Hines puts 300 N. LaSalle on the block
(Crain’s) — Despite the dormant market for mega-deals, developer Hines Interest L.P. is putting up for sale a new skyscraper anchored by Kirkland & Ellis LLP that could fetch a blockbuster price of $620 million. Hines has hired real estate firm Holliday Fenoglio Fowler L.P. to market 300 N. ...
Foreclosure suit tarnishes Silver Tower condo project
(Crain’s) — Bank of America has filed a $40-million foreclosure lawsuit on a 225-unit River North condominium project in what could be a preview for other slow-selling downtown high-rises. The developer of the 38-story Silver Tower didn’t pay back B of A’s loan by its Dec. 29 due date, ...
American Apparel joining ‘younger and fresher’ State Street
(Crain’s) — American Apparel Inc., a trendy retailer known for its basic T-shirts and provocative advertising, has signed a lease for a downtown store on State Street. The two-level store is to open late this summer in the historic Mentor Building at 39 S. State, replacing a Children’s ...
Arlington Heights development falls into foreclosure
(Crain’s) — A foreclosure suit seeking nearly $20 million has hit Arlington Town Square, a publicly subsidized mixed-use project that sparked a revival of the northwest suburb’s downtown. The project’s nearly 137,300-square-foot commercial space is owned by a group of 30 individual ...
Loop project poised to get another big TIF boost
(Crain’s) — A city panel approved another major increase in financial assistance for planned Loop apartment development that has struggled to get off the ground because of rising costs and the tough lending climate. The Community Development Commission signed off Tuesday on a $34-million ...
Strategic Hotels names Freed, Equity Office vet as new CFO
(Crain’s) — Strategic Hotels & Resorts Inc. has named a former executive at Joseph Freed & Associates LLC and Equity Office Properties Trust as its chief financial officer. Diane Morefield, 51, will replace James Mead, who has left the company, Strategic said in a news release Tuesday. Ms. ...
