Wednesday, September 9, 2026
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AcquisitionsIllinoisIndustrialMidwest

SVN Chicago Commercial Arranges $25.5M Sale of Industrial Property in Lake Zurich

by Kristin Harlow

LAKE ZURICH, ILL. — SVN Chicago Commercial has arranged the $25.5 million sale of a 210,000-square-foot industrial property located at 1275 Ensell Road in Lake Zurich. Paul Cawthon and Angelo Labriola of SVN represented the seller. Lyman Phillips and Jeff Feldman of Golden Lion Capital represented the buyer, Cardinal Industrial, led by Michael McFarland and Thomas Homco. The transaction included a newly executed, five-year net lease with GereMarie Corp., the facility’s longtime occupant. The lease includes additional renewal options and is corporately guaranteed by Patrick Industries Inc., the publicly traded parent company of GereMarie. Situated on 8.5 acres, the facility features substantial manufacturing infrastructure, including 10,000 amps of power, reinforced concrete floors, a fully air-conditioned production environment, updated loading docks and newer HVAC and LED lighting systems. GereMarie has occupied the property since 2010 and has completed four major expansions at the site.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $11.5M Sale of Retail Strip Center in Glendale Heights, Illinois

by Kristin Harlow

GLENDALE HEIGHTS, ILL. — Marcus & Millichap has brokered the $11.5 million sale of Bloomingdale Plaza in Glendale Heights. Anchored by Aldi, the 15-suite retail center is fully occupied and includes a two-tenant outlot anchored by Starbucks, which executed a five-year lease extension in August. Longstanding tenants Aldi, Boost Mobile and Glendale Medical have occupied the center for more than 17 years. The center ranks in the top 7 percent of Illinois strip centers by visits, attracting more than 1.4 million annual visitors, according to Marcus & Millichap. Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the seller, a local private investor. Buyer information was not provided.

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IllinoisLoansMidwestOffice

Tishman Speyer Receives $340M Loan for Refinancing of Chicago Office Complex

by Kristin Harlow

CHICAGO — Tishman Speyer has received a $340 million CMBS loan for the refinancing of The Franklin, a two-tower office complex in Chicago’s West Loop. JPMorgan led the single asset single borrower (SASB) loan with Bank of America and Deutsche Bank serving as co-lenders. Proceeds from the five-year, floating-rate loan will be used to pay off The Franklin’s existing loan and fund ongoing leasing efforts. Tishman Speyer has secured 460,000 square feet of new leases and extensions at the property since June 2025, leaving the asset 84 percent leased. Tenants at the 2.5 million-square-foot campus include The Options Clearing Corp., Robert W. Baird, Amazon Web Services, Guggenheim Partners and The Trade Desk. The Franklin encompasses a 60-story tower at 227 W. Monroe St. and a 34-story tower at 222 W. Adams St.

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KansasLoansMidwestMultifamilyStudent Housing

Gantry Arranges $22.8M Loan for Kansas Student Housing Property

by Kristin Harlow

PITTSBURG, KAN. — Gantry has arranged a $22.8 million permanent CMBS loan for University Digs, a multifamily property located at 1902 S. Broadway St. in Pittsburg, directly adjacent to Pittsburg University. The three-story, 190-unit community features a mix of studio, one- and two-bedroom floor plans. Originally built in 1960, University Digs has undergone extensive renovations since its original construction. Amenities include a pool, clubhouse, volleyball court, pickleball court and onsite management. Mark Reichter and Alec Frook of Gantry represented the borrower, a private real estate investor. The five-year, fixed-rate loan features interest-only payments for the full term.

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IllinoisIndustrialLeasing ActivityMidwest

BDK Express Signs 120,985 SF Industrial Lease in Bensenville, Illinois

by Kristin Harlow

BENSENVILLE, ILL. — BDK Express, a trucking and logistics company, has signed a full-building industrial lease totaling 120,985 square feet at 951 Thorndale Ave. in Bensenville. Paddy Dwyer, Joe Bronson and Pat Clifford of NAI Hiffman represented the landlord, Prologis. The Class B distribution center features a clear height of 24 feet, 20 loading docks and immediate access to I-390 as well as proximity to the Chicago O’Hare International Airport.

