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Chicago Commercial Real Estate – In the News

Jill’s Top 5 Articles From This Week

  1. As experienced real estate professionals can attest, one of the things that make the industry so fascinating is that real estate is, to a large extent, a direct reflection of society: broader social, cultural and professional trends are oftentimes the driving force behind emerging real estate trends. – Globe St.
  2. The growing desire among consumers for specially-crafted beers is creating a new niche in the world of commercial real estate, and Chicago is leading the way. That metro area’s craft beer industry had a a 65.9% growth rate between 2013 and 2014, and included 144 existing breweries and 39 others in the planning stage, making it the top craft beer market in the country, according to a new national market study. – Globe St.
  3. Many Chicago-area tech firms have recently decided to move their operations downtown to take advantage of city’s huge collection of talent. But some others believe that they can take advantage of what both city and suburbs offer. Brainlab, Inc., a Munich-based medical technology firm, has a newly designed office space at 5 Westbrook Corporate Center in suburban Westchester, and earlier this year it expanded its presence into downtown Chicago by opening a new state-of-the-art customer training center in the iconic Wrigley Building. – Globe St.
  4. The developer of a 52-story office tower rising along the Chicago River has scored two more tenants about a year before the building is expected to open. River Point, a high-rise at 444 W. Lake St., is now 70 percent pre-leased after adding two new tenants, developer Hines Interests confirmed. – Crain’s Chicago
  5. For years people have talked of turning Chicago into a “Silicon Prairie” meant to rival the nation’s coastal tech hubs, and even though it still can’t quite compete with the actual Silicon Valley, the city has recently emerged as a truly mature tech market. – Globe St.