Midwest

Zilber to Develop 252,000 SF Spec Industrial Facility in Germantown, Wisconsin

by Kristin Harlow July 20, 2026

GERMANTOWN, WIS. — Zilber Property Group (ZPG) has unveiled plans to develop Zilber Industrial 7 within Germantown Gateway Corporate Park in Germantown, a northwest suburb of Milwaukee. The 252,000-square-foot speculative industrial facility will feature a clear height of 32 feet, 26 loading docks and two drive-in doors. Subject to final municipal approvals, construction is expected to begin this summer with delivery anticipated in winter 2026. Upon completion, ZPG will own and manage approximately 1.3 million square feet of industrial space in Germantown Gateway Corporate Park. The industrial park totals 140 acres and is positioned less than one mile east of the I-41 and Holy Hill Road interchange. Development began in 2018.

July 20, 2026

Healthcare Illinois Indiana Leasing Activity Midwest Office

Bradford Allen Negotiates Two Office Leases for Illinois Retina in Chicago Market

by Kristin Harlow July 20, 2026

SKOKIE, ILL. AND MUNSTER, IND. — Bradford Allen has negotiated two leases on behalf of Illinois Retina in the Chicago market. The medical services provider signed a 16,228-square-foot lease in Skokie, Ill., as well as an 8,728-square-foot lease in Munster, Ind., about 30 miles southeast of Chicago. Craig Nadborne of Bradford Allen negotiated the leases for Illinois Retina. Nadborne has completed more than a dozen renewals, relocations, expansions and renegotiations on behalf of the tenant over the past 20 years. The Skokie office is at Concourse Office Plaza. The long-term transaction marked a renewal and expansion from approximately 3,000 square feet. The property comprises two 12-story medical office buildings. Illinois Retina’s Munster office relocated from a smaller facility to 9200 Calumet Ave., a single-story medical office complex.

July 20, 2026

Acquisitions Illinois Industrial Lee & Associates Midwest

Lee & Associates Arranges $5.2M Sale of Industrial Building in Metro Chicago

by Kristin Harlow July 20, 2026

ELK GROVE VILLAGE, ILL. — Lee & Associates of Illinois has arranged the $5.2 million sale of a 39,879-square-foot industrial building located at 1951 Lively Blvd. in Elk Grove Village. Dustin Albers of Lee & Associates represented the buyer, Sonica International Inc., a global logistics company. John D’Orazio, Jonathan Kohn and Tommy Karnig of Colliers represented the seller, FD Venture Co. LLC.

July 20, 2026

Acquisitions Hospitality Midwest Minnesota

Marcus & Millichap Brokers Sale of 45-Room Country Inn & Suites Hotel in Detroit Lakes

by Kristin Harlow July 20, 2026

DETROIT LAKES, MINN. — Marcus & Millichap has brokered the sale of a 45-room Country Inn & Suites hotel in Detroit Lakes, a city in northwest Minnesota. Joseph Ferguson, Jon Ruzicka, Reed Gizinski and Brock Banken of Marcus & Millichap represented the seller, DL Hotel Group LLC, and procured the South Dakota-based buyer. Built in 1996, the recently renovated property is located just off Highway 10 and within walking distance of Detroit Lake. According to Ferguson, Detroit Lakes remains one of Minnesota’s strongest regional lodging destinations.

July 20, 2026

Development Midwest Multifamily Wisconsin

Nicholas & Associates to Build 263-Unit Luxury Apartment Community in Madison, Wisconsin

by Kristin Harlow July 17, 2026

MADISON, WIS. — Moyer Properties has selected Nicholas & Associates, the construction management and general contracting arm of the Nicholas Family of Cos., to build Aster Flats, a 263-unit luxury apartment community in Madison. The three-building property will be situated on 4.9 acres. Nicholas & Associates will break ground Aug. 18, with construction taking place in phases. Completion is slated for February 2028. Designed by HKM Architects + Planners Inc., Aster Flats will offer studio, one-, two- and three-bedroom units ranging in size from 588 to 1,395 square feet. Amenities will include a clubhouse with a community lounge, entertainment kitchen and fitness and yoga center, a luxury pet spa, indoor bike room and an outdoor heated pool with a grilling terrace and courtyard area. Each of the three buildings will have one or two levels of heated indoor parking.

