Illinois

Amazon Acquires Chicago Distribution Facility from Logistics Property Co. for $195M

by Hayden Spiess October 8, 2026

CHICAGO — Logistics Property Co. has sold a distribution facility located at 1237 W. Division St. in Chicago for $195 million. Amazon (NASDAQ: AMZN) has been reported as the buyer by multiple media outlets. Situated near downtown Chicago and totaling 571,423 square feet, the property was the first multi-story logistics facility to be developed in the Midwest, according to JLL. The facility was purpose-built for distribution operations and features clear heights over 34 feet, 56 loading docks, 135-foot truck court depths, a dedicated second-floor truck ramp and 10,000 amps of power. Parking capacity at the facility includes a 292,500-square-foot rooftop parking deck and an adjacent five-level parking structure, which together accommodate up to 1,590 automobiles or 763 vans. According to JLL Capital Markets, which brokered the sale, more than 1 million residents live within a five-mile radius of the property, which is situated roughly three miles from Chicago’s central business district, with convenient access to Chicago O’Hare International and Chicago Midway International airports. Amazon plans to begin operations at the facility in late 2027 or early 2028 and use the property as a same-day delivery center, according to the Chicago Sun-Times. Logistics Property Co. completed the development in late 2024. In …

October 8, 2026

Development Illinois Midwest Office

Flexday Launches Four Fractional Office Suites at PNC Centre in Chicago

by Kristin Harlow October 7, 2026

CHICAGO — Flexday, a national provider of flexible office solutions, has launched four fractional office suites at PNC Centre in Chicago’s Loop. The suites total more than 25,000 square feet and are designed to accommodate teams of 10 to 70 with flexible lease terms. The launch was made possible through a partnership with MetLife Investment Management, the building’s ownership group, as part of a broader capital investment in PNC Centre that includes a newly renovated lobby and upgraded tenant amenities. Brad Despot, Kim Doyle and Catherine Walsh of JLL represent MetLife at PNC Centre.

October 7, 2026

Acquisitions Illinois Midwest Retail

Marcus & Millichap Brokers $6.3M Sale of Medical-Anchored Retail Portfolio in La Grange, Illinois

by Kristin Harlow October 7, 2026

LA GRANGE, ILL. — Marcus & Millichap has brokered the $6.3 million sale of a three-building, medical-anchored retail portfolio in downtown La Grange. The 34,279-square-foot, 12-suite portfolio spans an entire block and is located directly across from the Stone Avenue Metra Station. Longstanding tenants include Duly Health Care and Corte Dental, alongside national brands such as Rush Physical Therapy, Mathnasium and Berkshire Hathaway HomeServices. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Sharko | Weisenbeck | Mendoza Group represented the seller, a private investor who is a long-term owner of properties in La Grange.

October 7, 2026

Acquisitions Illinois Midwest Retail

Mid-America Negotiates Sale of 240,345 SF Shopping Center in Lombard, Illinois

by Kristin Harlow October 6, 2026

LOMBARD, ILL. — Mid-America Real Estate Corp. has negotiated the sale of High Point Centre, a 240,345-square-foot shopping center in Lombard. The property presents a value-add opportunity, as it is 68 percent leased. Tenants include LA Fitness, Altitude Trampoline Park, Ace Dental, Burger King, Mango Mango Desserts, Sport Clips, Seoul Bites Korean BBQ, Souq Market and Tropical Smoothie Café. Ben Wineman of Mid-America represented the seller, a publicly traded REIT. A private investment group was the buyer.

October 6, 2026

Acquisitions Illinois Midwest Retail

Quantum Brokers $7.3M Sale of Retail Center in Naperville, Illinois

by Kristin Harlow October 6, 2026

NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the $7.3 million sale of a 23,000-square-foot retail center in Naperville. Located at 175 W. Jackson St., the property consists of eight suites. The buyer was a Chicago-based family office, and the seller was a private family that had owned and managed the property for over 30 years. Brett Berlin of Quantum brokered the transaction. At the time of sale, the asset featured two vacancies.

