4410 S Drexel tenants can enjoy a new pool and recreation center just a mile north of home. The $18M project is welcomed investment to the area. via Work Officially Begins on Ellis Parks New Arts & Rec Center – Parks & Rec – Curbed Chicago.
Chicago Tribune sums up U. of C’s two Obama library sites. By Melissa Harris contact the reporter About 20 acres: That’s how much parkland the University of Chicago is offering to Obama library planners. University of Chicago provides new details about its Obama library plans. The University of Chicago is proposing that the Obama presidential…
NY CHA to receive $278k/unit plus another $110K/unit over 15 years for a 50% interest in 900 Section 8 units in the Bronx, Brooklyn and Manhattan. In addition, the acquiring developers will invest another $110k/unit in renovations. Those are some NY – sized numbers. http://www.wsj.com/articles/new-york-city-to-sell-public-housing-stake-to-developers-1418004966?ref=/news-real-estate-homes
http://www.chicagobusiness.com/article/20141108/ISSUE01/311089980?template=mobile&X-IgnoreUserAgent=1 An accurate assessment of Chicago’s frontier markets. The shortage of capital is not limited to debt — equity availability is also comstrained, which is why equity returns are also higher. By building long-term relationships with quality tenants and proactively managing the assets, we ensure this is the case on a risk adjusted basis.
http://m.wsj.com/articles/natural-gas-prices-fall-even-with-chill-nearing-1413762964?mod=article_next&ref=/news-oil-gold-commodities Heating costs were up 85% last winter. Let’s hope predictions for a reprieve pan out.
Central to the RE Investment Thesis, interest in frontier markets picks up. http://m.nreionline.com/finance-investment/cre-investors-focus-new-markets-asset-classes
World Business Chicago tracks indicators from month to month to gauge the strength of several aspects of Chicago’s economy, including employment in major sectors, residential and office real estate data, price and purchasing indexes, freight demand, and auto and truck sales. Note: employment data refers to payroll job estimates for the city of Chicago and is not adjusted for seasonality.
Key trends evident this month include:
The Chicago (city) economy has expanded by an estimated 12,409 private-sector jobs since July 2013, mostly attributed to professional and business services (+7,950), education and health services (+4,923), and construction (+1,598) sectors.
Venture capital investment in the metro area increased to $133.4m during the second quarter of 2014, a 197.8% improvement from the same time period last year.
Median home sale prices in the city increased to $270,000 in July 2014, an 8.0% improvement compared to the same time period last year.
Passenger volume for O’Hare and Midway Airports grew by 581,966 people, a 7.0% YOY change since July 2013.