Loft office building in West Loop changes hands
MB Real Estate is set to buy a vintage West Loop loft office building. The Chicago firm has a deal to pay Ameritus Real Estate Investment Management and Alcion Ventures $36 million for the seven-story building at 549 West Randolph Street. Chicago-based Ameritus and Boston-based Alcion paid $19.4 million in 2015 for the building and spent $4.6 million on renovations. The building is about 15 percent vacant. [Crain’s]
Uptown mansion from noted architect up for sale
A historic Prairie School-style mansion in Uptown is on the market. The five-bedroom home at 750 West Hutchinson Street was designed by noted Prairie School architect George Maher and sits on a block with many other Prairie-style homes designed by Maher. The home, on the equivalent of six city lots, is asking $4 million. Sophia Worden of Berkshire Hathaway HomeServices KoenigRubloff Realty has the listing. [Curbed]
Antioch awards tax incentives to keep manufacturer in town
Antioch village officials are giving a local business property tax incentives to build a new facility in town instead of moving north to Wisconsin. The village will give up to $3.5 million in tax rebates over 10 years to Fischer Paper Products, which was founded in the village in 1972 and has been at 179 Ada Avenue since 1979. The maker and distributor of paper products will use the money to help fund a $35 million effort to buy 17 acres and build a 165,000-square-foot facility at the Antioch Corporate Center. The complex eventually could be expanded to 300,000 square feet. [Daily Herald]
“Guild Row” project aims to reuse North Side warehouses
Three alums from the Harvard School of Design are converting a row of old warehouses near the Chicago River into a “social club” that will house workshops, an event space and more. The $4 million “Guild Row” project at 3130-38 North Rockwell Street is expected to be completed by the fall, according to founders Jim Lasko, Mike Healy and Elyse Agnello. Among its features will be an industrial kitchen, woodworking shop, tool library, cafe, lounge and more. [Block Club]
Loop office building hitting the market — again
Ivanhoe Cambridge is looking to sell a 38-story Loop office tower that’s sold three previous times in the past nine years. The Montreal-based firm is seeking $230 million for the tower at 180 N. LaSalle Street, three years after it bought the building for $199 million with Chicago-based Callahan Capital. The partners spent nearly $9 million on renovations before Ivanhoe acquired Callahan in September. The building previously sold for $72 million in 2010 and $126 million in 2014. [Crain’s]