Illinois

CHICAGO — Interra Realty has brokered the $5.9 million sale of 6642-6652 N. Clark St., a 42-unit apartment and retail building in Chicago’s Rogers Park neighborhood. The sale also included an adjacent parking lot at 6654 N. Clark St. Brad Feldman of Interra represented the buyer, Imran Khan, and the seller, George Triff. The property, which was fully occupied at the time of sale, features six studios, 28 one-bedroom units, two two-bedroom apartments and six retail units. Constructed in 1928, the three-story building presents a value-add opportunity for the buyer, who plans to renovate units, upgrade building systems and reconfigure some apartments to add bedrooms.

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CHICAGO — Chicago Fire FC has released renderings and further details for its $650 million soccer-specific stadium in downtown Chicago. The development, announced earlier this month, will be privately financed by the club’s owner and chairman, Joe Mansueto. The stadium will anchor The 78, Related Midwest’s 62-acre project located along the Chicago River just south of Roosevelt Road. Designed by Gensler in “Chicago School” fashion, the new stadium will seat approximately 22,000 fans. The bowl is designed to prioritize the match viewing experience with seating positions that are lower and closer to the action. There will be 50 suites, more than 500 Loge seats and 3,500 Club seats. An exposed steel canopy over the seating bowl will direct light and crowd noise back to the pitch, creating an environment that enhances the Fire’s home-field advantage. A dedicated supporter section will be built at the core of the stadium for the most passionate fans. The section is purpose-built to be loud with room for approximately 2,000 fans on safe-standing bleachers. In addition to Fire matches, the stadium can host a variety of other sports and entertainment events such as international soccer matches, rugby matches, concerts, festivals, live performances, charity events, trade …

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CHICAGO — Kiser Group has arranged the $5.9 million sale of a 42-unit multifamily property in Chicago’s Morgan Park neighborhood. The sales price of $140,000 per unit represents the highest price-per-unit ever recorded in the area, according to Kiser. The building includes four commercial spaces and 38 large apartment units, all of which are two- or three-bedroom layouts. The asset was fully leased at the time of sale and has been self-managed by the owner. Craig Robinson was the buyer.

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PINGREE GROVE, ILL. — Freight Union Inc. will build a 61,858-square-foot maintenance facility with 30 repair bays, two docks and 238 trailer positions in Pingree Grove, a far northwest suburb of Chicago. Cory Kay and Mike DeSerto of Entre Commercial Realty represented Freight Union in the transaction, which marks the second build-to-suit project the Entre team has completed for the tenant. Freight Union built its first facility in Hampshire, Ill., in 2023. The project in Pingree Grove will serve as Freight Union’s new corporate headquarters. Entre procured the development by assembling 11 acres in four separate transactions and obtaining use approval for transportation, truck maintenance and trailer parking.

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CHICAGO — Friedman Properties has completed renovations at the Reid Murdoch Building in Chicago’s River North neighborhood. The improvements included the construction of a 5,600-square-foot amenity suite with a new lounge and fitness center. Housed on the fourth floor, the lounge features a café with complimentary coffee drinks, an audiovisual system, refrigeration and warming drawers for larger events and multiple seating configurations to accommodate individuals or small groups. Two conference rooms are available with video conferencing technology. Other features include high-speed internet and a mural by artist Kate Lewis. The fitness center includes cardio equipment with integrated video content and streaming, Peloton bikes and free weights. Tenants have access to locker rooms with showers and towel service as well as a personal trainer. A first phase of renovations completed earlier this year included a 5,388-square-foot speculative office suite on the third floor that includes a lounge and collaboration space, two conference rooms, three private offices, 29 flexible workstations and an open kitchen. The lobby was also renovated. Originally constructed in 1914, the Reid Murdoch Building long served as the office, warehouse and manufacturing facilities for Reid, Murdoch & Co., one of the country’s largest wholesale grocers. The building hosted traffic …

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LISLE, ILL. — Greenstone Partners has brokered the $5.4 million sale of 2375 Cabot Drive, a 37,000-square-foot life sciences building in the Chicago suburb of Lisle. The headquarters property is fully leased to the Water Quality Association (WQA), a nonprofit trade organization that serves the residential, commercial and industrial water treatment industry. WQA signed a 12.5-year lease in 2020 that features annual rent escalations between 3 and 4.5 percent. Both the tenant and the landlord collectively invested more than $5 million into the property. Jason St. John of Greenstone represented the seller, a Chicago-based developer and owner, and procured the buyer, an out-of-state private investor.

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CHICAGO — Lument has provided $90.6 million in Fannie Mae DUS loans for the refinancing of four multifamily communities totaling 654 units in Chicago. The loans replace existing life company debt for the borrower, BJB Properties, a Chicago-based operator. Evan Hom of Lument originated the loans, which feature fixed interest rates, seven-year terms and 35-year amortizations. In addition to providing permanent financing, the loans provide cash-out proceeds for the borrower. According to Lument, 96 percent of the portfolio is housing that is accessible and affordable. The assets are all located in the Lakeview neighborhood and include 424 W. Diversey, 451 Wrightwood, 443 Wrightwood and 517 Oakdale. All of the properties were built in the late 1920s.

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NORTH AURORA, ILL. — Colliers has brokered the sale of Park 88 Logistics Center, a two-building industrial development totaling 429,623 square feet in North Aurora. Completed in 2024, the fully leased property is home to three tenants with a weighted lease term of 6.3 years. Park 88 Logistics Center is situated near the full four-way interchange at I-88 and Route 31. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, TradeLane. Ares Management was the buyer.

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CHICAGO — Canyon Partners Real Estate has provided a $47 million senior loan for the refinancing of American House Oak Park, a 174-unit seniors housing community in the Oak Park neighborhood of Chicago. A joint venture between affiliates of AEW Capital Management and REDICO was the borrower. The property comprises 74 independent living, 65 assisted living and 35 memory care units. Amenities at the community include a rooftop lounge, roof terraces, fitness options, a salon, game room, art studio and theater. Newmark facilitated the financing.

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Trulee-Evanston-Illinois

EVANSTON, ILL. — PGIM Real Estate has provided $50 million in floating-rate financing for Trulee Evanston, a 160-unit senior living community located in Evanston, roughly 13 miles north of downtown Chicago. Trace Wilson of PGIM Real Estate led financing efforts on behalf of the borrowers, AEW Capital Management and Solera Senior Living. The nine-story complex features contemporary architecture, technology and a variety of outdoor spaces, as well as independent living, assisted living and memory care services. Amenities at Trulee Evanston include an outdoor deck, bar, fire pit, hair salon and a fitness center.

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