Saturday, October 25, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Illinois

AcquisitionsIllinoisIndustrialMidwest

Colliers Brokers Sale-Leaseback of Three Industrial Facilities Totaling 496,744 SF

by Kristin Harlow

ELK GROVE VILLAGE AND NILES, ILL. — Colliers International Chicago has brokered the sale-leaseback of three industrial facilities totaling 496,744 square feet for an undisclosed price. GHP Group Inc. sold the properties to W. P. Carey. The portfolio includes a 225,006-square-foot facility at 1501 Nicholas Blvd. in Elk Grove Village and a 161,770-square-foot property at 6440 W. Howard St. in Niles. Additionally, the portfolio includes a 109,968-square-foot building in Guelph, Ontario near Toronto. Jeff Devine, Steve Disse, Brendan Green and Ron Jansen of Colliers represented Niles-based GHP Group, which is a manufacturer of seasonal products such as barbecues, heaters, fireplaces, water dispensers and filtration products.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamilySingle-Family Rental

Blackstone to Acquire Home Partners of America for $6B

by Kristin Harlow

CHICAGO — Blackstone Real Estate Income Trust Inc. (BREIT) has entered into a definitive agreement to acquire Chicago-based Home Partners of America (HPA), valuing the company at $6 billion. HPA purchases, owns and operates single-family rental homes and provides a path to homeownership for individuals and families across the United States. HPA’s portfolio includes more than 17,000 homes across the country. BREIT intends to support the HPA management team as it explores opportunities to expand access to high-quality housing for lower-income households, including by formally launching its Choice Lease program. This program aims to provide a direct and tangible opportunity to help address housing affordability challenges for families, according to Blackstone. “The fundamental premise of the HPA platform is to provide residents with the opportunity to live in their chosen home with the option to purchase it,” says Jacob Werner, senior managing director with Blackstone Real Estate. “We intend to build on that goal and expand access to homes across the United States.” The transaction is expected to close in the third quarter. BREIT is externally managed by a subsidiary of Blackstone (NYSE: BX), which maintains approximately $196 billion in investor capital under management.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $36.2M Sale of Shopping Center in Evanston, Illinois

by Kristin Harlow

EVANSTON, ILL. — Marcus & Millichap has brokered the sale of Evanston Plaza in Evanston for $36.2 million. The 212,759-square-foot shopping center is located at 1910 Dempster St. Valli Fresh Market anchors the center and occupies 69,210 square feet. Renovated in 2015, the property was 97 percent leased at the time of sale. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap marketed the center on behalf of the seller, a private investor. The team also secured and represented the buyer, a limited liability company.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestMultifamily

Kinzie Builders Completes Construction of $15M Luxury Apartment Building in Glen Ellyn, Illinois

by Kristin Harlow

GLEN ELLYN, ILL. — Kinzie Builders has completed construction of Avere on Duane, a $15 million luxury apartment building in the Chicago suburb of Glen Ellyn. Located on Duane Street, the property rises four stories with 48 units. Units range from 868 to 1,615 square feet. Amenities include a community room, dog washing station, package room, bike storage and heated parking. REVA Development Partners was the developer. The project team included BSB Design Inc., RTM & Associates Engineering Consultants, LETech Inc., Pierce Engineering, Loren Stanton Design, Haeger Engineering and Lakota Group. Monthly rents start at $1,975.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLoansMidwestRetail

Associated Bank Provides $26.7M Loan for Acquisition, Revitalization of Shopping Center in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Associated Bank has provided a $26.7 million loan for the acquisition and revitalization of Market Meadows Shopping Center in Naperville. The 148,700-square-foot retail center is located at 1201 S. Naper Blvd. Existing tenants include Jewel, US Bank, McDonald’s and T-Mobile. The borrower, Shorewood Development Group, plans to build a new three-tenant, 6,855-square-foot property on an outparcel at the northwest corner of 75th Street and Naper Boulevard as well as a Lock-Up self-storage facility. Chipotle, BMO, Jersey Mike’s, Big Blue Swim School and Delta Life Fitness have already signed new leases to occupy the center upon completion of the redevelopment project. Daniel Barrins of Associated Bank handled the loan arrangements and closing. This is the 11th loan that Associated Bank has provided on behalf of Shorewood.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisIndustrialLeasing ActivityMidwest

American Bear Logistics Signs 57,143 SF Industrial Lease in Itasca, Illinois

by Kristin Harlow

ITASCA, ILL. — American Bear Logistics has signed a 57,143-square-foot industrial lease at 1475 Thorndale Ave. in Itasca. The building features 8,838 square feet of office space, 26 docks, one drive-in doors, 24 trailer stalls and a clear height of 28 feet. Nick Krejci of Darwin Realty/CORFAC International represented the tenant in the lease transaction. American Bear Logistics, an ocean freight transportation company, was seeking a larger warehouse near O’Hare International Airport to support growing demand from its customers, according to Darwin.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

NewMark Merrill Acquires 292,309 SF Bricktown Square Retail Center in Chicago

by Kristin Harlow

CHICAGO — NewMark Merrill Cos. Inc., a shopping center owner based in Woodland Hills, Calif., has acquired Bricktown Square in Chicago for an undisclosed price. The 292,309-square-foot retail center is home to Ross Dress for Less, Harbor Freight Tools, Aldi, XSport Fitness, DD’s Discounts and Farmer’s Best Fresh Market. NewMark Merrill plans to enhance the asset with investments in deferred maintenance and updates such as new signage. Bonnie Investment Group was the seller. ReCap, the real estate subsidiary of RGA Real Insurance Group of America, provided acquisition financing. Sandy Sigal, Jim Patton, Brad Pearl, Sandra Kist and Susan Rorison represented NewMark Merrill on an internal basis. NewMark Merrill currently owns and operates three other retail properties in the Chicagoland area, including Stony Island Plaza in Chicago, Stratford Crossing in Bloomingdale and Winston Plaza in Melrose Park.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestMultifamily

Interforum Holdings Completes 364-Unit Luxury Apartment Complex in Warrenville, Illinois

by Kristin Harlow

WARRENVILLE, ILL. — Northfield, Ill.-based Interforum Holdings has completed development of Arden of Warrenville, a 364-unit luxury apartment complex in Warrenville, a western suburb of Chicago. The project is situated within the larger Cantera community. Units are available in one- to four-bedroom layouts ranging from 833 to 1,201 square feet. Amenities include a fitness center, yoga room, business center, resident lounge, sauna, business center, library room, pool, rooftop terrace, dog park, outdoor courtyards, indoor parking and spa services. The project team included general contractor McShane Construction and architect Baranyk Associates. CIBC Bank, Inland Bank, Associated Bank, Great Southern Bank and Arbor Multifamily Lending provided financing for the project. Monthly rents start at $1,713. Residents can now receive up to two months of free rent.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingIllinoisLoansMidwestMultifamily

KeyBank Provides $22.6M Bridge Loan for Two Affordable Housing Properties in Chicago

by Kristin Harlow

CHICAGO — KeyBank Community Development Lending and Investment (CDLI) has provided a $22.6 million bridge loan on behalf of Evergreen Real Estate Group. The loan will be utilized to acquire and preserve two contiguous affordable housing properties totaling 217 units in Chicago. All but two of the units operate with a Housing Assistance Payment contract. The transaction is part of a larger acquisition of six properties in Chicago that were built between 1920 and 1948. David Lacki and Alton Tinker of KeyBank’s CDLI team structured the 18-month loan.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts