Articles by Cooper Billingsley

Sterling Bay Plans Property Sales for Lincoln Yards Megadevelopment

7:30 am on April 20, 2024 By Cooper Billingsley

Sterling Bay is seeking a financial partner for the Lincoln Yards megadevelopment and is planning to sell land adjacent to the 53-acre site to meet debt repayment deadlines. CBRE has been hired to sell properties at three locations,1907 N Mendell Street, 1901 N Elston Street and 1500 W Cortland Avenue, which were initially part of the $6 billion mixed-use project. Amid financial difficulties, Sterling Bay has been selling properties, including an industrial property sold last year for $4 million, Crain’s Chicago Reported.

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Financing Approved For Mixed-Use Project at 3601 W Chicago

7:45 am on April 19, 2024 By Cooper Billingsley

The Chicago City Council has sanctioned a $25 million bond for The Ave, a multi-family housing project. The Ave, which won the Chicago Ave Invest South/West RFP site in late 2021, will be situated at 3601 W. Chicago, replacing the existing Neighborhood Housing Services office and a city-owned commercial building. The project, led by KMW Communities, POAH, and CEC, will be a four-story structure housing 52 affordable apartments, a Neighborhood Housing Services space, an innovation center, 16,000 square feet of retail space, and a ground-floor parking area for 32 vehicles.

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City Council Grants Funding For Ogden Washtenaw A2

7:45 am on April 17, 2024 By Cooper Billingsley

Chicago City Council has granted $9 million in TIF funcding for Ogden Washtenaw A2, a segment of the Ogden Commons development located at 1312 S. Talman. This joint venture involves The Habitat Company, Lawndale Real Estate, and Sinai Health System. The development will comprise a 4-story building housing 75 mixed-income units, ranging from studios to three-bedroom apartments.

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Evanston Environment Board Considering Parking Requirements Overhaul

7:30 am on April 16, 2024 By Cooper Billingsley

Evanston’s Environment Board has established a committee to study the transition from minimum to maximum parking requirements for new developments. This initiative responds to requests from council members and community organizations aiming to reduce parking to promote public transit, cycling, and walking. The findings will be incorporated into the Envision Evanston 2045 comprehensive plan.

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One Chicago on skyline (left)

Illinois Building Standards Board Rejects All-Electric Code

7:45 am on April 15, 2024 By Cooper Billingsley

Illinois’ governing board overseeing building standards has chosen not to adopt the all-electric code, which would have made electric systems mandatory in new construction. Chicago and surrounding areas to have chosen to limit natural gas usage in new buildings. Initially integrated into the Illinois stretch energy code, the rejection stemmed from concerns regarding potential legal liabilities for communities according to CarbonCredits.com.

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