Tom’s Recommended Reading for the Week
Check out the top Chicago commercial real estate news before heading into the weekend!
- Chicago 14th for real estate investors in survey – Real estate investors like Chicago, but it doesn’t set their hearts aflutter like Seattle, Boston and Houston. Real estate executives ranked Chicago 14th among 75 U.S. markets for investment attractiveness in 2015, according to the “Emerging Trends in Real Estate” report, an annual publication by the Urban Land Institute and PricewaterhouseCoopers LLP… Crain’s Chicago
- Most precious thing in downtown Chicago? Dirt – As high-rise developers keep stamping out more apartments and condominiums, they are paying up for a key—and scarce—raw material: dirt. In Chicago’s strongest neighborhoods, prices of development sites have eclipsed precrash levels, fueled by an apartment and hotel construction wave and a resurgent condo market… Crain’s Chicago
- River North development adds office space – Looking to capitalize on a tight River North office market, the developer of a retail building added an office component to its plans. Chicago-based Midwest Property Group Ltd. is seeking office or showroom tenants for 22,000 square feet in a three-story structure it plans for the corner of LaSalle and Hubbard streets. The developer previously disclosed plans for a two-story, 20,000-square-foot retail building on the site, where it has an 85-year ground lease… Crain’s Chicago
- Suburbs Still Appeal to Some Office Tenants – Suburban office markets have lately received a bad rap, but some supporters say that outside markets are now the places to find the best deals and locate new satellite offices. Suburbs across the country have been struggling to recover from the recession and the flight to urban CBDs that followed… NREI
- Venture Investors Splurge On Real Estate Tech – Investments in real estate tech are on the upswing in the wake of some billion dollar exits this year. Following Zillow’s acquisition of Trulia for $3.5 billion in July and News Corp’s $950 million purchase of Realtor.com-parent Move Inc. in September, venture investors are more eager than ever to get in on the market, putting up nearly $300 million in over 30 venture deals for real estate tech startups in the past quarter… TechCrunch