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DevelopmentIllinoisMidwestMultifamily

Habitat Opens 33-Story Cassidy on Canal Luxury Apartment Tower in Chicago

by Kristin Harlow

CHICAGO — Habitat has opened Cassidy on Canal, a 33-story luxury apartment tower located at 350 N. Canal St. in Chicago’s Fulton River District. The 343-unit development marks the first Class A rental tower to open in more than 17 years near the west bank of the Chicago River, according to the developer. The first residents have begun moving in. Cassidy on Canal offers a mix of floor plans and penthouse residences along with parking for 123 vehicles and ground-floor retail space. A 10,000-square-foot outdoor deck off the building’s fifth floor offers landscaped grounds, a pool, fire pits, grilling areas, cool weather heaters and dining areas. Inside, residents have access to a fitness center, game room, various clubrooms, a coworking center and spa. An outdoor dog run is scheduled to open in the coming months. Monthly rents range from $2,550 to $5,660. Penthouse Collection units rent for up to $10,810 per month. The project site was formerly home to the Cassidy Tire building, which had stood on the location since 1908. Habitat repurposed 200 bricks from the original property in the outdoor plaza near the new building’s main entrance. Solomon Cordwell Buenz designed the 375-foot glass tower. Diversified Real Estate …

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AcquisitionsBuild-to-RentIndianaMidwestSingle-Family Rental

Hudson Investing, Midloch Acquire Jackson Run Build-to-Rent Community in Suburban Indianapolis

by Kristin Harlow

WHITESTOWN, IND. — Hudson Investing and Midloch Investment Partners have acquired Jackson Run Townhomes, an 84-unit build-to-rent community in the northwest Indianapolis suburb of Whitestown. The purchase price was undisclosed. Completed in 2023, the property features three- and four-bedroom units averaging 1,897 square feet. The two-story townhomes feature two-car garages and ADT home security systems. Hudson is planning several amenity upgrades, including expansion and enhancement of the existing pet park and the addition of an outdoor gas grilling pavilion.

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DevelopmentIndustrialMidwestMinnesota

RL Cold Begins Development of 292,000 SF Cold Storage Facility in Lakeville, Minnesota

by Kristin Harlow

LAKEVILLE, MINN. — RL Cold, a division of RealtyLink LLC, has begun development of a 292,000-square-foot cold storage facility in the Minneapolis suburb of Lakeville. The project team includes general contractor Graycor Construction Co. and architect Ware Malcomb. The development will be situated within the 205-acre Airlake Industrial Park, which is located four miles from I-35 and 20 miles from Minneapolis. The project will feature advanced refrigeration technology, storage capacity for perishable items, a clear height of 50 feet, 70-foot-deep truck dock, up to 34,000 pallet positions, 98 employee parking spots, 61 truck spots and 38 truck dock doors. The project will be U.S. Green Building LEED certified. Completion is slated for spring 2025.

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AcquisitionsMidwestMultifamilySeniors HousingWisconsin

SLIB Arranges Sale of 100-Unit Assisted Living Property in Pleasant Prairie, Wisconsin

by Kristin Harlow

PLEASANT PRAIRIE, WIS. — Senior Living Investment Brokerage (SLIB) has arranged the sale of The Addison of Pleasant Prairie for an undisclosed price. The 100-unit assisted living and memory care community is located in Pleasant Prairie, a village along Lake Michigan and the Illinois border. The seller was an East Coast-based capital firm partnered with a national operator. The buyer was a regional owner-operator that intends to expand the campus with independent living units. Ryan Saul, Jeff Binder and Brad Clousing of SLIB brokered the transaction.

