ELGIN, ILL. — Ames Watson, owner of global accessories retailer Claire’s Holdings LLC, has signed a 248,400-square-foot industrial lease at 1100 Tollgate Road in Elgin. Spence Mehl of RCS Real Estate Advisors and JLL’s Sam Brashler, Seth Geldzahler and Sharon Kariampuzha represented the tenant. High Street Logistics Properties LLC owns the building. Located approximately 40 miles northwest of downtown Chicago, the Elgin facility is designed for large-scale distribution operations and will support the broader efforts of Claire’s to modernize its logistics network, improve speed-to-store delivery and enhance omnichannel fulfillment capabilities, according to RCS.
GREEN BAY, WIS. — SF Capital has arranged a $31.2 million loan for the refinancing of a multifamily property in metro Green Bay. Aaron Stemple of SF Capital arranged the loan through a life insurance company on behalf of the undisclosed borrower. The loan features a 75 percent loan-to-value ratio and a 10-year, fixed-rate term.
CHICAGO — Greenstone Partners has arranged the $5.2 million sale of a portfolio of retail properties situated along North Milwaukee Avenue in Chicago’s Wicker Park neighborhood. The portfolio totals 9,470 square feet and includes one corner property at North Milwaukee Avenue and Honore, along with three spaces directly across the street. The assets are fully leased to tenants such as Crossroads Trading Co., 2nd STREET, Thursday Boot Co. and Saint Alfred. Danny Spitz and Brewster Hague of Greenstone represented the seller, a Chicago-based investment and development company, and procured the buyer, a New York-based investor.
Krusinski Construction Breaks Ground on 5,000 SF Wintrust Community Bank Branch in St. John, Indiana
ST. JOHN, IND. — Krusinski Construction Co. has broken ground on a new two-story, 5,000-square-foot banking center for Wintrust Community Bank in St. John within northwest Indiana. The bank branch will provide retail, business and mortgage banking services with a drive-thru. For more than 30 years, Wintrust has served communities across Illinois, Indiana, Michigan, Wisconsin and Florida. Completion is slated for August. The project team includes Grund & Riesterer as architect, DVG Team Inc. as civil engineer, The Structural Shop as structural engineer and W.T. Engineering Inc. as mechanical, electrical and plumbing engineer.
By Shubhra Jha, Standard Real Estate Investments Chicago was not on many investors’ bingo cards. However, consistently popping up in the top five apartment markets nationwide for rent growth and occupancy outperformance is changing that perception. Metro Chicago boasts relative affordability compared with its coastal counterparts, a range of job opportunities at all skill levels and the ongoing need for attainable housing. These factors create a multifamily investment landscape poised to deliver steady, long-term returns driven by resilient and stable demand. Economy, affordability Chicago is a diversified and consistent economic powerhouse, counted as the third largest major metro area in the United States and the largest non-coastal city. Its geographic location in America’s heartland combined with its historic strength in a wide array of sectors ranging from agriculture/food processing and finance/commodities trading to manufacturing, transportation/logistics and education play an important role in the metro’s resilience throughout economic cycles. Notably, there is no singular industry dominating the economy. Looking ahead, sizeable investments in quantum computing, life sciences and fintech will build on Chicago’s historic advantages in finance, trading and education. Despite its diversified and steadily expanding economic base, Chicago remains an affordable city for its residents. Median home prices in the …
CHICAGO — Aimco (NYSE: AIV) has completed the sale of a seven-property multifamily portfolio in metro Chicago totaling 1,495 units as part of its liquidation plan approved by stockholders in February. LaTerra Capital Management and Respark Residential purchased the portfolio for $455 million. The Aimco Chicago Portfolio consists of the following stabilized properties: Pete Evans and Richard Evans of Berkadia represented the seller in the transaction. 3650 Capital provided approximately $104 million in acquisition financing to the buyers. The transaction was also capitalized with roughly $308 million of Fannie Mae loan assumptions as well as equity capital from LaTerra and Respark. Approximately $20 million of the invested capital will fund improvements to the properties, including both common area and unit upgrades. “In the post-COVID era, the greater Chicago region has emerged as one of the strongest multifamily housing markets in the country,” says Michael Fleischer, deputy CIO at 3650. “While some regions are experiencing oversupply, the Midwest is seeing a sustained period of strong performance and stability driven by limited new supply, robust demand and relative affordability compared to coastal markets.”
