Ryan Ori
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Senior staff writer at @CoStarNews. Previously covered real estate @chicagotribune and @CrainsChicago.
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Articles by Ryan Ori
Former Chicago retail property sells for more after medical conversion
Webster Place commands $68 million as Novak amasses land nearby The Webster Place shopping center in Chicago has sold for almost $68 million. (Novak Construction) November 6, 2026 | 9:51 P.M. A Chicago real estate investor that has been buying up land in and around the former Lincoln Yards megadevelopment site on the city’s North Side is already cashing in on a nearby property, selling a fully leased shopping center for almost $68 million.
Bob Burk’s ‘defining project’ in suburban Chicago comes into view
Developer marks decade spent remaking Motorola’s former campus Veridian is a 225-acre redevelopment of Motorola’s former corporate campus in Schaumburg, Illinois. (CoStar) November 6, 2026 | 1:18 P.M. Ten years after Bob Burk’s UrbanStreet Group bought 225 acres of Motorola’s longtime corporate campus in Schaumburg, Illinois, he is still working to see through the massive redevelopment that could define his career. This news story is available exclusively to CoStar subscribers.
Cushman & Wakefield’s Chicago headquarters sells for $115 million
Prime Finance, Hines venture buys tower at steep discount to 2020 price The Chicago office tower at 225 W. Wacker Drive has sold for just over $115 million. (Brett Bulthuis/CoStar) November 4, 2026 | 4:45 P.M. Cushman & Wakefield has a new landlord for its global headquarters. This news story is available exclusively to CoStar subscribers. Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
Office debt challenges spread to healthier buildings
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
Another huge warehouse is in the works near Chicago
Logistics Property unveils project as market pipeline ramps up after slowdown Logistics Property Company plans a nearly 1.3 million-square-foot warehouse at 23960 S. Houbolt Road in Joliet, Illinois. (Logistics Property Company) November 3, 2026 | 8:35 P.M. A Chicago developer is planning a nearly 1.3 million-square-foot warehouse southwest of the city, adding another big project to an expanding pipeline. This news story is available exclusively to CoStar subscribers.
Come up to the rooftop with Chicago office broker Matt Pistorio
Chicago office leasing broker Matt Pistorio is taking an unconventional approach to selling some of the city’s older office buildings: high-energy social media videos shot from places most people will never see. Pistorio and his Madison Rose colleagues have filmed on the sloped, diamond-shaped rooftop of the tower at 150 N. Michigan Ave. and alongside the 30-foot-tall statue of Ceres, the Roman goddess of agriculture, atop the Chicago Board of Trade Building.
Vista Property Group lines up $34 million Chicago office deal
Fulton Market building is set to sell for less than value of its outstanding loan Vista Property Group has a deal to buy the Chicago office building at 318 N. Carpenter St. (Brett Bulthuis/CoStar) November 2, 2026 | 10:00 P.M. A New York investor has a deal to buy an eight-story building in Fulton Market, the Chicago neighborhood where it already is an active investor, in the latest example of a major valuation cut in the U.S. office market.
In Chicago, there’s no place like Oz for a redevelopment
Long-held Lincoln Park property along Oz Park offers residential or mixed-use potential The St. Vincent de Paul Center at 2145 N. Halsted St. in Chicago is for sale.
Prologis bets big on former casino site near Chicago
Industrial giant’s partner ventures beyond gaming for first time with Joliet logistics project Gaming and Leisure Properties has owned the original Hollywood Casino site in Joliet, Illinois, since 2013. (Gaming and Leisure Properties) October 28, 2026 | 9:14 P.M. Pushing in its chips despite economic challenges, the world’s largest industrial developer is planning a huge new project near Chicago with an unexpected twist. The site most recently was home to Hollywood Casino.
Canadian firm enters Chicago office market with discounted deal
Amcor Holdings buys 10-story building in Evanston, Illinois Canada's Amcor Holdings has bought the office building at 500 Davis St. in Evanston, Illinois. (Joe Kirsch/CoStar) October 26, 2026 | 8:53 P.M. A Canadian real estate firm has entered the Chicago market with a heavily discounted deal for a 10-story office building just north of the city. This news story is available exclusively to CoStar subscribers.
California firm extends apartment buying spree with Chicago deal
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
Chicago property owner hopes Siskel and Ebert sculpture gets rave reviews
When film producer Pam Kasper set out to honor longtime film critics Gene Siskel and Roger Ebert with a life-size bronze sculpture, her search spanned public and private spaces throughout downtown Chicago. The hunt ended at one of the city’s biggest commercial properties, the two-tower Prudential Plaza office complex, where the 6-foot, 5-inch-tall sculpture is scheduled to be unveiled in early 2028.
