Illinois

Marcus & Millichap Brokers $20.4M Sale of Chicago Multifamily Property

by Kristin Harlow August 24, 2026

CHICAGO — Marcus & Millichap has brokered the $20.4 million sale of a 98-unit multifamily property located at 1515 N. Fremont St. in Chicago’s Lincoln Park neighborhood. The building also features roughly 4,000 square feet of commercial space. Built in 2016, the property offers studio units and features a work-and-play lounge, barbecue and picnic areas, indoor bicycle storage and package locker service. Kyle Stengle of Marcus & Millichap represented the seller, Jack Duncan of Thesis Investment Group, and procured the buyer, Bill Silverstein of Beal Properties.

August 24, 2026

Acquisitions Illinois Midwest Retail

Boulder Group Arranges $2.8M Sale of Huntington Bank-Occupied Retail Property in Metro Chicago

by Kristin Harlow August 24, 2026

BUFFALO GROVE, ILL. — The Boulder Group has arranged the $2.8 million sale of a single-tenant retail property net leased to Huntington Bank at 401 Deerfield Parkway in Buffalo Grove. The tenant occupies a 2.5-acre parcel that includes five drive-thru lanes. The 4,680-square-foot building was constructed in 1995. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a Midwest-based real estate fund, and the buyer, a West Coast-based individual investor. Huntington Bank’s lease expires on July 31, 2031. The lease includes two five-year renewal options.

August 24, 2026

Development Illinois Midwest Multifamily

First Move-Ins to Begin Soon at The Bellwether Office-to-Residential Conversion Project in Chicago

by Kristin Harlow August 21, 2026

CHICAGO — First move-ins are expected to begin later this month or early September for The Bellwether, an office-to-residential conversion of the building at 79 W. Monroe in Chicago’s Loop. RMK Management Corp. has been hired to oversee leasing and property management for the 14-story, 117-unit community, which is currently 57 percent leased. Originally built in 1905, the property underwent a major expansion in 1924, serving as office space and a bank headquarters over the years. In 2025, R2 Cos. began redevelopment of the structure. The project marks the first office-to-residential conversion to be completed as part of the city’s LaSalle Street revitalization initiative, which provides private funding and tax-increment financing assistance for mixed-income residential projects and other neighborhood-oriented amenities in the corridor. The Bellwether features studio, one- and two-bedroom units measuring 425 to 1,178 square feet, with rents ranging from $1,996 to $4,887 per month. The property includes 41 Affordable Requirements Ordinance units. Amenities include a variety of remote workspaces on the 14th floor, a bar area, fitness center, two sauna rooms, a game room, dog spa and rooftop deck.

August 21, 2026

Development Illinois Industrial Midwest

LSC Development Completes Self-Storage Adaptive Reuse Project in Lombard, Illinois

by Kristin Harlow August 21, 2026

LOMBARD, ILL. — LSC Development LLC has completed a new self-storage facility at 665 W. North Ave. in the Chicago suburb of Lombard. The project is located at the intersection of North Avenue and I-355 and is six miles southwest of the Chicago O’Hare International Airport. The development is the adaptive reuse of a former Staples office building, which has been transformed into a five-story, fully climate-controlled self-storage facility. The property features 69,375 rentable square feet of self-storage space, 14,960 rentable square feet of parking and a gated vehicle storage area with 64 spaces for RVs, boats and other vehicles. The facility features secure keypad entry and camera surveillance. Groundwork LTD designed the project, while G.A. Johnson & Son served as the general contractor. Byline Bank provided construction financing. Extra Space Storage is managing the facility.

August 21, 2026

Illinois Leasing Activity Midwest Office

Adams Street Signs 46,000 SF Headquarters Lease in Chicago

by Kristin Harlow August 20, 2026

CHICAGO — Adams Street Partners LLC, a private markets investment management firm, has signed a long-term lease for roughly 46,000 square feet at 120 South Riverside Plaza, relocating its headquarters from One North Wacker in Chicago. The firm is expected to move into its new space in summer 2027. The new headquarters will span the entire 20th floor and a portion of the 21st floor. John Goodman, Eric Feinberg, Brandon Nasatir and Isabell Schwartz of Savills represented the tenant. Kelsey Scheive of CBRE in partnership with the Hines asset management team represented the landlord, La Caisse.

