Tuesday, February 24, 2026
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AcquisitionsIllinoisMidwestRetail

JLL Arranges $28.4M Sale of Empire Crossing Shopping Center in Bloomington, Illinois

by Kristin Harlow

BLOOMINGTON, ILL. — JLL Capital Markets has arranged the $28.4 million sale of Empire Crossing, a 229,971-square-foot retail power center in Bloomington. Anchor tenants include Dick’s Sporting Goods, HomeGoods, Ashley Furniture HomeStore and DSW. The seller, BET Investments, completed a redevelopment that converted the long-vacant Kmart anchor store into multi-tenant space. Currently 85 percent occupied, the property offers value-add potential through 33,000 square feet of vacancy across eight suites. Michael Nieder and Brian Page of JLL represented the seller. Chase Properties was the buyer.

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IllinoisLeasing ActivityMidwestOffice

Law Firm Bartlit Beck Signs 80,000 SF Office Lease Expansion in Chicago’s River North

by Kristin Harlow

CHICAGO — Chicago-based investment and development firm Friedman Properties has completed an 80,000-square-foot office lease renewal and expansion with Bartlit Beck LLP at Court House Place in Chicago’s River North neighborhood. The lease increased the law firm’s footprint by more than 20 percent. Headquartered at Court House Place since 1993, Bartlit Beck is a national law firm with expertise in high-stakes commercial litigation, intellectual property, antitrust and unfair trade practices, breach of contract, shareholder disputes and product liability. Renovations will begin soon on the additional 15,000 square feet. Designed by architect Otto Matz and constructed in 1893, the Romanesque-style Court House Place formerly served as the Cook County criminal court. After acquiring the seven-story, 107,000-square-foot property in 1985, Friedman Properties executed a full redevelopment, transforming the building into modern office space. A renovation in 2018 added a rooftop deck. The property is listed in the National Register of Historic Places and has been designated a Chicago landmark.

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AcquisitionsIllinoisMidwestMultifamily

Triad Real Estate Partners Brokers Sale of 94-Unit Apartment Complex in Westmont, Illinois

by Kristin Harlow

WESTMONT, ILL. — Triad Real Estate Partners has brokered the sale of The Quincy Station Apartments in Westmont for an undisclosed price. Completed in 2022, the property consists of 94 units and a ground-floor restaurant named Whiskey Hill. Chicago-based Banner Real Estate Group purchased the asset from Holladay Properties. The property features one-, two- and three-bedroom units and is situated within steps of a Metra station.

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IllinoisLoansMidwestMultifamily

Greystone Provides $115M Agency Loan for Refinancing of Multifamily Community in Metro Chicago

by Kristin Harlow

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.

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DevelopmentIllinoisLoansMidwestMultifamily

JLL Arranges $44.1M in Construction Financing for Luxury Apartment Complex in Chicago

by Kristin Harlow

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.

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DevelopmentIllinoisMidwestMultifamily

Marquette Cos. Breaks Ground on 238-Unit Luxury Apartment Complex in Metro Chicago

by Kristin Harlow

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.

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AcquisitionsIllinoisMidwestMultifamily

Greenstone Partners Brokers $3.1M Sale of Chicago Apartment Building

by Kristin Harlow

CHICAGO — Greenstone Partners has brokered the sale of a 16-unit value-add apartment building located at 633 S. Laflin St. in Chicago’s Little Italy/University Village neighborhood. The asset sold for $195,000 per unit. The three-story building totals approximately 10,800 square feet and features a mix of one- and two-bedroom units. It is situated near the University of Illinois Chicago campus and the Illinois Medical District. Tom Galvin and Brewster Hague of Greenstone represented the seller, a private local owner, and procured the buyer, a private partnership based in Illinois.

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AcquisitionsIllinoisIndustrialMidwest

Dalfen Industrial Acquires Multi-Tenant Property in Chicago’s O’Hare Submarket

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Dalfen Industrial has acquired a multi-tenant industrial property on Howard Street in Elk Grove Village. Built in 1990, the facility offers immediate access to I-90, I-290, I-294 and the Chicago O’Hare International Airport. The asset is currently 75 percent leased and includes a move-in ready vacancy. Each suite features both dock-high and drive-in loading, providing flexible functionality for distribution and light industrial users. With this transaction, Dalfen now owns and operates 17 buildings across the Midwest. The company aims to double its footprint in the region over the next 12 months.

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AcquisitionsIllinoisMidwestMultifamilySeniors Housing

SVN Chicago Commercial Arranges Sale of 105-Unit Seniors Housing Community in Bolingbrook, Illinois

by Kristin Harlow

BOLINGBROOK, ILL. — SVN Chicago Commercial has arranged the sale of McKenzie Falls, a 105-unit seniors housing community located at 265 Lakeshore Drive in Bolingbrook. Reid Bennett and Dan Short of SVN Chicago served as the sole advisors on the transaction. The asset sold for $6.7 million. Buyer and seller information was not provided.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Negotiates $2.9M Sale of Retail Strip Center in Mount Prospect, Illinois

by Kristin Harlow

MOUNT PROSPECT, ILL. — Marcus & Millichap has negotiated the $2.9 million sale of a 22,910-square-foot retail strip center located at 1776 Algonquin Road in Mount Prospect. Mitchell Kiven, Coult Greenwell, Eric Abbott and Zachary Taylor of Marcus & Millichap represented the seller, a large property owner with a national retail portfolio, and procured the buyer, a local investor who operates a chain of grocery stores. Built in 1964, the property sits on 1.8 acres and features 13 suites. The buyer plans to improve the physical condition of the asset and work to lease second-floor space.

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