Nearly vacant Chicago office tower seeks new life after lender exits
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
Investor cashes in after leasing turnaround at Chicago-area shopping center
Exclusive Core Acquisitions sells nearly full Rice Lake Square for $52.8 million Phillips Edison & Co. bought the Rice Lake Square shopping center in Wheaton, Illinois. (Patrick Kelley/CoStar) October 19, 2026 | 8:10 P.M. Just over two years after striking a discounted deal for a shopping center west of Chicago and vowing to quickly fill vacancies, a local investor has sold the almost fully leased property at a big return. This news story is available exclusively to CoStar subscribers.
In rare pivot, Canadian developer moves back to offices for proposed 30-story Chicago tower
Onni Group previously had changed plans for Fulton Market site to apartments Onni Group plans an office tower on the site at 357 N. Green St. in Chicago. (Robert Gigliotti/CoStar) October 19, 2026 | 7:11 P.M. A Canadian developer is planning a 30-story office tower in Chicago on the same Fulton Market site where it previously proposed apartments, a shift that stands out locally and nationally after years of developers moving away from new office construction.
Israeli firm takes over properties controlled by Mike Kohan
Deal values operating company at $6.4 million that oversees $684.1 million portfolio Kohan Properties’ holdings include the 65-story office tower at 311 S. Wacker Drive in Chicago. (Robert Gigliotti/CoStar) By Ryan Ori, Mark Heschmeyer CoStar News October 15, 2026 | 11:15 P.M. Israel’s Amos Luzon Development and Energy Group has paid $6.4 million for Kohan Properties, a real estate company overseeing a U.S. portfolio that was valued at $684.1 million this summer.
Michelin buys huge distribution facility near Chicago
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
JLL names Mark Gibson to newly created US CEO role
Longtime executive to oversee push to deepen client relationships across business lines JLL named longtime executive Mark Gibson to the newly created role of country CEO for the United States. (JLL) October 14, 2026 | 3:50 P.M. JLL has promoted longtime executive Mark Gibson to the newly created role of country CEO for the United States as part of the commercial real estate brokerage’s move to better integrate its business lines for major clients.
Chicago wins World Cup by staying on the sidelines
Chicago has been one the hottest U.S. hotel markets this year, especially on the heels of a strong summer. As of September, only San Francisco has outpaced Chicago in year-over-year, revenue-per-available-room change among the top 25 markets. RevPAR and occupancy have grown year over year in each month of the year, and the same has been true for average daily rate with the exception of March.
Google’s Chicago representative, five other CBRE brokers jump to JLL
Team includes Kyle Kamin, Dan Lyne, Jon Milonas, Abigail McFadyen, Joe Davis, Brandon Green Brokers Joe Davis, Dan Lyne, Brandon Green, Kyle Kamin, Jon Milonas and Abigail McFadyen have joined JLL's Chicago office. (JLL) October 12, 2026 | 10:00 P.M. JLL has hired a team of six Chicago brokers from rival CBRE, including one who has represented Google in market-defining office deals in the city and another with deep ties to the local technology and life science sectors.
Parade of multifamily sales near Chicago marches on with latest deal
Draper and Kramer buys 268-unit Albion Evanston tower just north of city for over $126 million The Albion Evanston apartment tower just north of Chicago has sold for more than $126 million. (Jonathan Fairfield/CoStar) October 12, 2026 | 6:17 P.M. A 268-unit apartment building just north of Chicago has sold for more than $126 million as a wave of big multifamily deals in the area shows no signs of relenting. This news story is available exclusively to CoStar subscribers.
R2 moves to buy back Chicago loft offices at less than half their 2016 sale price
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
KPMG in talks for one of Chicago's largest office leases in recent years
Accounting giant's move would bring tower at 300 N. LaSalle St. close to full occupancy KPMG is in talks to move its Chicago office to the 60-story tower at 300 N. LaSalle St. (Justin Schmidt/CoStar) October 8, 2026 | 6:34 P.M. Accounting giant KPMG is in talks to move into a 60-story skyscraper along the Chicago River in what would be one of the city’s largest office leases in recent years — and one of the last steps in a major re-leasing effort at the prominent tower.
Chicago office portfolio no longer controlled by New York investor
Long Island’s Mike Kohan bought discounted towers at 311 S. Wacker, 131 S. Dearborn, 33 W. Monroe before recent troubles Mike Kohan’s Chicago property purchases include the office tower at 311 S. Wacker Drive. (Gian Lorenzo Ferretti/CoStar) October 6, 2026 | 9:47 P.M. A longtime investor in shopping malls turned heads when he swooped into Chicago for three highly discounted purchases of prominent office towers over the past year.
