living project approved for Des Plaines
Des Plaines officials approved plans for a $30 million senior living community. Plum Creek Communities plans to build a six-story “hotel-style” apartment complex with 52 one-bedrooms and 48 studios at 915 Lee Street. Among the amenities will be an onsite doctor and nurse. The company also has a location in Rolling Meadows. [Daily Herald]
Treasury awards $85M in tax credits to distribute in Chicago
The U.S. Treasury Department has awarded two local organizations $85 million in New Markets Tax Credits to use for projects in Chicago. The Southside Community Optimal Redevelopment Enterprise will get $35 million in credits while the Urban Development Fund will receive $50 million. The organizations use the credits to attract investors to projects designed to improve local communities. The Urban Development Fund uses the money to develop retail, office space and industrial facilities in economically distressed areas. The South Side organization, part of McCaffery Interests, provides financing to projects that improve services and add jobs to low-income communities. [Crain’s]
ACCO Brands inks lease extension for Lake Zurich HQ
A supplier of academic, consumer and business products agreed to a long-term lease extension for its headquarters in Lake Zurich. ACCO Brands leases 189,000 square feet at 4 Corporate Drive in the Kemper Lakes Business Center. The four-building complex has a total of 1.1 million square feet on 164 acres. Cushman & Wakefield’s Lou Hall and Dan Wilkins represented ACCO in the lease deal. [Daily Herald]