Chicago Cheat Sheet: Houston developer eyes Schaumburg office park for apartments

Also, construction firm signs big lease expansion at Loop office tower

Chicago /
Jun.June 03, 2019 05:00 PM
Finger Development President Marvy A. Finger and Discovery Office Park (Credit: Google Maps)

Finger Development President Marvy A. Finger and Discovery Office Park (Credit: Google Maps)

Finger Development wants to replace offices with rentals in Schaumburg

A Houston-based developer wants to demolish the Discovery Office Park in Schaumburg and replace it with a 373-unit apartment building. Finger Development has asked for a zoning change to allow the four-story, 444,000-square-foot Algonquin at Old Plum Grove rental complex at 1014 East Algonquin Road. The plan calls for 275 one-bedrooms and 98 two-bedrooms, ranging from about 688 square feet to 1,200 square feet. If approved, Finger hopes to start construction later this year. [Daily Herald]

Burns & McDonnell adds full floor at 200 West Adams Street

A Kansas City-based engineering, design and construction company signed a big lease expansion in a Loop office tower. Burns & McDonnell is adding a full floor to its roughly 50,000 square feet at 200 West Adams Street, bringing its total space to 80,000 square feet. The deal makes the firm the second-biggest tenant in the building owned by Portland, Oregon-based Gerding Edlen. Cushman & Wakefield’s Matt Lerner and Jack McKinney Jr. represented Gerding Edlen while Matt Carolan, Meredith O’Connor and Kevin Connors of JLL represented Burns & McDonnell. [Crain’s]

Plumbing company signs big lease expansion in Addison

Ferguson Enterprises signed a long-term lease renewal that will see it add nearly 50,000 square feet in an industrial building in Addison. The wholesale distributor of plumbing and HVAC supplies will now rent nearly 310,000 square feet at 880 South Rohlwing Road. Lee & Associates’ Jeff Janda, Jeff Galante and Tim McCahill represented the owner, Link Industrial Properties, in the lease negotiations, while Kevin Segerson and Tom Sorrell of CBRE represented Ferguson Enterprises. [REJournals]

Radio stations moving in to Gurnee Mills

Four radio stations are moving in to Simon Property Group’s Gurnee Mills and will be broadcasting live from studios in the outlet mall by the end of the year. Alpha Media will move two stations from Waukegan and two from Pleasant Prairie, Wisconsin into the mall. The deal will require the existing Dollar World store to move to another space in the mall and the closing of Latin Snacks. The stations are adult contemporary WXLC-FM 102.3; WKRS-AM 1220, which now broadcasts Spanish language sports through ESPN Deportes; WIIL-FM 95.1, a rock station known as “95 WIIL Rock;” and news/talk WLIP-AM 1050. [Lake County News-Sun]

$10M effort seeks to bring Bronzeville back to glory

Developer Urban Juncture is leading a more than $10 million effort to revitalize the Bronzeville neighborhood. The “Build Bronzeville” initiative is centered around 51st Street and Prairie Avenue and includes the “Boxville” outdoor mall made up of shops inside shipping containers.

The initiative also includes the FriiStyle restaurant that specializes in Belgian-style pommes frites, the Bronzeville Incubator a co-working space, the Bronzeville Community Garden and The Forum, a once-popular 43rd Street jazz club. [Block Club]


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