Skip to content
Homepage
  • Market
    • Illinois
    • Illinois
    • Indiana
    • Iowa
    • Kansas
    • Kentucky
    • Michigan
    • Midwest
    • Minnesota
    • Missouri
    • N Dakota
    • National
    • Nebraska
    • Ohio
    • S Dakota
    • Tennessee
    • Texas
    • Wisconsin
  • Events
  • Sector
    • CRE
    • Education
    • Finance
    • Healthcare
    • Hospitality
    • Industrial
    • Legal
    • Multifamily
    • Net Lease
    • Office
    • Retail
    • section
    • Seniors Housing
    • Student Housing
  • Real Estate Awards
  • Subscribe
  • Publications

Newly signed leases suggest Old Cook County Hospital redevelopment to move forward

January 22, 2018
Share on Facebook Share on Twitter Share on LinkedIn Share via email

DLA Piper counseled a private development team affiliated with Civic Health Development Group in the acquisition, through long-term ground leases, of the Old Cook County Hospital on Chicago’s West Side. The 99-year leases became effective December 31, 2017.

Terms of the leases bind the developers into finalizing a first phase of construction and development plans for the site, including the historic, Beaux Arts main hospital that was erected in 1916. Restoration work is to begin in the summer of 2018 with the first tenants—including a major hotel, administrative/medical offices and ground floor retail—expected to move in sometime in 2019.

The development group is led by Chicago-based developer John T. Murphy and includes Walsh Investors, Murphy Development Group, MB Real Estate, Plenary Group and Granite Companies, among other members. The team plans to invest approximately $130 million into the project. Subsequent phases of the redevelopment over the next 10 to 15 years will include a new research and technology center, the expansion of the hospital’s existing parking facilities and mixed-use high-rise towers.

DLA Piper’s Chicago-based team that advised the developers was led by partner Robert Goldman with assistance from partner Greg Dahlgren and associate Stacy Osmond.

Tags
ChicagoCook County HospitalDLA PiperGranite CompaniesIllinoisMB Real Estatemurphy development groupWalsh Investors
" "

Subscribe

Subscribe to our email list to read all news first.

Subscribe
Related Articles
WisconsinCRE

Wisconsin’s Boldt Company hires CIO

September 29, 2023
TexasOffice

KBS & Transwestern sign 38,000 square feet with two regional firms at Class A office in Dallas

September 29, 2023
IowaNet LeaseRetail

Marcus & Millichap negotiates sale of Dollar General in Iowa

September 29, 2023
IllinoisCRE

RECAP: 2023 Goldie Gala

September 29, 2023

Subscribe

Subscribe to our email list to read all news first.

Subscribe
REJournals logo

Market

  • Illinois
  • Illinois
  • Indiana
  • Iowa
  • Kansas
  • Kentucky
  • Michigan
  • Midwest
  • Minnesota
  • Missouri
  • N Dakota
  • National
  • Nebraska
  • Ohio
  • S Dakota
  • Tennessee
  • Texas
  • Wisconsin

Sector

  • CRE
  • Education
  • Finance
  • Healthcare
  • Hospitality
  • Industrial
  • Legal
  • Multifamily
  • Net Lease
  • Office
  • Retail
  • section
  • Seniors Housing
  • Student Housing

Subscribe

Subscribe to our email list to read all news first.

Subscribe
  • Contact Us
  • Events
  • Office Locations
  • Advertise
© 2023 REjournals.com