Midwest

Chicago’s 1901 Project Owners Reveal Renderings for New Music Hall

by Kristin Harlow September 21, 2026

CHICAGO — The 1901 Project owners have revealed renderings for the new Music Hall, a purpose-built live performance venue taking shape on the United Center campus in Chicago. Set to open in 2028 as a centerpiece of the first phase of the 1901 Project, the Music Hall will accommodate 6,000 guests and is being built specifically for live music. New renderings show an intimate performance room with three levels of viewing. The venue bowl has been designed with support from major industry consultants including RIOS, Theater Projects and Kirkegaard. Inside will be bars, merchandise locations and hospitality spaces. Outside, the venue will open directly into the larger 1901 Project campus, connecting guests with new open space, restaurants, retail, parking and a hotel. The 1901 Project is a $7 billion investment that will transform more than 55 acre surrounding the United Center into a mixed-use destination with new public spaces and parks, housing, retail, hospitality, offices and transportation improvements.

September 21, 2026

Acquisitions Midwest Minnesota Missouri Retail

First Washington Realty Invests $65M for Two Midwest Shopping Center Acquisitions

by Kristin Harlow September 21, 2026

BLAINE, MINN. AND LIBERTY, MO. — First Washington Realty (FWR) has acquired two grocery-anchored shopping centers in Minnesota and Missouri for a combined value in excess of $65 million. The acquisitions expand FWR’s portfolio to 21.9 million square feet across 21 states. The Village of Blaine is a 220,685-square-foot center in Blaine, Minn., and Liberty Corners is a 124,808-square-foot property anchored by a 56,000-square-foot Cosentino’s Price Chopper store in Liberty, Mo. Additional tenants include Chipotle and The Big Biscuit.

September 21, 2026

Development Industrial Midwest Nebraska

Opus Breaks Ground on 272,076 SF Spec Industrial Development in Omaha

by Kristin Harlow September 21, 2026

OMAHA, NEB. — Opus has broken ground on Rainwood Industrial, a 272,076-square-foot speculative industrial facility within Rainwood Industrial Park in Omaha. The project will feature a clear height of 32 feet, 29 dock doors, two drive-in doors and 176 vehicle parking spaces. The building will accommodate up to six users. Opus is the developer and design-builder, and SVPA Architects is the architect. Denny Sciscoe of Lund Co. is marketing the project for lease. Completion is slated for April 2027. Rainwood Industrial Park is located less than two miles from I-680, less than 10 miles from I-80 and directly east of a Google data center.

September 21, 2026

Acquisitions Midwest Multifamily Nebraska

Greysteel Brokers $15.3M Sale of Apartment Community in South Sioux City, Nebraska

by Kristin Harlow September 21, 2026

SOUTH SIOUX CITY, NEB. — Greysteel has brokered the $15.3 million sale of Dakota Pointe, a 143-unit multifamily property in South Sioux City. Built in 1994, the property was fully leased at the time of sale. Units come in one-, two- and three-bedroom floor plans. Greysteel represented the seller. Both the buyer and seller were private investors based in South Dakota.

September 21, 2026

Development Illinois Loans Midwest Multifamily Office Top Stories

JLL Arranges $113M in Financing for Office-to-Residential Conversion Project in Downtown Chicago

by Taylor Williams September 21, 2026

CHICAGO — JLL has arranged approximately $113 million in construction financing and joint venture equity for an office-to-residential conversion project located along downtown Chicago’s “Magnificent Mile” corridor. The sponsor, Commonwealth Development Partners, purchased the 25-story office building at 500 N. Michigan Ave. in August 2025 in partnership with Triangle Capital Group. That deal traded off-market and fetched a sales price of $5 million. Commonwealth is now in the process of converting the building into a 320-unit apartment community. Construction on the redevelopment began in May and is slated for a spring 2028 completion. The financing package consists of a $71.5 million nonrecourse construction loan from Santander Bank and $41.8 million in joint venture equity that was provided by Washington Capital Management on behalf of one of its institutional clients. Chris Knight, Ryan Planek and Annie Thomas of JLL secured both components of the package on behalf of Commonwealth. Upon completion, the adaptive reuse project will feature studio, one- and two-bedroom units, 64 of which will be designated as affordable housing. The development will offer amenities such as a rooftop pool, fitness center with a yoga room, coworking space, a multi-sport simulator, theater and concierge services. Residents at 500 N. Michigan …

