Category Archives: Press Release

Wrigley Building Sold to Groupon Execs

News broke earlier this week that the Wrigley Building to a group of investors led by BDT Capital Partners. BDT Capital Partners is comprised of members of the Zeller Realty Group, including Eric Lefkofsky and Brad Keywell, two of the three co-founders of Chicago’s very own multi-billion dollar tech company, Groupon.

According to a press release related to the sale, the chief investment officer for BDT Capital Partners, Byron D Trott, said this about the sale:
“The Wrigley Building is an iconic Chicago asset in a premier Chicago location on Michigan Avenue …

by Lindsey Anderson on September 29, 2011

Who Will be the next Chicago Housing Authority Chief?

Parkside_of_Old_Town

 
According to The Chicago Tribune, “Mayor Rahm Emanuel is down to two candidates for the top post at the Chicago Housing Authority, a job whose chief concern will be dealing with a stubbornly anemic real estate market that has hampered efforts to create vibrant mixed-income developments where crime-ridden high-rises once stood.”
“Those developments are the linchpin in the CHA’s $1.6 billion Plan for Transformation, launched in 1999 and now expected to be completed by 2015, five years past the original target date.”

Earlier this year, the former Chicago Housing Authority, Chief Lewis …

by Lindsey Anderson on September 13, 2011

Frank Lloyd Wright: Thomas Gale Home on the market

Wright house 0712

A variety of Frank Lloyd Wright homes have hit the market lately, but many are from the architect’s later years. Not so for the most recent addition to the listings. Wright’s Thomas Gale Home, otherwise known as a ‘Bootleg Home,’ at 1027 W. Chicago Avenue in Oak Park, Illinois is a part of Wright’s earlier days in the near-Chicago suburb.
The other differentating factor between this Frank Lloyd Wright home and the other five on the market throughout Chicagoland? It may still have Wright’s trademark octagonal spaces, but it has been …

by Liz SanFilippo on July 20, 2011

NAR Thinks Housing Stimulus Better Boost than Casinos

With the Illinois Congress looking for ways to help the state’s economy, they’ve been working on plans for a casino. But the National Association of Realtors has a different suggestion based on a new report: give Illinois residents incentives to buy homes.
According to the data, the NAR reports that every single-family home sale generates $28,581 for the state. This is because buying a home is about more than just buying a home. Other expenses related to home buying and selling factor in too, including making repairs and improvements before listing a …

by Liz SanFilippo on June 28, 2011

Chicago Real Estate Round-Up: Rental Edition

If the latest housing reports make anything clear, it’s this: it is not a renter’s market. Real estate investors are banking on people continuing to rent as occupancy rates have reached all-time highs, and they’re raising rents all over Chicago and the suburbs. From across the Web, there’s the story of a developer, Newcastle, putting down a hefty $10.55 million to secure a 13-story, 98-unit apartment. And across the city, construction companies are gearing up to build new apartment buildings and rejuvenate old buildings. Rent isn’t just expensive for residential renters either; …

by Liz SanFilippo on June 27, 2011

Groupon Co-Founders Slated to Become some of the Wealthiest Men in Chicago

Groupon, the Chicago-based tech company, announced recently that it will present its customers and competitors with an IPO (initial public offering) sometime soon.

Groupon also announced that this IPO will likely be worth about $30 bullion. And, if that estimate is correct—as most financial experts believe it to be—then Groupon’s three co-founders and major shareholders will soon become some of the richest men in Chicago.
The first of these co-founders, Groupon chairman Eric Lefkofsky’s stock would be worth roughly $6.48 billion immediately after the IPO, and he would become the richest man …

by Lindsey Anderson on June 22, 2011
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