CRE News: What We’re Reading the Week of August 1

Each week, The Elevator Speech summarizes news related to some of the key events, buildings, deals and dealmakers that shaped headlines. Here’s what caught our attention the week of August 1st:

  • After a long political debate, Congress delivered a bill to raise the debt ceiling and work towards reduced spending. While the implications of the bill on the commercial real estate industry are still unknown, real estate industry experts made predictions on how it will affect the market.
  • Many companies located in Chicago’s suburbs are relocating their headquarters to downtown because employees want to live and work in the city.

A Lollapalooza concert with the Chicago skyline in the background.

  • The vintage, 27-story office building at 203 N. Wabash Ave. will be converted to apartments as demand for older downtown buildings remains weak while the rental industry booms.

What headlines caught your attention this week? Leave a comment and let us know.

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About BOMA/Chicago

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