Top News for Real Estate Pros
Chicago Office Tower Sells at Massive Discount, Spotlighting National Plunge in?Prices
A 12-story building in Chicago’s Loop business district has sold for $4 million in one of the most jarring examples of falling values for office properties throughout the United States.
San Diego Apartment Sale Ranks Among Region’s Priciest of Past?Year
Property Reserve acquired a 300-unit Palisade apartment property in San Diego for about $203 million, or $677,000 per unit. This deal may be the region’s priciest multifamily deal of the past year and among the largest in California.
Chicago Property Owners Sue To Block Vote on Transfer Tax?Increase
A coalition of Chicago property owners and other real estate and business groups is suing to block a referendum vote on an initiative that would increase transfer taxes on sales of more than $1 million to address homelessness.
Tesla Keeps Expanding in Central Texas, Now With These Plans in Austin?Suburb
The Tesla site in Hutto, northeast of Austin, would add to the company’s growing presence in Central Texas that now extends from the northeastern suburbs of Austin to a manufacturing parts facility in San Antonio.
Executives Say Property Industry Faces Staffing Challenges Even in a Slow?Market
Interviews with search executives, as well as survey results from property and compensation advisory firms, show demand for certain commercial real estate positions, especially those in property management, will remain robust in the year ahead despite a slowdown in dealmaking.