Sprawling office-to-industrial project near Chicago lands another tenant
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
Canadian hotel investor enters Chicago with discounted deal in River North
Manga Hotel Group buys 261-room former Royal Sonesta A former Royal Sonesta hotel in Chicago, in the lower floors of this River North tower, has sold for $21 million. (Brett Bulthuis/CoStar) October 6, 2026 | 8:41 P.M. A Canadian hotel investor has entered Chicago with a $21 million purchase of a 261-unit hotel in River North, making a bargain-priced bet on a continued recovery of the city’s hospitality market.
Amazon buys Chicago warehouse in one of city’s priciest industrial deals ever
Midwest’s first modern vertical logistics facility will support rapid fulfillment across city Amazon has bought Chicago’s first modern vertical warehouse. (Robert Gigliotti/CoStar) October 5, 2026 | 7:45 P.M. Amazon has paid $195 million for the Midwest’s first modern-age vertical warehouse, a five-level property at the edge of Chicago’s Goose Island, in one of the city’s highest-priced deals for a single industrial property ever.
Chicago emerges as multifamily comeback showcase
Years of underbuilding are attracting investors back to ground-up projects There are signs of an uptick in Chicago apartment development after years of little new supply. (Robert Gigliotti/CoStar) October 5, 2026 | 8:34 P.M. Apartment investors, grappling with a growing divide between oversupplied Sun Belt markets and supply-constrained coastal and Midwest cities, are watching Chicago for clues about where multifamily development capital will flow next.
E1 Capital’s Victor Baev hunts for value in mortgage market blind spots
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
Neighborhood work clubs gain ground as hybrid offices evolve
In a few Chicago neighborhoods, an experiment in the flexible workspace industry is playing out. One provider, Switchyards, is seeking out relatively small spaces in residential areas outside the main business center. The Atlanta-based company is expanding an office model that looks more like coworking's early days than its current form.
Nuveen buys apartments near Chicago
Elmhurst 255 purchase adds to record pace of multifamily sales volume in 2026 Nuveen has paid just over $91 million for the Elmhurst 255 apartment building west of Chicago. (Benjamin Lurie/CoStar) September 30, 2026 | 10:20 P.M. Nuveen has paid just over $91 million for a 192-unit apartment building in Chicago’s western suburbs, continuing a record pace of multifamily dealmaking in the area.
Morningstar joins Google in Chicago’s Thompson Center redevelopment
Investment research firm plans headquarters move in late 2028 Morningstar is moving its headquarters to the Thompson Center, which Google is redeveloping. The finished project is seen in a rendering. (Google) September 30, 2026 | 6:09 P.M. Morningstar has finalized a lease to become Google’s tenant in the Thompson Center, the office building in the center of Chicago’s Loop business district that the tech giant is in the process of redeveloping.
Shopping center sale near Chicago comes amid wave of major retail deals in area
Randhurst Village fetches $95 million after major leasing and redevelopment efforts Randhurst Village, a shopping center in Mount Prospect, Illinois, has sold for $95 million. (Jon Song/CoStar) September 28, 2026 | 5:46 P.M. A Nevada investor has paid $95 million for a shopping center near Chicago as part of a burst of major retail property sales in the suburbs. Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
Amgen’s sale-leaseback with Mesirow is one of largest suburban Chicago office deals in recent years
Drugmaker sells Deerfield, Illinois, campus for $151 million Amgen plans to remain as a tenant after selling its offices in Deerfield, Illinois, for $151 million. (Zach Lipp/CoStar) September 28, 2026 | 7:33 P.M. Biopharmaceutical company Amgen has sold an office complex that it partially occupies north of Chicago for $151 million, marking one of the highest sale prices in the suburbs in recent years.
Chicago-area mall’s value jumps in new debt deal
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
At $125 million, shopping center sale sets Chicago-area decade high
Brand Street Properties, AEW Capital Management buy Deer Park Town Center Deer Park Town Center, a shopping center near Chicago, has sold for $125 million. (Brand Street Properties) September 24, 2026 | 10:27 P.M. A shopping center near Chicago has sold for $125 million, the highest price in the area in a decade, adding to a recent run of major retail property sales. Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
Distressed Chicago office debt hits market
Two-tower complex near Millennium Park could get new owner, and new uses Debt on Michigan Plaza, a two-tower office property in Chicago, is for sale. (Robert Gigliotti/CoStar) September 23, 2026 | 9:19 P.M. Unpaid debt on a big office complex near Chicago’s Millennium Park is for sale in a deal that could lead to a new owner — and new uses — for the two-tower property. Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success.
How Chicago apartment tower spotlights small world of real estate
Ceremony uncovers unexpected connection between CEO, development team Fengate Asset Management President and CEO Lou Serafini and his daughter, Kira, recently attended a groundbreaking ceremony for the Julep West Loop apartment tower in Chicago. (Ryan Ori/CoStar) September 21, 2026 | 11:16 P.M. Real estate executives like to talk about relationships.
