The southwest edge of the Loop, for decades a sleepy buffer between downtown office skyscrapers and South Loop residential high-rises, is ready for its multibillion-dollar awakening. Just south of Willis Tower, Murphy Development Group is seeking anchor tenants to kick off construction of 50-story office towers alongside the existing 65-story skyscraper at 311 S. Wacker Drive. Read the full Chicago Tribune article here.
Murphy Development Group and CIM Group have refinanced the Paragon, a 47-story high-rise at 1326 S. Michigan Ave., with a $150 million loan, allowing them to pull nearly $60 million out of the project. Read the full story here.
The Cambria Hotel in downtown Milwaukee opened its doors in late August with the aim of attracting the younger crowd and offering hotel amenities that are unique in the area. Chicago-based Murphy Development Group LLC developed the ground-up project, and Raleigh, North Carolina-based Concord Hospitality is managing it. See the full article here.
Less than a month after closing on a former meatpacking warehouse across the street from Google’s new offices in Fulton Market, Murphy Development Group is moving forward with its plans for an eight-story office building on the property. Read the full article here
The 500-unit tower is expected to open in 2019 at 1326 S. Michigan Ave., a spokeswoman for Chicago-based Murphy Development Group said. Construction formally started Thursday. To read the DNAinfo article, click here.
Murphy Development Group and CIM Group broke ground on a 500-unit apartment building on Michigan Avenue. To read the REJournals.com article, click here.
A venture led by Chicago developer John Murphy is buying two Wacker Drive parcels near Willis Tower where it plans to build twin 48-story office buildings. Murphy Development Group has a letter of intent to buy the parcels at 301 and 321 S. Wacker Drive from Oak Brook-based InSite Real Estate, Murphy said. Read the Crain's Chicago Business article here.
Cook County commissioners endorsed a $550 million-plus plan to rehabilitate the long-shuttered old Cook County Hospital and surrounding area on the city's Near West Side. The development team plans to invest between $550 million and $700 million in the project, which would transform the 102-year-old Beaux Arts building into a hotel, restaurant and shops. Read the Chicago Tribune article here.
