Midwest Archives - REBusinessOnline

Cushman & Wakefield, JLL Broker Sale of 2,043-Unit Self-Storage Portfolio in Chicago

Kristin Harlow — Wed, 20 May 2026 13:24:36 +0000

CHICAGO — Cushman & Wakefield and JLL have brokered the sale of a two-property self-storage portfolio in Chicago. The brokerage firms represented the seller, Self Storage 1. Etude Storage Capital purchased the portfolio, which comprises 2,043 units across 150,216 square feet in the Lincoln Park/Bucktown and Wrigleyville/Lakeview neighborhoods. Cushman & Wakefield’s Greg Wells, Mike Mele, Luke Elliott and Ross Bailey partnered with JLL’s Steve Mellon, Brian Somoza, Dan Reynolds and Tom Kirschbraun. The portfolio offers immediate scale and operating efficiencies, along with upside through continued lease-up, rental rate optimization and unit mix refinement, according to a release.

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Colliers Negotiates Sale of 208,000 SF Industrial Facility in Rossford, Ohio

Kristin Harlow — Wed, 20 May 2026 13:24:07 +0000

ROSSFORD, OHIO — Colliers has negotiated the sale of Innovation Industrial Park Building 2, a 208,000-square-foot industrial facility in Rossford near Toledo. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Tim Breckner and Conor Toomey of Colliers represented the seller, Scannell Properties. Glen Una Management Co. was the buyer. Delivered in 2022, the property is fully leased to Logos Logistics, Norplas Industries Inc. and Grabber Construction Products. The rear-load facility features a clear height of 32 feet, 24 dock-high doors, two drive-in doors, a 130-foot truck court and 58 trailer parking stalls.

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Skender Breaks Ground on 33-Unit Affordable Housing Development in Evanston, Illinois

Kristin Harlow — Wed, 20 May 2026 13:23:24 +0000

EVANSTON, ILL. — Skender has broken ground on Mt. Pisgah Apartments, a 33-unit affordable housing development in Evanston. The project, led by Housing Opportunity Development Corp. (HODC) in partnership with Skender, Mt. Pisgah Ministries and the City of Evanston, will transform the current church site at 1813 Church St. The one-, two- and three-bedroom units will be reserved for households earning up to 60 percent of the area median income. The development will also include 2,250 square feet of ground-floor commercial space, shared community amenities and energy-efficient building features. Mt. Pisgah Apartments will remain under the long-term ownership and management of HODC. Cordogan, Clark & Associates Inc. is the architect. Financing partners include the Illinois Housing Development Authority, City of Evanston, Clocktower Tax Credits, Housing Authority of Cook County, National Equity Fund, Wintrust Village Bank & Trust and ComEd.

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Marcus & Millichap Arranges $3.4M Sale of Medical Office Building in Gurnee, Illinois

Kristin Harlow — Wed, 20 May 2026 13:22:48 +0000

GURNEE, ILL. — Marcus & Millichap has arranged the $3.4 million sale of a 10,000-square-foot medical office building leased to Aurora Health Care in Gurnee. The Class A property was built in 2005. Aurora Health Care offers dermatology, family medicine and internal medicine services at the facility. Frank Roti and Brett Rodgers of Marcus & Millichap represented the seller, a private entity. Brian Munn of Marcus & Millichap procured the East Coast-based buyer, which completed a 1031 exchange.

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JLL Arranges $141.8M Refinancing for Wolf Point West Luxury Apartment Tower in Chicago

Kristin Harlow — Tue, 19 May 2026 14:05:15 +0000

CHICAGO — JLL Capital Markets has arranged a $141.8 million loan for the refinancing of Wolf Point West, a luxury multifamily property in Chicago’s River North neighborhood. JLL represented the borrower, Hines, in partnership with AFL-CIO Building Investment Trust (advised by DWS Group), Magellan Development Group and the Jospeh P Kennedy Trust. New York Life Insurance Co. provided the three-year, floating-rate loan. Located at 343 W. Wolf Point Plaza, the property sits on the Wolf Point peninsula at the confluence of the three branches of the Chicago River. Delivered in 2016, Wolf Point West rises 48 stories with 509 units across 379,264 square feet. Designed by bKL Architecture, the LEED Silver-certified building features amenities such as an outdoor pool, fitness center, game room with golf simulator, business center and indoor-outdoor dog lounge. Danny Kaufman, Medina Spiodic, Rebecca Brielmaier and Youngsoo Yang led the JLL team. Hines developed the building and serves as property manager.

