Wednesday, June 17, 2026
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Midwest

IllinoisLeasing ActivityMidwestOffice

Huntington Bank Expands Chicago Office Lease to 60,900 SF

by Kristin Harlow

CHICAGO — Huntington Bank has signed a 10-year, 23,223-square-foot lease expansion at 222 N. LaSalle Street, growing its footprint to approximately 60,900 square feet at the 26-story building in downtown Chicago. Tishman Speyer owns the riverfront tower. The bank has operated at the property since 2011. Ellen May and Steve Golz internally represented Tishman Speyer, which also serves as property manager and leasing agent. Constructed in 1926, the building has recently undergone an expansive renovation program. The 1 million-square-foot tower is now 87 percent leased. All tenants have access to ZO Clubhouse, Tishman Speyer’s amenity network.

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AcquisitionsIndianaMidwestOfficeRetail

Cushman & Wakefield Brokers $12.3M Sale of Office, Retail Property in Carmel, Indiana

by Kristin Harlow

CARMEL, IND. — Cushman & Wakefield has brokered the $12.3 million sale of Monon & Main, a four-story, 34,650-square-foot office and retail property located at 211 W. Main St. in the northern Indianapolis suburb of Carmel. Situated in the Carmel Arts & Design District, Monon & Main was fully leased at the time of sale. Built in 2018, the property is comprised of 79 percent office and 21 percent retail space. Rebecca Wells of Cushman & Wakefield represented the seller, a private partnership led by the Hannum family. The buyer was a private investor.

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AcquisitionsLoansMidwestMultifamilyOhioSeniors Housing

Red Oak Capital Provides $11.1M Bridge Loan for Assisted Living Community in Dayton, Ohio

by Kristin Harlow

DAYTON, OHIO — Red Oak Capital Holdings LLC has provided $11.1 million in financing for the acquisition and capital improvements of Cottages of Clayton, a 90-unit assisted living community in Dayton. The bridge loan features an 18-month initial term and a loan-to-stabilized value of 69 percent. Stratos Athanassiades of Red Oak originated the loan, which was underwritten by Thomas Gorski and administered by James Myatt. The borrower, Clayton Realco LLC, is a private investor group that owns and operates 12 senior living communities. Built in 1999, Cottages of Clayton features seven cottage-style buildings with 90 studio units. Each building contains its own kitchen, laundry facilities and resident lounge areas. Amenities include a dining room, activity room, salon and outdoor spaces.

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DevelopmentIllinoisIndustrialMidwest

Krusinski Breaks Ground on 32,000 SF Addition for Nonprofit Food Distribution Hub in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Krusinski Construction Co. has broken ground on a 32,000-square-foot addition to the Loaves & Fishes Community Services food distribution hub at 580 Exchange Court in Aurora. The project will expand the building to 62,000 square feet, enabling the nonprofit organization to meet the increasing needs of food-insecure individuals and families in DuPage, Kane, Kendall and Will counties. Since 2019, food insecurity in the area served by Loaves & Fishes has increased by more than 50 percent, according to a release. The expansion project will create greater storage capacity, improved distribution efficiencies and enhanced collaboration capabilities with partner pantries. Krusinski will build new and expanded freezer and cooler space, a larger depressed dock with more efficient access for deliveries by full-size semi-trucks and trailers and an improved site layout that increases parking capacity and flow. Construction will be completed in four phases and includes increasing the capacity of utilities. The project team includes Powers Brown Architecture and Cage Civil Engineering.

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DevelopmentMidwestMultifamilyOhio

CASTO Opens 235-Unit Westrich Apartment Community in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — CASTO, in partnership with Columbus Metropolitan Housing Authority, The Weiler Co., The Kelley Family and Mark Cain, have opened Westrich, a 235-unit apartment community in the Franklinton neighborhood of Columbus. Oakwood Management Co. is the property manager. The five-story development includes 5,806 square feet of ground-floor retail space on Rich Street. Floor plans come in studio, one- and two-bedroom layouts. Amenities include a pool, fitness studio, resident lounge, pet spa and bike storage.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Brokers Sale of 160-Unit Multifamily Property in Kenosha, Wisconsin

