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.


About BOMA/Chicago

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