Thursday, October 15, 2026
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Company NewsIllinoisMidwest

Eisenberg Foundation to Host Annual Dinner in Support of Gastrointestinal Cancer Research

by John Nelson

NORTHBROOK, ILL. — The Harold E. Eisenberg Foundation will host its marquee annual networking and fundraising dinner on Thursday, Nov. 5, at the Hilton Chicago located at 720 S. Michigan Ave. The goal for the foundation’s signature event — which benefits gastrointestinal cancer research programs at the Robert H. Lurie Comprehensive Cancer Center within Northwestern Medical Center — is to raise more than $750,000 through sponsorships (see list of sponsors below), ticket sales and other program opportunities. Now in its 27th year, the annual dinner is expected to attract more than 700 professionals from the commercial real estate and related industries, the business community, as well as cancer medicine and research practitioners from the Chicago area, including the Lurie Cancer Center. The overarching goal of the foundation is to make a difference in the lives of those diagnosed with any one of nine gastrointestinal cancers and to increase the rate and length of survivorship. “As we celebrate and honor survivors and caregivers, we recognize the critical importance of cancer research and the role that individuals and the private sector play in today’s world,” says Peter Eisenberg, president of the board of directors of the Harold E. Eisenberg Foundation headquartered in …

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AcquisitionsIllinoisMidwestMultifamily

Becovic Residential Acquires Chicago Apartment Building for $20M

by Kristin Harlow

CHICAGO — Becovic Residential has acquired an historic property at 5154 N. Clark St. in Chicago for $20 million and has rebranded it as The Quarters at Andersonville. Built in 1923, the asset consists of 81 apartments and 10 ground-floor commercial spaces. The property had been held by its previous ownership for more than 40 years. The acquisition marks Becovic’s entry into the Andersonville neighborhood. Becovic plans to preserve the building’s historic character while making improvements to the residential experience. Becovic Management Group Inc. will provide property management services. Essex Realty Group brokered the transaction. Elizaeth Hozian of Associated Bank originated acquisition financing.

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IllinoisIndustrialLoansMidwestMultifamily

Draper and Kramer Arranges Two Loans Totaling $27.5M for Chicago-Area Multifamily, Distribution Properties

by Kristin Harlow

CHICAGO AND BRIDGEVIEW, ILL. — Draper and Kramer Inc. has arranged two loans totaling $27.5 million. The transactions include a $13.5 million loan to finance the acquisition of a three-building industrial complex in Bridgeview, a southwest suburb of Chicago, and a $14 million bridge loan for a 56-unit multifamily property in Chicago’s Edgewater neighborhood. Dan Freedman and Chris Beck of Draper and Kramer’s Commercial Finance Group arranged the loans. The distribution center serves as the headquarters for Chicagoland Quad Cities Express. A joint venture between Curtis Ashton Partners and Burnham Industrial Partners was the borrower. A correspondent life insurance company provided the loan. The newly constructed multifamily property is located at 1101 W. Berwyn Ave. Draper and Kramer secured the bridge loan on behalf of the developer with a two-year initial term and an option to extend for an additional three years.

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AcquisitionsIllinoisMidwestMultifamilyRetail

Greenstone Partners Arranges $3.2M Sale of Apartment, Retail Building in Chicago

by Kristin Harlow

CHICAGO — Greenstone Partners has arranged the $3.2 million sale of a three-story, 4,650-square-foot property located at 1560 N. Damen Ave. in Chicago’s Wicker Park. The ground-floor retail space is occupied by Stan’s Donuts & Coffee, a regional bakery that has operated at the location since its founding in 2013. The upper floors include two large apartment units. Danny Spitz and Brewster Hague represented the seller and procured the private buyer.

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IllinoisLeasing ActivityMidwestOfficeTop Stories

Morningstar to Relocate Headquarters to Chicago’s Thompson Center, Inks 275,000 SF Lease

by Kristin Harlow

CHICAGO — Morningstar Inc. (NASDAQ: MORN), a provider of independent investment insights, has unveiled plans to relocate its global headquarters to the Thompson Center in Chicago’s Loop. Morningstar will co-anchor the building alongside owner Google and will occupy more than 275,000 square feet. The company plans to move to the property in late 2028. The lease marks Chicago’s largest downtown office transaction in 2026 to date, according to Morningstar, which has been headquartered in Chicago since its founding over 40 years ago. Morningstar currently employs over 1,500 people in Chicago. Located at 171 N. LaSalle St., the Thompson Center is one of the city’s highest-profile revitalization projects. Google announced plans to acquire the 1.2 million-square-foot property in 2022 and recently shared new design renderings for the renovation. The all-electric building will feature direct access to public transit, large floor plates, a 17-story atrium with food-and-beverage and retail offerings, as well as onsite employee amenities. Famed Chicago architect Helmut Jahn designed the Thompson Center, which opened in 1985 as the State of Illinois Center. The property was later renamed to honor Illinois Gov. James R. Thompson. Alongside its headquarters move, Morningstar plans to donate $5 million over the next five years …

