Wednesday, September 16, 2026
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Midwest

LoansMidwestMissouriMultifamily

Gantry Secures $50.8M in CMBS Financing for Two Kansas City Apartment Communities

by Kristin Harlow

KANSAS CITY, MO. — Gantry has secured a total of $50.8 million in two permanent loans to refinance post-construction bridge debt for a pair of recently renovated apartment communities in Kansas City. The 222-unit Palisades Apartments is situated in the Eastside submarket, and the 133-unit Mayfair Apartments is located in the city’s Woodbridge neighborhood. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. The CMBS loans feature five-year terms and fixed interest rates.

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AcquisitionsDevelopmentIllinoisMidwestMultifamily

Greenstone Partners Brokers $4.4M Sale of Condo Development Site in Chicago’s West Loop

by Kristin Harlow

CHICAGO — Greenstone Partners has brokered the $4.4 million sale of 1276 W. Washington Blvd., a development site in Chicago’s West Loop neighborhood. Danny Spitz and Malek Abdulsamad of Greenstone represented the buyer and seller. The property consists of a 14,850-square-foot parcel of land owned by a longtime Greenstone client. The buyer plans to build a condominium development on the site.

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IllinoisLeasing ActivityMidwestOffice

Switchyards Inks Leases for Two New Coworking Spaces in Chicago

by Kristin Harlow

CHICAGO — Coworking concept Switchyards has inked two leases for additional locations in Chicago. JLL brokered both deals. Sarah Silva and Nicole Becker of JLL represented Switchyards and landlord Range Group in two simultaneous transactions — 2440 N. Lincoln Ave. in Lincoln Park and 1046 W. Kinzie St. in Fulton Market. Both clubs are scheduled to open Monday, Oct. 26.

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IndianaMidwest

Eisenberg Foundation Expands Mentorship Program into Indianapolis

by Kristin Harlow

INDIANAPOLIS — The Harold E. Eisenberg Foundation is expanding its real estate mentorship program to Indiana. Headquartered in the north suburbs of Chicago, the foundation’s mentorship program has worked with more than 2,200 college and university students and over 100 professionals. Students can now request mentorships from more than 50 industry leaders in the greater Indianapolis area at no cost to the student, college or university. Students will select their mentor, based on their interests and availability, to schedule a full-day job shadow experience. The mentors are experts in brokerage, capital/financial markets, development, investment and management. Luke Lonneman of JLL, Ralph Shiley of Scannell Properties and John Snell of Snell Real Estate Evaluation Co. serve as the leadership of the Eisenberg Foundation’s Indiana Mentorship Advisory Committee and will oversee the program. The expansion of the mentorship program into Indiana can be attributed in part to the success and growth of other programs hosted by the foundation. Last spring, university teams from Indiana University in Bloomington, University of Indiana in Indianapolis and University of Notre Dame participated the Eisenberg Foundation’s Annual Real Estate Challenge, a case competition. Additionally, as many as 30 students from Indiana college and universities typically participate in …

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AcquisitionsIllinoisLoansMidwestRetail

Draper and Kramer Arranges $99.6M Acquisition Loan for Shopping Center in Skokie, Illinois

by Kristin Harlow

SKOKIE, ILL. — Draper and Kramer Inc. has arranged a $99.6 million loan on behalf of Fairbourne Properties for the acquisition of Village Crossing, a 724,400-square-foot shopping center on the border between Skokie and Niles. Built in 1988, the grocery-anchored property includes Jewel-Osco, AMC and Dick’s Sporting Goods. Bill Barry and Bill Stewart of Draper and Kramer’s Commercial Finance Group arranged the loan. In addition to funding the acquisition, the loan will be used for tenant improvements and leasing commission costs for new leasing at the property.

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AcquisitionsIllinoisMidwestMultifamily

Northmarq Brokers Sales of Two Chicagoland Multifamily Properties Totaling $67.3M

by Kristin Harlow

LOMBARD AND NAPERVILLE, ILL. — Northmarq has arranged the sales of two Chicagoland multifamily properties for a combined $67.3 million. The assets include Westmore Apartments, a 230-unit property in Lombard, and Whispering Trails, a 120-unit property in Naperville. Westmore Apartments was built in 1968 and is 98 percent occupied. Ownership invested more than $3.7 million in capital improvements over the past decade. Whispering Trails was built in 1985. Ownership invested nearly $2.2 million in capital improvements. Parker Stewart, Dominic Martinez, Alex Malzone and Jake Lamb of Northmarq represented the seller, Axiom Properties Inc. B & A Property Group LLC purchased Westmore Apartments for $46 million, while FPA Multifamily bought Whispering Trails for $21.3 million.

