Tuesday, August 4, 2026
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FirstMidwestBank
IllinoisMidwestOffice

The Boulder Group Arranges $4M Sale of Ground-Lease in Chicago

by Danielle Everson

CHICAGO — The Boulder Group has arranged the $4 million sale of a single-tenant, First Midwest Bank ground-lease in Chicago. The property is located at 3220 W. 26th St. The building was originally built in 1984 and was renovated in 2007. Randy Blankstein and Jimmy Goodman of The Boulder Group represented the buyer, a Chicago-based investor who purchased the property in a 1031 exchange. A West Coast-based real estate fund sold the property. There are more than 13 years remaining on the First Midwest Bank ground lease, which expires July 1, 2028. First Midwest Bancorp is a publicly traded company with a market capitalization in excess of $1.3 billion.

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IndianaIndustrialMidwest

McNamara Florist to Move Corporate Headquarters to Indianapolis

by Danielle Everson

INDIANAPOLIS — McNamara Florist has acquired a 176,000-square-foot industrial property in Indianapolis for an undisclosed sales price. The property is located on 7.3 acres at 1853 Ludlow Ave. The site of the florist’s new corporate headquarters will undergo extensive renovations. Occupancy is expected in the first half of 2016. The company headquarters currently occupies 58,000 square feet of leased space in Fishers, Ind. McNamara currently employs 120 people and the company will be relocating 70 of those positions to this facility. Bill French and Grant Lindley of DTZ represented McNamara in the property transaction. First Internet Bank provided financing for the acquisition and construction and Premier Capital Corp. provided a SBA 504 loan. April Hensley of Leech Hensley Architects will be the principal architect and Kort Builders will serve as the general contractor. McNamara also received a LISC façade improvement grant, which will be used to improve the exterior appearance of the building.

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The-Harold-E.-Eisenberg-Foundation
IllinoisMidwest

The Harold E. Eisenberg Foundation to Host Midwest Real Estate Challenge in Chicago

by Danielle Everson

CHICAGO — The Harold E. Eisenberg Foundation will host its fifth annual Midwest Real Estate Challenge at the Standard Club of Chicago from 12:30 p.m. to 7 p.m. on Saturday, April 11. Students from DePaul University, University of Illinois at Urbana-Champaign, Roosevelt University, University of Illinois at Chicago and Marquette University will be competing against each other through a live presentation and written report focusing on the “Cap the Kennedy” Project. The project, over the Kennedy Expressway (I-90/94) between Lake Street and Jackson Boulevard, has been proposed by Fifield Cos. in an effort to establish a more functional connection from Chicago’s West Loop neighborhood to the downtown Loop/Central Business District. The five student teams will act as individual development companies responding to a request for proposal from Fifield to joint venture and execute the proposed project. A panel of judges will review all of the presentations and then award the team with the best overall plan. The winning team’s university will be awarded with a $5,000 scholarship, sponsored by Fifield, as well as a trophy. In addition, the winning team will be acknowledged at the Harold E. Eisenberg Foundation’s Annual Dinner in October.

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IndustrialMichiganMidwest

Signature Associates Arranges 204,012 SF Lease of Industrial in Muskegon, Mich.

by Danielle Everson

MUSKEGON, MICH. — Signature Associates, an independently owned and operated member of the Cushman & Wakefield Alliance, has arranged the lease of 204,012 square feet of industrial space in Muskegon. The property is located at 1450 E. Laketon Ave. Bryan Bench of Cushman & Wakefield | Signature Associates represented the tenant, Intracity Dispatch Inc.

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IndianaIndustrialMidwest

Meritex Acquires 248,358 SF Industrial Building in Plainfield, Ind.

by Danielle Everson

PLAINFIELD, IND. — Meritex has acquired the MetroAir Building #3, a 248,358-square-foot, Class A industrial facility located at 758 Columbia Road in Plainfield. The property, part of the MetroAir Business Park, is fully occupied and features an ESFR sprinkler system and a 28-foot ceiling height. The property also has access to I-70, I-74 and I-65. This acquisition expands Meritex’s Indianapolis portfolio to more than 1 million square feet. Meritex will directly manage the MetroAir property along with its other holdings in Indianapolis.

