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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Newer Posts