Chicago Commercial Real Estate – In the News

Tom’s Recommended Reading for the Week

  1. Companies Trade Suburbs for City Life – Earlier this month, online travel agency Expedia Inc. said it plans to relocate its headquarters from a Seattle suburb that it has called home for nearly 20 years to the city’s downtown. That announcement was the latest in a string of high-profile companies making moves from the suburbs back to the city... Wall Street Journal
  2. In Real Estate Tech Firms, Europe Plays Catchup With U.S. – Startups in Europe’s real-estate market that offer virtual-reality tours, online leasing marketplaces and other technology services are catching investors’ eyes, but they will have to outmuscle more established, better-funded U.S. companies to succeed. London-based Virtual Walkthrough offers real-estate agents and developers digital visits of properties for sale or rent. The company secured its first £800,000 ($1.2 million) of funding in January 2014, said co-founder James Morris-Manuel… Wall Street Journal
  3. Measuring Up: The Long and Short of IPMS for Office Buildings – So, just how big is your building? Did you know that your property could shrink or grow in size simply depending on where it is located? Historically, commercial property has been measured differently throughout the world. According to research by global property giant JLL, depending on the measurement standard used, the area quoted in different markets for an equivalent building could vary by as much as 24 percent… NREI
  4. Preservationists, building owners debate Fulton Market historic district – Preservation groups voiced support Thursday for a city proposal to create a historic landmark district in the booming Fulton Market area, Chicago’s surviving wholesale food market. But many business and property owners oppose the designation because of the restrictions it would place on their ability to develop buildings… Chicago Tribune
  5. WeWork bringing its model of larger coworking spaces to Chicago – The total membership of WeWork would fill many a Chicago suburb. The New York-based coworking company, a startup that boasts 25,000 members worldwide, has elbowed its way into an already busy Chicago market, planning to open a space in River North at 111 W. Illinois St. on Friday. Later this year, the company will open six floors of space in the West Loop at 210 N. Green St., further evidence of a coworking movement that’s tapping into the needs of larger and more diverse organizations, industry experts said… Chicago Tribune