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Bradford Allen Opens 301-Unit Arbor House Apartments in Arlington Heights, Illinois

Kristin Harlow — Tue, 19 May 2026 14:03:19 +0000

ARLINGTON HEIGHTS, ILL. — Bradford Allen has opened Arbor House, a luxury apartment community rising eight stories with 301 units in Arlington Heights. Arbor House offers studio, one-, two- and three-bedroom units. Spanning 17,500 square feet, the amenity space features a fitness center, resident lounge with golf simulator, game tables and a kitchen. Additional amenities include coworking suites on the first and fourth floors, a concierge desk, covered parking and pet spaces such as an onsite dog run and washing station. Residents also have access to a private outdoor terrace with a pool, spa, fire pits, grills and seating. The property includes 26,000 square feet of ground-floor retail space. Abor House serves as the anchor of Bradford Allen’s 18-acre mixed-use district known as Arlington Gateway. The project reimagines the southeast entrance to Arlington Heights as a live-work-play community. The integrated master plan concept includes a full renovation of the former Daily Herald building, now branded as Arlington Med, placing Arbor House residents steps from a 150,000-square-foot wellness center.

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Joseph Nicholas Construction Breaks Ground on Cadillac Dealership in Chicago

Kristin Harlow — Tue, 19 May 2026 14:02:38 +0000

CHICAGO — Joseph Nicholas Construction, in partnership with Jack Carter Auto Group, has broken ground on Carter Cadillac of Chicago, a new dealership at 1400 W. North Ave., part of the former Lincoln Yards site. The new facility will be the brand’s third flagship store in the world, after locations in Manhattan and Los Angeles. The dealership is expected to open in late 2027. The development will include a two-story showroom and a six-level parking garage with 490 spaces for inventory and customer parking. Based in Calgary, Alberta, Jack Carter Auto Group is a large independent retail automotive dealership group that operates locations across Canada and the U.S.

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The Community Builders Completes 64-Unit Affordable Housing Development in Cleveland

Kristin Harlow — Tue, 19 May 2026 14:01:37 +0000

CLEVELAND — The Community Builders (TCB) has completed Woodhill Station East, the third phase of the Buckeye-Woodhill Choice Transformation in Cleveland. The building delivers 54 affordable apartments and 10 market-rate units for residents in the Buckeye-Woodhill neighborhood and is situated immediately to the east of Woodhill Station West. Woodhill Station East is the third phase in the redevelopment of the former Woodhill Homes. A commercial space will host up to three tenants. Residents have access to amenities including a community room, lounges, a fitness center, landscaped greenspace and an outdoor patio. All units are pre-wired for high-speed internet service, including low-cost access provided by Digital-C. TCB will oversee a wide range of resource and programming partners and activities, including a team of TCB Community Life case managers, which will provide onsite supportive service programming. They will connect residents to opportunities in six areas: workforce development, asset building, community engagement, youth development, education and health and wellness. Financial partners included Lument, Ohio Capital Corp. for Housing, Ohio Housing Finance Agency, Citizen’s Bank, HUD Choice Neighborhoods program, TCB, Cuyahoga Metropolitan Housing Authority (CMHA) and the City of Cleveland via ARPA HOME funds. In 2021, HUD awarded a $35 million Choice Neighborhoods Implementation…

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Cushman & Wakefield Brokers $26.4M Sale of Build-to-Rent Community in Matteson, Illinois

Kristin Harlow — Mon, 18 May 2026 13:40:06 +0000

MATTESON, ILL. — Cushman & Wakefield has brokered the $26.4 million sale of The Manors at Brookmere, a 108-unit build-to-rent (BTR) community in Matteson, a southern suburb of Chicago. Homebuilder Lennar developed the property in 2016. The transaction represents one of the first sales of a stabilized BTR community in Chicagoland, according to Cushman & Wakefield. Brad Smith, Jack Maloney and Anna Lovell of Cushman & Wakefield represented the seller, Haven Realty Capital. The buyer was a joint venture between Ashland Capital and Crest Capital. The Manors at Brookmere consists of a collection of contiguous quadplex buildings offering two-story residences with two- and three-bedroom layouts. Units include private entrances, attached one- and two-car garages, vaulted ceilings in living areas, stainless steel appliances and in-unit washers and dryers. Daniel Management Group will manage the property.

