State: Illinois - IL

Half of all data-center operators reported that their properties had experienced power outages within the past three years, according to data compiled by the Uptime Institute. That was down from 53% in 2024.

Commercial Real Estate Direct Staff Report The appraised value of the 781,426-square-foot office property at 10 South LaSalle St. in Chicago has been reduced once again, this time to $27.2 million. Last September, the property had its value slashed by 81.9% ...

Commercial Real Estate Direct Staff Report Arbor Realty Trust has provided $125.25 million of agency financing to facilitate the purchase of the 1,115-unit Pavilion Apartments in Chicago. Earlier this month, R.I.G. Capital paid $167 million, or $149,775/unit, to purchase the ...

Crain's Chicago Business Vinayaka Hospitality has paid $43.2 million, or $128,955/room, for the 335-room Blackstone Hotel in downtown Chicago. The Schaumburg, Ill., hotel manager acquired the property, at 636 South Michigan Ave., from a venture of Fundamental Advisors and Sage ...

Crain's Chicago Business Tishman Speyer is offering for sale Union West, a 357-unit apartment property in Chicago. The New York investment manager hired CBRE to market the property, which it bought in 2023 for $128 million. At the time of Tishman's ...

Commercial Real Estate Direct Staff Report New York Life Insurance Co. has provided $141.82 million of financing against the 509-unit Wolf Point West apartment property in Chicago. The three-year loan was arranged by JLL Capital Markets. It allowed the 48-story ...

Commercial Property Executive AKIRA has agreed to extend its 202,105-square-foot lease at Crossroads Parkway, a 352,338-sf industrial property in Bolingbrook, Ill., a southwestern suburb of Chicago. The fashion retailer, which has occupied space at the property since 2021, was represented ...

Crain's Chicago Business The 691,410-square-foot office building at 2 North LaSalle St. in Chicago has been brought to the sales block by the bondholders that took control of it two years ago. Torchlight Loan Services, the special servicer representing the ...

Commercial Real Estate Direct Staff Report Washington Capital Management Inc. has paid $41 million, or $1,901/sf, for the 21,565-square-foot retail portion of 500 North Michigan Ave. in Chicago. The Seattle investment manager bought the space from an investor group led ...