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  #1921  
Old Posted Aug 7, 2018, 3:17 AM
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Online retailing firm doubling downtown space

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  #1922  
Old Posted Aug 7, 2018, 4:47 AM
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350 N. Orleans St has been doing really well in terms of leasing activity

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With the Shoprunner deal in hand, the building will be less than 8 percent vacant, down from 25 percent at the end of last year, according to real estate information company CoStar Group.
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  #1923  
Old Posted Aug 7, 2018, 5:12 AM
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350 N. Orleans St has been doing really well in terms of leasing activity
It's gotta be the paint job. Instalease TM concrete paint: It really realllly works! Buy one before the end of this commercial and get two free!
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  #1924  
Old Posted Aug 7, 2018, 11:51 AM
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Article states they have a few dozen people there but plan on expanding to 100 within the next 18 months.
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  #1925  
Old Posted Aug 7, 2018, 10:47 PM
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It may be an ugly building, but you can't say it isn't profitable. Since it ain't going away for a long time, I'm glad that Wolf Point will obscure it into visual irrelevance.

Also glad to see the occupancy rate drop that quickly in one year. River North is the weakest office sub market in the city, so space tightening up there might mean Chicago could see another office tower get proposed and/or built before the real estate market goes belly up.
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  #1926  
Old Posted Aug 7, 2018, 10:50 PM
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Also glad to see the occupancy rate drop that quickly in one year. River North is the weakest office sub market in the city, so space tightening up there might mean Chicago could see another office tower get proposed and/or built before the real estate market goes belly up.
Where did you get the idea that River North is the "weakest" submarket? I believe it has the lowest vacancy rate
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  #1927  
Old Posted Aug 7, 2018, 11:02 PM
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^ Yup, you're right, I remembered incorrectly. River North is one of the tightest sub markets in the city, behind only the South Loop.
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  #1928  
Old Posted Aug 8, 2018, 12:24 AM
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Isn't it a lot more time consuming as well, as compared to a typical residential rental? I hear from my tenants maybe once every couple of months per building typically (thankfully I have mostly quiet tenants!). With an AirBnB, seems like I'd have to be constantly fielding calls and dropping off keys, answering questions, etc. Whats your experience like, LVDW?
There are services that will handle everything for you. I am a long-time host, but I live in my listing and only Airbnb my guestroom, not the entire place so my experience is a bit different, but beyond services, there are ways to self-manage that don't require all that much extra effort. Many guests actually prefer it if they can check themselves in, so if you have electronic locks or a good place to leave keys, you can avoid trying to coordinate checkins yourself. I insist on meeting the vast majority of guests myself, so that is what takes the most time in my case, but many hosts don't really spend much time doing that. Even if you don't go the management agency route, you can get housekeepers to do a lot of the prep work. Management or housekeepers eat into your profits, but if it's an investment property you just factor it into the business model and can still earn a nice return. The one downside to renting whole places is that you're more likely to run into inconsiderate or malicious guests. It's still mostly rare, but if it happens, it's far more likely to happen when you're renting out a whole place as an investment and, in the big picture, probably no more likely than having a bad long-term tenant.
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  #1929  
Old Posted Aug 8, 2018, 1:51 AM
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Popular Pays raises $5.5M to help brands get better at digital advertising

https://www.builtinchicago.org/2018/...ries-b-funding

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Popular Pays, a platform companies in need of digital content can use to connect with creators, announced on Tuesday that it has raised a $5.5 million Series B.
Quote:
The company received a $5.2 million Series A in April of last year and is hoping to build on foundations established following that round.
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The company’s team nearly doubled following its Series A, moving from 23 employees to 40. This funding will allow Popular Pays to add another dozen employees over the next year.
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  #1930  
Old Posted Aug 8, 2018, 1:53 AM
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Americaneagle.com opens 100-person downtown office to fuel continued growth

https://www.builtinchicago.org/2018/...chicago-office

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Headquartered in Des Plaines, the web development firm launched a Chicago office this summer with room for 100 employees. The new 20,000-square-foot space is in the Civic Opera House, conveniently located next to Ogilvie transportation center.

By opening a Chicago office, Americaneagle.com hopes to attract more Chicago-based talent and reduce commutes for clients and employees already in the Windy City.
^ They have 400+ employees, so basically making room to move a quarter of their current company (potentially) from Des Plaines to downtown.

