Monthly Archives: February 2012

Angel investors betting on Chicago’s tech startups

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More good news for Chicago entrepreneurs, particularly those working in the tech sector.

According to a story in this week’s Crain’s Chicago Business, Chicago tech startups received $16.1 million in angel investment last year, up more than 38 percent from 2010. The growth here rate far outpaces the overall national trend. Across the U.S., “angels” upped their… Read More

150 N. Michigan Ave. on the block

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The Jones Lang LaSalle Chicago Investment Sales Team announced earlier this week that they have been hired by the owners of 150 N. Michigan Avenue (formerly the Smurfit-Stone Building) to offer the building for sale.

JLL’s Bruce Miller tells Crain’s Chicago Business that the offering is yet another sign that investors are getting off the sidelines:

“[The current

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Chicago property managers prepping for NATO/G8 summits

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While it remains to be seen whether mass protests will wreak havoc on Chicago as they have in other host cities of the G8 and NATO summits in years past, Chicago’s property managers are leaving nothing to chance.

As detailed in this article by Ryan Ori in today’s Crain’s Chicago Business, Chicago’s top property management… Read More

Plans to upgrade Civic Opera Building could shake up CBD office landscape for large users

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The news today that New York-based Berkley Properties has acquired the 915,000-square-foot Civic Opera Building has the potential to shift the prevailing market dynamics for large users in the downtown office market.

This story from Crian’s Chicago Business describes how the building’s new owners are planning a massive upgrade of the building’s interior  in order to woo larger, blue-chip type tenants.

JLL’s Bobby Goodman, who represents… Read More

LIVE BLOG: BisNow Chicago Retail Summit

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JLL’s Mark Hunter is among five participants in the headline panel discussion at this morning’s BisNow Retail Summit at the Metropolitan Club:

8:20 a.m. – Hunter on the lack of new retail development: “What we’re going to see is a lot of redevelopment and infill development moving forward.”

8:25 a.m. – Hunter on future of regional malls: “There’s been a lot of carving up… Read More

Lenders bullish on office, industrial and hotel construction

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Is commerical construction lending poised for a comeback in 2012? 

Dave Hendrickson, Managing Director of JLL’s Real Estate Investment Banking Group in Chicago, says the positive momentum seen in the multi-family sector last year should carry over into the office, industrial and hotel sectors this year. Life companies and CMBS lending will lead the way, he says.

Check out this interview with Dave from the ongoing 2012 MBA CRE Finance Convention and Expo… Read More

Construction lull, rising employment levels foreshadow higher office rents on the horizon

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Could landlords soon be gaining the upper hand in downtown Chicago?

This story from today’s Wall Street Journal suggests that a nationwide dearth of new office construction could foreshadow rising rental rates in the near term if employment levels continue their slow but steady climb.

In Chicago, rental rates have held relatively steady since about 2009. But with no new office  inventory to hit the market… Read More

View space: 500 W. Monroe

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View looking north from inside 500 W. Monroe, where GE Capital recently signed one of the largest office leases of 2011.

Click here to read more about their expansion at this million-square-foot trophy building, which was recently acquired by Piedmont Office Realty Trust.

NOTE: This is the latest in an occasional look at some of city’s best office views.

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Surge of industrial CRE activity expected from food and beverage makers

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Earlier this week, Chicago-based Bel Brands USA — maker of snack cheeses under the Baby Bel, Laughing Cow, Merkt’s and Kaukauna brands, among others — announced plans to build a new $100 million production facility in South Dakota.

The project is being led by a JLL team that includes Kris Bjorson, Dan Maslauski, BrianRead More

JLL nominated for 5 awards at upcoming Greater Chicago Food Depository CRE Awards Dinner

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The JLL Chicago team has been nominated for five awards at the upcoming 24th Annual Greater Chicago Food Depository Commercial Real Estate Awards Dinner, better known as the “Academy Awards of the Chicago CRE Industry”:

  • Office Broker of the Year
  • Investment Sales Broker of the Year
  • Landlord Leasing Broker of the Year
  • Innovative Deal of the Year
  • Property
  • Read More