DES PLAINES, ILL. — Greystone has provided a $115 million Freddie Mac loan to refinance Courtlands on the Park, a 918-unit multifamily community in Des Plaines. Eric Rosenstock of Greystone originated the loan on behalf of the borrower, CLK Properties. Built in 1973, Courtlands on the Park is a garden-style community with 153 buildings. The units have been recently renovated with modern appliances and finishes. Amenities include a playground, dog park, grilling stations and onsite parking. The nonrecourse, fixed-rate loan features a five-year term and 30-year amortization along with three years of interest-only payments. The loan refinances the bridge financing used to acquire the property in 2019 and enables the borrower to use a portion of the equity in the property.
CHICAGO — JLL Capital Markets has arranged $38.1 million in senior construction financing and $6 million in preferred equity for 310 West Huron, a 149-unit luxury apartment complex in Chicago’s River North. Christopher Knight, Mary Dooley and Ryan Planek of JLL secured the three-year construction facility through CIBC and preferred equity investment from N3 Capital Management on behalf of the borrower, a joint venture between Third Coast Real Estate and ZSD. The nine-story, 134,000-square-foot building will feature studios, one- and two-bedroom units, including 11 two-story units with private patios. Amenities will include a rooftop lounge with fitness center, coworking space, ground-floor coffee bar and outdoor deck with grills. The project will feature 3,700 square feet of ground-floor retail space and 21 parking spaces. Construction is underway, with completion slated for March 2027.
LINCOLN, NEB. — The Lied Center for Performing Arts in Lincoln has begun “Building the Future,” a $35 million privately funded addition and renovation to Nebraska’s Performing Arts Center, which is located at the University of Nebraska-Lincoln. The project will include a new entrance along Q Street as well as enhanced lobbies, a new studio theater and numerous other enhancements. Construction site preparations began in early February following the project’s approval by the University of Nebraska Board of Regents. Lied Center performances and programs will continue throughout construction. The project is slated for completion in fall 2027. The Lied Center opened in 1990 and was created with support from the Lied Foundation Trust. The center serves over 200,000 people per year at performance events, conferences and conventions and through its partnership with Lincoln’s Symphony Orchestra as the orchestra in residence. The Lied Center’s current venue spaces are dedicated to season performances, rental events and special programs. The new studio theater, totaling 11,150 square feet, will provide space for K-12 and Husker student performances. With space for performances, workshops, arts education classes and rehearsals, the new studio theater will enable independent activities to take place even when a national touring performance …
APPLETON, WIS. — Terramed Real Estate Solutions has acquired BluePearl Pet Hospital Fox Valley, a veterinary facility in Appleton within Wisconsin’s Fox Valley, for $7.1 million. The 32,232-square-foot emergency, specialty and urgent care property is the only 24-hour veterinary hospital in East Central Wisconsin. The transaction included the renegotiation of a new 10-year lease. The hospital’s team of 20 veterinarians offers orthopedic and soft-tissue surgery, internal medicine, dermatology, oncology, medical imaging and other advanced services. Terramed now holds a national portfolio of nearly 2 million square feet of medical real estate.
VILLA PARK, ILL. — Marquette Cos. has broken ground on The Union Villa Park, a 238-unit luxury apartment complex in the western Chicago suburb of Villa Park. The seven-story development in the Old Town neighborhood will feature 7,500 square feet of ground-floor commercial space. There will be 94 indoor parking spaces for public use that will serve the adjacent Villa Park Community Recreation Center, Cortesi Park and the surrounding business district, in addition to reserved parking for residents. The Union Villa Park will feature studio, one-, two- and three-bedroom floor plans. Amenities will include two outdoor decks, a pool, grilling stations, an outdoor lounge, fitness center, clubroom, coworking areas, a conference room, pet spa and bike storage with direct access to the adjacent Great Western Trail bike path. Leasing and delivery are expected to begin in fall 2027. Korb Architecture designed the project, and Weis Builders is the general contractor. MetLife is an equity partner. Associated Bank and Wintrust Financial jointly arranged $55 million in construction financing, with each company financing one-half of the total loan amount. Elizabeth Hozian of Associated Bank’s commercial real estate division managed the loan arrangements and closing. The project’s total cost is $89.8 million.
ST. PETERS, MO. — Sansone Group and Mia Rose Holdings are building The Preston at City Center, a $55 million multifamily project in St. Peters near St. Louis. The 216-unit development marks the launch of a new partnership between the two firms. The Preston at City Center will feature one-, two- and three-bedroom units. Amenities will include a pool, fitness center, coworking lounge, dog park and a ground-leased Exit 11 Coffee outlot. The developers closed on the land this month. Construction is expected to begin in April, with completion slated for the third quarter of 2027.
BAY CITY, MICH. — TopSide Marinas has acquired Bay Harbor Marina, a full-service marina located along the Saginaw River in Bay City. The transaction marks TopSide’s entry into the Michigan market. Established in 1967, Bay Harbor Marina spans 80 acres and features 400 wet slips, 100 dry stack slips and more than 500 winter storage spaces, including over 120,000 square feet of heated indoor storage. Onsite services include fuel docks, a ship store, mechanical and electronic repair, fiberglass and paint services, haul-out capabilities and both indoor and outdoor storage options. The marina serves boaters of all kinds, with members ranging from pontoon and sailboat owners to those operating large cruisers. TopSide plans to expand the service department and storage availability as well as enhance the store.
SPRING HILL, KAN. — Sallee Development has sold Oak Woods, a build-to-rent townhome community with 192 units in Spring Hill, a southern suburb of Kansas City. Located east of Highway 169, the property offers two-, three- and four-bedroom floor plans with attached garages. Atlanta-based Wrightwell was the buyer. Wrightwell now owns three communities in the Midwest.
By Joshua Allen and David Kelpe, JLL One year ago, CBRE Research forecasted a shortage of prime office space in Heartland Real Estate Business. That prediction has proven accurate. Since the beginning of 2025, demand for top-tier office space has continued to drive leasing activity across the region. This persistent appetite for quality has pushed prime Class A availability to record lows, creating a competitive environment for tenants and landlords alike. The St. Louis office market encompasses approximately 53 million square feet of competitive space. Yet, a closer look reveals a critical challenge: 73 percent of this inventory was constructed before the 1990s. This aging supply base means that only 2.6 million square feet qualifies as truly “prime” — the newest, most desirable assets located in walkable urban areas with abundant amenities. These buildings represent the gold standard for tenants seeking modern design, energy efficiency and proximity to vibrant neighborhoods. Currently, prime Class A availability sits at a mere 5.5 percent, a stark contrast to the 25.2 percent average for non-prime Class A assets. This gap reflects a clear and ongoing preference among tenants for buildings that combine high-quality construction with strategic location. In short, companies are willing to pay …
DAVENPORT, IOWA — Electro Freeze, a frozen treat machine manufacturer, has signed a 301,320-square-foot lease at Russell Industrial Park in Davenport within the Quad Cities. The company will relocate from East Moline in July. Michael Minard, Austin Hedstrom, Tanner Hedstrom and Marcus Pitts of JLL represented the landlord, Russell, an Iowa-based construction and development firm. The property is the fourth of six buildings to reach full occupancy within the 95-acre industrial park. Other tenants include Ryder Logistics, Nestlé Purina, PODS, Crescent Electric and Tube and Solid Tire. The buildings total nearly 1.5 million square feet, with over 500,000 square feet remaining available for lease. Electro Freeze’s commitment brings more than 200 jobs to Davenport.
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