TW Chicago

Congratulations to Transwestern Chicago's Bonnie Boden Barry, RPA, HP, LEED Green Associate and Andrew Davidson, who are among Crain's Chicago Business Notable Leaders in Commercial Real Estate for 2024. https://lnkd.in/eQS4VSqd As Crain's writes, "honorees' work exemplifies the breadth of the Chicago area's commercial real estate industry." We are consistently proud of and inspired by the ways in which Bonnie and Andy positively affect the asset services and tenant advisory worlds, as well as the commercial real estate industry as a whole. #chicago #cre #commercialrealestate #assetservices #tenantadvisory

Vacancy rates have gone down in Chicago's suburban office market, but only because inventory is being removed, not because of increased demand. While the Bell Works Chicagoland redevelopment in Hoffman Estates has successfully signed several tenants, other buildings continue to face severe financial difficulties. Tenants in Chicago’s suburban office market will increasingly find that properties with financially stable owners are limited. Read the latest Chicago Suburban Office Market report from the Transwestern Chicago Research team below. #chicago #CRE #chicagosuburbs #commercialrealestate

As Transwestern Research Director Caitlin Ritter told the Urban Land Institute in this article, office buildings in Chicago's Central Loop are experiencing a downward trend predating Covid-19. But she thinks adaptive-reuse projects like the LaSalle Street Reimagined initiative from the Mayor's office can have a major impact on both CRE vacancy rates and housing shortages:   "It will, A, take a good portion of obsolete office inventory out of the market, which will reduce the vacancy rate; and B, add residents to the downtown area, which will help it become more of an 18-hour live/work/play environment and support street-level retail and activity, which would also make the area more attractive to office users.” #multifamily #Chicago #ChicagoLoop #office #downtownrevitalization #adaptiveuse #CRE #commercialrealestate

Chicago’s Central Business District continued to struggle in the second quarter, as shown in the latest Chicago CBD Office Market Report compiled by our Research team. Five office properties were acquired with a significant depreciation in value while the CBD saw new record-high vacancy rates. It will be crucial for prospective tenants to understand the financial standings and intentions of owners for the buildings they are considering. #Chicago #CRE #commercialrealestate #ChicagoCBD #officemarket

The Transwestern Chicago Research team has just released the Chicago Industrial Market report for the second quarter 2024. According to Caitlin Ritter and Tanita Bradley, the Chicago industrial market’s direct vacancy rate increased for the sixth consecutive quarter to 5.6% due to 3.4 million square feet of new inventory. Will a slowdown in new construction allow the market to reach a new equilibrium? Read more below. #Chicago #CRE #Industrial #commercialrealestate

Columbia Centre III is a premier, Class A building that provides the best-in-class location and amenity package within the O’Hare submarket. It is the epitome of peak work-life balance with its location adjacent to Parkway Bank Park Entertainment District and amenities including a fitness center, Morton’s steakhouse, conference and training rooms, and a complimentary shuttle service to the CTA Blue line. The building has availabilities ranging from 1,850 to 96,000 square feet, with some even featuring private outdoor balconies, encouraging a productive and creative work environment for companies of all sizes. Contact Joseph Stevens or Steve Degodny to learn more about this unparalleled opportunity. #chicago  #chicagoburbs  #oharesubmarket #cre  #officespace  #commercialrealestate

Transwestern’s Caitlin Ritter and Jenna Oxnevad joined Urban Alliance Chicago to assist in mock interviews for Urban Alliance’s high school internship program. Both Caitlin and Jenna agreed that it was a profound experience for the students and interviewers. The students spoke about how much the program has helped them improve their confidence and communication skills, while the interviewers felt inspired by how much the interviewees spoke about how they want to give back and help others! As Caitlin says, “If anyone needs a little inspiration and hope for the future, try to get a spot in their next round of mock interviews!” We look forward to participating again in the future! #TWBelonging #youthoutreach

Two of our talented team members have once again been recognized for their hard work and dedication! Bonnie Boden Barry, and Cece Conway were both included as a part of GlobeSt.com's Women of Influence Class of 2024. Bonnie was recognized for her mentor efforts while Cece was honored in the tenant representation category. We couldn't be more proud of them and are thankful to have these two incredible women on our team! For more information about the honorees: https://lnkd.in/dHvdN27S #GlobeStWOI #CRE #WomenofInfluence

Commercial real estate is fun! Just ask the Boys & Girls Clubs of Chicago—several teens from the organization got to visit the Civic Opera Building. The historic landmark at 20 North Wacker Drive is leased and managed by Transwestern, and our local building team, engineers, and brokers were more than happy to give this great group of kids a tour. The young minds learned about boilers, inspected the Lyric Opera Theatre's box seats and stage, received a lesson in office spec suites, hung out on the rooftop deck tenant amenity, and played a very riveting game of Bingo. There was also pizza!   Thank you to everyone who spoke with the kids, including General Manager Cate McCormack, Property Manager Carolyn Brennan, Senior Director of Facilities at the Lyric Opera of Chicago John Yelen, building engineers Fred Libert and Mason Gennardo, and Agency Leasing Vice President John Nelson. #Chicago #CivicOperaBuilding #LyricOpera #CommercialRealEstate #CRE

Transwestern Chicago broker David P. Kimball, Andrew Davidson, and Jay Beadle are pleased to announce that 1100 West Monroe Street is for sale. The 31,600-square-foot site is home to a 48,500-square-foot brick-and-timber warehouse and loft. To the right buyer, this West Loop property could serve as an owner-user opportunity or even a ground-up development. Reach out to David Kimball for more information. #Chicago #WestLoop #FultonMarket #CRE #ForSale #warehouse