Monday, January 26, 2026
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DevelopmentIllinoisMidwestRetail

Summit Design + Build Completes Two Burdeen’s Jewelry Locations in Chicago’s Gold Coast

by Kristin Harlow

CHICAGO — Summit Design + Build has completed an adaptive reuse project for Burdeen’s Jewelry at 120 E. Oak St. in Chicago’s Gold Coast as well as interior renovations to the existing Burdeen’s Jewelry store at 11 E. Walton St. at the base of the Waldorf Astoria. The 120 E. Oak St. project consisted of the interior build-out for Burdeen’s as well as two luxury flagship stores situated on either side. The two-story luxury jewelry store totals more than 10,000 square feet and shares an outer structure with Panerai and IWC. Project highlights include a watchmaking studio, transparent glass floor and large skylight. The location marks Burdeen’s fourth in the Chicago area. Hirsch MPG served as the architect. The renovated space at 11 E. Walton St. features individual luxury brand spaces for Jaeger-LeCoultre, Roger Dubuis and Piaget. Dunne Kozlowski was the architect.

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AcquisitionsAffordable HousingMidwestMinnesotaMultifamilySeniors Housing

JLL Arranges Sale of 96-Unit Affordable Seniors Housing Community in Stillwater, Minnesota

by Kristin Harlow

STILLWATER, MINN. — JLL Capital Markets has arranged the sale and financing of Rivertown Commons, a 96-unit Section 8 affordable seniors housing community situated along the St. Croix River in Stillwater. The seven-story building totals 55,800 square feet. Amenities include a game room, library and private garden patio. Josh Talberg and Doug Childers of JLL represented the seller, Dominium Management, and procured the buyer, Standard Communities. The buyer plans to refresh the units and common areas in addition to extending the existing affordability restrictions. C.W. Early, Ken Dayton and Pat McMullen of JLL arranged acquisition financing through Freddie Mac.

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Leasing ActivityMichiganMidwestRetail

LK Esthetics Leases 1,400 SF at Beck Village Plaza in Novi, Michigan

by Kristin Harlow

NOVI, MICH. — LK Esthetics has leased 1,400 square feet of retail space at Beck Village Plaza in Novi. The property is located at the southeast quadrant of Beck Road and Pontiac Trail. Jack Melton and Michael Murphy of Gerdom Realty & Investment represented the undisclosed landlord, while Haley Kelly of Keller Williams Showcase represented the tenant.

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IllinoisIndustrialMarket ReportsMidwestMidwest Market Reports

Windy City’s Industrial Sector May Face Market Headwinds in 2024

by Kristin Harlow

By Chris Mergenthaler, DarwinPW Realty/CORFAC International The Windy City, as Chicago is often dubbed, has long been a vital hub of commerce and industry. Boasting 19 intermodal facilities operated by six Class I railroads, a top 15 worldwide cargo airport, and sitting at the confluence of seven interstate highways that allow goods to reach 25 to 30 percent of the U.S. population within one day’s drive, Chicago’s central location makes it a key logistics and transportation hub.  The robust labor force of over 4.7 million nonfarm employees, according to a first-quarter 2024 U.S. Bureau of Labor Statistics report, coupled with Chicago’s location and infrastructure, lay the foundation for a fundamentally strong industrial market.  While the long-term outlook of the Chicago industrial market remains positive, the Windy City is facing some headwinds as the market progresses through 2024. Uncertainty, whether positive or negative, has been a common theme of the Chicago industrial market since early 2023  as the market reacts to changing macroeconomic and geopolitical factors.  Uncertainty in the global supply chain, trade relations with other countries, as well as one of the longest freight market recessions in recent history, have led to an increase in direct and sublet space on …

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DevelopmentHealthcareMidwestMissouri

McCarthy Tops Out Construction of 16-Story Tower at Barnes-Jewish Hospital in St. Louis

by Kristin Harlow

ST. LOUIS — McCarthy Building Cos. Inc. has topped out construction of a new 16-story patient care tower at Barnes-Jewish Hospital in St. Louis. The work is part of BJC HealthCare’s Campus Renewal Project, a long-term initiative to replace and renovate outdated patient care facilities on the Washington University Medical Campus. The new building, known as the Plaza West Tower, will open to patients in fall 2025. The 660,000-square-foot facility will include seven floors of private acute inpatient rooms for heart and vascular patients (224 beds), two floors of intensive care units (56 beds), more than two floors of modern surgical prep and recovery, more than two floors of state-of-the-art medical imaging and interventional radiology, as well as two rooftop gardens, a family lounge with business center, kitchenette, quiet rooms and laundry facility. The project will also feature a kitchen and dietary center for patient meals and a public cafeteria with outdoor dining. The project team includes architect CannonDesign, consulting engineer BR+A, structural engineer Thornton Tomasetti, civil engineer Castle Contracting and landscape designer DTLS.