September 21, 2026

Illinois Industrial Loans Midwest

BWE Arranges $48M Refinancing for 978,000 SF Industrial Property in DeKalb, Illinois

by Kristin Harlow September 18, 2026

DEKALB, ILL. — BWE has arranged $48 million to refinance a 978,000-square-foot logistics facility occupied by 3M in DeKalb. Mike Guterman of BWE arranged the fixed-rate loan, which features a 55 percent loan-to-value ratio. Griffin Capital, a southern California-based real estate investment and management company, was the borrower. Aegon, a life insurance company lender, provided the loan. Located at 1650 Macom Drive, the property is one of several that are fully leased to 3M in the DeKalb area, totaling around 2.5 million square feet. The building features specialized chemical storage and aerosol rooms, cold storage facilities and containment floors.

September 18, 2026

Illinois Industrial Leasing Activity Midwest

Cawley CRE Negotiates 577,422 SF Industrial Lease in Crest Hill, Illinois

by Kristin Harlow September 18, 2026

CREST HILL, ILL. — Cawley Commercial Real Estate has negotiated a lease for a newly constructed industrial facility totaling 577,422 square feet in Crest Hill on behalf of MWI Property Group. The tenant is a global logistics company. Situated on 37 acres within Crest Hill Business Park, the cross-docked warehouse features a clear height of 36 feet, 104 truck doors, 151 trailer parking stalls, 345 vehicle parking spaces, 14 van stalls, up to 4,000 amps of power and immediate access to the I-55 logistics corridor. Joshua Hearne of Cawley CRE led the leasing assignment, with colleagues Reinier Pranger and Andrew Bobak supporting marketing and leasing efforts. Cawley CRE also assisted MWI on the land acquisition. MWI’s construction affiliate, MWI Construction, served as the design-build general contractor. SPACECO provided engineering services, and Harris Architects provided architectural design services.

September 18, 2026

Development Michigan Midwest Nebraska Retail

National Daycare Franchise to Open 12 New Centers Totaling 120,000 SF in Michigan, Nebraska

by Kristin Harlow September 18, 2026

MICHIGAN AND NEBRASKA — National daycare franchise The Learning Experience has unveiled plans to open 12 new centers over the next three years, adding 120,000 square feet. Each location will total up to 10,000 square feet of indoor building space with up to a 5,000-square-foot playground. Each center will employ as many as 30 staff members and certified teachers to serve upwards of 180 children between six weeks and six years of age with daycare and early childhood education. Eight are planned for Michigan, with six in the Detroit area and two in Grand Rapids. The other four are planned for Nebraska, evenly split between the Lincoln and Omaha metro areas. The Learning Experience, which is owned by private equity group Harvest Partners, now maintains 491 centers open and operating. The Florida-based franchise opened 57 new centers in 2025 and 29 so far in 2026, with another 305 currently under development.

September 18, 2026

Acquisitions Illinois Industrial Midwest Self-Storage

Inland Acquires 859-Unit Self-Storage Facility in Joliet, Illinois

by Kristin Harlow September 18, 2026

JOLIET, ILL. — Inland Real Estate Acquisitions LLC has purchased an 859-unit self-storage facility in Joliet, about 40 miles southwest of Chicago. Mark Cosenza and Brett Smith completed the transaction on behalf of an Inland affiliate. Previously an ExtraSpace Self Storage property, the facility will be rebranded and fully managed by Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc. The two-story, 112,209-rentable-square-foot facility was constructed in 2023. The main climate-controlled building is comprised of 764 units and 95 exterior drive-thru units, of which 13 are oversized for RV, boat or large vehicle storage.

September 18, 2026

Development Illinois Midwest Office

Google Shares Renderings for Reimagined Thompson Center in Chicago

by Kristin Harlow September 17, 2026

CHICAGO — Google has shared new design renderings for the Thompson Center’s atrium in Chicago. The company announced plans to buy the James R. Thompson Center building in 2022. Google has also teamed up with After School Matters to commission a student-designed art piece for the retail concourse. Artist Sanford Biggers has been selected to create a sculpture for the plaza that will honor the Loop’s history of public art. Conceptualized with Architecture Plus Information (A+I), Google is expanding the central opening beneath the 17-story atrium, constructing a cascading staircase integrated with terraced seating and retail offerings. The activated atrium and plaza will feature food, retail and space for seasonal events. The project is slated for completion in 2028. Google opened its Chicago office in 2000 and has grown its employee base in the city to more than 2,000 employees. Google also announced that it will provide $1 million in funding to A Better Chicago to support student attendance.

September 17, 2026

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