Chicago developer eyes apartments for Fulton Market

That vision for the property at the southwest corner of Fulton Street and Racine Avenue could be a key test for 27th Ward Ald. Walter Burnett’s new policy on residential development in Fulton Market north of Lake Street. Burnett has previously cited the pitfalls of future residents opposing new commercial development as a reason for blocking apartment buildings in that area. But in May he said he would lift his ban to try to stoke new investor interest in the neighborhood amid the COVID-19 crisis.

Given the density of office buildings in the area and companies including Google, McDonald’s and Mondelez International establishing it as a corporate destination, the buyers were willing to pay a big number for the chance to add apartments to the mix.

The sale price is roughly seven times the $2.7 million that the seller, Atlanta-based real estate firm Drapac Capital Partners, paid for the property

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Apartments in McKinney and an office building in southwest Dallas were among latest property sales

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Dallas-based Conti Organization has acquired Rustic of McKinney, a 260-unit apartment complex located at 2700 N Brook Drive in McKinney. The acquisition increases the company’s current Texas portfolio to 32 properties with more than 9,000 apartment units. Taylor Hill, Michael Ware, Jay Gunn, Tom Burns, and Will Jarnagin with Berkadia handled the sale.

Industrial Fabrics Inc. has purchased a 40,100 square-foot industrial building located at 3420 Dalworth Street in Arlington. Blake Wilson with Herrin Real Estate brokered the sale with Michael Stanzel with NAI Robert Lynn.

Houston-based Realty.com has purchase an office building in southwest Dallas. The four-story, 63,000 square-foot office building is at 5787 S. Hampton Rd. in Dallas. The Dallas building was acquired as part of a larger purchase from Oxley Leasing.

Hjjr Inc. purchased 3.5 acres of land in the Mira Lagos community on Joe Pool Lake in Grand Prairie. Demian P. Salmon with

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Hamilton buys property to allow 50-plus apartments, save historic double residence

Instead of using that area, the city plans to buy the property at 326 Main St. from the David S. Dennison and Carol H. Dennison Revocable Trust and demolish that building for the space he needs to build the apartments.

ExploreDeveloper: No, apartments won’t work in Hamilton Municipal Building

The city consulted with historic experts who believe the building at 326 Main St. has much less historic value than the duplex does, partly because it has been modified through the years, City Manager Joshua Smith said.

It has a brick office area on the front of it and less historic value, he added.

Because a variety of people expressed interest in the double residence, the city plans to ask would-be buyers of it how they would use it. City officials plan to use the $100,000 from the sale of that building to purchase 326 Main St.

Hamilton residents hope

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Apartments may be next trouble spot for property investors

Where is the next area of pain for commercial property markets? Ask analysts, investors and even the debt collectors responsible for chasing unpaid mortgages and there is usually one common answer: apartment buildings. 

An end to the US government’s stimulus programmes, they say, alongside a moratorium on landlords evicting tenants, will lead to severe losses for investors. 

The logic is straightforward. Tenants, deprived of government stimulus, are finding it harder to pay their rent. Landlords in turn will have less income to pay their mortgages. This is then amplified by eviction moratoriums in many states, which prevent landlords booting out tenants who can’t pay their rent. 

Finally, reduced payments will hit investors that ultimately finance the properties through the commercial mortgage-backed securities market, where property loans are bundled together to back payments on new bonds. But, crucially, this hasn’t happened yet.

The first round of government stimulus, which included an

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International investor takes Farmers Branch apartments and other key D-FW real estate deals of the week

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International investor Excelsa Properties has made its first purchase in the Dallas-area. The Lebanon-based investor purchased Aspen at Mercer Crossing, a 260-unit multifamily community located at 1851 Knightsbridge Road, in Farmers Branch. This North Texas acquisition is the sixth multifamily property acquisition for the firm’s Excelsa US Real Estate I fund which is buying $500 million in U.S. property. Aspen at Mercer Crossing was completed in 2019.

