Midwest

Skender Tops Out Construction of 32-Story Apartment Tower in Chicago’s Fulton Market

by Kristin Harlow March 17, 2026

CHICAGO — General contractor Skender and developer VISTA Property have topped out Pearl Fulton Market, a 32-story apartment tower in Chicago’s Fulton Market district. Located at 370 N. Morgan St. and designed by Antunovich Associates, the Class A luxury building will total 539,000 square feet with 494 units. Floor plans will range from studios to two bedrooms, with 99 affordable units. Amenities will include a 30th-floor deck, yoga terrace, fire pits, outdoor grill kitchens, a fitness center, coworking areas, private event rooms and a golf simulator. A four-story podium will house approximately 190 parking spaces, and the property will feature more than 4,500 square feet of ground-level retail space. Luxury Living is handling marketing and leasing, which is expected to begin in January 2027. First move-ins are anticipated in spring 2027.

March 17, 2026

Acquisitions Affordable Housing Michigan Midwest Multifamily

Standard Communities Acquires 124-Unit Affordable Housing Property in Metro Detroit

by Kristin Harlow March 17, 2026

ROSEVILLE, MICH. — Standard Communities has acquired The Meadows, a 124-unit multifamily property in Roseville, a suburb about 15 miles northeast of downtown Detroit. The transaction marks Standard’s second investment in Michigan. All of the units will be income-restricted and supported by project-based Section 8 Housing Assistance Payment (HAP) contracts. Of the 124 units, 111 are restricted to households earning at or below 60 percent of the area median income (AMI) and 13 are restricted to those earning up to 40 percent AMI. Affordability has been extended through a 20-year Section 8 renewal via a HAP assignment and assumption and mark-up-to-market structure. The property consists of 21 residential buildings along with a leasing and community building. Financing for the acquisition was completed in partnership with the Michigan State Housing Development Authority, which served as tax credit allocator and bond issuer. The City of Roseville provided a new Payment in Lieu of Taxes agreement, and the U.S. Department of Housing and Urban Development approved the contract renewal. Standard will complete a comprehensive tenant-in-place renovation totaling approximately $10.5 million. Units will be updated with quartz countertops, stainless steel appliances, luxury vinyl plank flooring, refreshed bathrooms and upgraded lighting. The community building will …

March 17, 2026

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers $13.7M Sale of Aldi-Anchored Shopping Center in McHenry, Illinois

by Kristin Harlow March 17, 2026

MCHENRY, ILL. — Marcus & Millichap has brokered the $13.7 million sale of McHenry Town Center, an eight-suite, grocery-anchored center in McHenry. Built in 2003, the 94,658-square-foot property is home to Aldi, Petco, Five Below, Bath & Body Works, Michaels and Famous Footwear. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a private family with offices overseas and in Chicago, and procured the 1031 exchange buyer.

March 17, 2026

Healthcare Leasing Activity Midwest Minnesota

Optimize Physical Therapy Signs 60,374 SF, Full-Building Lease Near Minneapolis

by Kristin Harlow March 17, 2026

SPRING LAKE PARK, MINN. — Optimize Physical Therapy and Elite Sports Performance has signed a 60,374-square-foot lease for the full building at 8406 Sunset Road in Spring Lake Park, a northern suburb of Minneapolis. Kate Gillette of Transwestern represented the tenant, which will relocate its operations to the facility as part of an expansion. The new location will enable Optimize to add sports such as basketball, volleyball and hockey while providing more space for training and physical therapy. The facility will also support expanding programs, including homeschool co-ops, summer camps and clinics, and provide space for team rentals and batting cage use by youth little league teams, travel ball and high school teams. Owner Buhl Investors acquired the property this year. RISE, a 501(c)(3) organization providing human services programs, previously owned and occupied the building. Optimize expects to open its new space this spring, with full operations starting in the summer.

March 17, 2026

Development Hospitality Midwest Ohio

PENN Entertainment to Open New 203-Room Hotel at Hollywood Casino Columbus on June 12

by Kristin Harlow March 16, 2026

COLUMBUS, OHIO — PENN Entertainment Inc. (NASDAQ: PENN) is set to open the new hotel tower at Hollywood Casino Columbus on Friday, June 12, pending customary regulatory approvals. The 203-room, 150,000-square-foot hotel will feature 183 standard rooms and 20 luxury suites, a full-service restaurant named The Hill Eatery & Lounge, conference rooms, a fitness center and outdoor seating terrace. Guests will be able to book rooms beginning April 15. The hotel will add roughly 100 new jobs to the west side of Columbus. Grand opening celebrations will take place on June 12, highlighted by an outdoor festival and concert. In addition to the hotel, Hollywood Casino Columbus will also introduce an expanded high limit table games room in the second half of 2026, pending customary regulatory approvals. Operated by PENN Entertainment, Hollywood Casino Columbus is located off I-270 West. The 160,000-square-footgaming facility features slot machines, table games, a retail sportsbook and the largest poker room in Ohio, according to PENN. Dining options include The Lounge at Final Cut Steak & Seafood, The Sportsbook, Mikey’s Late-Night Slice, Dirty Frank’s Hot Dog Palace, Zen Noodle and Wahlburgers. The property also offers more than 16,000 square feet of multi-purpose banquet and event space.

