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Articles filed under Commercial Real Estate

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  • Business will offer freelancer, small-business workspace in Geneva Oct 25, 2014 7:40 PM
    If you've been to Geneva lately, you might have noticed some outdoor work taking place at the former U.S. Bank building on North Third Street, near Hamilton. After the first of the year, work will be getting done inside after office space developer Mara Hauser opens 25N Coworking, providing a “collaborative and productive” workspace for freelancers and small businesses.

  • Mt. Prospect to give Kensington Center a spruce Oct 24, 2014 4:25 PM
    Mount Prospect is stepping up efforts to pump new life into the Kensington Business Center. The village wants to make the center more attractive to businesses and turn it into more of an economic engine, so this week the village board hired an engineer to do design and construction work on the jogging path and on making lighting improvements.

  • Schaumburg convention center to start $11.6 million renovation Oct 23, 2014 5:23 AM
    Already in its ninth year of operation, the Schaumburg Renassaince Hotel and Convention Center is being prepared for a three-year, $11.6 million renovation. The Schaumburg village board is scheduled to vote next week on approval of the first $33,000 of a proposed $159,500 contract for PMC-Property Management Consultants of Cleveland to serve as project manager.

  • Ownership questions stalling Mt. Prospect plaza’s redevelopment Oct 23, 2014 10:49 AM
    Central Plaza has been an eyesore in downtown Mount Prospect for years. Village officials say they would love to take steps to redevelop the mostly vacant shopping center at Elmhurst and Central roads, but they've had difficulty determining who exactly owns it.

  • Two historic downtown Des Plaines buildings up for auction Oct 22, 2014 5:28 AM
    Two historic buildings in downtown Des Plaines are on the auction block: the 93-year-old former Des Plaines Masonic Temple building — perhaps the oldest downtown building - and the former Oliveti's Italian Restaurant. Sealed bids are due Nov. 20, and the property owners will have five business days to review bids and decide whether to accept offers.

  • Can Forsythe family bring Long Grove back to glory days? Oct 21, 2014 5:37 AM
    A family of developers has bought about a third of the famous Long Grove historic business district and is attempting to revive the area with new businesses and restaurants to bring in a younger crowd. But not everybody in Long Grove thinks all the changes - like video gambling - is such a good thing.

  • Upscale Italian restaurant opening in Palatine Oct 21, 2014 10:37 AM
    Luigi's Italian Bistro, a new upscale restaurant, will open soon where Vittorio De Roma was at 154 W. Northwest Highway in Palatine. Vince Pedone, the owner, said the new restaurant will be have a menu simliar to its predecessor's. The new restaurant will also offer a delivery service for pizza and other menu items. “If it's a food we serve there, we will deliver it too,” Pedone said.

  • Winberie’s closing after nearly 30 years in Buffalo Grove Oct 19, 2014 2:59 PM
    After 28 years in Buffalo Grove, Winberie’s Restaurant & Bar is closing. The parent company announced Winberie's will serve its last meal -- brunch -- on Oct. 26. But Select Restaurants plans to bring a new eatery to the same location on Lake-Cook Road.

  • Lombard to take its time to study DuPage Theatre site options Oct 17, 2014 8:12 AM
    The Lombard village board agreed to move forward with a marketing analysis Thursday in hopes of gaining more guidance on what to do with the vacant downtown property where the DuPage Theatre once stood. During a workshop discussion, village staff presented the board with various options for marketing the property at 101-109 S. Main St., along with a proposal from Tracy Cross & Associates to do a marketing analysis of the 2-acre site for $17,500.

  • Forklift company relocating to Elk Grove first to get new TIF funds Oct 17, 2014 5:55 PM
    A forklift and lift truck dealer planning to move to Elk Grove Village could benefit from at least $1.6 million in tax increment financing proceeds, under a deal inked with village officials. Company officials say it will cost more than $17 million to acquire and redevelop the property and relocate their operations there, and without public funding, the project wouldn’t be economically feasible.

  • New Bartlett restaurant blends French, Indian Oct 15, 2014 4:32 PM
    To get a sense of his vision, watch Bartlett restaurateur Rakesh Chopra make rumali roti. He folds the delicate bread like a burrito instead of the usual handkerchief. The concept? Indian food on the go. "There's nothing like this," Chopra said Wednesday.

  • Barrington project gets started with coffee, not cement Oct 15, 2014 5:26 AM
    Village officials and developers intended to have the “first pour” ceremony for The Barrington Village Center, the long-awaited retail project at Hough and Main streets, but the dreary Tuesday morning weather forced organizers to change plans. Instead of the first pour of concrete, village officials and other VIPs poured a few cups of coffee. “We took a bit of poetic license with that,” Village Manager Jeff Lawler said.

  • Gene & Georgetti to replace Rosewood in Rosemont? Oct 14, 2014 5:24 PM
    Rosewood restaurant and banquet hall in Rosemont is planning to close its doors as soon as January and a possible replacement is a Gene & Georgetti restaurant, officials said Tuesday. If a deal goes through, it would be the first time Gene & Georgetti opens a second location in the restaurant’s 74-year history.

  • Elgin Tower Building project pleases surrounding businesses Oct 11, 2014 7:36 AM
    A plan to convert the Elgin Tower Building into apartments is getting the thumbs-up from nearby business owners and property managers. “There is a demand,” said Katie Lange, leasing agent and assistant property manager for nearby Fountain Square on the River. Developer Richard Souyoul of Souyoul Properties in Chicago said he hopes to close on the property “very, very early next year.”

  • Craft brewery proposed in industrial area of Buffalo Grove Oct 11, 2014 8:23 AM
    Buffalo Grove could see a new craft brewer in an industrial area along Busch Parkway. Raj Chauhan said the plan is to offer a tasting room along with retail sales. “We propose to distribute as well as sell on site,” he said.

  • Residents start moving into One Arlington on Arlington Downs site Oct 9, 2014 8:22 AM
    After years of planning and construction, renters have started moving into One Arlington, the luxury apartment tower that was formerly the Sheraton Hotel along Euclid Avenue in Arlington Heights. The tower was granted partial occupancy on Oct. 2.

  • Elk Grove Food 4 Less grocer plans final checkout next month Oct 9, 2014 6:23 PM
    The Food 4 Less grocery store in Elk Grove Village is scheduled to close next month due to declining sales, officials said. Located in the Mallard Crossing Shopping Center at Meacham and Nerge roads, the store “has been underperforming for quite some time,” a spokeswoman said.

  • Dist. 220 to buy 33 acres near Barrington High Oct 8, 2014 9:27 PM
    The Barrington Area Unit School District 220 board entered into a contract this week to acquire more than 33 acres across Hart Road from Barrington High School. District officials say they have no immediate plans for the site, which is costing $2.35 million. “Such (real estate) needs did not appear in the budget approved last month, and that budget was characterized as challenging and tight,” one opponent said.

  • Des Plaines TIF restructured in hopes of spurring redevelopment Oct 8, 2014 12:48 PM
    Des Plaines’ city council has formally approved ordinances restructuring a tax increment financing district, now operating in the red, in hopes of spurring redevelopment.

  • Dunkin’ Donuts planned for new Mount Prospect shopping center Oct 8, 2014 7:47 PM
    As demolition proceeds on the former Tri-State Electronics building along Northwest Highway in Mount Prospect, a developer is moving ahead with plans to replace it with a new shopping center that will include several tenants, including a Dunkin' Donuts.

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