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Interra Realty Negotiates $11.7M Sale of Chicago Apartment Building

Kristin Harlow — Fri, 27 Feb 2026 13:49:49 +0000

CHICAGO — Interra Realty has negotiated the $11.7 million sale of a 46-unit apartment building located at 4400 S. Drexel Blvd. in Chicago’s Kenwood neighborhood. Lucas Fryman of Interra represented the buyer and seller, whom Interra represented during the initial 2020 acquisition. The property was 91 percent occupied at the time of sale, and every resident holds a Housing Choice Voucher administered through the Chicago Housing Authority. Built in 1924, the courtyard-style building features predominantly two-bedroom units. Recent renovations reconfigured floor plans to maximize livable square footage without increasing unit count. Residences also received upgraded finishes, individual HVAC systems, dishwashers and in-unit laundry.

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SVN Chicago Commercial Brokers $9M Sale of Shopping Center in Hoffman Estates, Illinois

Kristin Harlow — Fri, 27 Feb 2026 13:48:51 +0000

HOFFMAN ESTATES, ILL. — SVN Chicago Commercial has brokered the $9 million sale of Barrington Square Town Center, a 101,769-square-foot shopping center situated on 11 acres in Hoffman Estates. The transaction marks the first time the property has traded hands since 1979. Wayne Caplan and Al Lindeman of SVN Chicago represented the Dutch-based ownership group, Depa Holding Co., along with its U.S. partner, Caruso Development Corp. Harris Ali of Sky High Real Estate represented the buyer, a local investment group. The center on West Higgins Road is adjacent to a 7.2-acre site slated to be developed as Grand Reserve of Hoffman Estates, a 330-unit luxury apartment development. The property is nearly fully leased and traded at a cap rate of 9 percent.

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CRG Sells 66,552 SF Industrial Building in Franklin Park, Illinois

Kristin Harlow — Thu, 26 Feb 2026 14:08:27 +0000

FRANKLIN PARK, ILL. — CRG has sold The Cubes at ORD, a newly constructed industrial building totaling 66,552 square feet in Franklin Park, located immediately southeast of the Chicago O’Hare International Airport. Developed on a speculative basis in 2025, the facility is fully leased to Worldwide Flight Services. The infill development offers direct access to I-294 and features 20 exterior dock doors, two drive-in doors, 11 trailer storage spaces and parking for 70 vehicles. Erik Foster, Mike Wilson, Brian Colson and Brian Pomorski of Avison Young represented CRG in the transaction. Matt Mulvihill of CBRE represented the tenant. The buyer and sales price were undisclosed. CRG integrated partner LJC designed The Cubes at ORD, while parent company Clayco served as general contractor.

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Greenstone Parters Brokers $5.6M Sale of Retail Property in Chicago’s Wicker Park

Kristin Harlow — Thu, 26 Feb 2026 14:07:51 +0000

CHICAGO — Greenstone Partners has brokered the $5.6 million sale of a retail and medical property located at 1455 N. Milwaukee Ave. in Chicago’s Wicker Park neighborhood. The urban infill asset sold for 98 percent of the list price to a New York-based buyer. The two-story property features 11,370 rentable square feet, roughly 125 feet of frontage along North Milwaukee Avenue and a private surface parking lot with 23 dedicated spaces. Barry’s Bootcamp occupies the ground floor. The upper level is leased to medical services provider Kindbody, formerly Vios Fertility Institute. Danny Spitz and Brewster Hague of Greenstone represented the seller, a Chicago-based investment and development company, and procured the buyer.

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Espiritu to Open 10,000 SF Restaurant at One East Wacker Office Building in Chicago

Kristin Harlow — Wed, 25 Feb 2026 14:51:23 +0000

CHICAGO — Fine dining restaurant and bar concept Espiritu has signed a lease to open a roughly 10,000-square-foot ground-floor space at One East Wacker, a Chicago office building owned by AmTrustRE. Espiritu comes from the restaurateurs behind Chicago Cut Steakhouse and Cerdito Muerto, Matt Moore and Emidio Oceguera. The dining concept blends classic Chicago dishes with a modern Mexican flair. In addition to 10,000 square feet of indoor space, the restaurant will include 2,200 square feet of adjoining outdoor patio area along Wacker Drive. Dana Moyles of Dana Moyles Real Estate Services represented Espiritu in the lease, while John Vance and Will Winter of Stone Real Estate represented the landlord. AmTrustRE has also secured three new office leases at the property, including Flight Centre Travel Group (USA) Inc., the Trade Commission of Spain in Chicago and the Consulate General of Bosnia and Herzegovina in Chicago. Signed to 7,216 square feet of office space on the 13th floor, Flight Centre Travel Group is one of the world’s largest global travel agencies. JLL’s Sarah Silva and Bess Cooney represented the tenant. The Trade Commission Office of Spain, of the Government of the Kingdom of Spain, will occupy 4,326 square feet on the…