March 16, 2026

Acquisitions Indiana Midwest Retail

Cushman & Wakefield Negotiates Sale of 204,810 SF Stony Creek Marketplace Near Indianapolis

by Kristin Harlow March 16, 2026

NOBLESVILLE, IND. — Cushman & Wakefield has negotiated the sale of Stony Creek Marketplace, a 204,810-square-foot regional shopping center in Noblesville, a northern suburb of Indianapolis. Anchor tenants include Best Buy, TJ Maxx and HomeGoods. Other retailers include Barnes & Noble, Five Below, PetSmart, Ross Dress for Less and Shoe Carnival. Built in 2003, the asset was fully leased at the time of sale. Evan Halkias, David Matheis and Bill French of Cushman & Wakefield represented the seller, Rainier Cos. A private investor was the buyer.

March 16, 2026

Acquisitions Midwest Ohio Retail

Matthews Arranges Sale of 55,946 SF Retail Property Near Columbus

by Kristin Harlow March 16, 2026

REYNOLDSBURG, OHIO — Matthews has arranged the sale of Broad Street Plaza East, a 55,946-square-foot retail center in Reynoldsburg near Columbus. Pierce Mayson, Kyle Stonis, Ben Snyder, Zack Bates and Boris Shilkrot of Matthews represented the seller, Garner Group. Matt Wallace served as broker of record. Positioned in the heart of the East Broad Street retail corridor, the property was 92 percent leased at the time of sale. Ross Dress for Less is the anchor tenant. Garner Group brought the asset to market as part of a capital recycling strategy after strengthening the rent roll through recent leasing activity. The undisclosed buyer plans to lease up the 4,209-square-foot vacancy.

March 16, 2026

Acquisitions Illinois Midwest Retail

AXIS 360 Brokers $2.7M Sale of Retail Building Formerly Home to Joann in Illinois

by Kristin Harlow March 16, 2026

BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the $2.7 million sale of a retail building formerly occupied by Joann in Bloomington. The 21,828-square-foot property is located at 1719 E. Empire St. within Bloomington Commons. Meghan O’Neal-Rogozinski and Mike O’Neal of AXIS 360 represented the buyer, Matt Unkovich, who plans to redevelop the space with an Aqua Tots Swim School. In addition to the swim school, space remains available to lease within the building. Jacob Dell and Sean McCourt of CBRE marketed the property for sale.

March 16, 2026

Acquisitions Illinois Midwest

Esquire Agrees to Acquire Illinois-Based Signature Bank for $348.4M

by Kristin Harlow March 13, 2026

JERICHO, N.Y. AND ROSEMONT, ILL. — Esquire Financial Holdings Inc. (NASDAQ: ESQ), the parent company of Esquire Bank, and Signature Bancorporation Inc., the parent company of Rosemont-based Signature Bank, have entered into a definitive agreement pursuant to which Esquire will acquire Signature in an all-stock transaction valued at $348.4 million. The combined company will have approximately $4.8 billion in assets at closing. The deal provides Jericho-based Esquire with a Chicago-area commercial banking franchise. Signature brings longstanding history of commercial and commercial real estate relationship banking in the Chicago market. Esquire is active in the litigation vertical and is looking to expand its presence in the Chicago market. Each of the combined company’s and bank’s board of directors will consist of 11 directors, including nine from Esquire and two from Signature. Signature’s top three executives have entered into new employment agreements and will oversee commercial business development opportunities and operations in the Chicago market. The merger has been approved by the board of directors of each company. The transaction remains subject to regulatory approval, approval of Esquire and Signature shareholders and other customary closing conditions. The transaction is expected to close in the third quarter.

March 13, 2026

Acquisitions Hospitality Illinois Midwest Missouri

CBRE Arranges Sale of Six-Property Hilton Hotel Portfolio Across Three States

by Kristin Harlow March 13, 2026

EFFINGHAM, ILL., JOPLIN, MO. AND PADUCAH, KY. — CBRE has arranged the sale of a six-property, 589-room Hilton select-service and extended-stay hotel portfolio located across Illinois, Missouri and Kentucky. Chatham Lodging Trust acquired the portfolio. Nate Sahn and James Foxx of CBRE represented the seller, McHugh Hospitality Group. The properties include Home2 Suites Effingham, Hampton Inn & Suites Effingham, Home2 Suites Joplin, Homewood Suites Joplin, Hampton Inn & Suites Paducah and Homewood Suites Paducah. Several of the assets received recent renovations.

March 13, 2026

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