Blackhawk flips condo at No. 9 Walton, Arena begins new life at Planning Department: Daily digest

A daily round up of Chicago real estate news, deals and more for September 30, 2019.

TRD CHICAGO /
Sep.September 30, 2019 04:15 PM

Every day, The Real Deal rounds up Chicago’s biggest real estate news, from breaking news and scoops to announcements and deals. We update this page throughout the day, starting at 10 a.m. Please send any tips or deals to [email protected].

This page was last updated at 4:15 p.m. CT

 

Three-time Stanley Cup winner Jonathan Toews of the Chicago Blackhawks flipped his Gold Coast apartment for $6.95 million Monday. The four-bedroom condo, located at No. 9 Walton, is over 4,400 square feet with 600 feet of outdoor terrace. He bought the space in September 2018 for $6.45 million and it went into contract nine months later. It was on the market just 48 days. [Crain’s]

 

Chicago media columnist Robert Feder sold his Ring Court home to a rehabber via Facebook last week. The 2,900-square-foot home was sold for $290,000 — less than the $433,500 Feder paid in 1999. After consulting with a broker about the renovations needed to sell the house, Feder decided it would be challenging to put the house on a public market. [Crain’s]

 

Four months after losing his City Council seat, former 45th Ward Ald. John Arena began as a senior adviser in the Chicago Planning Department. The former alderman will push for real estate development initiatives in the South and West sides. Old enemies on the City Council spoke out against the appointment. Arena will make over $123,000 a year. [The Daily Line]

 

The Entrepreneurs of Color Fund, expanded significantly last week with the infusion of $3.6 million in additional investment by six new partners: First Midwest Bank, U.S. Bank, The Coleman Foundation, McCormick Foundation, The Chicago Community Trust and Providence Bank & Trust. The fund, launched last year, gives loans to businesses in areas of the South and West Side, with slowed economic growth. [Block Club]

 

A former bodyguard of the Nigerian president is leading a group of 29 holdouts striking against Cambria Chicago Magnificent Mile hotel, managed by Fillmore Capital Partners. Cambria’s owners have lost an estimated $300,000 over the thirteen months the strike has been going on, according to union organizers. [TRD]

 

WeWork announced they will delay their IPO to focus on business operations. The company planned to balance their financial losses with the $9 billion they hoped to make in the public offering. New company leadership has yet to announce another solution. [TRD]

 

Alderman Jim Gardiner is withholding support for The Point at Six Corners. Gardiner said he would not approve new plans for the $130 million mixed-use development, based on community feedback he has received. The development plan includes 103 independent living apartments, 148 assisted living and memory care apartments, 10 on-site affordable housing apartments and 215 off-street parking spaces. [Block Club]

 

The Cook County Board approved the purchase of a Blue Island building for its new healthcare clinic. One of two county commissioners to vote against the $15.3 million project, Sean Morrison, (R-Palos Park), suggested politics may be at play. He cited political donations that the manager of the LLC who sold the building made to other commissioners. [Sun Times]

 

Aon board chairman Lester Knight and his wife, Rebecca, sold their six-bedroom Winnetka mansion. The couple, who sold it for $3.25 million, paid $2.99 million for the home on Thorntree Lane in 1993. That’s about $4.88 million in today’s dollars. It is one of many suburban Chicago mansions that has seen lower sales over the last year. [Crain’s]

 

Belgravia Group’s 18-story “Renelle on the River” condo opens in River North. Located at 405 N. Wabash Avenue, it has 50 condos ranging from 1,500 to 2,500 square feet. Eighty percent of the units have been sold. [Curbed]

 

Internet search history revealed the Palatine man who drove his SUV through the Woodfield Mall earlier this month had searched for details about the mall about 100 times. The man, Javier Garcia, allegedly looked at the types of stores in the mall and clicked on aerial views of the property hours before the incident. [Chicago Tribune]

 

Blackstone is buying Colony Capital’s national warehouse portfolio for $5.9 billion. The portfolio spans 60 million square feet across 465 warehouses in 26 markets. Areas of strong concentration include northern New Jersey, California, Florida, Dallas and Atlanta. [TRD]

 

SoftBank is bringing on Sprint’s former CEO to help turn around WeWork. SoftBank head Masayoshi Son has asked Marcelo Claure to take a more hands-on role at the company after the recent ouster of co-founder and CEO Adam Neumann. His exact role has not been specified, but he would focus on opportunities to cut costs and increase revenues. Senior WeWork executives Sebastian Gunningham and Artie Minson have been appointed co-CEOs of the company. [Bloomberg]


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