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July 5, 2022

This Week's Chicago Deal Sheet

Smash Interactive's Scott Greenberg Discusses The Future Of Virtual Production Studios July 21

Evergreen Real Estate Group is breaking ground on an affordable senior housing community at 542 25th Ave. in west suburban Bellwood, a vacant space once occupied by Walgreens.

This Week's Chicago Deal Sheet

The $30M project and four-story, 73K SF residential building will offer 76 one-bedroom and four two-bedroom independent living apartments for seniors 62 or older with incomes at or below 60% of the area median income.Operated by Evergreen’s in-house management team, the project is expected to be complete by mid-2023.“Bellwood Senior…

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Real Estate Needs To Be In The Community-Building Business If It Wants People Back At The Office

Sartre might have thought hell is other people, but when it comes to getting workers back to the office, existentialism is out and community is in.

Landlords and employers have tried it all to lure reluctant Americans away from Zooming from their living rooms. But according to panelists at Bisnow's Chicago Tenant Wellness & Leasing Summit June 28, not enough thought goes into creating community and real estate's role in helping build it.

Real Estate Needs To Be In The Community-Building Business If It Wants People Back At The Office

The return to the office has been a slow climb in Chicago, as evidenced by Kastle Systems’ Back to Work Barometer, which records the swipes of office building access cards. Though it has improved in recent weeks, with 41.9% of pre-pandemic office workers back on-site at least some of…

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Meeting Chicago Suburban Residents' Needs Involves New Multifamily Developments And Transit Access

PRESENTED BY:   Village of Hoffman Estates
 
Meeting Chicago Suburban Residents' Needs Involves New Multifamily Developments And Transit Access

During the pandemic, urban renters fled major cities in search of more space. This led to a multifamily development boom in places like the Chicago suburbs. Now, these areas are working hard to make sure their new tenants have the housing, amenities and…

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What Record Rent Growth Looks Like: Pawning Belongings, Going Hungry, Fearful Of Tomorrow

Ten years ago, living in the luxury condo she owned in Los Angeles, Barbara never pictured herself on the verge of homelessness. 

Today, the threat of eviction looms over her daily life.

“I loved my place,” Barbara said. “But it just got too expensive, and I had to sell it back to the bank. … Now, I’m just trying to prevent living in a tent.”

A growing number of Americans like Barbara — once upwardly mobile, now paycheck-dependent — struggle to pay their rent.

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Abortion Is On The Ballot For Pennsylvania In November, And The Corporate World Is Watching

 

Pennsylvania has been an electoral battleground state for years, but this November's midterm fight sets up a new front that could have costly economic development repercussions.

Abortion rights are on the ballot in the Keystone State — and in about a dozen others where legislative and gubernatorial races will be key to transforming the nation's reproductive rights landscape following the U.S. Supreme Court's controversial reversal of Roe v. Wade late last month.

The uncertainty is forcing companies to integrate personal politics into business decisions more than ever before, especially when it comes to their locations.

Read the full story here.

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C-Suite Spotlight: Valcre CEO Lucas Rotter

Lucas Rotter has a plea for commercial real estate: Please stop taking for granted — or worse, villainizing — appraisers.

Rotter began his CRE career in appraisals in 2007 and began working on the technology side of appraisals in 2010, when he helped build Colliers’ International Valuation and Advisory Services team from the ground up. He co-founded Valcre, an appraisal software platform for commercial real estate, in 2016.

He said appraisers are often treated as roadblocks, but he said they are there to help improve fairness and accuracy in the real estate industry.

“The appraisal process shouldn’t be viewed as a hurdle to get over, but rather a critical step that involves an objective third party upholding public trust and advocating for the health of the market,” Rotter said.

Read the full story here.

 
 
 
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