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AcquisitionsIllinoisIndustrialMidwest

Stream Realty Partners Acquires 104,008 SF Halsted Pershing Business Center in Chicago

by Kristin Harlow

CHICAGO — Stream Realty Partners has acquired Halsted Pershing Business Center in Chicago’s Stockyards submarket for an undisclosed price. The 104,008-square-foot industrial property is fully leased to three tenants. Patrick Russo, Mustafa Ali and Ben Harrison of Stream facilitated the acquisition. Ed Halaburt, Sean Devaney, John Huguenard, Kurt Sarbaugh, Will McCormack and Michael Conway of JLL represented the undisclosed seller. Stream currently manages a portfolio of 41 investments totaling 23.2 million square feet.

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AcquisitionsMidwestMinnesotaMultifamily

Marcus & Millichap Arranges $8.5M Sale of Multifamily Property in Fridley, Minnesota

by Kristin Harlow

FRIDLEY, MINN. — Marcus & Millichap has arranged the $8.5 million sale of Highland Park, a 77-unit multifamily property in the Minneapolis suburb of Fridley. Located at 610 Osborne Road NE and built in 1969, the asset features a mix of one-, two- and three-bedroom units. Nine of the units are townhome-style layouts. Abe Roberts and Michael Jacobs of Marcus & Millichap represented the undisclosed buyer and seller.

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DevelopmentIllinoisIndustrialMidwestSelf-Storage

Noble Self Storage Breaks Ground on 130,000 SF Redevelopment Project in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Noble Self Storage has broken ground on Batavia Square, a 130,000-square-foot self-storage facility and a 44,729-square-foot electric car dealership in the Chicago suburb of Batavia. Noble Self Storage acquired the shuttered Sam’s Club building at 510 N. Randall Road in March. Linda Kost of Grid 7 properties dba Realty Metrix Commercial represented the seller, 501 N. Randall Rd Batavia LLC, and the buyer, Noble Self Storage/Bradley Financial Corp. Sam’s Club vacated the property in January 2018. The two-story, climate-controlled self-storage facility will be in the rear of the building and the car dealership will occupy the entire frontage. Completion is slated for early 2025.

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Leasing ActivityMidwestMinnesotaRetail

Woodhouse Spa to Open at Rosedale Center in Suburban Twin Cities in July

by Kristin Harlow

ROSEVILLE, MINN. — Woodhouse Spa is scheduled to open at Rosedale Center in the Twin Cities suburb of Roseville in July. The luxury brand will open Minnesota’s only upscale spa, according to a news release. Rosedale Center, a 1.1 million-square-foot shopping center, recently welcomed tenants Lululemon, Anthropologie, Warby Parker, Hollister and Shake Shack. Dick’s Sporting Goods is slated to open in October. Holly Rome and Lane Walsh of JLL represented ownership in the lease with Woodhouse Spa, which operates more than 80 spas across the country. The Rosedale location is owned and operated by local resident Amy Adams.

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IllinoisIndustrialLeasing ActivityMidwest

John B. Sanfilippo & Son Inks 444,600 SF Industrial Lease at Venture Park 47 in Huntley, Illinois

by Kristin Harlow

HUNTLEY, ILL. — John B. Sanfilippo & Son Inc. has inked a 444,600-square-foot industrial lease at Venture Park 47 in the Chicago suburb of Huntley. Completed in 2023, the building at 12300 Jim Dhamer Drive totals 729,823 square feet. Frank Griffin and John Sharpe of Lee & Associates represented the tenant, which has begun occupying the facility concurrently with a tenant improvement build-out. Brian Kling and Reed Adler of Colliers represented the owner, Venture One Real Estate. The transaction marks the largest industrial lease of the second quarter in Chicago’s North Kane County submarket and the fourth largest in metro Chicago, according to Lee & Associates. John B. Sanfilippo & Son is a processor, packager and marketer of a wide variety of nut and snack products.

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