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

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 May 20.

  • Jones Lang LaSalle has been hired to sell the Palmer House Hilton hotel at 17 E. Monroe Street. Built in 1873, the 1,639-room Palmer House is the nation’s oldest hotel in continual operation and second-biggest Chicago hotel, and may sell for as much as $500 million.
  • 181 W. Madison

    181 W. Madison

    CBRE Global Investors announced two major downtown Chicago office market deals this week, including the purchase of the 50-story tower at 181 W. Madison for $300 million and the sale of the 40-story building at 190 S. LaSalle for $211 million. The transactions reflect a continued strong office investment market in downtown Chicago, with multiple towers fetching more than $300 per square foot.

What CRE or Chicago news headlines from the past week captured your interest? Leave us a comment and let us know.

Advertisements

About BOMA/Chicago

The voice of Chicago's office building industry since 1902.
This entry was posted in Chicago CRE Industry, CRE Trends and tagged , , , , , , , , , , . Bookmark the permalink.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s