Emma Whalen

🏆New Building: The largest new construction permit issued last week was for a $190 million high-rise development in the Near North Side, where Onni Group secured plans to build a 46-story tower at 931 North Halsted Street. The project will feature 464 units, including 81 affordable units, along with an exterior amenity deck, a pool on the sixth floor and 209 parking spaces. The architect of record is Raymond Hartshorne.

Multifamily investor Jonathan Holtzman got a lifeline last week when he and lender Prime Finance agreed to a deal for Prime to buy back the MDA Apartments rather than continue litigating a foreclosure lawsuit against the property that the lender filed in late 2024

California and New York-based firms tap into the region's active market Chicago's senior living hot streak continued with two transactions totaling $74 million completed in the same suburb last week.

🏆Alteration: The largest alteration permit issued last week was in Lakeview for $27 million of infrastructure renovation work at 655 West Irving Park Road. The project at the co-op building includes replacing water risers, waste and vent piping, and HVAC piping, as well as installing new ceilings on three floors. The architect is Nevin Hedlund.

A dual-branded hotel near O'Hare International Airport is caught up in a foreclosure tied to the U.S. EB-5 visa program which grants visas to foreign developers who invest a certain amount of capital into U.S. real estate.

Greenwich, Connecticut-based alternative investment firm, Strategic Value Partners, inked a deal last week to partner with Gabal on the conversion of 300 West Adams Street , public records show. A $12.5 million deed denoting the transaction was recorded publicly, though the exact structure of the agreement is unclear.

The condo board for the tower closed a buildingwide vote this week that came in with about 34 percent of owners rejecting the $98 million offer from Klor, according to a board announcement in the building's Facebook group.

In one sale, the influential Wirtz Family offloaded a long-held property to a pair of local investors for $34 million and in the other, local firm Becovic Chicago bought a property for $26 million from a Connecticut-based investment group that has run into trouble on similar deals in the city

🏆 Alteration: The largest alteration filing last week was in Hyde Park, where The University of Chicago secured permits totaling $10 million for work at 5207 South Harper Avenue. Hyde Park Labs is a life sciences incubator developed in collaboration with The University of Chicago, Trammell Crow and Beacon Capital Partners. The permits cover initial buildout work on the eighth floor of Hyde Park Labs, including a $3.5 million quantum lab space, a $3.5 million wet lab and a $3 million corridor and conference center. Barry Bebart's Barry Bebart Architecture is the architect.

Sales volume grew 67%year-over-year as larger institutional deals drive investment, Interra found