Tuesday, May 19, 2026
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DevelopmentIllinoisMidwestMultifamily

JLL Arranges $141.8M Refinancing for Wolf Point West Luxury Apartment Tower in Chicago

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged a $141.8 million loan for the refinancing of Wolf Point West, a luxury multifamily property in Chicago’s River North neighborhood. JLL represented the borrower, Hines, in partnership with AFL-CIO Building Investment Trust (advised by DWS Group), Magellan Development Group and the Jospeh P Kennedy Trust. New York Life Insurance Co. provided the three-year, floating-rate loan. Located at 343 W. Wolf Point Plaza, the property sits on the Wolf Point peninsula at the confluence of the three branches of the Chicago River. Delivered in 2016, Wolf Point West rises 48 stories with 509 units across 379,264 square feet. Designed by bKL Architecture, the LEED Silver-certified building features amenities such as an outdoor pool, fitness center, game room with golf simulator, business center and indoor-outdoor dog lounge. Danny Kaufman, Medina Spiodic, Rebecca Brielmaier and Youngsoo Yang led the JLL team. Hines developed the building and serves as property manager.

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DevelopmentIllinoisMidwestMultifamily

Bradford Allen Opens 301-Unit Arbor House Apartments in Arlington Heights, Illinois

by Kristin Harlow

ARLINGTON HEIGHTS, ILL. — Bradford Allen has opened Arbor House, a luxury apartment community rising eight stories with 301 units in Arlington Heights. Arbor House offers studio, one-, two- and three-bedroom units. Spanning 17,500 square feet, the amenity space features a fitness center, resident lounge with golf simulator, game tables and a kitchen. Additional amenities include coworking suites on the first and fourth floors, a concierge desk, covered parking and pet spaces such as an onsite dog run and washing station. Residents also have access to a private outdoor terrace with a pool, spa, fire pits, grills and seating. The property includes 26,000 square feet of ground-floor retail space. Abor House serves as the anchor of Bradford Allen’s 18-acre mixed-use district known as Arlington Gateway. The project reimagines the southeast entrance to Arlington Heights as a live-work-play community. The integrated master plan concept includes a full renovation of the former Daily Herald building, now branded as Arlington Med, placing Arbor House residents steps from a 150,000-square-foot wellness center.

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DevelopmentIllinoisMidwestRetail

Joseph Nicholas Construction Breaks Ground on Cadillac Dealership in Chicago

by Kristin Harlow

CHICAGO — Joseph Nicholas Construction, in partnership with Jack Carter Auto Group, has broken ground on Carter Cadillac of Chicago, a new dealership at 1400 W. North Ave., part of the former Lincoln Yards site. The new facility will be the brand’s third flagship store in the world, after locations in Manhattan and Los Angeles. The dealership is expected to open in late 2027. The development will include a two-story showroom and a six-level parking garage with 490 spaces for inventory and customer parking. Based in Calgary, Alberta, Jack Carter Auto Group is a large independent retail automotive dealership group that operates locations across Canada and the U.S.

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Affordable HousingDevelopmentMidwestMultifamilyOhio

The Community Builders Completes 64-Unit Affordable Housing Development in Cleveland

by Kristin Harlow

CLEVELAND — The Community Builders (TCB) has completed Woodhill Station East, the third phase of the Buckeye-Woodhill Choice Transformation in Cleveland. The building delivers 54 affordable apartments and 10 market-rate units for residents in the Buckeye-Woodhill neighborhood and is situated immediately to the east of Woodhill Station West. Woodhill Station East is the third phase in the redevelopment of the former Woodhill Homes. A commercial space will host up to three tenants. Residents have access to amenities including a community room, lounges, a fitness center, landscaped greenspace and an outdoor patio. All units are pre-wired for high-speed internet service, including low-cost access provided by Digital-C. TCB will oversee a wide range of resource and programming partners and activities, including a team of TCB Community Life case managers, which will provide onsite supportive service programming. They will connect residents to opportunities in six areas: workforce development, asset building, community engagement, youth development, education and health and wellness. Financial partners included Lument, Ohio Capital Corp. for Housing, Ohio Housing Finance Agency, Citizen’s Bank, HUD Choice Neighborhoods program, TCB, Cuyahoga Metropolitan Housing Authority (CMHA) and the City of Cleveland via ARPA HOME funds. In 2021, HUD awarded a $35 million Choice Neighborhoods Implementation …

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AcquisitionsBuild-to-RentIllinoisMidwestSingle-Family Rental

