Don't see images? Click Here SUBSCRIBE FOR FREE MANAGE EMAIL PREFERENCES
Bisnow - (Almost) Never Boring
August 30, 2022

This Week's Chicago Deal Sheet

Residential In The CBD: Hear Why Greystar Is Launching Into Downtown From Managing Director Yale Dieckmann Oct. 6

The Sterling Organization has hired Greenstone Partners to market the sale of a 112K SF vacant building at 209-227 South State St., hoping to attract the interest of developers that could tear it down and turn it into a high-rise development.

The longtime home of a Woolworth's store has been vacant since Foot Locker closed there in 2020, making it well-positioned to become an apartment conversion in an especially hot time for multifamily.

This Week's Chicago Deal Sheet

“There are so many different ways you can cut it from a development standpoint,” Greenstone Partners CEO and Managing Partner Danny Spitz told Crain’s Chicago Business. “It’s very rare to find something like this on State Street.”The existing building sits on a 20.3K SF parcel with zoning that could…

Read the full story here.

  Share:  
 
Perforation

Top Stories on Bisnow.com

First Solar Plans $1.2B Expansion Of Solar Panel Factories First Solar Plans $1.2B Expansion Of Solar Panel Factories
American, Singaporean Funds Invest In $1.1B Suburban Office Portfolio American, Singaporean Funds Invest In $1.1B Suburban Office Portfolio
Law Curbing Anonymous LLCs Yet To Be Implemented Over 18 Months After Passage Law Curbing Anonymous LLCs Yet To Be Implemented Over 18 Months After Passage
Honda, LG Energy Plan To Sink $4.4B Into U.S. Battery Plant For Electric Vehicles Honda, LG Energy Plan To Sink $4.4B Into U.S. Battery Plant For Electric Vehicles
Perforation

Huge Firms Like Blackstone Are Slowing Their SFR Purchases. They Won't Be Down For Long

Blackstone’s single-family investment arm announced last week that it was pausing all purchases in 38 U.S. cities, making it just the latest example of a huge buyer backing off acquisitions in what was one of the hottest real estate asset classes in the last two years.

But while sales activity is slowing and prices are cooling due to rising interest rates, experts told Bisnow it's only a matter of time before institutional investors, with their ability to buy homes in cash, return to the market in full force with an even bigger advantage over individual homebuyers and mom-and-pop investors.

Huge Firms Like Blackstone Are Slowing Their SFR Purchases. They Won't Be Down For Long

“They are letting the interest rates re-simple the market, and then they're going to be more aggressive in the future,” said Rod Mullice, an Atlanta developer who said he recently pivoted a for-sale townhome project into a build-to-rent community. The Federal…

Read the full story here.

  Share:  

 
Perforation

Why Lawyers Are Leading The Return-To-Office Race

What happens when three equity partners and a junior associate in a law firm walk into a conference room? They leave with a renewed appreciation for the office.

At least, that was the experience of Phil Appenzeller, CEO of Dallas-based firm Munsch Hardt Kopf & Harr. That moment, which was before his firm mandated a companywide return, crystallized why he feels in-person work is still critical for lawyers, even in the era of work-from-home.

“One of our first-year lawyers was here, and one of my partners came down and said, ‘Hey, I've got a problem. Can we go into this conference room?’” Appenzeller said. “For [a first-year associate], being able to sit and watch how we work through things, I think in person was much better than it would be if he was trying to watch it over Zoom or on the phone.”

Why Lawyers Are Leading The Return-To-Office Race

As hybrid work has taken hold of the corporate world, the legal industry has returned to its offices in larger numbers than other white-collar sectors, like technology and finance. Law firm leaders who spoke to Bisnow said the nature of the profession — with long hours, intense, extended periods of…

Read the full story here.

  Share:  

 
Perforation

In Case You Missed It...

Obama Presidential Center Making Good On Promise Of Construction Diversity Obama Presidential Center Making Good On Promise Of Construction Diversity
Chicago's Full Hotel Recovery Linked To Attracting More Shoppers Downtown Chicago's Full Hotel Recovery Linked To Attracting More Shoppers Downtown
Chicago Construction Costs Leap Highest Nationally Chicago Construction Costs Leap Highest Nationally
'Changing The Mindset': Crime Capital Narrative Hard For CRE To Shake In Cities Like Chicago 'Changing The Mindset': Crime Capital Narrative Hard For CRE To Shake In Cities Like Chicago
 
Perforation

With Recession Likely, U.S. Property Values Could Drop 20% By 2023, Cushman & Wakefield Projects

With Recession Likely, U.S. Property Values Could Drop 20% By 2023, Cushman & Wakefield Projects  

​The United States is likely to be in a mild recession by the end of this year or early next, and property values will take a hit as a result, according to Cushman & Wakefield. In the brokerage giant's latest economic forecast, it said its baseline assumption for the…

Read Full Story

  Share:  
 
 
BISNOW
 
       
 
You are receiving this email because you are either a member of the Bisnow community, have attended a Bisnow event, because you have a legitimate interest in real estate news and events because of your profession, or because of your business associations, memberships or partnerships.
 
This email was sent to: newsletter.archives@bisnow.com
 
   
 
123 William St, Suite 1505, New York NY 10038
Newsletter Approval Code: 60482