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

Kristin Harlow — Tue, 24 Feb 2026 14:21:08 +0000

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

Kristin Harlow — Tue, 24 Feb 2026 14:20:23 +0000

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

Kristin Harlow — Mon, 23 Feb 2026 15:38:06 +0000

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

Kristin Harlow — Fri, 20 Feb 2026 14:03:00 +0000

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

Kristin Harlow — Fri, 20 Feb 2026 14:02:00 +0000

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

Kristin Harlow — Thu, 19 Feb 2026 13:57:16 +0000

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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Greenstone Partners Brokers $3.1M Sale of Chicago Apartment Building

Kristin Harlow — Wed, 18 Feb 2026 14:24:03 +0000

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

Kristin Harlow — Wed, 18 Feb 2026 14:23:27 +0000

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

Kristin Harlow — Tue, 17 Feb 2026 13:52:16 +0000

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

Kristin Harlow — Tue, 17 Feb 2026 13:51:36 +0000

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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Interra Realty Brokers $14M Sale of Chicago Apartment Building

Kristin Harlow — Mon, 16 Feb 2026 14:42:24 +0000

CHICAGO — Interra Realty has brokered the $14 million sale of a 50-unit apartment building in Chicago’s Lakeview neighborhood. Joe Smazal of Interra represented the buyer, JAB Real Estate, and the confidential seller. The transaction marks the first time the asset has traded hands in 20 years. Built in 1927, the courtyard building features 13 studio, 24 one-bedroom, one three-bedroom and six four-bedroom floor plans. Recent renovations to some units include hardwood flooring, updated bathrooms and new kitchens. Residents have access to an onsite fitness center.

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Brennan Investment Group to Build 140,340 SF Food Processing Facility for Tovala in Winfield, Illinois

Kristin Harlow — Fri, 13 Feb 2026 14:14:57 +0000

WINFIELD, ILL. — Brennan Investment Group has signed a long-term lease with Tovala for a new 140,340-square-foot food processing facility in Winfield. Construction on the build-to-suit project is scheduled to commence in March. Completion is slated for the second quarter of 2027. The project represents Brennan’s fourth build-to-suit development in the food service sector. Founded in 2015, Tovala is a meal delivery service. Tod Greenwood, Jack Brennan and Larry DiVito represented Brennan on an internal basis. Jonathan Kohn of Colliers represented Tovala.

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Greystone Provides Financing for $110M Multifamily Acquisition in Suburban Chicago

Kristin Harlow — Thu, 12 Feb 2026 14:01:53 +0000

CREST HILL, ILL. — Greystone has provided an $89.2 million first loan and a $5.6 million second loan to finance the acquisition of Woodlands of Crest Hill, a 730-unit multifamily property in Crest Hill. Eric Rosenstock of Greystone originated the loan on behalf of the buyer, Bayshore Properties. The financing includes an $89.2 million nonrecourse, fixed-rate Fannie Mae loan with a 10-year term and 30-year amortization as well as five years of interest-only payments. The second is a nonrecourse, fixed-rate DUS Lender Affiliate mezzanine loan with a 10-year term and full-term interest-only payments. Built in 1969, the property features studio, one- and two-bedroom units along with a clubhouse, fitness center, business center, pool and outdoor volleyball courts. The sales price is about 16 percent more than what Osso Capital paid for the complex in 2023, according to Crain’s Chicago Business.

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Matterhorn Venture Partners, TPG Acquire Two Chicagoland Industrial Buildings

Kristin Harlow — Thu, 12 Feb 2026 13:58:20 +0000

CHICAGO — Matterhorn Venture Partners (MVP) has formed a joint venture with TPG Angelo Gordon U.S. Real Estate to acquire a portfolio of industrial value-add assets in metro Chicago and surrounding Midwest markets over the next four years. The joint venture has an initial equity commitment of $300 million to deploy across industrial acquisitions in Chicago and surrounding target markets, with total buying power of over $900 million. As part of the new venture, the firms recently acquired two vacant industrial assets totaling $30 million in capitalized value. The first building totals 184,902 square feet in Elk Grove Village, while the second spans 47,175 square feet in Lombard. Brian Colson of Avison Young is handling leasing for the Elk Grove Village property, while Joe Karmin of Transwestern is the leasing agent for the Lombard facility.

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Carr Workplaces Opens New Coworking Space in Downtown Chicago

Kristin Harlow — Wed, 11 Feb 2026 14:11:39 +0000

CHICAGO — Carr Workplaces, a provider of flexible office solutions, has opened Carr Workplaces – The Loop at 20 North Clark Street in downtown Chicago. Located within walking distance of City Hall, government administration buildings, courthouses and public transportation, the workspace offers private offices, dedicated workstations, four meeting rooms, phone rooms and rentable lockers. Members also enjoy access to in-building amenities such as a fitness center, conference center, lounge and 24/7 building security.

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