------------

Also, a maker of Pisco from Chile has decided to set up their operations in Chicago to make the first Pisco in Chicago. Located at 2021 W Fulton Market which is just a little bit west of Damen.
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  #1931  
Old Posted Aug 8, 2018, 1:05 PM
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National Louis gets final approval to acquire Kendall Culinary

National Louis, Kendall deal done Culinary and hospitality program deal approved
By Robert Channick Chicago Tribune

The mother of all college transfers is officially on the books.
National Louis University closed Monday on its acquisition of Kendall College’s acclaimed culinary and hospitality programs, a deal that also transfers Kendall’s entire student body to National Louis..
Most Kendall students won’t be moving from their Goose Island campus this year, however, as National Louis builds out new facilities at its South Michigan Avenue campus to accommodate the transfers... for-profit Kendall’s five degree programs and 800 students into the broader academic offerings at National Louis..

While Kendall moves under a new banner — the Kendall College of Culinary Arts and Hospitality Management at NLU — most of its students will spend one more year on their old Goose Island campus before relocating to newly renovated facilities on National Louis’ flagship Chicago campus.
National Louis owns five floors in the 107-year-old, Daniel Burnham-designed Peoples Gas Building at 122 S. Michigan Ave. The school is hoping to add a sixth floor to its historic digs for the Kendall programs, Megahed said.
“We’ve been doing a lot of careful planning around what we need to build,” Megahed said. “We are essentially constructing kitchens, a dining room, cafeteria, classrooms, a wine room — a full floor that has all the program requirements for culinary and hospitality.”
If National Louis is unable to add a sixth floor at its current campus, the school will explore a nearby location, Megahed said.
“Our intent is to stay in this vibrant corridor where there’s restaurants and hospitality services and tourism and hotels because that’s what we’re preparing students to do, to enter that sector,” she said.

Commercial real estate services firm Savills Studley said it has been hired by Laureate to sublease the 170,000-square-foot Kendall building on Goose Island as office space.....
In January, the company said it would “embark on a process” to consider options for the property after Kendall students vacate.

The addition of Kendall’s culinary and hospitality programs creates a fourth college for National Louis, which has more than 7,400 students on six campuses in Illinois and Florida.

rchannick@chicagotribune.com
Twitter @RobertChannick
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  #1932  
Old Posted Aug 8, 2018, 6:38 PM
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Pinterest is moving to the "West Loop" (Canal) from River North. Apparently they have 115 employees in Chicago and looking to expand. Also, the same article says that Salesforce has a headcount of 1000 in Chicago now. With some light rumors on here, it'll be interesting to see what they want to expand to if the rumor is true.
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  #1933  
Old Posted Aug 8, 2018, 8:15 PM
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PerkSpot Receives $50M Investment from Susquehanna Growth Equity

https://www.prnewswire.com/news-rele...300694136.html

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PerkSpot (the "Company"), a rapidly-growing Chicago-based HR technology platform, today announced a $50 million growth equity investment from Susquehanna Growth Equity (SGE). The funding marks the first outside investment for PerkSpot.
Quote:
Over the past two years, PerkSpot has grown to over 750 clients and nearly tripled its revenue by focusing on employee needs.
Quote:
The key to our success thus far has been attracting top talent that are committed to winning the right way and putting our clients first," said Jace Mouse, PerkSpot's CEO. "This investment is a testament to our employee-focused product strategy, and we look forward to the opportunity it brings by growing our team and product suite to provide even more benefits to employees in the future."
They are currently located in River North. Even if they only use half of their investment to hire new people, they are still looking at hiring over 150 people of the average employee cost them $150K.
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  #1934  
Old Posted Aug 10, 2018, 11:00 PM
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More about PerkSpot. They have 40 employees right now and looking to get up to 100 by 2 years time.
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  #1935  
Old Posted Aug 13, 2018, 9:35 PM
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Saw this posted in another thread, and thought that this would be relevant to Chicago & Illinois' agriculture scene

Agriculture to move two agencies outside of Greater Washington — and quickly
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The Department of Agriculture is planning to relocate two D.C.-based subagencies outside of Greater Washington and in rather quick fashion, citing, among other reasons, problems recruiting personnel to the region.

The executive department responsible for overseeing farming, forestry and food announced last week its Economic Research Service, a provider of research on agriculture and economics, and the National Institute of Food and Agriculture, a consolidator of federally funded agriculture research, would both move outside the National Capital Region by the end of 2019.
....
New locations have not been determined and it’s possible the two subagencies will be co-located, according to last week’s announcement.

