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November 8, 2022

Neighbors Up In Arms Over Sale Of Former ‘Transformers’ Movie Site To Controversial Industrialist

Sterling Bay Managing Principal Keating Crown Joins Chicago State Of The Market Nov. 16

The owner of an asphalt company has been announced as the high bidder on the abandoned industrial site along the south branch of the Chicago River known as Damen Silos — and its neighbors aren't pleased.

Neighbors Up In Arms Over Sale Of Former ‘Transformers’ Movie Site To Controversial Industrialist

The Illinois Department of Central Management Services said last week it would enter into negotiations with MAT Limited Partnership to acquire 2900 South Damen Ave. for $6.25M, twice the state’s minimum bid. The former construction materials mixing site, which has…

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Retail Space Availability Reaches New Low, Retail REITs Enjoy The Competition

Retail Space Availability Reaches New Low, Retail REITs Enjoy The Competition

Low consumer sentiment, inflation and high interest rates combined spell trouble for retailers and their landlords, but low supply of available retail property has created something of a bright spot, at least for property owners.Although retailers struggled before and during the pandemic, a lack of new development created a growing…

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Midterm Primer: What’s At Stake For CRE In Elections Across The U.S.

 

Inflation. Gas prices. Crime. Abortion rights.

These are some of the most pressing issues driving voters nationwide as they ponder the future of both chambers of Congress, weigh in on heated gubernatorial campaigns and consider local races and ballot measures that could reshape their communities.

Undoubtedly, these U.S. midterm elections are consequential, but for commercial real estate, there is really only one issue at play: the economy.

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Not Open For Business: Death Of Chapter 313 Could Herald The End Of Texas’ Corporate Relo Reign

One of Texas’ most widely used incentive programs is set to expire at the end of this year, compromising the state’s ability to lure industries that have long propelled its economy.

Authorized by the state legislature in 2001, the Texas Economic Development Act, known colloquially as Chapter 313, was designed to attract new manufacturing and renewable energy projects through a temporary abatement of school district taxes. 

The program enjoyed overwhelming bipartisan support for nearly two decades, leaving many stakeholders shocked when, in an unexpected turn of events last year, the state Senate declined to consider a bill that would have extended the program.

Now on the eve of an election that could change the makeup of Congress and state and local offices, it joins a long list of measures that could upset the balance of the Texas Miracle.

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