Saturday, May 16, 2026
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Affordable HousingDevelopmentMidwestMultifamilyNebraska

The Annex Group to Develop $52.7M Affordable Housing Community in Lincoln, Nebraska

by Kristin Harlow

LINCOLN, NEB. — The Annex Group is developing Union at Antelope Valley, a $52.7 million affordable housing community in Lincoln. The five-story project will feature 187 one-, two- and three-bedroom units that will be reserved for households whose income levels are at or below 60 percent of the area median income. Completion is slated for summer 2025. The community will be situated on 1.7 acres at 1810 K. St. within the eastern portion of downtown Lincoln. Amenities will include a community center, fitness center, dog park, courtyard, private garage and onsite management. Like all of Annex’s affordable housing communities, Union at Antelope Valley will offer a customized Community Impact Plan that will help connect residents with community resources. Partners on the project include BVH Architecture, REGA Engineering Group and Summit LIHTC Consulting. US Bancorp Impact Finance provided more than $21 million in federal Low-Income Housing Tax Credit equity financing, while Cedar Rapids Bank & Trust provided more than $25 million in debt financing. Annex’s construction arm, Annex Construction of Nebraska LLC, is the general contractor.

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IndustrialLoansMichiganMidwest

Bernard Financial Group Arranges $30M Loan for Refinancing of Industrial Property in Livonia, Michigan

by Kristin Harlow

LIVONIA, MICH. — Bernard Financial Group (BFG) has arranged a $30 million loan for the refinancing of a 364,000-square-foot industrial property in Livonia, a northwest suburb of Detroit. Dennis Bernard and Joshua Bernard of BFG arranged the loan with Securian Life Insurance Co. The borrower was an entity doing business as Livonia West Commerce Center 2 LLC.

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AcquisitionsIndianaIndustrialMidwest

MDH Partners Acquires 247,000 SF Warehouse in Noblesville, Indiana

by Kristin Harlow

NOBLESVILLE, IND. — MDH Partners has acquired Washington Business Park 2, a 247,000-square-foot warehouse completed this year in the Indianapolis suburb of Noblesville. Patch Development was the seller. MDH previously purchased Washington Business Park 1 in October 2022. Both buildings are located within the 142-acre Washington Business Park. Houston Hawley represented MDH on an internal basis. Bryan Poynter and Ryan Baker of Cushman & Wakefield brokered the sale. MDH’s footprint in Indiana now totals more than 1.4 million square feet.

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AcquisitionsIllinoisMidwestMultifamily

Kiser Group Negotiates $10.9M Sale of Apartment Building in Chicago’s Andersonville Neighborhood

by Kristin Harlow

CHICAGO — Kiser Group has negotiated the $10.9 million sale of an apartment building in Chicago’s Andersonville neighborhood. Located at 1553-55 W. Hollywood Ave., the property spans a full city block and features 76 apartment units along with 22 retail spaces. Jacob Price and Katie LeGrand of Kiser brokered the transaction. Buyer and seller information was not provided. The new ownership plans to preserve the property’s vintage character while enhancing units and amenities.

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DevelopmentIllinoisMidwestOffice

Skender Completes Transformation of Former McDonald’s Campus in Suburban Chicago into New Headquarters for Ace Hardware

by Kristin Harlow

OAK BROOK, ILL. — Skender has completed the transformation of the former McDonald’s corporate campus in the Chicago suburb of Oak Brook into the new headquarters for Ace Hardware. The 250,000-square-foot development is located at 2915 Jorie Blvd. Ace’s new headquarters consists of open workstations, 150 conference rooms, 12 café/pantry spaces and a variety of collaboration areas and amenities. Originally built in the 1970s and designed by Dirk Lohan, grandson of famed architect Mies van der Rohe, the former McDonald’s campus consists of three buildings across more than 80 acres. The campus has sat empty since 2019 when the fast food giant moved its headquarters to downtown Chicago. The renovation repurposed many of the main building’s original architectural elements, including a large atrium in the center. The first floor of the parking garage is now an amenity suite that includes a fitness center, conference center, multipurpose room and large cafeteria with commercial kitchen. The project team included CBRE Design Collective as architect and ESD, now named Stantec Consulting Services, as engineer.

