The 234 Apartment

A pair of west suburban apartment complexes have sold for a combined $59 million to investors that plan to fix them up and hike rents. In the bigger deal, Rockwell Partners said it paid $34 million for 313 units in the Huntington Condominiums in Naperville, a property that was converted to condos before the crash but never sold out. Chicago- based Rockwell aims to “deconvert” the property back to apartments by buying back the 43 condos sold by the previous owner, an affiliate of Inland Real Estate Group , said Rockwell Principal Jason Fishleder . That means negotiating deals with every condo owner, a time-consuming and complicated process. The firm wants “to help these condo owners get out whole if not more than whole if we can,” he said. In the second deal, Sinatra & Company Real Estate , a Buffalo investment firm , has paid $25 million for Timber Creek Apartments in Woodridge. Sinatra plans to spend another $4 million to $8 million renovating the 304-unit property at 3421 Fox...

Name: Franke Chung, Jason Wark, Neko the cat, and Ozzy the dog Location: Streeterville — Chicago, Illinois Size: 640 square feet Years lived in: Rented 1 year Many folks who live in studio apartments might agree — they function quite efficiently... until you have company over. That's when there's a sudden shift in the equilibrium. There's one too many bodies in here . Following a handful of drunken sketches at brunch and debates before stress-inducing vignettes at IKEA, we were able to resolve this scenario as best as we could with the layout of our current convertible studio , just a stone's throw away from Navy Pier. Loading Email Sign -Up Form... If the form doesn't load, you can try our mailing list page instead. Like many small space dwellers , we negotiated square footage for a palatable location between our respective work posts . Jason initially shut down the notion of moving to a place half the space we had become accustomed to while living in Cle...

As you do more banking by smartphone, that bank branch you used to visit may soon turn into a restaurant, a day care center or even a condo tower. After a branch building boom a decade or so ago, banks are closing offices by the thousands as more of their customers bank online . They're leaving behind space ready to be transformed into something else, whether an urban storefront or a free- standing brick building with a drive-thru in the suburbs. "If the real estate is strong, any number of things can happen to the property," says Kim McGuire, senior vice president in the Chicago office of CBRE. It's a problem or an opportunity, depending on your perspective, that will be here for a while. Banks operate about 89,300 branches in the United States today , down 8 percent over the past decade, according to Chicago- based real estate firm Jones Lang LaSalle . JLL expects an additional 20 percent drop over the next decade. In the Chicago area, the number of branches d...

AvalonBay Communities, Inc. (NYSE:AVB) Q2 2017 Earnings Call August 03, 2017 1:00 pm ET Executives Jason Reilley - AvalonBay Communities, Inc. Timothy J. Naughton - AvalonBay Communities, Inc. Sean J. Breslin - AvalonBay Communities, Inc. Matthew H. Birenbaum - AvalonBay Communities, Inc. Kevin P. O'Shea - AvalonBay Communities, Inc. Analysts Nicholas Joseph - Citigroup Global Markets , Inc. Nick Yulico - UBS Securities LLC Richard Allen Hightower - Evercore ISI Juan Sanabria - Bank of America Merrill Lynch Andrew T. Babin - Robert W. Baird & Co., Inc. Austin Wurschmidt - KeyBanc Capital Markets , Inc. Dennis Patrick McGill - Zelman & Associates Wes Golladay - RBC Capital Markets LLC Alexander Goldfarb - Sandler O'Neill & Partners LP Vincent Chao - Deutsche Bank Conor Wagner - Green Street Advisors , LLC Richard Hill - Morgan Stanley & Co. LLC Robert Stevenson - Janney Montgomery Scott LLC Operator Good morning, ladies and gentlemen, and welcome to AvalonBay...