CRE News: What We’re Reading the Week of June 20th

Each week, The Elevator Speech summarizes a list of important news stories impacting our industry and the City of Chicago. Here are the news stories that caught our attention this week:

  • The Coast at 345 E. Wacker Dr.

    Magellan Development Group broke ground on The Coast, a 499-unit apartment tower at 345 E. Wacker Dr., this week. The $150 million tower is slated to be completed by February 2013.

  • Union workers at the Hyatt Regency Chicago at 151 E. Wacker Dr.  held a one-day strike after nearly 20 months of unsuccessful labor contract talks.

  • The Drake Hotel at 140 East Walton Place

    The historic Drake Hotel was purchased by Mount Kellett Capital Management and Lodging Capital Partners LLC.

  • Two major global summits will be held in Chicago next May – the NATO summit and the G-8 summit, shining a global spotlight on the Windy City.

These news items crossed our desk this week.  Let us know what local real estate or business news has made an impact on you.

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About BOMA/Chicago

The voice of Chicago's office building industry since 1902.
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