Great Chicago Home Sales in April
A weak March has been balanced out by great chicago home sales in april. In contrast, Chicago’s home contract activity and pending sales have flattered, and distressed home sales continue to flag.
The news of great Chicago home sales in April is an indication that once again, now if the best time for buyers and sellers to get together and work out a mutually beneficial deal. Please contact Erik Henson today if you would like to get into the Chicago Real Estate market while the time is right.
Old Main Post office sold
The mayor’s office has recently announced the sale of the old Main Post Office to the development company 601W. This marks a possible shift in the ecosystem of downtown Chicago, as the old Main Post Office has lurked for years as both an eyesore and a possible location for innovation and development.
Mayor Rahm Emanuel said as much in a statement, noting that the sale could be a “an economic driver for the city of Chicago”. Although final terms of the deal were not available, occupants are expected in the building by 2018.
Chicago’s Soho House Could Sell for $125 million.
In the “just for fun” category, it was announced the JLL has been hired to sell the Chicago Soho House. Soho House leases its building from a Shapack-AJ Capital joint venture, so a buyer would collect rent from Soho House but be one step removed from its operations. Potential buyers are likely to be those interested in the predictable cash flow from the lease. The deal could also attract investors wanting to make a long-term bet on real estate values in the neighborhood. JLL is hoping to sell this iconic building for $125 million. Quite an eye-opening number!!
