November 8, 2021 marked the end of a 20 month international travel ban. What’s next? Conventions, increased occupancy in downtown hotels, a surge for Chicago restaurants and shops, and more.

The Chicago suburbs experienced an influx in real estate activity due to the Covid pandemic.  While companies transitioned employees to virtual, city dwellers decided it was time for more space and sought homes throughout the greater suburban market. 

Our firm continues to see an increase in medical real estate activity, especially as hospital organizations trend toward a hub and spoke model.

•This month the SBA opened the application portal for an increase in the COVID EIDL. Previously capped at $500,000, now businesses can apply for up to $2M in funding. The loans have a 30 year amortization with a 24 month deferment option and can be used to pay, or even prepay, commercial debt.

Illinois is now accepting applications for the $250 million Back to Business grant. Businesses that have suffered economic hardship due to COVID-19 can now apply for a grant ranging from $5,000 to $150,000.

The former Maywood Park Racetrack has been repurposed as the Chariot Logistics Center with the name paying tribute to the racetrack where races were held until 2015. Approximately 42,000 tons of concrete were reclaimed from the site.