Equus Capital Partners Ltd has acquired McKinney Village, a 245-unit apartment community at 201 McKinney Village Pkwy McKinney. The acquisition was made on behalf of Equus Investment Partnership XI fund. Brian O’Boyle Jr., Steve Comly and Eric DeStefano of Newmark Knight Frank brokered the sale.

EBO Marketing Inc., developer of Sandy Lake Office Park, has sold the property to local accounting firm JV Empire LLC. The office buildings have 9,224 square feet and are at 1507 and 1529 E. Sandy

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How To Find Bad Credit, No Credit, or Broken Lease Apartments In Louisville KY

Are you hunting for an apartment in Louisville but have been repeatedly denied because of your credit or rental history? This is more common that you realize and numerous and individuals are reporting that acute frustration especially when it comes to locating an apartment in this city known for its warmth, hospitality and world-class performing arts. The frustration results from a routine procedure by area apartments to conduct credit and rental history checks on most applicants. If you have prior issues with your credit or have had a broken lease in your history, there is a high chance that you will be denied a decent apartment in Louisville. The key to overcoming this therefore lies in your being able to successfully locate apartments that either, do not conduct credit checks, or those that are lenient towards applicants who have previous issues.

Canvassing the city of Louisville has unearthed several locations … Read More

Eight Tips to Consider When Looking at Apartments for Rent

Finding apartments for rent can be a stressful task. However, there are several tips that can alleviate the annoyances and make the search for a new place fun.

Be Specific

When apartment hunting, make sure to determine which features are a must-have and where it’s okay to compromise. If there’s a perfect two bedroom in a great location, but it lacks the perfect yard, it may be time to adjust priorities. Decide what is necessary and stick to it, but try to remain realistic.

Find Out the Included Utilities

This is another major must-do when looking for a new place. Many rentals include some utilities, but there are hidden costs to look out for such as trash or water costs. If not included, these costs can add up quickly. As well, there may be additional charges for parking or a security system.

Ask Around

This may seem obvious, but asking … Read More

Temporary Walls to Section Off Your Apartment’s Space

A lot of individuals these days are choosing to have a roommate live with them in order to be able to make ends meet. The recession is still affecting a multitude of people adversely. So, in order to cut back on some of the stress it is fairly common to see people in NYC asking for roommates. All you need to do is install temporary walls in your present apartment, and you will be able to have a roommate stay with you, without being burdened by having them in your living space.

A temporary wall is nothing like a traditional wall, where excessive work has to be done to it. In fact, a lot of landlords do not have any problems with one of these walls being erected, because they go up pretty easy and they can be taken down accordingly as well.

The benefits of having one of these … Read More

The Different Types of Apartments

When visiting a great destination, deciding where you must stay at is a difficult task. There are already several options to choose from. Would you stay in a hotel, a villa or in an apartment?

Experts say that staying in an apartment is a better option, most especially when you are staying for several days or weeks. You certainly can save a huge amount of money. Also, you will have more living space. Also, you get to cook your own food and wash your clothes.

Apartment Types

Convertible – This features a space large enough to be walled off. Such space can also be used as bedroom or a dining area. For instance, a convertible 2-bedroom is a place with a huge bedroom along with an area which can be walled off to create another bedroom.

Studio – This has a single room with a kitchen and full bathroom. It … Read More

Different Types of Apartments!

There are many types of apartments and it is important to know about all of them. These different apartments have been listed and explained as below.

Convertible

A convertible apartment is an apartment that features a space that is large enough to be walled off and it can be used as a bedroom or a dining area. Take for instance, a convertible two-bedroom apartment is a place that already has a very large bedroom as well as an area that can be walled off in order to create a second bedroom for the users.

Studio

A studio is a single room that has a full bathroom and also a kitchen. It can also have an alcove for the purpose of dining and/or dressing.

Loft

A loft is a one large room that is usually located in a particular building that is used for purposes that range from residential to commercial … Read More