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 September 19:
The co-founders of Groupon Inc. and Zeller Realty Group were minority partners in a deal led by Chicago’s BDT Capital Partners to purchase the iconic Wrigley Building. As part of the deal, the new owners have committed to a significant renovation of the building’s interior towers, public plaza and the ground-floor retail space.
- Wal-Mart opened its first neighborhood market store in Chicago this week at the Presidential Towers apartment complex at 555 W. Madison Street in the West Loop. The grocery store is less than one-quarter the size of a typical Wal-Mart, but carries all the staples of a Wal-Mart SuperCenter.
- A report issued by the Civic Federation found that both residential and commercial property tax bills in Chicago are rising.
- Occupancy and room rates at Chicago hotels continue to increase, despite the stalling economy. The occupancy rate at city hotels rose to 69.8 percent while the daily room rates rose 5.9 percent.
What headlines caught your attention this week? Leave a comment and let us know.