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IllinoisMidwestMultifamilyRetail

Mid-America Real Estate Brokers $3.7M Sale of Property in Chicago

by Danielle Everson

CHICAGO — Mid-America Real Estate Corp. has brokered the sale of a former funeral home in the Lakeview neighborhood of Chicago. Stonestreet Partners LLC purchased the 12,500-square-foot building and 0.33 acres of land. The subject property is located at the northeast corner of Lincoln, Southport, and Wellington avenues. Stonestreet plans to redevelop the former funeral home into a space that will include retail and residential property. Paul Bryant and Andrew Becker of Mid-America represented the seller, a private family and land trust. Kevin Boyd of SRS Real Estate represented the buyer.

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Corners-of-Brookfield-Rendering
MidwestMixed-UseRetailWisconsin

Land Assembly Work Complete for Mixed-Use Development in Brookfield, Wis.

by Danielle Everson

BROOKFIELD, WIS. — Land assembly at The Corners of Brookfield mixed-use development in Brookfield is now complete. Brookfield Corners LLC, a joint venture between IM Properties, Bradford Real Estate and The Marcus Corporation, is developing the $200 million project. The development, which is bordered by West Bluemound Road, North Barker Road and I-94 in Brookfield, will serve as a destination for luxury shopping, dining and entertainment. Plans call for 400,000 square feet of retail and restaurant space anchored by Wisconsin’s first ever Von Maur Department Store, as well as 235 luxury apartments that will be managed by Milwaukee-based Mandel Group. With the entire 19-acre site now under ownership of Brookfield Corners LLC, the project will move toward a groundbreaking, which is set for mid-April. Demolition of the former Menards buildings and the former Marcus Theater is complete, with demolition of the adjoining strip mall also near completion.

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LoansMichiganMidwestMultifamily

Cohen Financial Arranges $10.3M in Loans for Two Apartment Properties in Grand Rapids, Mich.

by Danielle Everson

GRAND RAPIDS, MICH. — Cohen Financial has arranged $10.3 million in loans through Pillar’s lending program for the acquisition of two Grand Rapids multifamily properties. Cathy Bronkema of Cohen Financial secured an $8.2 million HUD 223(f) loan for the acquisition of Richmond Hills Apartments, a 222-unit property. Bronkema also secured a $2.16 million Fannie Mae loan for the acquisition of Eagle Nest Apartments, a 48-unit property. The borrower is Trillium Ventures MSV, a Grand Rapids-based multifamily owner/operator.

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DecaturShoppingCenter
IllinoisMidwestRetail

Block & Co. Brokers $4.6M Sale of 45,114SF Shopping Center in Decatur, Ill.

by Danielle Everson

DECATUR, ILL. — Block & Co. has brokered the $4.6 million sale of a 45,114-square-foot retail strip center in Decatur. The property is located at 4202-4298 N. Prospect at the southeast corner of I-72 and 51 Highway. A Walmart Supercenter and Sam’s Club anchor the center. Other tenants at the center include Jo-Ann Fabric and Craft, RadioShack and Sally Beauty Supply. David Block and Max DiCarlo of Block & Co. represented the sellers, Bloomfield 2005 LLC and Metcalf Arlington SPE LLC.

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IllinoisMidwestRestaurantRetail

@properties Commercial Arranges Lease for Gyu-Kaku Restaurant in Chicago

by Danielle Everson

CHICAGO — Tokyo-based restaurant chain Gyu-Kaku will open its second Chicago location after signing a 10-year lease for 2,800 square feet at 1364 W. Randolph St. in the West Loop. Lee Ffrench of @properties Commercial represented Gyu-Kaku in the transaction. Elan Rasansky of RKF represented the landlord, Harrison Jones. The Japanese barbecue restaurant has more than 700 locations worldwide, including more than two-dozen in North America. In 2011, the company opened its first Chicago location at 210 E. Ohio St., just off the Magnificent Mile. Gyu Kaku’s new location is at the northeast corner of Randolph and Ada Streets, in an area of the West Loop known as Restaurant Row.

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