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January 16, 2024

This Week’s Chicago Deal Sheet: 2 Companies Look To Sublease Fulton Market Space

Glassdoor and Waystar are putting office space up for sublease in Fulton Market, a rare bit of bad news for a neighborhood used to snagging positive headlines in the Chicago office arena. 

This Week’s Chicago Deal Sheet: 2 Companies Look To Sublease Fulton Market Space

The two tenants are releasing a total of 63K SF to the sublease market at two buildings, 1330 W. Fulton St. and 1375 W. Fulton St., The Real Deal reports. Glassdoor has a presence in both buildings, while Waystar occupies a floor at 1330 W. Fulton St.The lease for Glassdoor’s…

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Big Money Already Flowing On Both Sides Of Chicago's Real Estate Transfer Tax Battle

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Key adversaries in the city’s push to pass a transfer tax on property sales are ramping up their fundraising campaigns and spending efforts with just over two months to go before the referendum appears on voters’ ballots.

The  Chicago City Council approved a measure last November to put a revised real estate transfer tax on voters’ ballots in March, with revenue designated for fighting homelessness. That proposal has advocates on both sides lining up money and support in what is likely to be a contentious…

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Not 'Even Worth Giving Them Our Name': Why Most Foreclosure Auctions Don't Actually Result In Sales

Not 'Even Worth Giving Them Our Name': Why Most Foreclosure Auctions Don't Actually Result In Sales  

It was an uncharacteristically dreary day in Los Angeles County when a full-block Pasadena office property hit the auction block with a $114M opening bid — less than half its prior sale price. Despite the attractive price point and the many selling points of the Pasarroyo office complex, the results of the auction were equally glum.

The no-frills public auction was held on the steps of the Pomona Public Library, a low-slung, pasty beige building in Pomona, California. About one dozen people attended, toting folding chairs.

About half of those in attendance were there because of the Pasarroyo building. But when the time came to bid on the 640K SF property, the crowd was silent. No one bid and the property remained with its lender, Heitman.  It’s a scene playing out on courthouse steps…

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'We’re Not Even Close': Data Center Power Crunch Gets Worse, With No End In Sight

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Data center developers are facing a worsening energy crisis that has escalated as utilities struggle to keep up with the needs of the booming industry. And with its power usage being exponentially increased by the adoption of artificial intelligence, experts say the problem isn't going away any time soon. 

With soaring demand, rising rents and a flood of new investment, data centers are a rare, charmed corner of the commercial real estate landscape. Major tech companies’ massive investments in AI over the past 12 months have added fuel to a sector already experiencing unprecedented growth as firms like…

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