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DevelopmentIllinoisMidwestMultifamily

Summit Design + Build Completes 120-Unit Tapestry Station Luxury Apartment Complex in Evanston, Illinois

by Kristin Harlow

EVANSTON, ILL. — Summit Design + Build has completed construction of Tapestry Station, a 120-unit luxury apartment complex located at 740 W. Main St. in Evanston. The five-story property features ground-floor commercial space. Amenities include a rooftop deck, fitness center, heated parking and coworking space. Located on the site of the former Vogue Fabrics, Tapestry Station is situated next to a Metra Line station. City Pads and Catapult Real Estate Group served as the project developers and Built From was the architect. According to the property website, a grand opening special puts monthly rents starting at $1,495.

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Affordable HousingLoansMidwestMultifamilyOhio

BWE Provides $14.5M Acquisition Loan for Affordable Housing Building in Cincinnati

by Kristin Harlow

CINCINNATI — BWE has provided a $14.5 million Fannie Mae loan for the acquisition of Page Tower, a 169-unit affordable housing building in Cincinnati. The 14-story property was constructed in 1971. Amenities include a community room, mail room and central laundry area. The first floor features 7,500 square feet of commercial space. Victor Agusta Jr. of BWE originated the seven-year loan, which features 24 months of interest-only payments and a 35-year amortization. The property includes a 100 percent Section 8 HAP contract for four years.

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IllinoisLeasing ActivityMidwestRetail

Whole Foods Market to Expand Store at River Forest Town Center in Suburban Chicago

by Kristin Harlow

RIVER FOREST, ILL. — Whole Foods Market is expanding its existing 30,101-square-foot store at River Forest Town Center in the Chicago suburb of River Forest. The grocer will take over the adjacent 7,100-square-foot space formerly home to Rally House. The tenant also plans to complete a full remodel of its store and has signed a new 25-year lease. Dick Spinell of Mid-America Asset Management and Scott Stefanik of Midwest Commercial Realty negotiated the lease.

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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Lee & Associates Negotiates 106,120 SF Industrial Lease Expansion in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — Lee & Associates has negotiated a 106,120-square-foot industrial lease renewal and expansion at 300 Airport Road in Elgin. The tenant is UVA Distributors, a wine and spirits distributor. The lease includes UVA’s current unit of 46,130 square feet plus a 59,990-square-foot expansion. Kenneth Franzese, John Cassidy and Jeff Janda of Lee & Associates represented the owner, LINK Logistics. Mike Berkowitz of Entre Commercial represented the tenant. Built in 2010 and known as Fox River Business Center, the property totals 176,799 square feet and features a clear height of 30 feet.

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IllinoisLeasing ActivityMidwestOffice

Skyline Construction Signs 9,630 SF Office Lease at One East Wacker in Chicago

by Kristin Harlow

CHICAGO — Skyline Construction has signed a 9,630-square-foot office lease at One East Wacker in Chicago. AmTrust RE owns the 41-story, 560,000-square-foot building. Jon Milonas and Kyle Kamin of CBRE represented the tenant in the lease. Skyline’s new Chicago office will be nearly three times larger than its existing space. In 2023, AmTrust selected Skyline to lead a major capital improvements program for the office tower, upgrading the building’s exterior and conducting comprehensive interior renovations. In addition to a redeveloped lobby, the property features a new full-floor amenity space with a fitness area, event space, lounge, bar and various workspaces.  

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DevelopmentIllinoisMidwestRetail

Chicago Bears Release Plans for $3.2B Stadium Project in Chicago

by Kristin Harlow

CHICAGO — The NFL’s Chicago Bears have released their plans for the development of a new fixed-roof stadium along Chicago’s lakefront. Local media reports state that the project cost is $3.2 billion. Plans call for a publicly owned multipurpose stadium located just south of the organization’s current Soldier Field. The proposal boasts year-round use for recreational and community events and an increase in open and green space, including 14 acres of athletic fields and park space for use by public and youth sports programs. The plan features a three-acre promenade and plaza area, which could include year-round food-and-beverage outlets, retail shops, and a cultural attraction focused on sports and Soldier Field history. A publicly owned hotel could also be included in this portion. The stadium would be capable of hosting large-scale sporting events year-round, including Super Bowls and NCAA Final Fours, as well as entertainment acts. Additional project features include a pedestrian mall and pavilion, a wider variety of food-and-beverage options, more public restrooms, and the preservation of Soldier Field’s historic colonnades, which will remain accessible to fans and continue to honor military personnel. The Bears have pledged to contribute more than $2 billion to the project, representing over 70 …