Cushman & Wakefield Brokers $26.4M Sale of Build-to-Rent Community in Matteson, Illinois

by Kristin Harlow

MATTESON, ILL. — Cushman & Wakefield has brokered the $26.4 million sale of The Manors at Brookmere, a 108-unit build-to-rent (BTR) community in Matteson, a southern suburb of Chicago. Homebuilder Lennar developed the property in 2016. The transaction represents one of the first sales of a stabilized BTR community in Chicagoland, according to Cushman & Wakefield. Brad Smith, Jack Maloney and Anna Lovell of Cushman & Wakefield represented the seller, Haven Realty Capital. Ashland Capital was the buyer. The Manors at Brookmere consists of a collection of contiguous quadplex buildings offering two-story residences with two- and three-bedroom layouts. Units include private entrances, attached one- and two-car garages, vaulted ceilings in living areas, stainless steel appliances and in-unit washers and dryers. Daniel Management Group will manage the property.  

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IllinoisIndustrialLeasing ActivityMidwest

AKIRA Signs 202,105 SF Industrial Lease Extension in Metro Chicago

by Kristin Harlow

BOLINGBROOK, ILL. — Chicago-based fashion retailer AKIRA has signed a long-term lease extension for 202,105 square feet of warehouse space at 150 E. Crossroads Parkway, Unit A, in Bolingbrook. Dan Leahy and Dan O’Neill of NAI Hiffman represented the tenant. Since its founding in 2002, AKIRA has grown from a single boutique into 40 stores across multiple states along with an e-commerce platform. In late 2024, NAI Hiffman was engaged to conduct a comprehensive market assessment of industrial warehouse opportunities throughout the Midwest ahead of AKIRA’s lease expiration. The evaluation process included market surveys, ownership outreach, financial modeling and operational logistics analysis. Prologis owns the property.

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AcquisitionsIndianaIndustrialMidwest

Colliers Negotiates Sale of 149,012 SF Industrial Portfolio in Indianapolis

by Kristin Harlow

INDIANAPOLIS — Colliers has negotiated the sale of Georgetown Commerce Park, a two-building light industrial portfolio totaling 149,012 square feet in Indianapolis. The properties are situated within the Park 100 industrial park and feature clear heights ranging from 16 to 20 feet, 25 dock doors, 23 drive-in doors and 337 parking spaces. At the time of sale, the portfolio was 95.6 percent occupied by 21 tenants. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Jason Speckman, Tyler Wilson and Sydney Gabriel of Colliers represented the undisclosed seller. The buyer was Blue Ridge Industrial LLC, a Dallas-based private equity firm.

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AcquisitionsMidwestOhioRetail

Cooper Group Arranges Sale of Multi-Tenant Retail Center in Washington Court House, Ohio

by Kristin Harlow

WASHINGTON COURT HOUSE, OHIO — The Cooper Commercial Investment Group has brokered the sale of Fayette Square, a multi-tenant retail center in Washington Court House, about 50 miles east of Dayton. The property is fully leased and shadow anchored by Walmart Supercenter. Dan Cooper of Cooper Group represented the seller, a Texas-based investment group. The asset sold to a Kentucky-based buyer at a cap rate of 8 percent.

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AcquisitionsMidwestMissouriOffice

Colliers Brokers Sale of 321,000 SF Office Building in Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Colliers has brokered the sale of 2323 Grand Boulevard in Kansas City’s Crown Center submarket. Evan Warwick of Colliers represented the seller, Stanton Road Capital LLC. Bryan Johnson of Colliers represented the buyer, Crain Co., a multifamily acquisition and development company based in Wichita. Amenities at the property include a full-service cafeteria with outdoor seating, dedicated management and maintenance teams, 24-hour security and a fitness center. Recent capital enhancements included a renovated lobby, common areas and elevator systems. The 11-story building was developed in 1985. Stanton Road Capital acquired the property in 2017.

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AcquisitionsIllinoisIndustrialMidwest

TruCore Industrial Acquires 71,552 SF Single-Tenant Property in Peoria, Illinois

by Kristin Harlow

PEORIA, ILL. — TruCore Industrial, an owner and operator of Class B industrial real estate, has acquired a 71,552-square-foot property in Peoria net leased to HD Supply, a wholly owned subsidiary of The Home Depot. The facility is located just off North Allen Road and State Route 6. HD Supply is a wholesale distributor of maintenance, repair and operations products in North America, serving multifamily, hospitality, healthcare, institutional, commercial, government and education facilities. HD Supply operates more than 100 distribution centers across the U.S. and Canada.

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