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AKIRA Signs 202,105 SF Industrial Lease Extension in Metro Chicago

Kristin Harlow — Mon, 18 May 2026 13:39:16 +0000

BOLINGBROOK, ILL. — Chicago-based fashion retailer AKIRA has signed a long-term lease extension for 202,105 square feet of warehouse space at 150 E. Crossroads Parkway, Unit A, in Bolingbrook. Dan Leahy and Dan O’Neill of NAI Hiffman represented the tenant. Since its founding in 2002, AKIRA has grown from a single boutique into 40 stores across multiple states along with an e-commerce platform. In late 2024, NAI Hiffman was engaged to conduct a comprehensive market assessment of industrial warehouse opportunities throughout the Midwest ahead of AKIRA’s lease expiration. The evaluation process included market surveys, ownership outreach, financial modeling and operational logistics analysis. Prologis owns the property.

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Colliers Negotiates Sale of 149,012 SF Industrial Portfolio in Indianapolis

Kristin Harlow — Mon, 18 May 2026 13:38:38 +0000

INDIANAPOLIS — Colliers has negotiated the sale of Georgetown Commerce Park, a two-building light industrial portfolio totaling 149,012 square feet in Indianapolis. The properties are situated within the Park 100 industrial park and feature clear heights ranging from 16 to 20 feet, 25 dock doors, 23 drive-in doors and 337 parking spaces. At the time of sale, the portfolio was 95.6 percent occupied by 21 tenants. Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse, Tyler Ziebel, Jason Speckman, Tyler Wilson and Sydney Gabriel of Colliers represented the undisclosed seller. The buyer was Blue Ridge Industrial LLC, a Dallas-based private equity firm.

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Cooper Group Arranges Sale of Multi-Tenant Retail Center in Washington Court House, Ohio

Kristin Harlow — Mon, 18 May 2026 13:37:46 +0000

WASHINGTON COURT HOUSE, OHIO — The Cooper Commercial Investment Group has brokered the sale of Fayette Square, a multi-tenant retail center in Washington Court House, about 50 miles east of Dayton. The property is fully leased and shadow anchored by Walmart Supercenter. Dan Cooper of Cooper Group represented the seller, a Texas-based investment group. The asset sold to a Kentucky-based buyer at a cap rate of 8 percent.

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Colliers Brokers Sale of 321,000 SF Office Building in Kansas City

Kristin Harlow — Fri, 15 May 2026 13:22:57 +0000

KANSAS CITY, MO. — Colliers has brokered the sale of 2323 Grand Boulevard in Kansas City’s Crown Center submarket. Evan Warwick of Colliers represented the seller, Stanton Road Capital LLC. Bryan Johnson of Colliers represented the buyer, Crain Co., a multifamily acquisition and development company based in Wichita. Amenities at the property include a full-service cafeteria with outdoor seating, dedicated management and maintenance teams, 24-hour security and a fitness center. Recent capital enhancements included a renovated lobby, common areas and elevator systems. The 11-story building was developed in 1985. Stanton Road Capital acquired the property in 2017.

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TruCore Industrial Acquires 71,552 SF Single-Tenant Property in Peoria, Illinois

Kristin Harlow — Fri, 15 May 2026 13:22:17 +0000

PEORIA, ILL. — TruCore Industrial, an owner and operator of Class B industrial real estate, has acquired a 71,552-square-foot property in Peoria net leased to HD Supply, a wholly owned subsidiary of The Home Depot. The facility is located just off North Allen Road and State Route 6. HD Supply is a wholesale distributor of maintenance, repair and operations products in North America, serving multifamily, hospitality, healthcare, institutional, commercial, government and education facilities. HD Supply operates more than 100 distribution centers across the U.S. and Canada.

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Four Retailers Open at 1.1 MSF Rosedale Center in Minnesota

Kristin Harlow — Fri, 15 May 2026 13:21:33 +0000

ROSEVILLE, MINN. — In April, Swavorski opened a 1,051-square-foot store and PacSun opened its newly remodeled 3,995-square-foot store at Rosedale Center, a 1.1 million-square-foot shopping mall in Roseville within metro Twin Cities. Later this month, Hammer Made will open its 576-square-foot store. Lastly, Abercrombie & Fitch will debut a 5,500-square-foot space this summer. Tenants that opened at the property in 2025 include Kendra Scott, J.Crew Factory, Johnston & Murphy, Lolli & Pops, Paris Baguette and BRKThrough. Lane Walsh and Holly Rome of JLL lead the leasing efforts at Rosedale Center.

