New developments in Chicago

Principle Real Estate Investors have purchased the 191,418 square foot shopping center, located at the 413 N Milwaukee Avenue. The Marketplace is located at the Vernon hills, IL, a suburb north of Chicago. The Marketplace has five tenants at present, which include the DSW Shoe Warehouse, Ashley Furniture Industry, Old Navy, Bed, Bath & Beyond and Jo-Ann Stores. The marketplace is fully leased. The location, strong credit and lease term has made this transaction a profitable for the investors.

One of Chicago’s diversified development groups the Centrum properties owes its popularity to its ability to combine new developments with that of the existing one. Centrum properties are developing the Kingsbury Park on a 30-acre land on the north side of Chicago; they are also converting the former Montgomery Wards headquarters into 260 luxury residences.

Chicago will have the nation’s tallest tower with the development of 2000- foot tower that will rise above the lakefront.