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February 6, 2024

This Week's Chicago Deal Sheet

Marquette Cos. completed The Thompson at Fulton Market, a 210-unit mixed-use apartment building at 150 N. Ashland Ave., on the site of the former Mary Thompson Hospital in Fulton Market.

This Week's Chicago Deal Sheet

The building is named after Dr. Mary Thompson, Chicago’s first female doctor and the first woman known to have performed major surgery. This structure is integrated with an original five-story brick building built in the 1920s as part of the hospital and located on the south side of the property. “The…

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Top Stories on Bisnow.com

Adam Neumann Seeks To Buy WeWork, Partners With Hedge Fund Manager Daniel Loeb Adam Neumann Seeks To Buy WeWork, Partners With Hedge Fund Manager Daniel Loeb
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Steward Saga Shines Light On Pattern Of Financial Troubles For Largest U.S. Hospital Landlord Steward Saga Shines Light On Pattern Of Financial Troubles For Largest U.S. Hospital Landlord
Darcy Stacom, 'Queen Of The Skyscrapers,' Leaves CBRE To Start New Firm Darcy Stacom, 'Queen Of The Skyscrapers,' Leaves CBRE To Start New Firm
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Illinois Legislature Set To Revisit Biometric Privacy Law That Rattled CRE

Illinois Democratic leaders are reportedly ready to revive conversations about reforming a 15-year-old data privacy law that has spurred hundreds of lawsuits, several multimillion-dollar settlements and something of a panic among CRE operators.

Illinois Legislature Set To Revisit Biometric Privacy Law That Rattled CRE

State Sen. Bill Cunningham is proposing a bill that may lower the liability companies face for collecting data, Crain’s Chicago Business reports. “We think that the security restrictions embedded in [the law] are very important and we want to keep them in place, but we do want to address the…

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Clayco Taps Former World Business Chicago Head To Lead Chicagoland Region

Clayco has hired former World Business Chicago President and CEO Michael Fassnacht to serve as its Chicagoland region president as well as its first chief growth officer. 

Clayco Taps Former World Business Chicago Head To Lead Chicagoland Region

Fassnacht will oversee all aspects of Clayco's Chicagoland operations, including business development, marketing and sales, the company announced Monday. As the chief growth officer, he will support all organizational units to help elevate Clayco’s business-to-business marketing efforts. The move signifies Clayco’s commitment to growth in Chicago, Clayco founder and Executive Chairman 

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Investors Seek To Shut Down CrowdStreet After Nightingale Fiasco

Investors Seek To Shut Down CrowdStreet After Nightingale Fiasco  

A group of investors who lost their money in Nightingale Properties' now-infamous offerings on CrowdStreet are looking for payback and focusing their attention on the real estate crowdfunding platform they say let it happen.

Attorneys acting on behalf of a dozen investors who collectively had more than $1.5M misappropriated from Nightingale's failed bid to acquire the Atlanta Financial Center have filed an arbitration claim with the Financial Industry Regulatory Authority against CrowdStreet. They are seeking more than $3M in damages and an injunction that could effectively stop it from operating. 

The claim, which was obtained by Bisnow and hasn't been previously reported, was filed last month by Joshua Kons, a Connecticut-based attorney, and Chicago-based securities litigators Andrew Stoltmann, Joseph Wojciechowski and Sara Hanley with Stoltmann Law Offices. 

The attorneys declined to name their clients, but Kons and Wojciechowski said in an interview they aren't waiting to see if Nightingale CEO Elie Schwartz ultimately makes good on his promise to pay investors back over the next three years. ​​“I can't imagine a scenario where…

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