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Two New Tenants Ink Leases Totaling 10,700 SF at Medical Outpatient Building in Lindenhurst, Illinois

Kristin Harlow — Fri, 15 May 2026 13:21:01 +0000

LINDENHURST, ILL. — Action Behavior Centers Therapy and Smile Partners have inked leases totaling 10,700 square feet at 1025 Red Oak Lane in Lindenhurst, a far north suburb of Chicago. Davis owns the Class A medical outpatient building. Jason Wurtz and Sarah Walker of NAI Hiffman represented Davis. Constructed in 2012, the two-story, 44,684-square-foot property offers space designed specifically for healthcare users, including efficient floor plates, 10-foot ceiling heights and infrastructure capable of supporting advanced medical technologies.

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Vedder Signs 163,000 SF Headquarters Lease Extension in Downtown Chicago

Kristin Harlow — Thu, 14 May 2026 13:11:04 +0000

CHICAGO — Vedder has signed a 163,000-square-foot headquarters lease extension at 222 N. LaSalle Street, a 26-story office building in downtown Chicago. Vedder signed a 12-year extension to maintain its global headquarters at the building through 2041. The law firm, which has been headquartered at 222 N. LaSalle since 1988, will continue to occupy 163,000 square feet across five floors. Tishman Speyer serves as property manager and leasing agent at the property and was internally represented by Ellen May, Steve Golz and Bella Rapken. Joe Learner and Adam Southard of Savills represented Vedder. The 1 million-square-foot property recently received renovations and is now 87 percent leased. The renovated lobby features new food-and-beverage options, and the Zo Clubhouse features a new outdoor patio. All tenants have access to Zo Clubhouse, Tishman Speyer’s amenity network. Originally constructed in 1926, the building features unobstructed views of the Chicago River, flexible floorplates and convenient transit access.

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Construction Begins on First Amusement Park Ride at Oasis at Lake of the Ozarks in Missouri

Kristin Harlow — Thu, 14 May 2026 13:10:17 +0000

OSAGE BEACH, MO. — Construction teams are now installing the first amusement park ride at Oasis at Lake of the Ozarks in Osage Beach. The family tower ride, named The Plunge, will lift riders 100 feet into the air to experience sweeping views of the lake before plunging them back down to the landing zone at high speeds. Standing as tall as the Natural Bridge at Ha Ha Tonka State Park in Camdenton, Mo., The Plunge will be one of the tallest structures in the area. The Plunge is one of 12 amusement rides planned for the Oasis Lake of the Ozarks entertainment destination. The amusement park, parking garage and boat slips are scheduled to open in spring 2027. The indoor water park and Marriott Resort & Conference Center will follow. When complete, Oasis Lake of the Ozarks will operate as a year-round destination featuring multiple restaurants and a wide range of attractions, including two roller coasters, a nearly 200-foot-tall observation wheel, the largest indoor water park in Missouri and a 401-room Marriott Resort.

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SF Capital Group Arranges $32M Acquisition Loan for Michigan Multifamily Property

Kristin Harlow — Thu, 14 May 2026 13:09:46 +0000

SHELBY TOWNSHIP, MICH. — SF Capital Group has arranged a $32 million loan for the acquisition of a 368-unit multifamily property in Shelby Township. Ryan Denomme of SF Capital arranged the nonrecourse bridge loan, which features three years of interest-only payments and future funding commitments. The undisclosed borrower plans to execute a property improvement and unit renovation plan.

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Realterm Acquires 28,985 SF Industrial Outdoor Storage Facility in Bridgeview, Illinois

Kristin Harlow — Thu, 14 May 2026 13:08:59 +0000

BRIDGEVIEW, ILL. — Realterm, an independent global investment manager focused on the transportation industry, has acquired 9655 Industrial Drive, an industrial outdoor storage maintenance facility in Bridgeview, a southwest suburb of Chicago. Located on a nearly 4-acre site, the 28,985-square-foot maintenance facility offers 10 oversized drive-in doors and a 6,000-square-foot office. The entire maintenance facility is leased to Carrier Corp., a subsidiary of the global HVAC and refrigeration solution provider. Matt Knafel of KWILL Real Estate represented Realterm in the sale.

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