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Chicago Cheat Sheet: Cisco eyeing big lease at Old Post Office…& more
Also, Sterling Bay cut ribbon on its 200-key Hyatt House hotel in Fulton Market
601W could score another big tenant for Old Post Office
Cisco Systems is reportedly eyeing a 130,000-square-foot lease in the Old Post office, the massive complex being redeveloped by New York-based 601W Companies. If the lease is finalized, Cisco would move its employees from its current offices in Rosemont. Last year, Cisco signed a lease for 33,000 square feet of office space across the street from the post office. 601W has leased 540,000 square feet of the 2.5 million-square-foot post office building. [Crain’s]
Sterling Bay toasts completion of Hyatt House in Fulton Market
Leaders of Sterling Bay and Skender cut the ribbon Thursday on the 14-story, 200-key Hyatt House Hotel they built a block from McDonald’s Fulton Market headquarters. When the hamburger giant left behind its Oak Brook headquarters, it lost a hotel within its corporate campus. The Hyatt House includes 67 extended-stay rooms for enrollees at McDonald’s Hamburger University, a training program for restaurant managers. [Curbed]
Old Lisle village hall is now luxury apartments
Naperville-based Marquette Companies unveiled its redevelopment of the former Lisle village hall, which the developer turned into 202 luxury apartments with 14,000 square feet of retail space. Marquette Companies is also planning 512 apartments for the western edge of Fulton Market. [Daily Herald]
Tone Deaf Records opens in Portage Park
Tony Assimos set out to open his new record store at 4356 North Milwaukee Avenue after rent got too expensive for his previous shop, Raffe’s, in Logan Square. The store, which opens Saturday, will carry more than 12,000 albums, plus CDs and T-shirts, with prices ranging from 25 cents to $250. [Block Club Chicago]
Geneva prepares belated push for more affordable housing
Local officials took a step this week toward a plan to juice construction of affordable housing in west-suburban Geneva, where one report found only 5 percent of homes are affordable. Five years after the city adopted a plan identifying more than 20 sites where affordable housing should be built, market-rate homes have been built on nine of them. [Daily Herald]