March Edition: Who is ready for some good news?

  • Last month we discussed the Hyatt’s Mag Mile conversion to medical tenants, and this month it seems that the Mag Mile will see even more medical use. According to Crain’s, “In a move that charts a new path for the former John Hancock Center—now formally known as 875 North Michigan Avenue—Chicago-based real estate firm Hearn is marketing several floors of the skyscraper’s 900,000 square feet of offices as medical office space, with a vision to grow that share to half or more of the building’s office block in the years ahead.”
  • “A [Palatine] 612-unit property at the intersection of Lake Cook Road and Illinois Route 53. It’s one of the biggest multifamily properties in suburban Chicago to hit the market over the past year and is likely to fetch well over $100 million,” according to Crain’s.