Lakeside Property

Why nobody needs to fill this lakefront property, how one Prepare dinner County girl saved 1.1K …

Day-after-day, The Actual Deal rounds up Chicago’s greatest actual property information, from breaking information and scoops to bulletins and offers. We replace this web page all through the day, beginning at 10 a.m. Please ship any ideas or offers to [email protected]

 

They purchased a parking storage the dimensions of the Willis Tower for $370 million. However they’ll’t fill it. That’s the conundrum dealing with the three way partnership that purchased the Millennium Lakeside Storage beneath Maggie Daley Park. Northleaf Capital Companions and AMP Capital want to convert unused house right into a warehouse, however there aren’t any takers but. [Crain’s]

 

Mayor Lori Lightfoot and Toni Preckwinkle

Mayor Lori Lightfoot and Toni Preckwinkle

Mayor Lori Lightfoot will co-host a Prepare dinner County Democratic Social gathering fundraiser with board president Toni Preckwinkle. The Nov. 5 fundraiser can be held on the Hilton on Michigan Avenue. Ticket costs vary from $200 all the way in which as much as $25,000. Actual property figures turned out in droves to boost cash for Joe Biden throughout his latest journey to Chicago. [Chicago Tribune]

 

The housing market in Naperville is susceptible to a downturn, in response to a brand new examine. On-line web site GoBankingRates, which performed the examine, discovered that house costs have dropped greater than 2 % prior to now two years. Nearly 1 / 4 of houses had value cuts. Eight different Illinois cities made the highest 50 record. [Chicago Tribune]

 

One particular person is chargeable for over 1,100 owners receiving decrease property tax assessments in New Trier Township. Jane Goldberg satisfied Prepare dinner County Assessor Fritz Kaegi to consider how the floodplain impacts property values. A lot of houses had bought at solely half of their assessed worth earlier than the change was made. [Chicago-Sun Times]

 

@properties names new workplace managers within the suburbs. Tamy Bobbitt, who jumped from Baird & Warner, will lead a brand new workplace within the Hinsdale space. Jorge Abreu, who’s been with the brokerage since 2012, will handle the Highland Park workplace. Grace Goro Kaage was lately chosen to run the Streeterville workplace. [Chicago Agent Magazine]

 

SoftBank is pushing for Adam Neumann to be ousted as WeWork’s CEO. The financial institution is WeWork’s largest investor however has turn out to be pissed off with Neumann’s habits, the corporate’s troubled plans for an preliminary public providing and its hemorrhaging losses, in response to The Actual Deal. Neumann and different executives didn’t anticipate such a unfavorable response to the corporate’s IPO prospectus final month and have since mentioned they are going to delay WeWork’s IPO. They’ve made different modifications as nicely, however some critics keep they aren’t sufficient. [TRD]

 

Fannie Mae and Freddie Mac may begin maintaining their earnings once more this week. The anticipated settlement between the pair of mortgage finance firms and the Trump administration could be a serious step towards letting the companies construct up capital and function as non-public firms once more, in response to the Wall Avenue Journal. They might be allowed to maintain about one yr’s value of revenue ($20 billion) beneath the deal, years after the federal government primarily nationalized them following the 2008 monetary disaster. [WSJ]

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