Alby Gallun
Crain's Chicago Business
Evanston, IL, United States
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Past articles by Alby:
Evanston apartments for sale amid rising rents—and interest rates
The owners of the Park Evanston and Centrum Evanston are courting buyers at an uncertain time for the multifamily investment market. → Read More
Major State Street retail property hits the market
The listing for the 171,000-square-foot retail space at the corner of State and Madison streets will test the enthusiasm of investors for a storied but struggling Chicago shopping district. → Read More
Lincoln Park luxury apartments fetch lofty price
At nearly $21 million, the North Side sale works out to nearly $641,000 a unit—by that measure, the most paid for a Lincoln Park apartment building in at least five years. → Read More
Mag Mile takes one step forward, two steps back
The Mag Mile's vacancy rate is pushing 29%. Recent moves will push it even higher. → Read More
Blackstone unit drops $150 million on properties in far north suburbs
Warehouses have become a favorite of investors over the past few years, and rising prices have provided many property owners the opportunity to cash out. → Read More
Developers plan 21-story apartment project off Mag Mile
The proposed building is one of many in the works downtown amid a strong apartment market. But it's in a neighborhood that hasn't attracted much multifamily development in recent years. → Read More
Another big apartment tower proposed in West Loop
The project would add 362 apartments to a West Loop construction pipeline already swelling with more than 9,000 units. → Read More
City panel to consider $20 million subsidy for Congress Theater project in Logan Square
If approved, the tax-increment financing would reboot a major redevelopment of the property, which landed in foreclosure in 2020. → Read More
A former mole gets back in business
John Thomas, who wore a wire in the Rezko probe and served prison time, returns to real estate. → Read More
What's this Mag Mile mall worth? A lot less than it was.
A California mall owner has sold its 50% stake in the Shops at North Bridge to its partner in a deal that offers a reminder of just how far the Magnificent Mile has fallen. → Read More
This would be Fulton Market's biggest project yet
A massive, $600 million development calls for office and lab space, apartments, a hotel and a big fitness center in the red-hot Fulton Market District. → Read More
Ignoring reality: inside the property tax appeals game
How the owners of pricey Chicago office buildings shrink their assessments. → Read More
More rent hikes coming to downtown apartment market
With more demand than supply, "landlords are clearly in the driver’s seat,” says a consultant. → Read More
Old Post Office owner buys Des Plaines apartments
601W's acquisition of Buckingham Place is not only its first deal in the Chicago suburbs, but also its first apartment purchase here. → Read More
Three new retailers are coming to State Street. Really.
They don’t fill a lot of space—just 13,000 square feet—but the leases offer a glimmer of hope at a very dark time for the State Street shopping district. → Read More
Evanston apartments fetch $71 million
The sale of 1717, a 175-unit property just west of Evanston's downtown, is the biggest multifamily deal in the northern suburbs in nearly two years. → Read More
Pritzker seeks another $200 million in federal rental assistance
Illinois is requesting the additional funding as the federal government starts redirecting rental aid money from states that haven't used it, like Montana and North Dakota. → Read More
Will this study silence Kaegi's critics? Don't count on it.
Big landlords grouse that the Cook County assessor is overvaluing their properties. A new analysis shows that he's a big improvement over his predecessor. → Read More
Developer set to break ground on 27-story Fulton Market apartment tower
The 375-unit project is one of several apartment developments sprouting in the trendy West Loop neighborhood, which has shrugged off a pandemic and regained its momentum. → Read More
New Yorkers sell Oak Street property to Germans
The sale of a building leased to tenants including luxury retailers Chanel and Van Cleef & Arpels fetched the highest price for a Chicago retail property since 2016—and the highest per-square-foot price ever for Oak Street. → Read More