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IllinoisIndustrialLoansMidwestWisconsin

Darwin Investment Group Receives $130M Refinancing for Industrial Portfolio in Chicago, Southeast Wisconsin

by Kristin Harlow

CHICAGO — Darwin Investment Group has received a $130 million refinancing for a 39-building industrial portfolio totaling more than 2 million square feet across the greater Chicago area and Southeast Wisconsin. A dedicated middle market real estate team within Wells Fargo Commercial Banking provided the financing. In conjunction with the refinancing, Darwin Investment Group principals George Cibula and Matthew Lewandowski acquired the 49 percent ownership interest held by their partners, bringing Cibula and Lewandowski’s ownership of the portfolio to 100 percent. The 39 properties are home to more than 225 tenants. Lewandowski, Erin Cibula and Patricia Liston facilitated the refinancing and ownership consolidation on behalf of Darwin. Paul Mokhatas, Anu Agarwal and Paul Crusen led the Wells Fargo team.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Brokers Sale of 142,370 SF Industrial Facility in Plainfield, Illinois

by Kristin Harlow

PLAINFIELD, ILL. — Entre Commercial Realty has brokered the sale of a 142,370-square-foot industrial facility in Plainfield. Situated on 20 acres, the freestanding property features 19 loading docks, two drive-in doors, approximately 11,000 square feet of office space, heavy power and eight private rail spurs. A local transportation company purchased the building with plans to utilize it as its new corporate headquarters. Mike DeSerto, Cory Kay and Elisabeth Lazzara of Entre represented the buyer, while Colliers represented the undisclosed seller.

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AcquisitionsIllinoisMidwestRetail

TEI Acquires Retail Property on Jeweler’s Row in Chicago for $3.9M

by Kristin Harlow

CHICAGO — Time Equities Inc. (TEI) has acquired 33 South Wabash Avenue in Chicago for $3.9 million. Located in the heart of South Loop along historic Jeweler’s Row, the property offers 38 feet of frontage on Wabash Avenue at the base of a 360-unit luxury condominium building, which is also home to the School of the Art Institute of Chicago. Currently fully leased, the 7,400-square-foot, three-unit retail property is home to Goddess & the Baker, Reckless Records and Prasino. Ami Ziff and Jonathan Kim represented TEI on an internal basis. Mitchell Kiven of Marcus & Millichap represented the seller, Newcastle Investors.

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AcquisitionsIllinoisIndustrialMidwest

Transwestern Investments Acquires 408,176 SF Industrial Facility in Chicago’s I-88 Corridor

by Kristin Harlow

NORTH AURORA, ILL. — Transwestern Investments has acquired a 408,176-square-foot industrial facility in Chicago’s I-88 Corridor on behalf of a separate account. Built in 2023 and located in North Aurora, the fully leased property features a cross-dock configuration, a clear height of 36 feet, 55 dock doors, four drive-in doors and dedicated car and trailer parking. Located 1.7 miles from I-88, the property provides connectivity to I-355, I-294 and the Chicago O’Hare International Airport. Transwestern Services has been retained to provide property management services.

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DevelopmentIllinoisMidwestRetail

Fortec Converts Former Ambulance Facility into $5M Early Education Center in Metro Chicago

by Kristin Harlow

VERNON HILLS, ILL. — Fortec has opened The Nest Schools-Vernon Hills. The $5 million project involved the acquisition and redevelopment of a former ambulance warehouse in Vernon Hills, a northern suburb of Chicago. The new early education center will serve up to 209 students and create 35 jobs in the Lake County community. Fortec acquired the property for $1.7 million in September 2025 and invested roughly $3 million in construction, along with $300,000 in closing and due diligence costs. The redevelopment involved a comprehensive interior reconfiguration designed specifically for childcare use. The school features 11 age-grouped classrooms, a new 11,834-square-foot outdoor playground featuring K-Play equipment and dedicated play surfaces for active learning and recreation. The project also included replacement of the building’s core systems, including new high-efficiency HVAC, electrical and irrigation systems, water-efficient plumbing and underground drainage upgrades. Safety enhancements involved a new fire alarm system and sprinkler system as well as upgraded access control security infrastructure. The project represents Fortec’s fourth collaboration with The Nest Schools, an early childhood education provider with more than 50 locations nationwide.

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