The Agriculture Department says it is shifting the two offices and their hundreds of employees to place them “closer to stakeholders” and to improve the agency’s ability to attract and retain personnel. The Agriculture Department said it has experienced “significant turnover” within these offices and has found it difficult to recruit employees to Greater Washington “given the high cost of living and long commutes.”
https://www.bizjournals.com/washingt...ml?ana=wtop_bd

Pure speculation., but if they want to be closer to stakeholders and want to fill about 700 federal jobs, what are the odds of the offices relocating in the Chicago metro?
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  #1936  
Old Posted Aug 13, 2018, 9:49 PM
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I don't know how the federal agency would choose. If it was up to Trump it would go to a red state. If it was independent of Trump you couldn't get any closer to the center of the big Ag ADM,Conagra, ect, farms and trading markets than Chicago. Not sure how much this department does international flying but No other city in the Midwest has direct flight access like O'Hare does if that counts in the equation.



https://af.reuters.com/article/africaTech/idAFL5N1V45AI

August 13, 2018 / 11:52 AM / Updated 5 hours ago

EU wheat slides with Chicago as USDA report eases supply jitters


PARIS, Aug 13 (Reuters) - European wheat futures fell nearly 3 percent on Monday, tracking steep losses in Chicago after a closely followed U.S. government crop report made smaller than expected cuts to global wheat supply and projected record U.S. soybean and corn yields.
December milling wheat, the most active contract on Paris-based Euronext, settled 6 euros, or 2.8 percent, lower at 206.75 euros ($235.47) a tonne. It earlier touched a session low of 206.50 euros, a level last reached on Aug.

Chicago wheat, the global benchmark, fell sharply for a second day as investors continued to react to Friday’s U.S. Department of Agriculture (USDA) monthly crop report.




6 year old video.

Miss the old open outcry

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3 days ago ADM report
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The only way you have never heard of ORION SAMUELSON means you never listened to WGN radio

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  #1937  
Old Posted Aug 13, 2018, 10:18 PM
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Originally Posted by Randomguy34 View Post
Saw this posted in another thread, and thought that this would be relevant to Chicago & Illinois' agriculture scene

Agriculture to move two agencies outside of Greater Washington — and quickly

https://www.bizjournals.com/washingt...ml?ana=wtop_bd

Pure speculation., but if they want to be closer to stakeholders and want to fill about 700 federal jobs, what are the odds of the offices relocating in the Chicago metro?
Chicago would be a consideration, I'm sure, although if Washington is being left due to big city problems, Chicago might not be as much of a leading choice. Then again Chicago is central to at least four of the top ten Ag research universities (UIUC, UW-M, MSU, Purdue), so that might help.

Minneapolis (Cargill and the Minneapolis Grain Exchange) or Kansas City (close to a lot of wheat) might be better suited. Kansas City is also in a Red state, so if it does have a political component that might be relevant. But really, when it comes to agriculture there are a lot of places that could present a compelling rationale.
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  #1938  
Old Posted Aug 13, 2018, 10:56 PM
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I think at least one of these in the midwest makes sense. From a pure administrative aspect, somewhere like the Chicago area would make sense. However, I wouldn't be surprised to see smaller metros win out like Minneapolis, Kansas City, Indianapolis, St. Louis, or even somewhere like Des Moines or Omaha.

----
Also
----

Welcome, neighbors: 3 Canadian startups setting up shop in Chicago

https://www.builtinchicago.org/2018/...panies-chicago

Quote:
Brace yourselves. The Canadians are coming.

Three Canadian startups, all of which are headquartered in Toronto, have opened Chicago offices in the past month, following a trail blazed by fellow Torontonian tech companies. Ritual, a social food ordering app, launched in Chicago in the fall of 2015 and opened an office shortly thereafter. Health benefits administration platform League opened its American headquarters here last summer.

There are a variety of reasons why Canadian companies, and those from Toronto especially, come to Chicago. For starters, the two cities are similar from a demographic and geographic standpoint. From a business standpoint, Chicago is often used as a testbed by companies to see if their offerings will appeal to Americans at large. Then there’s the fact that the city’s tech ecosystem is healthier than ever and features a killer combination of invested investors and high-quality talent.
The 3 companies are ChefHero, Maropost, and Vacation Fund
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  #1939  
Old Posted Aug 15, 2018, 12:06 AM
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Arrive Logistics is expanding its Chicago team by the truckload

https://www.builtinchicago.org/2018/...chicago-office

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Headquartered in Austin, Arrive Logistics launched its Chicago office in 2016, less than two years after its founding, quickly growing its local team to 117 employees.

The logistics company, which provides digital solutions to freight shippers and receivers, closed a Series A in June of more than $10M and is gearing up to hit a Chicago headcount of 200 by the end of the year.

According to Vice President of Recruiting Kari Wainwright, the majority of the startup’s new Chicago hires will be in sales positions.
Their current office is at 30 S Wacker
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  #1940  
Old Posted Aug 15, 2018, 3:47 PM
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The 2018 INC 5000 is out, which measures the fastest growing private companies in America. There are 2 Chicago companies in the top 10 (Home Chef and GForce). There's also 2 companies from WI in the top 10 (The #1 overall company is in Madison), and another in Indiana.

In other words, 5 of the top 10 fastest growing companies in the country right now are in Illinois, Wisconsin, and Indiana.

Last edited by marothisu; Aug 15, 2018 at 5:29 PM.
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