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Draper & Kramer buys Royal George Theatre property in Lincoln Park


Long an important venue on the Chicago theater scene, the Royal George closed in the early days of the coronavirus pandemic and never re-opened. The property, owned by New York-based Liberty Theatres, went on the market several months ago. D&K bought it in June, according to Real Capital.
Founded in 1893, D&K is one of the oldest real estate firms in Chicago and a major apartment landlord and developer today. The firm’s properties include Lake Meadows on the South Side, Burnham Pointe and Aspire Residences in the South Loop and Wrigleyville Lofts, a project near Wrigley Field expected to open this fall. D&K is also part of the venture developing a $4 billion mixed-use project on Michael Reese Hospital site near McCormick Place. ....

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$3.8 Billion Redevelopment Approved For Former Michael Reese Site


UpdatedFri, Jul 23, 2021 at 9:49 am CT
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The first phase of the redevelopment plan includes the 500,00-square-foot ARC Innovation Center anchored by Israel-based Sheba Medical Center. (SOM)
CHICAGO The City Council approved the sale of the former site of Michael Reese Hospital to a developer as part of a $3.8 billion revitalization project called Bronzeville Lakefront.
The 48.6-acre property was purchased by the city in 2009 for $91 million amid its unsuccessful bid for the 2016 Olympic Games. Since then, it has been floated as a potential site for a Chicago casino or Amazon headquarters.
Under the deal given the greenlight Wednesday, the city will sell the land to a developer in multiple phases over the next 14 years for a total of nearly $97 million. ....

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