October 6, 2026

Company News Illinois Midwest

Eisenberg Foundation to Host Annual Dinner in Support of Gastrointestinal Cancer Research

by John Nelson October 6, 2026

NORTHBROOK, ILL. — The Harold E. Eisenberg Foundation will host its marquee annual networking and fundraising dinner on Thursday, Nov. 5, at the Hilton Chicago located at 720 S. Michigan Ave. The goal for the foundation’s signature event — which benefits gastrointestinal cancer research programs at the Robert H. Lurie Comprehensive Cancer Center within Northwestern Medical Center — is to raise more than $750,000 through sponsorships (see list of sponsors below), ticket sales and other program opportunities. Now in its 27th year, the annual dinner is expected to attract more than 700 professionals from the commercial real estate and related industries, the business community, as well as cancer medicine and research practitioners from the Chicago area, including the Lurie Cancer Center. The overarching goal of the foundation is to make a difference in the lives of those diagnosed with any one of nine gastrointestinal cancers and to increase the rate and length of survivorship. “As we celebrate and honor survivors and caregivers, we recognize the critical importance of cancer research and the role that individuals and the private sector play in today’s world,” says Peter Eisenberg, president of the board of directors of the Harold E. Eisenberg Foundation headquartered in …

October 6, 2026

Acquisitions Illinois Midwest Multifamily

Becovic Residential Acquires Chicago Apartment Building for $20M

by Kristin Harlow October 5, 2026

CHICAGO — Becovic Residential has acquired an historic property at 5154 N. Clark St. in Chicago for $20 million and has rebranded it as The Quarters at Andersonville. Built in 1923, the asset consists of 81 apartments and 10 ground-floor commercial spaces. The property had been held by its previous ownership for more than 40 years. The acquisition marks Becovic’s entry into the Andersonville neighborhood. Becovic plans to preserve the building’s historic character while making improvements to the residential experience. Becovic Management Group Inc. will provide property management services. Essex Realty Group brokered the transaction. Elizaeth Hozian of Associated Bank originated acquisition financing.

October 5, 2026

Illinois Industrial Loans Midwest Multifamily

Draper and Kramer Arranges Two Loans Totaling $27.5M for Chicago-Area Multifamily, Distribution Properties

by Kristin Harlow October 2, 2026

CHICAGO AND BRIDGEVIEW, ILL. — Draper and Kramer Inc. has arranged two loans totaling $27.5 million. The transactions include a $13.5 million loan to finance the acquisition of a three-building industrial complex in Bridgeview, a southwest suburb of Chicago, and a $14 million bridge loan for a 56-unit multifamily property in Chicago’s Edgewater neighborhood. Dan Freedman and Chris Beck of Draper and Kramer’s Commercial Finance Group arranged the loans. The distribution center serves as the headquarters for Chicagoland Quad Cities Express. A joint venture between Curtis Ashton Partners and Burnham Industrial Partners was the borrower. A correspondent life insurance company provided the loan. The newly constructed multifamily property is located at 1101 W. Berwyn Ave. Draper and Kramer secured the bridge loan on behalf of the developer with a two-year initial term and an option to extend for an additional three years.

October 2, 2026

Acquisitions Illinois Midwest Multifamily Retail

Greenstone Partners Arranges $3.2M Sale of Apartment, Retail Building in Chicago

by Kristin Harlow October 1, 2026

CHICAGO — Greenstone Partners has arranged the $3.2 million sale of a three-story, 4,650-square-foot property located at 1560 N. Damen Ave. in Chicago’s Wicker Park. The ground-floor retail space is occupied by Stan’s Donuts & Coffee, a regional bakery that has operated at the location since its founding in 2013. The upper floors include two large apartment units. Danny Spitz and Brewster Hague represented the seller and procured the private buyer.

October 1, 2026

Illinois Leasing Activity Midwest Office Top Stories

Morningstar to Relocate Headquarters to Chicago’s Thompson Center, Inks 275,000 SF Lease

by Kristin Harlow September 30, 2026

CHICAGO — Morningstar Inc. (NASDAQ: MORN), a provider of independent investment insights, has unveiled plans to relocate its global headquarters to the Thompson Center in Chicago’s Loop. Morningstar will co-anchor the building alongside owner Google and will occupy more than 275,000 square feet. The company plans to move to the property in late 2028. The lease marks Chicago’s largest downtown office transaction in 2026 to date, according to Morningstar, which has been headquartered in Chicago since its founding over 40 years ago. Morningstar currently employs over 1,500 people in Chicago. Located at 171 N. LaSalle St., the Thompson Center is one of the city’s highest-profile revitalization projects. Google announced plans to acquire the 1.2 million-square-foot property in 2022 and recently shared new design renderings for the renovation. The all-electric building will feature direct access to public transit, large floor plates, a 17-story atrium with food-and-beverage and retail offerings, as well as onsite employee amenities. Famed Chicago architect Helmut Jahn designed the Thompson Center, which opened in 1985 as the State of Illinois Center. The property was later renamed to honor Illinois Gov. James R. Thompson. Alongside its headquarters move, Morningstar plans to donate $5 million over the next five years …

September 30, 2026

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