Chicago Commercial Real Estate – In the News

Tom’s Recommended Reading for the Week

With the Olympics rounding up its first week, here are my 5 articles to start off your weekend. Enjoy!

  1. The Science of Office Design  – Revelations in the realm of neuroscience, social science and behavioral science are all having a profound influence on workspace design. As researchers continue to pinpoint the cognitive impact of individual architectural elements, we can alter our environment accordingly… Entrepreneur
  2. South Michigan Ave. Market Transforming – The recent sale of 200 S. Michigan Ave. by Equus Capital Partners, Ltd., for $69 million is yet another sign that the office market on S. Michigan Ave. has changed in the past few years. Although the sleek 22-story tower stands out a bit from its older neighbors, Joseph Neverauskas, senior vice president and head of Equus’ Chicago regional office, says the upgrade in its tenants since the private equity fund manager took over the building in 2000 reflects a neighborhood trend… Globe St.
  3. Sam Zell joins in battle for control of office landlord- Chicago real estate billionaire Sam Zell and a top lieutenant have jumped into the battle for control of CommonWealth REIT, a Massachusetts-based office landlord that is under attack by two dissident shareholders. The New York-based shareholders, real estate firm Related Cos. and Corvex Management L.P., a hedge fund led by Keith Meister… Crain’s Chicago
  4. Wrigley Building owners look to lure technology companies – Since 1924, the lights illuminating the white face of the Wrigley Building have almost continually shone. Now, the building’s owners want to shift the spotlight onto the tech companies they see as emblems of the future.”The Wrigley Building is a Chicago icon, and the technology community is quickly becoming iconic in its ability to create jobs,” entrepreneur Brad Keywell said… Chicago Tribune
  5. Open Offices: Bad for Health, Efficiency? – Perhaps the most prominent fad in the world of commercial office space is the attempt to attract millennial workers by reconstructing traditional workplaces into open, collaborative spaces. In Chicago, the new strategy has been especially popular among tech companies and those involved in creative work such as advertising and most visible in the West Loop and River North submarkets where many of these firms have settled… Globe St.