Chicago Cheat Sheet: Logan Square sees biggest property tax surge of any neighborhood

Also, San Francisco investor makes first Chicago acquisition with two South Shore rental properties

TRD CHICAGO /
Jul.July 25, 2019 05:00 PM
The Illinois Centennial Monument in Logan Square

The Illinois Centennial Monument in Logan Square

Logan Square tops in Chicago for rising property taxes
Property taxes surged more in Logan Square last year than in any other neighborhood, according to Ald. Carlos Ramirez-Rosa (35th). Ramirez-Rosa said data from the Cook County Assessor’s office showed a 24 percent increase in the median tax bill in the neighborhood, more than 10 times the citywide average of 2.2 percent. Uptown was second at 19.9 percent and Bronzeville third at 13.7 percent. All three neighborhoods have seen a surge in interest from builders and developers in recent years. [Block Club]

South Shore apartments sold to San Francisco investors
Belveron Partners bought two apartment buildings in South Shore for $16.8 million. The San Francisco-based investor picked up the 178-unit Shorewind Towers at 7000 South Shore Drive and the 60-unit Shorewind Court at 6951 South Oglesby Avenue from TLC Management. The buildings are Belveron’s first acquisitions in Chicago. Interra Realty’s Joe Smazal, Lucas Fryman, Jon Morgan and David Goss represented TLC. Interra’s Pat Kennelly and Paul Waterloo represented Belveron. [Crain’s]

CA getting a piece of hot O’Hare industrial submarket
CA Industrial is developing a 146,000-square-foot spec industrial building on 7.1 acres in Elk Grove Village. The industrial development branch of Chicago-based CA Ventures plans to have the building at 550 East Devon Avenue finished by early next year. Palatine-based Harris Architects designed the building, and the general contractor is Chicago-based Pepper Construction. [REJournals]

Crayton office project would add to West Loop building boom
Crayton Advisors plans a 12-story office building in the West Loop. The Chicago developer unveiled plans for the building at 310 South Green Street this week. The project from FitzGerald Associates Architects will include 101 parking spaces. The building would join other Crayton office properties at 820, 833 and 850 West Jackson Street and 322 South Green Street. The project still needs city approvals. [Block Club]

ICM looks to refresh Lakeview rental offerings
ICM Properties plans to raze four apartment buildings it owns in Lakeview and replace them with a new rental complex. All of the buildings in the 3300 block of Kenmore Avenue are from the 19th century with the oldest dating to 1879. ICM plans to build two new six-flats on the site of the demolished buildings, along with two two-story buildings in the back. It’s unclear if those buildings will have units in them. [Crain’s]


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