Articles About Development

The cash-strapped State of Arizona may sell the identical House and Senate buildings where legislative business has been conducted for 50 years. A total of 32 properties within the Capitol complex, valued in excess of $1 billion, may be sold and leased for several years prior to assuming ownership again.  Investors would benefit from long-term […]

Manufacturers are feeling sunnier, according to a new Price Waterhouse Coopers poll. The poll, which queried senior executives at 60 industrial manufacturers between mid-July and mid-October, found that 48 percent sense optimism about the American market compared with last year an improvement over the second quarter.  In light of this cautious optimism, 23 percent expect […]

Home prices nationally are on the rise again, according to a new report issued by the Standard &Poor’s/Case-Shiller Home Price Index. The average sale price rose 3.1 percent during the third quarter of 2009, the same percent increase reported during the second quarter.  On the downside, that statistic is still nine percent lower than the […]

Melrose Park’s legendary Kiddieland amusement park may be history, but the site on the northwest corner of North and First Avenues could become home to a long-rumored Costco store. Washington-based Costco’s Chief Operating Officer and Senior Executive Vice President, Dick DiCerchio, has confirmed rumors about the prime site’s potential use.  According to DiCerchio, “The plans […]

Dubai World has entered into discussions with its banks to restructure its $26 billion worth of debt, including $3.5 billion owed by its property unit, Nakheel.  Dubai World is Dubai’s flag bearer in global investments.  As a holding company it operates a highly diversified spectrum of industrial segments and plays a major role in the […]

Chicago’s high-profile skyscraper, the 92-story Trump International Tower & Hotel,  is now the world’s sixth tallest building – a step up from its previous status as the seventh.  The reason?  The Chicago-based Council on Tall Buildings and Urban Habitat, the group that sets height standards  for buildings, changed its measurement criteria. The discarded standard required […]

A new study conducted by the University of San Diego and CB Richard Ellis Group Inc. (CBRE) has found that tenants in green buildings experience fewer sick days and have increased productivity.  Furthermore, researchers determined that green buildings have higher rental rates and lower vacancies. Overseen by Dr. Norm Miller of the University of San […]

Omaha billionaire Warren Buffett’s purchase of the Burlington Northern Santa Fe Railroad (BNSF) is a $34 billion bet on the future of the nation’s economy.  BNSF’s acquisition by Berkshire Hathaway, Inc. is significant because it is the country’s second largest railroad and the primary hauler of food and coal, which makes it a barometer of […]

Because the United States is producing an increasing number of high school graduates who go on to attend college, student housing apparently is recession-proof  real estate.  This is the finding of a recently released report from the National Multi Housing Council (NMHC) that studied the recession’s impact on college enrollment and on-campus dormitory vacancy rates. […]

Don’t waste a good crisis.  Right now is a great time to sit down and rethink and reinvent how we look at real estate and the workplace.  That’s the opinion of R. J. Brennan, Associate and Director of Workplace Strategies at IA Interior Architects in Chicago and former president of the Chicago Chapter of CoreNet […]