Tom’s Recommended Reading for the Week
Check out the top news in Chicago commercial real estate before heading into the weekend!
- CRE Execs Feeling “Bullish” on US – DLA Piper just released its “State of the Market Survey” at its 12th Global Real Estate Summit in Chicago this week, and of the commercial real estate executives surveyed, 89% were “bullish” on the prospects for the US economy. This was slightly higher than last year, when 85% responded optimistically, and even higher than in 2007, when 77% did so… Globe St.
- For sale: Another $1.8 billion of office towers – More downtown office landlords are hanging up For Sale signs, an end-of-summer tradition getting an extra boost this year from an unusually strong investment sales market in Chicago.Five more buildings with an estimated combined value of about $1.8 billion are going on the market, according to people familiar with the properties… Crain’s Chicago
- Is this the start of office building boom in the Loop? – Nothing shapes perceptions of a city like its skyline, and nothing defines a skyline like towering office buildings. Successive waves of office construction over the past 30 years added striking new features to Chicago’s profile, showcasing a vibrant commercial hub… Crain’s Chicago
- Tech Turns Chicago Skid Row Into Top Market – Chicago’s River North, a district once notorious for its prostitutes and dilapidated warehouses, has become one of the hottest office markets in the U.S. The neighborhood has transformed from a wasteland in the 1970s to a trendy spot for living, dining and entertainment that’s also attracting technology tenants… Bloomberg
- West Loop Gets Another Tech Firm – The West Loop has become the CBD’s hottest office market and one of the reasons is the desire of many tech firms to find a downtown home. And Newark element14, an electronics and engineering firm, is just the latest tech company to make this move after spending the last 34 years in Ravenswood on the North Side… Globe St.