@agallun

Recovering journalist. Now chasing talent, not stories.

 Chicago, IL
Joined March 2009
  • Tweets8.3K
  • Following641
  • Followers2.7K
205Media
Breaking news ICYMI, @ETHSports: Boys varsity lacrosse got a “W” in Highland Park last night. And in case you are interested, the team travels to Oak Park Friday night for a matchup vs. OPRF.
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Hey @ETHSports, how about an update on the boys varsity lacrosse game vs. New Trier?
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After a deal with one data center developer collapsed, a deal is in the works with another one for the sprawling Sears campus in the Chicago suburb of Hoffman Estates. chicagobusiness.com/commerci… @crainschicago

Data center developer to buy Sears headquarters in Hoffman Estates

A data center project on the Sears campus would represent another major step in the reshaping of office parks and corporate headquarters across suburban Chicago.

chicagobusiness.com
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Hey Cook County property owner: Wondering where your property tax bill is? Here's your answer. chicagobusiness.com/commerci… via @crainschicago

Wondering where your property tax bill is? Here's your answer.

If you live in Cook County, your next bill will be arriving late — again.

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On the latest Daily Gist, reporter @agallun talks with host @amyguth about condo deconversions around the city. ow.ly/lCQh50PfBte

Condos-to-apartments deals dot Chicago landscape: Crain's Daily Gist podcast

Crain's commercial real estate reporter Alby Gallun talks with host Amy Guth about condo deconversions around the city.

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On the latest Daily Gist, reporter @agallun talks with host @amyguth about the city's Invest South/West program, its construction costs and where it fits into the broader South and West side economies. ow.ly/rZcn50P8Kub

Invest South/West's big construction tab: Crain's Daily Gist podcast

Crain's reporter Alby Gallun talks with host Amy Guth about the city's Invest South/West program, its construction costs and where it fits into the broader South and West Side economies.

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Many thanks to @WBEZreset and @MichaelJLiptrot for inviting me to a discussion with @SashaAnnSimons and @davedoigchi about @chicago's Invest South/West program. I enjoyed the conversation. wbez.org/stories/invest-sout…

Invest South/West faces rising construction costs

The program’s affordable housing developments are costing more to build than luxury apartments in the River North and the Gold Coast.

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It costs about $450,000-$500,000 per unit to build a luxury apartment tower in downtown Chicago. But it costs more--a lot more--to build affordable housing through the city's Invest South/West program. Here's why. chicagobusiness.com/commerci… @crainschicago

Invest South/West projects ring up sky-high construction costs

Affordable housing financed through Lori Lightfoot's signature economic development program costs far more to build than the most expensive apartment towers in the city. Here's why.

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For many in Chicago, Sam Zell will be remembered for one his worst deals: his failed Tribune Co. takeover. In the real estate world, he'll be remembered as a creative, contrarian dealmaker who made billions, and not just by "grave dancing." chicagobusiness.com/obituari… @CrainsChicago

Sam Zell, legendary investor with a taste for risk, dies at 81

Sam Zell was a billionaire investor dubbed "the grave dancer" for his bets on distressed assets, including a losing wager that drove the Tribune into bankruptcy.

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“Sam really was the godfather of the modern REIT era,” said Wateron CEO David Schwartz. “Not only that, but he also pioneered casual dress in the office, being one of the first CEOs to wear jeans.” chicagobusiness.com/commerci…

Blackstone exec recalls late real estate billionaire Sam Zell's 'genius' deal

“He played it perfectly both from a timing standpoint on the exit and then on the process,” Jon Gray said of Zell's $39 billion sale of Equity Office Properties Trust.

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An Oregon apartment investor has bought a 42-story Loop high-rise for $98 million, a discouraging price for anyone who wants to sell a downtown multifamily tower these days. ow.ly/KuYn50O71Kk

Developers of Loop apartment tower take a hit in $98 million sale

The sale confirms the broader narrative that’s unfolding in downtown Chicago as rising interest rates and property taxes, along with a wariness among investors and lenders, depress property values.

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What motivates Iowa developer Mike Whalen? "It's fun to take a turd blossom and turn it into something beautiful," he says. chicagobusiness.com/commerci… @crainschicago

Apartment project next to Lincoln Yards secures $48 million loan

“It’s fun to take a turd blossom and turn it into something beautiful,” says one of the project's developers.

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Here's a scoop from my colleague @DannyEcker about trouble brewing at one of Chicago's tallest skyscrapers, which is facing a July 1 maturity date on $678 million in debt. chicagobusiness.com/commerci… @crainschicago

Aon Center owner staring down loan trouble

The skyscraper's New York-based owner says it needs more time to pay off its debt as a July deadline approaches — a red flag that the city's second-tallest office tower could add to the rampant...

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About four years after securing approval for a 246-unit apartment project in Deerfield, the owner of the development site has decided not to build it after all. chicagobusiness.com/commerci… @crainschicago

Owner of Deerfield shopping center to sell apartment site next door

The Deerfield Village Board in 2019 approved plans for a 246-unit housing development next to the Deerbrook Shopping Center. But the property's owner never broke ground.

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City panel revives landmark proposal for State Street towers chicagobusiness.com/commerci… via @crainschicago

City panel revives landmark proposal for State Street towers

The federal government wants to raze the Century and Consumers buildings. Preservationists want the city to save them.

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Vuori store in Gold Coast sells for $12 million chicagobusiness.com/commerci… via @crainschicago

Vuori store in Gold Coast sells for $12 million

The property has lost value since it last sold in 2014, when Starbucks leased it.

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One partner lives in his office outside LA. The other one has a home in the Hamptons but not much else aside from some old cars. Do they have any money to pay a $28m settlement with their Chinese investors? chicagobusiness.com/commerci… @crainschicago

Accusations fly as court battle over failed River North high-rise heats up

Chinese investors put up $50 million for a project, expecting to get a condo-hotel tower and U.S. visas. They got neither, and developers haven't given the money back.

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After he was released from a federal prison camp in Duluth, Minn., in 2017, John Thomas persuaded investors that he had turned around his life and could be trusted with their money. Multiple lawsuits and bankruptcies tell a different story. chicagobusiness.com/four-sta… @crainschicago

Born-again dealmaker: The felonious adventures of a Chicago mole

With a fresh start, John Thomas finds investors willing to back his new real estate business, but lawsuits and bankruptcies start to pile up.

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What happened after a federal judge gave John Thomas a second chance? What happened when the frog gave the scorpion a ride across the river? Find out by listening to the 3rd episode of "The felonious adventures of a Chicago mole," a @crainschicago podcast. chicagobusiness.com/four-sta…

The scorpion and the frog: The felonious adventures of a Chicago mole

John Thomas squanders his second chance and tests the patience of a federal judge.

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John Thomas was never able to do a real estate deal with @realDonaldTrump, but he did earn something else back in the 2000s: a "Get Out of Jail Free" card. It was the payoff for his side hustle as an informant for federal prosecutors. chicagobusiness.com/four-sta… @crainschicago

The side hustle: The felonious adventures of a Chicago mole

While chasing real estate deals in Chicago, John Thomas gains experience with recording devices — and curries favor with federal prosecutors.

chicagobusiness.com
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