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AcquisitionsIllinoisMidwestRetail

JLL Arranges Sale of 54,120 SF Retail Center in Suburban Chicago

by Kristin Harlow

OAKBROOK TERRACE, ILL. — JLL Capital Markets has arranged the sale of The Overlook at Oakbrook, a 54,120-square-foot retail center in the Chicago suburb of Oakbrook Terrace. Built from 2022 to 2023, the fully leased property consists of seven single-tenant and multi-tenant buildings. Some of the tenants include Guidepost, Lazy Dog, Panera and Vet Emergency Group. Alex Sharrin, Michael Nieder, John Detlaff and Noel O’Donnel of JLL represented the seller, GW Properties, and procured the buyer, MetLife Investment Management.

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AcquisitionsMidwestNebraskaOffice

Investors Realty Brokers $6.2M Sale of Office Building in Omaha

by Kristin Harlow

OMAHA, NEB. — Investors Realty Inc. has brokered the sale of a 66,011-square-foot office building in Omaha for $6.2 million. The property at 8420 W. Dodge Road is 76 percent leased to Senior Market Sales. Ember Grummons and JP Raynor of Investors Realty represented the seller, an entity doing business as 8420 LLC. Joseph Failla of Atrium Properties represented the buyer, an entity doing business as 5332 So. 138th St. LLC.

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IndustrialLeasing ActivityMidwestMissouri

IDI Distributors Signs 30,000 SF Industrial Lease at Hazelwood Business Park in Suburban St. Louis

by Kristin Harlow

HAZELWOOD, MO. — IDI Distributors, an insulation distribution company, has signed a roughly 30,000-square-foot industrial lease at Hazelwood Business Park in suburban St. Louis. Industrial Commercial Properties owns the new business park, which is a redevelopment of the former St. Louis Mills Mall. Dan Lesinski and Billy Spence of Newmark Zimmer are the leasing agents for Hazelwood Business Park. The development can accommodate tenants ranging in size from 30,000 to 700,000 square feet.

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DevelopmentIndianaMidwestMultifamily

The Life Properties Underway on $6.1M Renovation at Indianapolis Apartment Community

by Kristin Harlow

INDIANAPOLIS — The Life Properties, the property management and construction management affiliate of Olive Tree Holdings, is underway on a $6.1 million capital improvement program at The Life at Harrison Trails in Indianapolis. The project is currently 75 percent leased. Completion is slated for the fourth quarter of 2024. Upgrades include select interior renovations to 302 of the community’s 378 residences as well as upgrades to the office clubhouse and fitness center. Exterior improvements include new paint, repairs to the community’s sidewalk concrete, parking lot, dog park, resident pool, roofing, playground and signage. The project also includes the implementation of a new security system and significant landscaping improvements and cleanup. There are also sustainable upgrades, such as the installation of low-flow plumbing retrofits and LED lighting. The Life at Harrison Trails was built in 1973.

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Market ReportsMidwestMidwest Market ReportsNebraskaRetail

Retailer Growth, Expansion in Metro Omaha Lead to Optimistic Outlook

by Kristin Harlow

By Sara Hanke, The Lerner Co. Eternally optimistic is the state most commercial real estate brokers find themselves in, particularly when it comes to the retail sector. We must be, as the conditions of the retail market are quite often painted in negative broad strokes. The predictions that online sales would be the demise of physical retail proved wrong. Retailers that are digitally native continue to open brick-and-mortar locations after realizing the limits of online customer acquisition and growth.  Most recently, the pandemic has shown us that retail can weather the storm of restrictions and limitations. Now we are in a post-pandemic world where the restrictions and upheaval of the way we consume has shifted our mindset. Shoppers have returned to their daily shopping, eating and entertainment needs. Navigating the complexities of the retail real estate market continues to keep us all on our toes. The first and third quarters were healthy with vacancy dipping below 5 percent. So far, the third quarter has proven strong due to new-to-market concepts looking to do multiple location rollouts as well as existing retailers looking to add additional locations.  As the year progresses, we are not without challenge. There has been a shortage …

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