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DevelopmentHealthcareIllinoisMidwest

Skender Breaks Ground on 75,000 SF Lurie Children’s Outpatient Center in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Skender has broken ground on a new 75,000-square-foot outpatient center for Ann & Robert H. Lurie Children’s Hospital of Chicago. Formally named Lurie Children’s Outpatient, Primary Care and Infusion Center, the project will be located at 1895 Arbor Glen Blvd. in Schaumburg. The center will offer primary care, ancillary and diagnostic services, orthotics and prosthetics, laboratory and pharmacy services, as well as an ambulatory infusion center. In addition to its main hospital in downtown Chicago, Lurie Children’s maintains 17 outpatient services locations, six primary care facilities and 10 partner hospitals throughout the Chicago area. The new center in Schaumburg will replace smaller locations in Arlington Heights, Hoffman Estates and Huntley. The project, which will total 40 exam and treatment rooms, is slated for completion in summer 2025. The project team includes architect HKS, structural and mechanical engineer IMEG Corp. and civil engineer V3 Cos.

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AcquisitionsMidwestMinnesotaMultifamily

JLL Arranges Sale of 48-Unit Oakmont Apartments in Coon Rapids, Minnesota

by Kristin Harlow

COON RAPIDS, MINN. — JLL Capital Markets has arranged the sale of Oakmont Apartments in Coon Rapids, a northern suburb of Minneapolis. The sales price was undisclosed. Built in 1974, the 48-unit multifamily property features an onsite laundry facility, garage parking and access to the neighboring Pheasant Ridge Park. Josh Talberg and Bill Mork of JLL represented the seller, Gaughan Cos. The asset was part of Gaughan’s Minnesota Legacy Apartment Portfolio, which consists of nearly 800 units. The buyer was a local private investor.

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AcquisitionsMichiganMidwest

Colliers Brokers Sale of 39,058 SF Maple Commerce Center in Troy, Michigan

by Kristin Harlow

TROY, MICH. — Colliers Detroit has brokered the sale of Maple Commerce Center, a 39,058-square-foot office and industrial asset in Troy. The sales price was undisclosed. Located at 950 W. Maple Road, the property was originally built as a truck repair facility in 1962. In the 1980s, Maple Commerce Center underwent significant renovations to serve an automotive engineering company. Later, Colliers worked with developer Cooke Management on a repositioning strategy to transform the property into multi-tenant use. Tenants include Superior Ambulance, Krav Maga, Italmoda, F.A.S.T. and R&B Dance Studio. The asset is fully leased. Gary Grochowski and Bryan Barnas of Colliers represented the seller, Cooke Management. Berge Avesian of Colliers represented the buyer, Barbat Group.

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HealthcareIllinoisLeasing ActivityMidwestOffice

Hummingbird Pediatric Therapies Signs 10,523 SF Office Lease in Elmhurst, Illinois

by Kristin Harlow

ELMHURST, ILL. — Hummingbird Pediatric Therapies has signed a 10,523-square-foot office lease at 501 W. Lake St. in the Chicago suburb of Elmhurst. The transaction marks the third location for Hummingbird in suburban Chicago. Renovation of the space is underway. Named the Hummingbird Therapy & Enrichment Elmhurst Center, the facility is slated to open this summer. Aubrey Englund of NAI Hiffman represented Hummingbird, while Norm Murdoch of Bradford Allen represented the undisclosed landlord. Hummingbird offers a wide variety of speech, feeding, occupational, physical and developmental therapies.

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