August 20, 2026

Acquisitions Development Illinois Midwest

Metro Chicago’s Wingspan Development, UrbanStreet Complete Merger

by Kristin Harlow August 20, 2026

MOUNT PROSPECT, ILL. — UrbanStreet Group and Wingspan Development Group, a national development arm of Nicholas Family of Cos. (NFOC), have completed a merger. Wingspan will transition its future pipeline of multifamily and mixed-use developments to UrbanStreet, which will lead multifamily development efforts. Nicholas & Associates, the general contracting arm of NFOC, will continue to provide construction services for any multifamily projects that fall under the alliance in Illinois, Florida and Wisconsin as well as additional markets when feasible. Excluding projects currently underway in its portfolio, Wingspan’s future involvement in multifamily will focus on investment and third-party construction services. Wingspan will focus on its continued expansion in commercial sectors such as sports and entertainment venues, retail, industrial and land development. Together, UrbanStreet and NFOC have delivered more than 7,500 multifamily units across 25 completed projects, representing more than $3 billion in combined development value.

August 20, 2026

Acquisitions Illinois Midwest Multifamily

JVM Realty Acquires 280-Unit Multifamily Community in Oswego, Illinois

by Kristin Harlow August 19, 2026

OSWEGO, ILL. — JVM Realty Corp. has acquired Springs at Oswego, a 280-unit luxury apartment community in the southwest Chicago suburb of Oswego. Brad Smith and Jack Maloney of Cushman & Wakefield represented the seller, Continental Properties. JVM is rebranding the property to Trillium at Oswego. Completed in 2019, the gated community features townhome-style units across a collection of two-story buildings. Floor plans range from 623 to 1,430 square feet. Amenities include a heated swimming pool, fitness center, clubhouse, outdoor grilling stations, a car wash, two dog parks and a pet spa.

August 19, 2026

Development Illinois Industrial Midwest Self-Storage

Columbus Development Opens 200-Unit Ottawa Easy Storage Facility in Illinois

by Kristin Harlow August 18, 2026

OTTAWA, ILL. — Ottawa Easy Storage has opened with 200 units in its first phase. An additional 200 units is planned for future development. The facility offers a one-year rate guarantee, meaning that rental rates will not increase during a customer’s first year of storage. Sean Garrett of Columbus Development Co. developed the project. The firm also owns local shopping centers North Ottawa Plaza and Columbus Square, and has plans for additional development along East Etna Road. Blunier Builders served as general contractor. Monument provided facility management software. SafeLease and StorageDefender offerings will be available to tenants.

August 18, 2026

Acquisitions Illinois Midwest Multifamily

Interra Realty Brokers $6M Sale of Apartment Building in Chicago’s West Rogers Park

by Kristin Harlow August 18, 2026

CHICAGO — Interra Realty has brokered the $6 million sale of 6500 N. Claremont Ave., a 32-unit apartment building in Chicago’s West Rogers Park neighborhood. Joe Smazal and Mark Dykstra of Interra represented the buyer, Claremont JV LLC, led by Ron Abrams of Silver Property Group. Smazal and Dykstra also represented the seller, a local private investor. The deal represented the highest multifamily sales price in West Rogers Park in the past three years, according to CoStar data. Originally constructed in 1929 and last renovated approximately 15 years ago, the building includes four one-bedroom and 28 two-bedroom layouts.

August 18, 2026

Development Illinois Industrial Midwest

Associated Bank Provides $16.3M Loan for Construction of Warehouse in Metro Chicago

by Kristin Harlow August 17, 2026

DOWNERS GROVE, ILL. — Associated Bank has provided a $16.3 million loan to a fund managed by High Street Logistics Properties LLC for the construction of a Class A warehouse at 3900 Finley Road in Downers Grove. The 123,927-square-foot project will feature 20 dock doors, two drive-in doors and 147 car parking spaces. The nearly 9-acre property between Butterfield and Ogden Avenues was formerly vacant. Construction is slated to commence this month with completion anticipated in June 2027. Krista Casper of Associated Bank managed the loan arrangements and closing.

August 17, 2026

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