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AcquisitionsIllinoisMidwestMultifamily

Marcus & Millichap Arranges Sale of 226-Unit Carriage Creek Apartments in Metro Chicago

by Kristin Harlow

RICHTON PARK, ILL. — Marcus & Millichap has arranged the sale of Carriage Creek Apartments, a 226-unit multifamily property in the southern Chicago suburb of Richton Park. Ryan Engle and Andrean Angelov of Marcus & Millichap represented the buyer and seller, both of which were private investors. Located at 22501 Butterfield Road, the property comprises 190,328 rentable square feet across nearly 26 acres. Built in two phases in 1972 and 1974, the community features a mix of studio, one- and two-bedroom units. The asset is within walking distance of the Richton Park Metra Station.

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DevelopmentHealthcareIllinoisMidwest

Ware Malcomb Completes Design of 3,500 SF Outpatient Office for Romeo Orthopaedics in Suburban Chicago

by Kristin Harlow

BURR RIDGE, ILL. — Ware Malcomb has completed the interior architecture and design, along with branding services, for the 3,500-square-foot outpatient office for Romeo Orthopaedics in Burr Ridge. Romeo Orthopaedics specializes in the management and surgical treatment of shoulder, elbow and sports medicine conditions. Ware Malcomb worked in partnership with the building owner, C.R. Panico & Associates, to complete the project. The project scope of work encompassed minor demolition, new walls and doors, power and data installation, updated ceilings and lighting, finishes and custom millwork. A dedicated X-ray suite required close coordination with specialty consultants to address equipment clearances, shielding requirements and infrastructure integration, ensuring compliance with clinical and safety standards. Morgan/Harbour Construction was the general contractor.

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DevelopmentIllinoisIndustrialMidwest

Graycor, Helmkamp Top Off $500M Industrial Expansion Project for Wieland Near St. Louis

by Kristin Harlow

EAST ALTON, ILL. — Graycor Construction Co. and Helmkamp Construction Co. have topped off the EA2030 structure, marking the culmination of the first stage in the $500 modernization and expansion of Wieland’s facility in East Alton near St. Louis. Wieland is a supplier of copper and copper alloy solutions. The multi-phase project began in June 2024. Design partners include Vestal Corp. and Salas O’Brien. The topping off marks the completion of structural steel for EA2030, the new hot rolling facility. The building will house a hot mill line, milling line, cold rolling mill, high-bay storage with automated material handling and overhead cranes, ultimately replacing the site’s original 100-year-old hot rolling facility. Merrill Steel and the United Iron Workers assisted in achieving the milestone. Work continues on the next phase of the project, which focuses on process and equipment.

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AcquisitionsIllinoisMidwestMultifamily

ARTISAN Capital Group Buys 200-Unit Apartment Community in Palatine, Illinois

by Kristin Harlow

PALATINE, ILL. — ARTISAN Capital Group (ACG) has acquired Arrowhead Apartments, a 200-unit, garden-style apartment community in Palatine, a northwest suburb of Chicago. ACG partnered with Eastham Capital on the transaction, marking the firms’ fifth acquisition together. The investment marks ACG’s second acquisition in the Chicago market. Arrowhead Apartments consists of nine two- and three-story buildings with 102 one-bedroom units, 78 two-bedroom units and 20 three-bedroom residences. Amenities include a clubhouse, fitness center and dog park. ACG plans to increase value through operational efficiencies and professional investment oversight. ARTISAN Management Group, ACG’s management vertical, will oversee operations. ACG secured financing through HUD. Scott Harris of Marcus & Millichap represented the seller, a joint venture with Hispanic Housing Development Corp. as the managing partner, and procured the buyer. Forty of the units have a Housing Assistance Payments contract that runs through 2039, according to Harris.

