Monday, November 24, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Midwest

DevelopmentIllinoisMidwestMultifamily

Skender Completes 21-Story Luxury Apartment Building in Chicago’s River North

by Kristin Harlow

CHICAGO — Skender has completed construction of The Leo, a 21-story luxury apartment tower located at 741 N. Wells St. in Chicago’s River North. VISTA Property is the developer. Designed by Antunovich Associates, the building features 168 units, including 50 studios, 101 one bedrooms and 17 two bedrooms. The project also includes 3,877 square feet of ground-floor retail space. Amenities include an in-gym yoga studio, outdoor pool, rooftop deck, kitchen café, group fitness terrace, private events room, dog run and bike room. Luxury Chicago Realty is handling leasing. Huntington Bank provided a first mortgage loan for the project. Monthly rents start at $2,250, according to the property’s website.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentLoansMidwestMultifamilyWisconsin

PACE Loan Group Provides $8M in C-PACE Financing for Luxury Apartment Project in Eau Claire, Wisconsin

by Kristin Harlow

EAU CLAIRE, WIS. — PACE Loan Group has provided $8 million in C-PACE financing for The Washington, a 200-unit luxury apartment project to be built in Eau Claire, a city in western Wisconsin. The financing fills out the $41 million capital stack, which includes $20 million in debt and $13 million in equity. The three-building project will comprise a former managed care facility and two new ground-up buildings. The 10-acre site is located within two miles of the University of Wisconsin-Eau Claire and numerous healthcare facilities. The former managed care facility, which originally opened in 1937, will house amenities including a 2,000-square-foot commercial space on the first floor, rooftop deck, fitness center, clubroom, coworking space, media room, yoga studio, outdoor heated pool, dog park and dog washing station. It will also include 53 multifamily units. One of the new buildings will consist of 87 units; the other will feature 60 units. Both will have fitness centers, clubrooms, media rooms and underground parking. Construction will begin shortly and is slated for completion by September 2025. The PACE proceeds will be used to finance energy conservation and renewable energy measures. Qualifying projects include building envelope, Energy Star windows, high-efficiency HVAC, domestic hot …

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisIndustrialLeasing ActivityMidwest

Lee & Associates Negotiates 53,000 SF Industrial Lease for Bullfrog International in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — Lee & Associates has negotiated a full-building industrial lease totaling 53,000 square feet on behalf of Bullfrog International in Elgin. The property at 1320 Gateway Drive features a clear height of 24 feet, two interior docks, two drive-in doors and an existing three-ton bridge crane. Bullfrog International is a designer and manufacturer of high-end hot tubs that has expanded its Chicago-area presence with industrial and retail space. Rick Scardino, Michael Petrik and Sean Bishop of Lee & Associates represented the tenant. Jeff Matella of Cushman & Wakefield represented the landlord, Bix Box Property Owner C LLC.

Continue Reading
FacebookTwitterLinkedinEmail
Affordable HousingIllinoisLoansMidwestMultifamily

Colliers Mortgage Originates $7.8M Loan for Refinancing of 72-Unit Affordable Housing Property in Chicago

by Kristin Harlow

CHICAGO — Colliers Mortgage has originated a $7.8 million Fannie Mae loan for the refinancing of Southeast Englewood and South Wabash in Chicago. The 72-unit, scattered site affordable housing property consists of six three-story buildings with garden-level basements. The buildings are situated on six parcels, three of which are non-contiguous. All of the units are restricted to low-income tenants by a HUD Section 8 HAP contract. Les Hardin of Colliers Mortgage structured the loan, which features a 10-year term. LSG Lending Advisors arranged the loan.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Arranges $6.4M Sale of Gallatin Apartments in Wauwatosa, Wisconsin

by Kristin Harlow

WAUWATOSA, WIS. — Marcus & Millichap has arranged the $6.4 million sale of Gallatin Apartments in Wauwatosa, located immediately west of Milwaukee. Built in 2020, the 27-unit apartment building is located at 2515 N. Wauwatosa Ave. Amenities include a fitness center, underground parking, bicycle storage, a rooftop deck and private dog run. Matthew Whiteside, Mark Peltin and Blake Hanlon of Marcus & Millichap represented the undisclosed seller. Whiteside procured the buyer, which was also undisclosed.

