Ricker-Murphy Development LLC and Lake Tower Development LLC, an affiliate of the GE Pension Trust, have secured a $170 million construction loan for the completion of Lincoln Park 2520 in Chicago. Developers have secured a $170 million construction loan for the completion of Lincoln Park 2520 in Chicago. The loan is being provided by a consortium of lenders led by the Americas Division of Sumitomo Mitsui Banking Corporation with partnership between the Real Estate Finance and the Financial Institutions Departments. Lincoln Park 2520, a luxury condominium tower, located at 2520 N. Lakeview Ave., becomes one of the largest residential construction
The federally-established regional planning commission for seven counties around Chicago has unveiled its 30-year plan for developing the region. Randall S. Blankenhorn, executive director of the Chicago Metropolitan Agency for Planning, says it is �the first comprehensive plan for developing Chicago in the century since Daniel Burnham brought out his legendary Plan of Chicago.� The goal of CMAP�s GO TO 2040 plan is to guide development of seven counties in northeastern Illinois�Cook, DuPage, Kane, Kendall, Lake, McHenry, and Will�with a coordinated regional effort. The region�s seven counties contain 284 municipalities in the metropolitan Chicago area. �The metropolitan area currently has
The 50-story, 215 W. Washington Street residential building in downtown Chicago is the first new high-rise residential building constructed in Chicago’s Loop in 15 years. Its owner, Jupiter Realty LLC, Chicago, says the building completed in July is also the first newly constructed high-rise in the Loop expected to receive LEED certification. The 675,000-sq-ft building houses a mix of retail space, parking, apartments and tenant amenities. It also features a 23,000-sq-ft outdoor garden and swimming pool atop the roof over part of the 14th floor. The design and structural construction team for the design-bid-build project included architect Solomon Cordwell Buenz;
Weak private sector demand and diminished state and local construction budgets have shrunk construction employment in Illinois. The state’s construction jobs totaled 198,500 in June, down 19,100 or 8.8% from the June 2009 figure of 217,600. “Nationwide, we’ve seen unprecedented levels of unemployment in our industry,” says Al Leitschuh, president of the Builders Association, the Chicago-area chapter of the Associated General Contractors of America. “We’ve seen shades of improvement here and there, but the drop in employment didn’t happen in one day and it’s not going to improve that way, either. “In Illinois, in particular, they’re still building schools, hospitals
The Christman Co. of Lansing, Mich., has been instrumental in converting an idled historic power plant on the Grand River in downtown Lansing, Mich., into the new national headquarters of Accident Fund Insurance Co. of America. Photo courtesy of Accident Fund Insurance Co. & The Christman Co.; Ike Lea, photographer. Lattice-boom crawler cranes were used to lift steel components in and out of the existing building through two 20- by 25-ft hatches in the ninth-floor roof. Photo courtesy of Accident Fund Insurance Co. & The Christman Co.; Ike Lea, photographer. A barge-mounted crane lifts materials to the Accident Fund jobsite.
It’s time again for Midwest Construction to rank the region’s top specialty contractors who work in trades ranging from mechanical, plumbing, HVAC and electrical, to excavating, concrete work, fire protection, demolition and glazing. Related Links: 2010 Top Specialty Contractors List This year, we’ll lead off with an overview of current conditions in the industry and thoughts from some of the ranked companies about how they continue to deal with the economic downturn. Ed Sullivan, vice president and chief economist for the Skokie, Ill.-based Portland Cement Association, expects little overall improvement in the economy anytime soon. Sullivan, who correctly predicted in
Lutheran Homes of Oshkosh, Wis., recently dedicated Eden Meadows, its new 77-acre campus, on July 18. The three-building Lutheran Homes of Oshkosh Campus was designed and built by Hoffman LLC of Appleton, Wis., and includes Wisconsin’s first person-centered approach to skilled nursing care. div id="articleExtrasA" div id="articleExtrasB" div id="articleExtras" The three-building project, which was designed and built by Hoffman LLC of Appleton, Wis., includes Wisconsin’s first Green House Homes, a new person-centered approach to skilled nursing care.
The founding family of Scheck Industries of Countryside, Ill., has donated a building valued at more than $1.6 million to Seguin Services Inc., to be used for seniors in the area. div id="articleExtrasA" div id="articleExtrasB" div id="articleExtras" The Scheck family donated Rascal’s Restaurant in La Grange Park, Ill., to Seguin, a non-profit agency that assists children and adults with disabilities. The donation was made by Richard and Judy Scheck, Rick and Megan Scheck, Mike and Kate Scheck, and Chris Scheck, in memory of the late Betty Scheck.
The lead tenants are in varying stages of occupancy in new Rosemont, Ill., and Naperville, Ill., office buildings that were developed and constructed by Ryan Cos.’ Midwest Division, headquartered in Naperville. div id="articleExtrasA" div id="articleExtrasB" div id="articleExtras" Rosemont Corporate Center and 111 Shuman Boulevard are the first Class A office buildings to come on line in the O’Hare and East-West Corridor markets since November 2008 and October 2008, respectively. In addition to its role developing and constructing these buildings, Ryan is the property manager for both buildings. Rosemont Corporate Center was constructed on a three-acre site south of Balmoral Avenue,
Paric/Ruscilli, a joint venture between the St. Louis-based Paric and the Columbus, Ohio-based Ruscilli Construction, has completed a major Midwest senior living project, The Stratford at Kenwood in Cincinnati, Ohio. div id="articleExtrasA" div id="articleExtrasB" div id="articleExtras" The $75 million project, an upscale development situated on 20 acres, was completed ahead of schedule. The project features an 18-story residence tower housing 215 independent living, as well as 25 assisted living apartments; 12 skilled nursing units; 12 Alzheimer’s units; and 24 condos. The architect for the project was The Lawrence Group of St. Louis. Bayer Becker of Fort Mitchell, Ky., provided civil
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