Category Archives: Hotels

Chicago 2025: Dynamic Expansion

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Chicago 2025

JLL’s Bruce Miller; GLP’s Paul Loosmann; Magellan’s David Carlins; JLL’s Dan Ryan, Ryan Severino and Meredith O’Connor; Oxford Capital Group’s John Rutledge; and The John Buck Company’s Dirk Degenaars at Chicago 2025: Dynamic Expansion.

Hundreds of industry leaders joined JLL Chicago last week to discuss Chicago 2025 and the city’s dynamic expansion. With 4,300 new hotel rooms planned, the lowest office vacancy in 16 years (10 percent), 4 million square feet of speculative industrial construction in the pipeline and 3 million square feet of office space headed to market, the next decade is going to be one for the books.

JLL Chief Economist Ryan Severino kicked things off with a broad-based market outlook, factoring in challenges of the past year from Brexit to an unexpected election result. Despite entering a 2017 filled with elevated policy uncertainty, the Chicago market’s universal truths are bolstering its investment appeal. Chicago’s still the third-largest metro economy in the U.S., with above average annual gross metro product growth and a diverse economy where no single industry comprises more than 20 percent of total employment. Going forward, our unusually high percentage of adults with undergraduate or graduate degrees will be of paramount importance in building on this economic momentum.

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JLL’s Chicago 2025 gallery wall, featuring the market’s hottest projects.

We’re definitely living in interesting times, agreed JLL International Director and panel moderator Bruce Miller. … Read More

Chicago 2025 market insights from JLL experts

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This week JLL Chicago will convene commercial real estate investors, clients and leading experts from throughout the city for Chicago 2025, our annual forecast. We sat down with JLL pros across asset classes ahead of the event for a preview of their sector-specific outlooks.

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The Chicago Athletic Association’s Transformation

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Shrouded in mystery since its completion in 1893 for the World’s Columbian Exposition, the Chicago Athletic Association (CAA), 12 S. Michigan Ave., was an exclusive private club until it closed in 2007. It sat dormant until 2012, when new ownership began an artful and iconic renovation process, restoring the celebrated structure to its original grandeur and reopening as a four-star, lifestyle boutique hotel.CAAStaircaseRead More

LIVE BLOG: JLL CEO Colin Dyer at Executives’ Club of Chicago Global Leaders Luncheon

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JLL CEO Colin Dyer (second from left) is one of three panelists at today’s Global Leaders Luncheon hosted by the Executives’ Club of Chicago. The topic is “Capital Flows and Global Footprint” and the other panelists are David Sayer (second from right), Global Head of Banking for KPMG, and Hung Tran (far right), Executive Managing Director of the Institute of International Finance. The panel is… Read More

The New York Times examines Chicago’s hotel boom

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ChicagoTourismWith more than 37,000 rooms downtown alone, Chicago is the country’s fourth-largest hotel market after New York, Las Vegas and Orlando.

And even as the city’s tourism industry continues to recover after the Great Recession, developers are betting that the there’s room for further growth. More than a dozen new hotels have recently opened or are under construction here… Read More