PREI(R) Buys Chicago Prime Commercial Asset



In commercial real estate news this morning, Prudential Real Estate Investors acquired Class A office building 22 West Washington. Situated in downtown Chicago, the $183.5 million property is a 17 story affair with some 439,434 square-feet of usable space.

Prime Property Investors Closes Apartment Deal



In news from Northbrook, Illinois, Prime Property Investors announced the purchase of Deer Valley Apartments in Lake Bluff. The 224 unit luxury complex was offered by San Francisco based Stockbridge Capital Group for a pension plan client.

Chicago Commercial Property – Moving Guardedly



Increased leasing activity in Chicago has some jumping for joy in that market, while other more conservative experts warn of a flat market. Quarter one 2011 showed minimal job growth and a 16 percent vacancy rate going nowhere do not suggest celebration. But, there are positive variables to look at as well.

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