July 17, 2026

Illinois Leasing Activity Midwest Office

Swanson, Martin & Bell Inks 56,760 SF Office Lease in Chicago

by Kristin Harlow July 17, 2026

CHICAGO — Swanson, Martin & Bell LLP has signed a long-term headquarters lease restructure and renewal at 330 N. Wabash Ave. in Chicago. The 52-story riverside office tower is the last building in the U.S. designed by renowned architect Ludwig Mies van der Rohe. The property features 35,000-square-foot floor plates, floor-to-ceiling windows, 12-foot ceilings and panoramic views of the city. Dan Arends, Dougal Jeppe, Corby Marx, Joe Stevens and John Arends of Colliers represented the tenant, which is known nationally for its extensive jury trial experience. In addition to its Chicago headquarters, the law firm maintains six offices throughout the Midwest. The firm has grown from 13 lawyers in 1992 to over 140 lawyers in 30 practice areas today.

July 17, 2026

Acquisitions Healthcare Michigan Midwest

Marcus & Millichap Brokers $5.8M Sale of Medical Office Property in Davison, Michigan

by Kristin Harlow July 17, 2026

DAVISON, MICH. — Marcus & Millichap has brokered the $5.8 million sale of a 50,017-square-foot medical office property in Davison, a suburb of Flint. The two-suite office building is situated on 3.3 acres at 1515 Cal Drive. Built in 2003, the property is fully occupied by McLaren Health Management Group and The Cottage of Davison. McLaren provides home health, palliative care, hospice, home infusion, long-term care pharmacy and comprehensive laboratory services. The Cottage of Davison is a full-service memory care community. Jacob Keith and David Weinberg of Marcus & Millichap represented the seller, the owner and build-to-suit developer. A local OBR procured the buyer, a Michigan-based investor.

July 17, 2026

Development Leasing Activity Midwest Office Ohio

Caddell Construction Opens New Office in Columbus, Ohio

by Kristin Harlow July 17, 2026

COLUMBUS, OHIO — Caddell Construction has opened a new corporate office in Columbus within Grandview Yard. Despite launching its first corporate office in the state, the company is not new to Ohio — its first job dates back to 1989. The move comes as Caddell continues to experience significant growth across Ohio and the Midwest, driven by increasing demand for mission-critical, advanced manufacturing, education and complex commercial projects. Vice President Justin Spafford will lead the Columbus office, which features gathering spaces at the front of the building. The expansion is supported by Caddell executive and longtime Columbus construction leader Bob Cunningham, who joined Caddell in early 2025. Alabama-based Caddell is a full-service general contractor with more than $24 billion in projects across 38 countries.

July 17, 2026

Development Illinois Loans Midwest Multifamily Top Stories

Partnership to Develop Chicago’s First Geothermal-Powered Multifamily Community

by Abby Cox July 17, 2026

CHICAGO — Tree Street Group, along with Magellan Development Group and Mark Goodman & Associates, will co-develop the first geothermal-powered, all-electric multifamily high-rise in Chicago. The 33-story building, 410 North Elizabeth, will be the first phase of a two-tower, mixed-use development in the city’s Fulton Market District. Bank OZK, the senior lender on the project, provided a $102 million construction loan for the development, according to various media sources. Beach Point Capital and Circle Property Partners were the junior lenders. “Closing on financing for 410 North Elizabeth is a significant milestone for our team, one that dares to achieve what no one else has attempted — Chicago’s first geothermal multifamily high-rise,” says Ted Weldon, principal of Tree Street Group. “Our ability to move forward on this project underscores the faith of the many parties involved that Chicago is a national leader in sustainable development and a premier market for institutional investment.” The geothermal system, along with other key design features, has the potential to reduce energy usage by an estimated 60 percent. As a result of lower energy use, the building is projected to reduce emissions by 30 percent and energy cost savings by more than 25 percent. According to the U.S. …

July 17, 2026

Development Midwest Minnesota Multifamily

Inland, Reuter Walton to Develop 342-Unit Citywalk Apartments in Rochester, Minnesota

by Kristin Harlow July 16, 2026

ROCHESTER, MINN. — Inland National Development Co. LLC, a member company of The Inland Real Estate Group of Cos. Inc., and Reuter Walton Development LLC will co-develop Citywalk Apartments, a 342-unit multifamily community in downtown Rochester directly across from Mayo Clinic’s campus. Construction is expected to begin this month, with completion anticipated in 2028. The project will include a mix of apartments and 90 short-term, fully furnished units designed to support the evolving needs of Rochester’s healthcare and business community. Plans call for more than 250 climate-controlled underground parking spaces complete with electric vehicle charging stations. Residents will have access to a clubroom, fitness center, indoor-outdoor rooftop sky terrace, pool, coworking and conference room, golf simulator and game lounge.

July 16, 2026

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