The Real Deal — Chicago research · Global Real Estate Intelligence

Chicago industrial market faces rising vacancy

More and more companies that vacuumed up Chicago area warehouse space during the pandemic are now shedding capacity. Available warehouse space vacancies inched up to 5 percent from 4.9 percent over the course of the quarter, according to Crain’s, who cited real estate data firm Colliers. The vacancy rate has been…

Capital MarketsIndustrial & LogisticsUnited StatesIllinois

Posted today·Published Jul 24, 2026

The Real Deal — ChicagoNews

Related Midwest tops off exterior of tallest Chicago tower currently under construction

Related Midwest finished up the crown installation on the North Tower at 400 Lake Shore Drive, the tallest building in Chicago that’s currently under construction. Construction on the building is set to be completed in spring 2027, according to a press release. The tower has reached its target height, 72 stories…

The Real Deal — ChicagoNews

UrbanStreet targets former Motorola office for residential conversion

UrbanStreet Group is planning a residential conversion of an atrium office building that used to house Motorola, as part of Schaumburg’s the District at Veridian development. During an informal presentation with village officials, UrbanStreet managing partner Bob Burk said that converting the six-story,…

Capital Markets

The Real Deal — ChicagoNews

“It’s out of control”: Inside Chicago’s bidding war summer

Chicago’s real estate summer for residential shoppers is looking to get hotter, and maybe even abbreviated. Scarce availability in competitive markets continued to push prices upwards into the summer as Illinois median home prices reached $345,000 in June, a 6.2 percent annual increase, with fewer homes on the…

Capital Markets

The Real Deal — ChicagoNews

$27M Lakeview co-op building renovation tops Chicago’s construction permits: Week ending July 23, 2026

🏆Alteration: The largest alteration permit issued last week was in Lakeview for $27 million of infrastructure renovation work at 655 West Irving Park Road. The project at the co-op building includes replacing water risers, waste and vent piping, and HVAC piping, as well as installing new ceilings on three floors.…

The Real Deal — ChicagoNews

Little-known foreign entity and lender locked in $25M foreclosure of O’Hare hotels

A dual-branded hotel near O’Hare International Airport is caught up in a foreclosure tied to the U.S. EB-5 visa program which grants visas to foreign developers who invest a certain amount of capital into U.S. real estate. A foreclosure filed last week alleges that the developer of the 400-key Hyatt La Quinta hotel…

The Real Deal — ChicagoNews

Jiazhao “Frankie” Chen roped into another foreclosure suit as Chicago loan defaults near $100M

Legal troubles for Chicago real estate investor Jiazhao “Frank” Chen are multiplying as the South Side landlord was named in another foreclosure lawsuit filed late last week involving three Bridgeport properties. The lawsuit is over a defaulted loan payment of nearly $820,000 against Best Credit Investment LLC, an…