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Affordable HousingDevelopmentMidwestMultifamilyWisconsin

McShane to Build 52-Unit Affordable Housing Community in Portage, Wisconsin

by Kristin Harlow

PORTAGE, WIS. — Impact Seven, in partnership with Harmony Housing Partners, has selected McShane Construction Co. to build River Crossing, a 52-unit affordable housing community in Portage. Positioned on a 2-acre site at 2941 Hunters Trail, the development will consist of a podium-style building atop a one-level underground parking garage with 52 spaces. A portion of the units will accommodate adults with disabilities. Residents will have access to 13,000 square feet of amenities, including a community room, quiet lounge, media room, pet spa, fitness center and storage lockers. Completion is slated for October 2027. Continuum Architects + Planners is the architect, and General Engineering Co. is the civil engineer.

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IllinoisLoansMidwestMultifamily

Knighthead Funding Provides $32M Loan for Refinancing of Metro Chicago Apartment Community

by Kristin Harlow

GLENVIEW, ILL. — Knighthead Funding has provided a $32 million loan for the refinancing of Cerca, a newly constructed multifamily community in Glenview. The loan refinances a previous construction facility and provides proceeds to pay off the property’s preferred equity investor. Jonathan Daniel, Peter Illuzzi and Joseph Marraccini of Knighthead originated the loan on behalf of the borrower, The Drake Group. Amenities at the 62-unit property include fitness rooms, a private dining area, conference rooms, an amenity deck, dog spa and grilling stations. The property also includes 6,886 square feet of ground-floor retail space. Daniel Gillard, Philip Galligan, Michael Gurwin and Ryan Planek of JLL represented the borrower.

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AcquisitionsHealthcareMidwestMinnesota

Davis Acquires Minnesota Outpatient Medical Portfolio for $31.3M

by Kristin Harlow

MINNESOTA — Davis, a national healthcare real estate investment, development and management firm based in Minneapolis, has acquired a four-building outpatient medical portfolio from Lakeview Clinic for $31.3 million. The 114,346-square-foot portfolio includes properties in Waconia, Norwood, Chaska and Watertown. As part of the transaction, Lakeview extended its leases at each property. Founded in Waconia in 1957, Lakeview has grown to 62 providers across four locations offering a range of primary and specialty care services.

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AcquisitionsMidwestMultifamilyWisconsin

Northmarq Brokers $31M Sale of Multifamily Property in Sheboygan, Wisconsin

by Kristin Harlow

SHEBOYGAN, WIS. — Northmarq has brokered the $31 million sale of Harbor Estates, a 186-unit multifamily property in Sheboygan, which is north of Milwaukee. Alex Malzone, Jake Lamb, Parker Stewart and Dominic Martinez of Northmarq represented the seller, a partnership between Harmoniq Residential and Midloch Investment Partners. Built in 2002, Harbor Estates offers a mix of one-, two- and three-bedroom units. Amenities include a clubhouse, fitness center, putting green, underground parking and a pool.

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LoansMidwestMinnesotaOffice

CBRE Arranges $11M Refinancing for Grandview Square Office Building in Edina, Minnesota

by Kristin Harlow

EDINA, MINN. — CBRE has arranged $11 million in refinancing for Grandview Square, a 98,561-square-foot office building in Edina. Billy Mork, Joel Torborg and Mike Vannelli of CBRE secured a five-year, fixed-rate loan on behalf of Capital Partners, a Minnesota-based commercial real estate investment and management firm. A life insurance company provided the loan, which features interest-only payments for the full term and a 5.89 percent interest rate. Built in 2001 and renovated in 2025, the property offers surface and underground heated parking, a fitness center, golf simulator, shared conference rooms, a tenant lounge and outdoor patio. The three-story building is fully leased to 16 tenants.

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