What’s a multifamily conversion worth? This Chicago deal may help provide an answer.
Sale comes as developers nationwide remake outdated office buildings Paper Box Lofts, a vintage office building converted to 35 apartments, has sold for $19.2 million. (Robert Gigliotti/CoStar) September 21, 2026 | 12:23 AM An investor did more than just pay about $19 million this month for a Chicago building that was switched from loft offices to apartments. The buyer provided an early sale price for a completed office-to-apartment conversion as these projects gain traction nationwide.
Aux États-Unis, l'IA devrait permettre de réduire les coûts de construction jusqu'à 20 %
Actualités Logement 17 septembre 2026 | 14:36 CET La technologie devrait permettre d'augmenter les bénéfices et de réduire les délais de construction Nextera Robotics a fourni des photos et des vidéos prises par des robots afin de suivre l'avancement des travaux et de collecter des données relatives à la sécurité, ce qui a permis à l'équipe de chantier de Skanska de gagner jusqu'à 40 heures par semaine sur son projet d'appartements Kaye, dans le quartier de Belltown à Seattle.
AI estimated to be able to cut construction costs up to 20%
Technology seen boosting profits, shortening building timelines Nextera Robotics provided photos and videos collected by robots to track progress and collect safety data, saving Skanska’s construction team up to 40 hours per week at its Kaye apartment project in Seattle’s Belltown neighborhood.
Google offers new look at gathering spaces, public art in Chicago's Thompson Center revamp
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
Developer plans Chicago conversion down street from ground-up apartment project
Noah Properties buys three-story building at 225 W. Superior St. in River North A developer plans to convert the Chicago office building at 225 W. Superior St. into apartments. (Robert Gigliotti/CoStar) September 16, 2026 | 6:15 P.M. As it builds a 56-unit apartment building in Chicago’s River North, a local developer bought a vacant office property less than a block away that it plans to convert to more apartments amid a wave of similar projects in the neighborhood, the city and the country.
Amazon warehouse near Chicago sells for more than $86 million
Stockbridge Capital buys Romeoville, Illinois, property as dealmaking picks up Amazon is the lone tenant in the warehouse at 1125 Remington Blvd. in Romeoville, Illinois. (Cushman & Wakefield) September 14, 2026 | 6:38 P.M. A California investor has paid $86.5 million for a big warehouse near Chicago that is leased to Amazon, a sale that comes amid an uptick in industrial property dealmaking in the area.
Pair of Chicago medical district towers seek buyers as multifamily sales surge
Owners Marquette, Kayne Anderson look to capitalize on strong regional demand for apartments The Lydian and Atrio apartment towers in Chicago's Illinois Medical District are for sale. (Robert Gigliotti/CoStar) 11 September 2026 | 16:57 Two apartment towers totaling 551 units are for sale in Chicago’s Illinois Medical District, the latest apartment properties to hit the market as Chicago-area multifamily sales approach record levels.
Prologis plans major warehouse near Chicago
Minooka Exchange is part of REIT’s multibillion-dollar development pipeline Minooka Exchange is an industrial development planned by Prologis in Minooka, Illinois. (Prologis) September 10, 2026 | 3:23 P.M. The world’s biggest owner of industrial real estate is set to build a massive logistics facility along Interstate 80 southwest of Chicago as the area’s industrial development activity begins to rebound.
New White Sox ballpark proposal in Chicago raises as many questions as answers
Future owner Justin Ishbia reveals plans for The Railyards mixed-use development A rendering shows The Railyards, a development including a new Chicago White Sox ballpark. A new Chicago Fire football stadium, already under construction, is seen across the Chicago River.
Investor appetite for Chicago apartments shows no signs of slowing
RPM Living acquires Fulton Market tower from Greystar as property sales surge RPM Living paid $99 million to buy the 223-unit apartment tower at 166 N. Aberdeen St. in Chicago's Fulton Market. (Justin Schmidt/CoStar) September 8, 2026 | 10:27 P.M. RPM Living has paid $99 million for a 223-unit apartment tower in Chicago’s former meatpacking district, extending a binge of property purchases in a market that is on a record pace for sales volume in 2026.
Chicago apartment tower lands $93.5 million refinancing
Watch the video to learn how you can access industry leading CRE news and the data analytics you need to drive success. This news story is available exclusively to CoStar subscribers.
Thor reclaims Palmer House retail in bargain-priced Chicago deal
Purchase highlights sharp value declines as hotel foreclosure suit drags on Thor Equities is once again the owner of retail at the base of the Palmer House Hilton hotel in Chicago. (CoStar) September 4, 2026 | 11:58 P.M. The owner of Chicago’s second-largest hotel has bought back the retail portion of the Palmer House Hilton hotel at a fraction of its previous value as a long-running foreclosure case over the sprawling hotel remains ongoing.
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