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Real Estate and Development

Boutique hotel for historic Michigan Avenue building moves forward

The Commission on Chicago Landmarks on Thursday approved a tax break to transform the former Chicago Athletic Association building across from Millennium Park into a boutique hotel.

The Cook County property tax incentive means that developer CAA Hotel Owner LLC can move full speed ahead with a 240-room hotel they say will open by July of 2014. Behind this developer is Chicago-based investment firm AJ Capital Partners LLC and John Pritzker, the son of Hyatt Hotel founder Jay Pritzker. The team bought the property last July for $13 million.

Reinsdorf-founded firm plans West Loop apartments

DeBartolo pays $28 million for Hoffman Estates Mall

Chicago builder takes over Michigan Avenue condo project

Infrastructure Trust considering new clean energy project

The Chicago Infrastructure Trust is considering a new project designed to help property owners finance energy efficiency improvements such as solar panels, CEO Stephen Beitler told board members Wednesday.

The entity charged with funding public infrastructure improvements through private financing so far has only announced one project, Retrofit Chicago. That program is devoted to bringing energy efficiency upgrades to about 100 city buildings.

Dick's Sporting Goods coming to planned South Loop mall

Local home prices inch higher in February

Walton Street venture buying Continental Towers, a casualty of the crash

Advantage Futures trades up to more space

Walgreen plans store in Wrigley Building