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DevelopmentIllinoisIndustrialMidwest

Logistics Property Co. to Build 443,160 SF Industrial Property in Schaumburg, Illinois

by Kristin Harlow

SCHAUMBURG, ILL. — Logistics Property Co. LLC (LogiPropCo) has purchased a 22-acre site in Schaumburg for the development of 390 O’Hare Logistics Park, a 443,160-square-foot industrial property across two buildings. Construction is expected to begin in July. Each 221,580-square-foot building will feature a clear height of 36 feet, 33 docks and parking for 140 cars. The site is within walking distance of the Schaumburg Metra stop and adjacent to a private lot with trailer parking for lease. The location offers immediate access to Route 390 and proximity to the Chicago O’Hare International Airport. Ben Fish and Vince Pergande of LogiPropCo worked with David Haigh and Nick Feczko of NAI Hiffman in sourcing the land. Haigh and Feczko will also serve as the project’s leasing agents. Arete Design Studio is the architect, and Manhard Consulting (Atwell) is the civil engineer. Completion is slated for the third quarter of 2027.

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AcquisitionsIllinoisMidwestRetail

PCCP, Hutensky Capital Partners Buy 690,000 SF Streets of Woodfield Shopping Center in Metro Chicago

by Kristin Harlow

SCHAUMBURG, ILL. — A joint venture between PCCP and Hutensky Capital Partners has acquired Streets of Woodfield, a 690,000-square-foot shopping center at 601 N. Martingale Road in Schaumburg. Blackstone sold the property for $69 million, according to the Daily Herald. Originally built in 1991, the property is currently 94 percent leased to 22 tenants, including Whole Foods Market, Dick’s Sporting Goods House of Sport, AMC, Restoration Hardware Outlet, Legoland and Dave & Buster’s. The property is located along I-290 adjacent to Woodfield Mall.

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DevelopmentIllinoisMidwestOffice

Glenstar Unveils Renderings for $25M Redevelopment of 40-Story Office Tower in Chicago

by Kristin Harlow

CHICAGO — Glenstar, together with a private investor, has unveiled renderings for the $25 million redevelopment of 200 South Wacker, a 40-story office tower in Chicago. A new amenity experience will span five levels of the 761,775-square-foot building. For the first time since the property’s completion, the entire lobby level and amenity spaces will be redeveloped. A new sculptural staircase will connect the lobby to the river level and second floor. Mojo Coffee will get a refreshed design and remain in its current first-floor location. At the river level, a golf club will feature two simulators, a putting green, lounge seating and ample space for entertaining. The riverfront lounge on the lobby level will feature a full-service bar and grand fireplace that opens directly onto a newly expanded patio with a fire pit and seating area. On the second floor, tenants will find a parlor gaming area, enclosed library and listening lounge. The third floor will offer a new health and wellness club overlooking the river, with dedicated areas for free weights, strength and recovery training, cardio and a group fitness studio offering regularly programmed classes. This area will also include locker rooms, cold plunges and infrared saunas. The entire …

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AcquisitionsIllinoisLoansMidwestOffice

Northwind Group Provides $58.5M Acquisition Loan for Chicago Office Building

by Kristin Harlow

CHICAGO — Northwind Group, a Manhattan-based real estate private equity firm and debt fund manager, has provided a $58.5 million first mortgage loan for the acquisition and lease-up of 175 West Jackson Boulevard, a 22-story office building totaling more than 1.4 million square feet in Chicago’s Central Loop. The property also includes a 240-space parking garage. The loan was structured with $33.5 million initial advance at closing, with an additional $25 million reserved as a “good news” facility to fund future accretive leasing costs. A joint venture between 601W Cos. and David Werner Real Estate Investments was the buyer. The financing facilitated the acquisition at a significantly reset basis, reflecting an approximately 85 percent discount to the property’s prior purchase price by Brookfield, according to Northwind. The building has undergone extensive renovations and modernization, with over $24 million of capital improvements completed by prior ownership, including a new amenity center and rooftop space on the 22nd floor.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Arranges Sale of 56,000 SF Industrial Building in Metro Chicago

by Kristin Harlow

ELK GROVE VILLAGE, ILL. — Entre Commercial Realty has arranged the sale of a 56,000-square-foot industrial building in Elk Grove Village. Brad Bullington and Ian Pattison of Entre represented the buyer, a machine shop completing its third acquisition within the O’Hare industrial market. Matthews Real Estate Services represented the undisclosed seller. The property features I-90 frontage, outdoor storage capabilities and also includes future parking lot replacement.

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