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    Black CannaBusiness CEO Intensive and Multi-State Cannabis Company Parallel Launch 2023 National Education Series in Pittsburgh

    Black CannaBusiness CEO Intensive and Multi-State Cannabis Company Parallel Launch 2023 National Education Series in Pittsburgh

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    Consent education unchanged in NSW schools, two years after reckoning

    Governor JB Pritzker Endorses Ronnie Mosley for 21st Ward Alderman

    Governor JB Pritzker Endorses Ronnie Mosley for 21st Ward Alderman

    Kansas’ annual education report is in – Newstalk KZRG

    Kansas’ annual education report is in – Newstalk KZRG

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    “Centre Cutting Its Share In Funding Education”: Bihar Minister

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    West Side Forum Will Feature 29th Ward, Police District Candidates

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      Bulls hold off Magic' 2nd half push, win 128-109 | NBC Sports Chicago

      Bulls hold off Magic' 2nd half push, win 128-109 | NBC Sports Chicago

      Lonzo Ball ‘nowhere near playing’ ― and the Chicago Bulls target the All-Star break for a discussion on shutting down his season

      Lonzo Ball ‘nowhere near playing’ ― and the Chicago Bulls target the All-Star break for a discussion on shutting down his season

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      Dave Wannstedt breaks down AFC, NFC championship teams | NBC Sports Chicago

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      Hockey Night in Canada: Live streams on desktop & app

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      Has Chiefs' QB Patrick Mahomes reached Michael Jordan status? | NBC Sports Chicago

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        Body cam video shows police beating of Tyre Nichols: latest updates

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        New Tinley Park District program latest area effort to boost residents’ civic involvement – Chicago Tribune

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        Longtime Catering Business Near Midway Airport in Chicago Catches Fire Overnight – NBC Chicago

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        Homer Glen equestrian center for children with special needs works to reopen after arena fire – Chicago Tribune

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          Black CannaBusiness CEO Intensive and Multi-State Cannabis Company Parallel Launch 2023 National Education Series in Pittsburgh

          Black CannaBusiness CEO Intensive and Multi-State Cannabis Company Parallel Launch 2023 National Education Series in Pittsburgh

          Consent education unchanged in NSW schools, two years after reckoning

          Consent education unchanged in NSW schools, two years after reckoning

          Governor JB Pritzker Endorses Ronnie Mosley for 21st Ward Alderman

          Governor JB Pritzker Endorses Ronnie Mosley for 21st Ward Alderman

          Kansas’ annual education report is in – Newstalk KZRG

          Kansas’ annual education report is in – Newstalk KZRG

          “Centre Cutting Its Share In Funding Education”: Bihar Minister

          “Centre Cutting Its Share In Funding Education”: Bihar Minister

          West Side Forum Will Feature 29th Ward, Police District Candidates

          West Side Forum Will Feature 29th Ward, Police District Candidates

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            Bulls hold off Magic' 2nd half push, win 128-109 | NBC Sports Chicago

            Bulls hold off Magic' 2nd half push, win 128-109 | NBC Sports Chicago

            Lonzo Ball ‘nowhere near playing’ ― and the Chicago Bulls target the All-Star break for a discussion on shutting down his season

            Lonzo Ball ‘nowhere near playing’ ― and the Chicago Bulls target the All-Star break for a discussion on shutting down his season

            Dave Wannstedt breaks down AFC, NFC championship teams | NBC Sports Chicago

            Dave Wannstedt breaks down AFC, NFC championship teams | NBC Sports Chicago

            Hockey Night in Canada: Live streams on desktop & app

            Hockey Night in Canada: Live streams on desktop & app

            Has Chiefs' QB Patrick Mahomes reached Michael Jordan status? | NBC Sports Chicago

            Has Chiefs' QB Patrick Mahomes reached Michael Jordan status? | NBC Sports Chicago

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            Laurence Holmes trades back twice in mock draft for Bears | NBC Sports Chicago

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              Body cam video shows police beating of Tyre Nichols: latest updates

              Body cam video shows police beating of Tyre Nichols: latest updates

              New Tinley Park District program latest area effort to boost residents’ civic involvement – Chicago Tribune

              New Tinley Park District program latest area effort to boost residents’ civic involvement – Chicago Tribune

              Longtime Catering Business Near Midway Airport in Chicago Catches Fire Overnight – NBC Chicago

              Longtime Catering Business Near Midway Airport in Chicago Catches Fire Overnight – NBC Chicago

              Homer Glen equestrian center for children with special needs works to reopen after arena fire – Chicago Tribune

              Homer Glen equestrian center for children with special needs works to reopen after arena fire – Chicago Tribune

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              $9.7M Arlington Heights Condo Building Slated For Deconversion

              Admin by Admin
              December 10, 2022
              in Town News
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              $9.7M Arlington Heights Condo Building Slated For Deconversion
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              1 North Chestnut Avenue and Interra's Patrick Kennelly (Interra, Redfin, Getty)

              1 North Chestnut Avenue and Interra’s Patrick Kennelly (Interra, Redfin, Getty)

              Arlington Heights is dropping extra owner-occupied condos to buyers who’ve turned them into leases.

              For the second time in a month, a apartment constructing went via a so-called deconversion sale for $9.7 million as a purchaser made a proposal bulk buy accepted by unit house owners holding not less than 75 p.c of the property’s full worth, the Daily Herald reported.

              Interra Realty’s Patrick Kennelly and Paul Waterloo brokered the deal for the 40-unit apartment constructing at 1 North Chestnut Avenue. They represented each the customer, who hasn’t but been recognized, and the property’s apartment affiliation within the negotiations.

              The deal comes out to about $242,500 per unit, which, in accordance with an announcement from the brokerage that cited CoStar information, makes it the second-priciest sale value per unit of an Arlington Heights constructing up to now 5 years.

              Interra additionally negotiated one other apartment deconversion sale within the village final month when the 34-unit constructing at 202-222 North Salem Avenue bought for $4.1 million, as a sluggish apartment market stretches into a brand new yr within the Chicago space whereas buildings structured as conventional residences maintain extra worth because of surging space rents than the collective worth of the identical items as condos.

              The Chestnut complicated has 21 one-bedroom residences and 19 two-bedroom items. The customer plans to renovate the property and replace the residences.

              Kennelly expects extra apartment deconversions to happen in suburbs comparable to Arlington Heights, which he stated has gained attract with buyers partially as a result of Chicago Bears plans to redevelop the shuttered Arlington Worldwide Racetrack into a brand new stadium and leisure district to the tune of $5 billion. The NFL group is underneath contract to the property for $197 million from Churchill Downs.

              The Chestnut constructing can also be positioned throughout the road from the proposed $150 million Arlington 425 campus with industrial and residential area.

              That mission’s developer, Bruce Adreani of Norwood Builders, slashed the variety of residences from 361 to 319 in addition to the quantity of business workplace area from 43,800 sq. ft to 7,900 final yr whereas struggling to get the constructing financed, in accordance with earlier experiences. Although Arlington 425 would nonetheless be the second-largest mission within the suburb in a long time, after the Bears mission ought to it go ahead.

              — Victoria Pruitt

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