CRE News: What We’re Reading the Week of December 10

Each week, The Elevator Speech summarizes news related to some of the key industry trends, buildings, deals and dealmakers that shaped headlines. Below are articles that caught our attention the week of December 10.

  • Mayor Emanuel is preparing to put Midway International Airport on the market again. Although the city hasn’t yet decided how or even whether to proceed, the Mayor is moving toward another request for proposals that would test the market’s appetite for leasing Midway under different terms. There are too many variables to say what the airport could sell for today, but the back-of-the-envelope calculation is that airports sell for a multiple of their entire annual cash flow, including earnings before interest, taxes, depreciation and amortization and non-operating revenue such as passenger ticket taxes and car rental surcharges. Currently, the market is at a multiple of 14.

What CRE or Chicago news headlines from the past week captured your interest? Leave us 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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