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Affordable HousingDevelopmentMidwestMultifamilySeniors HousingWisconsin

Jewish Family Services to Break Ground on 56-Unit Affordable Seniors Housing Community in Wisconsin

by Kristin Harlow

BROWN DEER, WIS. — Jewish Family Services Inc. is scheduled to break ground on Woodale Crossing on Thursday, May 16. The 56-unit affordable and supportive seniors housing community will be located at 4114 W. Woodale Ave. in Brown Deer, a northern suburb of Milwaukee. Of the total units, 25 percent will be reserved for persons with disabilities who are in need of support services. Residents will have access to onsite supportive services that include socialization and skill-based programming, social services and independent living support services. Jewish Family Services has a subsidiary, JFS Housing Inc., which develops affordable housing.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $3.1M Sale of Caliber Collision-Occupied Property in O’Fallon, Illinois

by Kristin Harlow

O’FALLON, ILL. — Marcus & Millichap has brokered the $3.1 million sale of a retail property net leased to Caliber Collision in O’Fallon, about 20 miles east of St. Louis. The building is located at 1274 Central Park Drive. Dominic Sulo and Andrew Antoniou of Marcus & Millichap represented the buyer and seller, both of which were limited liability companies.

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AcquisitionsIllinoisIndustrialMidwest

Brown Commercial Group Arranges $3.1M Sale of Industrial Flex Building in Suburban Chicago

by Kristin Harlow

CAROL STREAM, ILL. — Brown Commercial Group has arranged the sale of a 42,525-square-foot industrial flex building in the Chicago suburb of Carol Stream for $3.1 million. The fully leased property is located at 135 E. St. Charles Road. Matt Hanson of Brown represented the buyer and seller, both of which were private investors.

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AcquisitionsIllinoisMidwestMultifamily

Interra Realty Negotiates Sales of Two Chicago Multifamily Properties Totaling $2.7M

by Kristin Harlow

CHICAGO — Interra Realty has negotiated the sales of two multifamily properties in Chicago’s Montclare neighborhood for a total of $2.7 million. A nine-unit building at 3145 N. Nordica Ave., constructed in 1965, sold for $1.4 million. A nine-unit property at 3037-39 N. Harlem Ave., built in 1974, sold for $1.3 million. The Nordica asset closed at full price and marked the highest price per unit for vintage apartment buildings in the Montclare neighborhood in the last nine years, according to CoStar. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the seller, a local partnership that had owned the properties for decades. The trio procured the buyer of the Harlem property, a local investor. Beco Kalamperovic of Dream Town Real Estate represented the undisclosed buyer of 3145 N. Nordica. The new owners plan to renovate units as tenants move out.

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IndustrialLoansMidwestMinnesota

CBRE Arranges $100M Recapitalization for 36-Property Industrial Service Facility Portfolio Across 20 States

by Kristin Harlow

MINNESOTA — CBRE has arranged a $100 million recapitalization of a 36-property industrial service facility portfolio on behalf of a joint venture between Wayzata, Minn.-based Moir Park Capital and Eden Prairie, Minn.-based Hempel Real Estate. Industrial service facilities provide an outdoor storage component coupled with zoning that allows for a wide range of industrial uses. The portfolio encompasses nearly 630,000 square feet across 201 acres in 20 states. All of the properties are fully occupied by eight tenants, including United Rentals, Gerber Collision & Glass, Kaige Kubota, Caliber Collision, Sunbelt Rentals, Home Depot, Cummins and H&E Equipment Services. Judd Welliver, Bentley Smith, Michael Caprile, Ryan Bain, Zachary Graham, Joseph Horrigan, Will Pike and Victoria Gomez of CBRE represented Moir Park Capital in the transaction.

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AcquisitionsIndustrialMidwestMinnesota

Midloch Investment Partners, Fountain Real Estate Capital Buy Industrial Property in Suburban Minneapolis for $11.9M

by Kristin Harlow

GOLDEN VALLEY, MINN. — A joint venture between Midloch Investment Partners and Fountain Real Estate Capital have acquired Boone Plaza in the Minneapolis suburb of Golden Valley for $11.9 million. The 123,608-square-foot industrial flex property is fully leased to 16 tenants. Constructed in 1984, Boone Plaza is situated on 10 acres at 1000 Boone Ave. North immediately north of the headquarters of General Mills. Some of the tenants at the property include General Mills, Gonyea Custom Homes and Schlage Lock Co. Fountain Real Estate will serve as the leasing broker.

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