172K SF VA Lease In The Illinois Medical District On The Way

Despite a general paring back of federal government real estate and personnel cuts at the Department of Veterans Affairs, a new outpatient VA clinic in the Illinois Medical District is apparently a go for now.

Wikimedia Commons/Tony Webster

The General Services Administration is proposing an outpatient clinic lease of about 172K SF for the VA to expand vital outpatient services in the Chicago area, according to a GSA lease prospectus.

The GSA argues in the prospectus that the care spaces at the city's Jesse Brown VA Medical Center are inadequate and undersized for the current and projected veteran workload demand for services.

Today's Rundown

Realterm Appoints New Head Of U.S. Investments: Realterm tapped Joe Noon to work as one of its new top executives. Read more about this hiring and other top deals in this week’s Chicago Deal Sheet.

EXCLUSIVE: 83% Of Multifamily Investors Are Looking To Buy In 2025: Chicago suburban multifamily has been hot, and new survey data provided to Bisnow found a vast majority of multifamily real estate investors are looking for deals in 2025. Read more.

Five Years After The Pandemic, CRE’s Painful Fallout Is All Too Clear: Bisnow went back and analyzed the predictions the industry made during the lockdowns to find out what came to pass — and what didn’t. Read more.

What Else Is Happening?

RTO Is Dead, Long Live RTO: Employers Move From Policy Rollouts To Space Optimization

D.C. Hitting New Return-To-Office Highs After Federal Mandate

Bankrupt Retailers Have Massive CMBS Exposure. Closures Could Send Values Tumbling

The Finish Line

Real IDs are finally going to be required to fly on a commercial airline as of May 7 — no, for real this time — and Illinois is launching a Real ID supercenter in the Loop to help handle the demand. Real ID rules were introduced in 2005 and supposed to take effect in 2008, but they have been hamstrung by delays and extensions. Hopefully, the supersite will save us all from a renewed wave of stand-up comics doing tight fives about lines at the DMV.

The Chicago Rundown is written by Chicago Reporter Ryan Wangman and edited by Central Editor Katharine Carlon. If you enjoyed today’s edition, please share and forward with anyone you think might find it interesting. We’d also love your feedback and news tips: ryan.wangman@bisnow.com.

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