by Kristin Harlow

KENOSHA, WIS. — Marcus & Millichap has brokered the sale of Orchard Courts Apartments, a 160-unit multifamily property in Kenosha. The community is situated on 32 acres, approximately 20 of which are available for potential future development. Positioned adjacent to the University of Wisconsin-Parkside, the property offers a mix of studio, one- and two-bedroom units totaling 91,144 rentable square feet. Built in 1965 and 1967, the asset has received more than $1.1 million in capital improvements completed over the past 24 months, including upgrades to boilers, windows, sliding glass doors and roofs. Jake Lenti, Ryan Engle and Andrean Angelov of Marcus & Millichap represented the seller and procured the buyer, both of which were private investors.

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IllinoisLeasing ActivityMidwestOffice

Quill Signs 60,000 SF Office Lease Renewal in Lincolnshire, Illinois

by Kristin Harlow

LINCOLNSHIRE, ILL. — Quill, a provider of office equipment, supplies and technology products, has signed a 60,000-square-foot office lease renewal at 300 Tri State International Drive in the northern Chicago suburb of Lincolnshire. The office is within Tri State Lincolnshire, a five-building, 560,000-square-foot office complex owned, operated and leased by Bradford Allen. Quill relocated to the property in 2023. Dan Fernitz of Bradford Allen negotiated the lease on behalf of ownership, which has invested more than $30 million in improvements since acquiring Tri State Lincolnshire in 2017.

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Build-to-RentLoansMidwestSingle-Family RentalWisconsin

Associated Bank Provides $8.8M Construction Loan for Build-to-Rent Community Near Milwaukee

by Kristin Harlow

GRAFTON, WIS. — Associated Bank has provided an $8.8 million construction loan for The Carillon at Grafton, a build-to-rent community in Grafton, about 22 miles north of downtown Milwaukee. Cirrus Property Group was the borrower. The project site is a 5.2-acre vacant lot at the intersection of Hunters and Mountain lanes, just west of Port Washington Road. The development will consist of 34 units across 10 buildings with 28 two-bedroom units and six three-bedroom residences. All homes will feature open floor plans, first-floor primary suites and a private fenced-in backyard with a one- or two-car attached garage. Construction is underway, and the first units are slated for occupancy in early 2027. Danielle Maletzke of Associated Bank managed the loan arrangements and closing.

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LoansMichiganMidwestMultifamily

Berkadia Arranges $35.2M Refinancing for Multifamily Property in Suburban Detroit

by Kristin Harlow

LAKE ORION, MICH. — Berkadia has arranged a $35.2 million loan to refinance Indian Lake Village Apartments, a 394-unit multifamily property in Lake Orion, a village located in the northern outskirts of Detroit. Wesley Moczul, Mitch Sinberg, Scott Wadler, Matt Robbins and Brad Williamson of Berkadia arranged the financing on behalf of the sponsor, Farmington Hills, Mich.-based Fenton Management Co. Freddie Mac purchased the 10-year, fixed-rate loan. The garden-style property is situated on 58 acres and was built between 1995 and 1997. There are 27 residential buildings with a mix of apartments and townhomes averaging 1,012 square feet. Amenities include a clubhouse, fitness center, business center, pool, tennis and volleyball courts, a sauna, game room, billiards room, library and conference room, pet play area and covered parking.

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DevelopmentIndianaMidwestMultifamily

Buckingham to Open Portrait Midtown Luxury Apartment Community in Metro Indianapolis This Summer

by Kristin Harlow

CARMEL, IND. — Buckingham Cos. will open Portrait Midtown, a luxury apartment community in Carmel. Move-ins are scheduled to begin later this summer. Residents can choose from one-, two- and three-bedroom apartments as well as two- and three-bedroom townhomes. Situated near the city’s Midtown Arts District, the property features a micro market, two fitness studios, grilling stations, a dog park, resort-style pool and fire pits. Residents can work from home in the lounges, coworking spaces and outdoor plaza areas. Additional amenities include valet trash removal, rentable storage, electric vehicle charging and a 400-stall parking garage. Two public art installations in the community include a large-scale installation by London-based public art studio Acrylicize and a custom mural by Carl Leck of CBL Imagery.

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