SKOKIE, ILL. — Greenstone Partners has brokered the $3.9 million sale of Gross Point Crossing, a 19,000-square-foot retail center in Skokie. Brewster Hague and AJ Patel of Greenstone represented the seller, a Chicago-based private investor, and procured the buyer, an Ohio-based private real estate investment firm. The value-add property was 67 percent occupied at the time of sale. Located at the signalized intersection of Gross Point Road and Dempster Street, the asset features a mix of food and service-oriented tenants.
Midwest
RICHMOND HEIGHTS, OHIO — Walker & Dunlop has arranged $55.2 million in construction financing for Phase I of Belle Oaks Marketplace, a mixed-use redevelopment project in Richmond Heights, a suburb of Cleveland. Ryan Parker led the Walker & Dunlop team that arranged the floating-rate loan. Genesis Capital provided the loan on behalf of the borrower, DealPoint Merrill. Plans call for 181 Class A multifamily units across two buildings as part of the first phase of a larger mixed-use, master-planned redevelopment. Upon completion, Belle Oaks Marketplace will transform the former Richmond Town Square Mall into a mixed-use community with 798 multifamily units, more than 120,000 square feet of retail space, a 159,000-square-foot grocery anchor and additional community amenities.
INDIANAPOLIS — General contractor Skender has completed common area upgrades and four office build-outs at Keystone Crossing, a five-building, 1.1 million-square-foot office park in Indianapolis. The four tenant build-outs, totaling 57,000 square feet, and common area enhancements were completed on behalf of landlords Interamar and Typerion Holdings, which acquired the campus in late 2024 and are implementing a significant repositioning. At the 8888 Building, Skender completed a 15,000-square-foot gut remodel of the existing 16th floor and turned the space into a modern workplace for WestPoint Financial Group, a MassMutual firm. At the 9000 Building, Skender completed a 7,000-square-foot build-out for the Indiana Apartment Association. The workspace includes a new training room, breakroom and several private offices. At this building, Skender also converted two former ground-floor suites into a new amenity center with a café, fitness center, golf simulators and upgraded restrooms. At the 9100 Building, Skender completed the 21,000-square-foot national headquarters for Delta Tau Delta. The project included full demolition of the existing space and a renovation, including private offices, a breakroom and dedicated display areas showcasing the fraternity’s history and memorabilia. Skender also completed a 14,000-square-foot office build-out for accounting firm CliftonLarsonAllen. The workspace includes a café, training room …
NEW ALBANY, IND. — Marcus & Millichap has arranged the sale and financing of The Villas at Green Valley, an 84-unit multifamily property in New Albany near Louisville. The asset sold for $14.1 million. Tony Rogers and Aaron Kuroiwa of Marcus & Millichap represented the seller, a southern Indiana-based developer, and procured the buyer, a California-based investor. Chad O’Connor of Marcus & Millichap Capital Corp. secured $9.2 million in financing through a national bank on behalf of the buyer. The loan features a 10-year term, 65 percent loan-to-value ratio, 5.85 percent interest rate and 30-year amortization period. Built in 2023, The Villas at Green Valley is situated on Green Valley Road and features a mix of one-, two- and three-bedroom floor plans across 93,840 rentable square feet. The new ownership plans to enhance the amenity package by utilizing additional green space.
KALAMAZOO, MICH. — GREA has brokered the sale of Big Bend Apartments, a 128-unit low-income housing tax credit community in Kalamazoo. Constructed in 2004, the property features a mix of two- and three-bedroom units. GREA facilitated the disposition of the asset on behalf of the original developer.
