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December 22, 2020

This Week's Chicago Deal Sheet

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The Chicago Plan Commission last week approved Structured Development’s $250M Shops at Big Deahl project at 1450 North Dayton St. in Chicago’s Lincoln Park neighborhood. If approved by the full city council, the Chicago-based developer would add three residential towers with 487 units to a 2.2-acre site bounded by Blackhawk, Dayton and Kingsbury streets.

The project’s first phase would be a 10-story, 126-unit market-rate rental building and a five-story, 34-unit condo building, along with a 0.5-acre park. The second phase would be a 27-story, 327-unit market-rate rental tower on the property’s western end near the North Branch Canal.  

This Week's Chicago Deal Sheet

To win approval from 27th Ward Alderman Walter Burnett and other city departments, Structured officials agreed to make all of the condos affordable and also agreed to develop another 33 affordable townhomes at its Harrison Row Townhomes community on the West Side at 2849-59 West Congress Parkway.“By working collaboratively with…

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2021 Will See Workers Return, But Striking A Balance Between Safety And Efficiency Won't Be Easy

2020 has been the year of Zoom conferences, but the advent of several workable coronavirus vaccines seems likely to begin making it safer for workers to return to their offices sometime in 2021. Many tenants may still decide to keep employees at home for an extended period, so landlords will need to decide what they need to provide to get those workers back.

What tenants demand may not be what landlords expected back when the pandemic first started. In spring and summer, much of the chatter among office stakeholders involved how to implement safety procedures such as temperature screenings for workers who returned. Although heightened concerns over future viruses will transform the workplace, months of using advanced conference technology has also changed expectations.

2021 Will See Workers Return, But Striking A Balance Between Safety And Efficiency Won't Be Easy

“For me, the why of why people are going to show up to the office has changed and will continue to change,” 1871 CEO Betsy Ziegler said Dec. 17 during Bisnow’s Chicago Deep Dish: State of the Office webinar. “The experience that they expect when…

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The 5 Biggest CRE Flops In 2020

It will come as no surprise to the regular Bisnow reader that 2020 was a time of worry, woe and wishful thinking for the vast majority of businesses related to commercial real estate.

But for certain sectors of the industry, it was a particularly fraught year to launch new products and projects, and all five of our biggest flops this year fell prey to withering market conditions or a tense political climate. Check out our list of this year’s major stumbles.

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How The New Stimulus Bill Will Impact Real Estate

 

Congressional leaders have completed negotiations on a large stimulus bill that will provide $900B in coronavirus pandemic relief, along with a $1.4 trillion omnibus spending package.

The relief measure, expected to be passed by the House and then the Senate as early as Monday, includes a number of provisions that will help various sectors of the real estate business — though it is missing key programs industry groups lobbied for.

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