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AcquisitionsIndustrialMidwestOhio

IPB Negotiates Sale of 80,500 SF Industrial Facility in West Liberty, Ohio

by Kristin Harlow

WEST LIBERTY, OHIO — Industrial Property Brokers (IPB) has negotiated the sale of an 80,500-square-foot industrial facility in West Liberty, about 50 miles northeast of Dayton. Vicente Torns Ohio Corp., an international manufacturer, purchased the property, which sits on 7.2 acres and is zoned for heavy manufacturing. Vicente Torns plans to invest $21 million in the facility and create 108 new jobs. The project will establish the company’s first U.S. manufacturing facility, where it will produce copper and aluminum wires used in electric transformers. With more than 100 years of manufacturing experience, Vicente Torns operates facilities in Spain, Slovakia, Italy, Morocco, India and France, serving customers across the energy, electric vehicle and railway industries. The West Liberty property features 78,000 square feet of warehouse space, 2,500 square feet of office space, three dock doors and three drive-in doors. Tim Echemann and Conrad Echemann of IPB brokered the deal.  

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IllinoisLeasing ActivityMidwestRestaurantRetail

Your Third Spot, Buttermilk Cafe to Open at Veridian in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — UrbanStreet Group has announced two retail leases for Veridian’s shopping, dining and entertainment district in Schaumburg. Entertainment concept Your Third Spot and Chicago-area breakfast and lunch restaurant Buttermilk Cafe will open storefronts in the project’s first phase. Veridian is the redevelopment of the former Motorola factory and office campus. Your Third Spot will open its first Chicago-area location at Veridian and its second location nationally, following one in Atlanta. The competitive socializing venue pairs dining and craft beverages with games and activities. Buttermilk Cafe is known for its stuffed breakfast biscuits, pancakes, burgers and all-day breakfast menu. The restaurant operates in Geneva, Naperville, Vernon Hills, Wilmette and Downers Grove. The Veridian location will total 4,000 square feet. Construction on Veridian’s first retail phase includes The Fresh Market, a 26,000-square-foot grocery anchor that is on track to open in early 2027. The 321 apartments above the retail space are slated to open next spring. The district’s parking deck and public road network are both complete. Mason Retail Group is leading retail leasing for Veridian. In 2015, Motorola announced it would relocate its headquarters to downtown Chicago. UrbanStreet Group bought the Schaumburg property in 2016 and spent the next …

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DevelopmentMidwestMissouriMixed-UseRetailTop Stories

Kansas City Royals Select Construction Team for $3B Baseball Stadium, Mixed-Use Village

by John Nelson

KANSAS CITY, MO. — The Kansas City Royals have selected a construction team for the development of the club’s new $3 billion mixed-use village in downtown Kansas City, which will be anchored by a new 34,000-seat, open-air ballpark. The 85-acre district will be located within the city’s Crown Center neighborhood on the corporate campus of Hallmark Cards, which is a partner with the Royals on the overall development. The Royals have selected a joint venture between Minnesota-based Mortenson and Kansas City-based McCownGordon to serve as the construction manager at risk on the nearly 1.3 million-square-foot stadium. JE Dunn, also headquartered in Kansas City, will serve as a construction partner on the surrounding mixed-use district. Upon completion, which is expected in advance of the Royals’ opening day game in 2030, the mixed-use village will be the largest sports-anchored downtown development in baseball and the largest economic development project in the history of Kansas City, according to the Royals. “We’re proud to bring these outstanding construction companies together to build a world-class ballpark that will be seamlessly integrated with a best-in-class mixed-use development,” says Brooks Sherman, president of real estate and development for the Royals. “We have always said this is about …

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DevelopmentIllinoisIndustrialMidwest

Seefried Underway on 520,000 SF Spec Industrial Park in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — Seefried Industrial Properties has completed demolition and is underway on a three-building, 520,000-square-foot industrial development in Des Plaines. The project is a redevelopment of approximately 35 acres at the Northeast corner of Algonquin and Mount Prospect roads in the O’Hare submarket. It will transform three functionally obsolete office buildings into a modern industrial park. The three buildings, totaling 106,000, 152,000 and 260,000 square feet, are being built on a speculative basis. Premier Design + Build Group is the general contractor, SPACECO is the civil engineer and Harris Architects is the architect. Jason Lev, Jimmy Kowalczyk and John Suerth of CBRE are marketing the property for lease. Completion is slated for the second quarter of 2027.

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