BIG BEND, WIS. — The Milwaukee office of Kraus-Anderson (KA) will build the Breck Athletic Complex, a $175 million youth sports complex located at Highway 164 and I-43 in Big Bend, just southwest of Milwaukee. The facility will host national-level baseball, soccer and lacrosse tournaments. The project will be the first of its kind in the area and the largest complex in Wisconsin when complete, according to KA. Construction is expected to begin this spring. Designed by ISG Architects, the project’s baseball component will feature six full turf lighted outdoor fields, a championship field with built-in seating, a 150,000-square-foot indoor baseball, lacrosse and soccer facility, batting cages and warmup areas, bleachers and restrooms. There will be five full turf outdoor fields for soccer and four full turf outdoor fields for lacrosse. Amenities will include golf simulators, a looped fitness trail, gas station, parking, commercial and retail spaces, sports outfitters and an onsite hotel. Food and entertainment offerings will include multiple concessions, additional restaurants, a coffee bar and a craft beer bar, restaurant and banquet hall near the championship field. The soccer fields are anticipated to be ready for gameplay by early fall 2026. Baseball diamonds are expected to open in …
CHICAGO — A 50-room boutique hotel is planned for Chicago’s Northalsted community named Backbeat Hotel. The first hotel of its kind in the heart of the city’s LGBTQ+ neighborhood, the 41,000-square-foot property will offer modern, design-forward accommodations, including 12 suites. Amenities will include a rooftop pool, street-level restaurant, gathering spaces and a below-ground lounge. Built on the site of the renowned Northalsted fixture Yoshi’s Café, which shuttered in 2021, the six-story hotel project is designed by Miami-based Studio Rodrigo Buelvas in collaboration with Chicago-based Jonathan Splitt Architects. Inspired by Chicago’s connection to the origins of house music, “Backbeat” draws its name from the music that rose from disco basements and house lofts on Halsted Street. Demolition of the existing structure is slated for later this year, with an anticipated opening in 2028.
WESTFIELD, IND. — Structural engineering firm O’Donnell & Naccarato has topped out the new Westfield Police Headquarters, a $35 million public safety facility. The new headquarters, rising two stories and totaling 63,000 square feet, will replace the city’s existing public safety building. The project team includes architect Dewberry, construction manager Skender and the City of Westfield as the project owner. The design incorporates a range of structural systems and materials as well as a 2,700-square-foot storm shelter. The project also includes planning for a future 30,000-square-foot expansion to accommodate the city’s growth. The topping out marks the completion of the building’s structural framework. The project is on track for completion in 2027.
KANSAS CITY, MO. — The Fold, a new American restaurant concept from the team behind Roots Seasonal Cuisine in Lee’s Summit, Mo., will open at Corrigan Station in the heart of Kansas City’s Crossroads Arts District. The Fold will occupy 6,072 square feet in the former Corvino restaurant space. Todd Richards, bar manager for Roots, along with Amanda Accurso and Brandon Sharp, owners of Roots, are partners in The Fold, which will offer a wide range of culinary options. The restaurant is scheduled to open Friday, May 22. The Fold’s name reflects the restaurant’s vision of being a welcoming place for people from all walks of life, according to Corrigan Station owner Copaken Brooks.
ST. LOUIS — Midas Hospitality has begun an $81 million revitalization of the historic Edison Brothers Building in downtown St. Louis. The project includes updates to the hotel and public spaces, new street-level amenities and the restoration of the building’s mural. The property is planned to reopen in fall 2027 as the Sheraton St. Louis Downtown. Located at 400 S. 14th St., the nearly 950,000-square-foot building was repurposed more than 20 years ago and has since included 72 condominiums and a 270-room hotel. Midas’ plans call for 284 fully updated hotel rooms, expansive meeting and event space on the building’s top floor and a rooftop outdoor deck serving both guests and event participants. Central to the project is the restoration of the building’s trompe l’oeil mural, originally painted in 1984 by artist Richard Haas. Midas has retained Haas to restore the artwork. Financing partners include Acres Capital, The Bank of Missouri and Peachtree Group. Historic tax credit partners include Historic Equity Inc. and Commerce Bank. The project also received support from the City of St. Louis and the condominium association, Breckenridge 1400 Condominium Association. The design and construction team includes MBG (general contractor), Gray Design Group (architect), Avenir Group (interior …