Chicago

Chicago Title & Trust May Sign New Lease

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CHICAGO-Crain’s reports Chicago Title, the once-eponymous insurance company, could be leaving its current home.

SEB To Sell Michigan Avenue Office Tower

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CHICAGO-SEB bought the 661,477-square-foot 41-story building at 150 N. Michigan Ave. in 1999 for approximately $113.2 million.

Three Downtown Chicago Office Buildings On Block

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CHICAGO-GE Pension Trust is selling two properties in the Loop, expected to fetch approximately $210 million, while AREA Property Partners is selling 311 W. Monroe St.

Equity Raises Potential Archstone Bid to $1.5B

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CHICAGO-The Sam Zell-led local firm had a deadline coming up to make a bid for 26.5% of Archstone, but has extended the bid deadline to April. This likely begins a bidding war with Lehman Bros.

Freed Accedes, Keeps Stake at Sullivan Center

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CHICAGO-Troubled developer Joseph Freed, who lost control of Block 37 in a public fight last year, will now only keep a small interest in the former Carson, Pirie, Scott redevelopment.

Hyatt Plans ‘Significant’ Amount of New Hotels

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CHICAGO-The local hospitality firm, only two years public, looks to expand its properties in New York City and foreign markets, according to the CEO during a Q4 conference call.

Duke Realty Acquires 827,268-SF Warehouse in Naperville

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NAPERVILLE, IL-Indianapolis-based Duke Realty Corp. has acquired a fully leased warehouse in Naperville for more than $46 million.

New Big Box Wonder! Closes After Only Four Months

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DEERFIELD, IL-The new 135,000-square-foot children’s product superstore, which had planned 19 locations by 2016, claims financial problems for the shutter decision.

Duke Realty Acquires 827,268-SF Warehouse in Naperville

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NAPERVILLE, IL-Indianapolis-based Duke Realty Corp. has acquired a fully leased warehouse in Naperville for more than $46 million.

Tishman Speyer Sells Civic Opera Building for $126M

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CHICAGO-Tishman Speyer Properties LP has sold the Civic Opera Building, a 915,000-square-foot property at 20 N. Wacker Drive, to a subsidiary of Nanuet, New York-based Berkley Properties LLC for $125.8 million.

Fred Latsko Buys Former Ultimo Store on Oak Street

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CHICAGO-Fred Latsko has purchased the former Ultimo store at 116 E. Oak St. for $7.4 million.

Buca di Beppo To Open 10 Locations at GGP Malls

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CHICAGO-The restaurant, a division of Orlando-based Planet Hollywood, and the mall REIT announced plans to open the locations at malls in nine states, as Buca continues a growth plan.

Sterling Bay Buys West Loop Office Building for $10M

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CHICAGO-Sterling Bay Cos. has bought a West Loop office building for $10 million from a local group investors headed by James Connor.

Mesa, Walsh Pay Off $275M Loan for Legacy

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CHICAGO-The two investors have sold about half of the 356 condos at the Legacy at Millennium Park, and US Bank and Private Bank have now provided a new $60.6 million loan.

JLL Hotels Expects Another $15B Transaction Year

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CHICAGO-As REITs stay cautious, substitute capital will come from private equity, funds, institutions and foreign investors for an asset that has improved fundamentals.

Real Estate Still Best Investment Option for 2012

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CHICAGO-A joint study by locally based Real Estate Research Corp., Deloitte and the National Association of Realtors shows that CRE still provides the best return compared to other vehicles.

JSQ Commercial Buys JV Stake in Riverwalk II for $9M

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CHICAGO-Hamilton Partners, a developer based in Itasca, has sold a joint venture interest in Riverwalk II, a 259,000-square-foot office building in Buffalo Grove, for more than $9 million.

Formerly Troubled GGP Reports Sales Jump

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CHICAGO-The company reports core FFO increased because of higher rents and occupancy, and the ability for the firm to replace vacating tenants such as Borders.

LaSalle Investment, Quantum JV for $1B Plan

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CHICAGO-The venture is targeting investments in excess of $100 million, with an initial focus on major markets in Australia, France, Germany, the United Kingdom and the United States.

Cohen Predicts $800M for New Equity Practice

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CHICAGO-The locally based company has hired a few professionals around the country and partnered with New York City-based Artis Advisors.