DETROIT — Bedrock has launched pre-sales for The Residences at The Detroit EDITION, a collection of 96 high-rise condominiums located atop The Detroit EDITION hotel within the Hudson’s Detroit tower at 1208 Woodward Ave. Slated to open in 2027, the project marks the EDITION brand’s first residential offering in the Midwest. SHoP Architects designed the project, with interiors by Yabu Pushelberg. Floor plans range from one to four bedrooms, spanning 720 to over 4,500 square feet. Pricing for condos start from the $600,000s. Amenities will total 14,000 square feet and include a fitness and aquatic suite, pool, hot tub, sauna, steam rooms, a clubroom, children’s playroom, coworking space, dining and catering kitchen, indoor parking garage with valet, multi-sports simulator and sound studio. Residents will also have full access to the hotel’s amenities, including several culinary and beverage options, a pool, fitness center, in-residence dining, spa services and more than 16,000 square feet of event space. Hudson’s Detroit is a 1.5 million-square-foot mixed-use development on the site of the former J.L. Hudson Department store. Hudson’s also features Class A office space anchored by General Motors’ global headquarters; Pine Hall, a new cocktail bar from Danny Meyer’s Union Square Hospitality Group; The …
CHICAGO — Habitat has begun leasing for The Junction at OC Living in Chicago’s North Lawndale neighborhood. The project is the second of three residential phases within the $200 million Ogden Commons mixed-income community developed by Habitat in partnership with Sinai Chicago. The four-story building represents a $38 million investment and delivers 75 units, with 76 percent of the residences reserved as affordable housing, including 30 units that are designated Chicago Housing Authority (CHA) units. The remaining residences are market rate. Amenities include a lounge, fitness center, onsite laundry facilities, management and social services offices, a package and mail room, bike storage and accessory parking. The first residential building at Ogden Commons, The Boulevard at OC Living, was completed in 2024 and fully leased in 2025. A 45,000-square-foot, three-story commercial building was completed in 2021. The commercial component is home to Sinai Chicago’s One Lawndale Community Care and Surgery Center, a Wintrust Bank branch and La Catedral Café & Restaurant. The third residential phase, The Parkline at OC Living, will include townhome and multi-flat units with larger floor plans designed for families. Upon full build-out, Ogden Commons will encompass more than 350 mixed-income units. Funding for Ogden Commons comes from …
KENNETT, MO. — Marcus & Millichap has brokered the $7 million sale of Bootheel Plaza, a 23-suite retail strip center in Kennett, located in the southeast corner of Missouri and four miles east of Arkansas. Built in 1973, the property totals 126,193 square feet and sits directly in front of a Walmart Supercenter. Anchor tenants include Tractor Supply, Bealls and Dollar Tree. Austin Sweet, Chris Garavaglia and Alex Perez of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors.
KANSAS CITY, MO. — The Kansas City Symphony has unveiled plans to develop a new live music venue in the city’s South Plaza district. The indoor venue, designed for audiences of up to 4,600 guests and targeted to open in 2028, will host touring artists across genres and support a limited number of Symphony performances that benefit from amplified or enhanced production formats. The project will also be designed to support the live performance of films with orchestra, which regularly rank among the Symphony’s most in-demand offerings. Populous and McCownGordon are the project’s design and construction build teams, respectively. The development at 4901 Main St. will be walkable to the Country Club Plaza. While Helzberg Hall at the Kauffman Center will remain the definitive orchestral home of the Symphony, the new venue will expand its reach. Managed by Music and Event Management Inc. (MEMI), the property will host over 100 annual events. The Symphony will wholly own the new venue and will contract with MEMI to operate it. MEMI, a subsidiary of the Cincinnati Symphony Orchestra, has measured a growing demand from artists and audiences for 4,000 to 6,000-seat venues that hit a “sweet spot” between intimate experience and major …
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