Continue Reading
FacebookTwitterLinkedinEmail
CPKC-Stadium-Kansas-City
CivicDevelopmentMidwestMissouriTop Stories

Kansas City Current Debuts $120M Women’s Soccer Stadium

by Taylor Williams

KANSAS CITY, MO. — The Kansas City Current of the National Women’s Soccer League (NWSL) has opened its $120 million home field, CPKC Stadium. The venue, which is located in the Berkeley Riverfront area along the Missouri River and seats 11,500 people, is the first soccer stadium in the world to be designed and built exclusively for women, according to the project team. Sports Business Journal reports the development of the stadium was privately financed by the team, although ownership eventually requested $6 million in state-issued tax credits to offset an escalated construction budget, according to the Kansas City Star. In April 2023, the Current announced that Canadian Pacific Kansas City, a railway operator whose U.S headquarters is located in Kansas City, had acquired the naming rights to the stadium as part of a 10-year deal. A host of Kansas City-based firms contributed to the design and delivery of the stadium, and many of these companies have design, engineering and construction teams that are led by women. They include: “Our vision was to create a player-first experience while equally prioritizing fans,” say Angie and Chris Long, founders and co-owners of the Kansas City Current. “Not only did our Kansas City-based …

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

Mid-America Real Estate Brokers Sale of 115,754 SF Oak Forest Commons Shopping Center in Suburban Chicago

by Kristin Harlow

OAK FOREST, ILL. — Mid-America Real Estate Corp. has brokered the sale of Oak Forest Commons, a 115,754-square-foot shopping center in the Chicago suburb of Oak Forest. The sales price was undisclosed. The value-add property presents the opportunity for ownership to lease up grocer space formerly occupied by Food 4 Less. Rick Drogosz, Ben Wineman and Joe Girardi of Mid-America represented the seller, IRC Retail Centers/DRA Advisors. The asset sold to First Tek. The property was managed by Pine Tree.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestMissouriMultifamilySeniors Housing

Merrill Gardens Acquires 103-Unit Senior Living Community in Springfield, Missouri

by Kristin Harlow

SPRINGFIELD, MO. — Merrill Gardens has acquired Mission Ridge, a 103-unit senior living community in Springfield, a city in southwest Missouri. The property features one- and two-bedroom residences offering independent living, assisted living and memory care. The purchase price and seller were undisclosed. Merrill Gardens, a privately held company, now operates 65 communities in 17 states.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLeasing ActivityMidwestOffice

Five Tenants Ink Leases for ‘Ready-to-Wear’ Office Suites at Bell Works Chicagoland

by Kristin Harlow

HOFFMAN ESTATES, ILL. — Five tenants have inked leases totaling more than 13,800 square feet for “Ready-to-Wear” office suites at Bell Works Chicagoland in Hoffman Estates. PartsSource, a provider of healthcare products and solutions, leased 4,300 square feet. Jameson Sotheby’s International Realty, a real estate firm, signed a lease for 2,300 square feet. Route One Group, a consulting company specializing in the trucking industry, leased 1,200 square feet. Veregy, an energy-efficiency solutions, solar and smart building technology company, inked a lease for 1,600 square feet. Essentra Components, a manufacturer of plastic components, renewed its 4,400-square-foot lease.   Bell Works Chicagoland is the redevelopment of the former AT&T corporate campus. The Ready-to-Wear spaces total 23,628 square feet and are immediately ready for occupancy with flexible, short-term leasing options. Tenants have access to the larger office offerings such as conference rooms and the onsite coworking facility, CoLab. Colliers represented ownership in the leases. Inspired by Somerset Development is the owner and developer of Bell Works Chicagoland.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts