Saturday, November 22, 2025
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Midwest

AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $12.5M Sale of Walmart-Occupied Retail Property in Metro Chicago

by Kristin Harlow

ROLLING MEADOWS, ILL. — Marcus & Millichap has brokered the $12.5 million sale of a 130,200-square-foot retail property occupied by Walmart in the Chicago suburb of Rolling Meadows. Built in 2000 and renovated in 2016, the single-tenant property sits on 9.8 acres at 1460 Golf Road. Walmart, which recently signed a long-term lease extension with an absolute net structure backed by a corporate guarantee, has occupied the space for nearly 25 years. Ashish Vakhariya, Seth Haron, Darin Gross and Steven Weinstock of Marcus & Millichap represented the private equity fund seller and procured the institutional buyer.

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Leasing ActivityMidwestOhioRetail

Dick’s House of Sport Opens 100,000 SF Store at SouthPark Mall Near Cleveland

by Kristin Harlow

STRONGSVILLE, OHIO — Dick’s House of Sport has opened at SouthPark Mall in Strongsville, marking the first location of the retailer’s experiential concept in greater Cleveland. The two-level, 100,000-square-foot store transforms the former Sears anchor space into a destination for sports enthusiasts. Dick’s House of Sport offers customers the opportunity to try, practice and play in-store. The location features a rock-climbing wall, outdoor field, batting cages and golf simulators. Attached to the store is a field that will be used for open play, clinics, league space and as an ice rink in winter months. Dick’s Sporting Goods relocated from its former 55,000-square-foot location within the center. Owner Spinoso Real Estate Group acquired SouthPark Mall in 2021.

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AcquisitionsAffordable HousingMidwestMinnesotaMultifamily

Colliers Negotiates $11.2M Sale of Affordable Housing Community in Metro Twin Cities

by Kristin Harlow

ALBERTVILLE, MINN. — Colliers has negotiated the $11.2 million sale of Albertville Meadows, a 75-unit affordable housing community in the Twin Cities suburb of Albertville. Built in 1993, the property is located along I-94. The asset benefits from Minnesota’s new 4d(1) property tax classification, effective 2025, which implemented a major tax reduction for affordable housing properties. Mox Gunderson, Dan Linnell, Adam Haydon and Devon Dvorak of Colliers represented the seller, Dominium. The buyer was undisclosed.

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IllinoisIndustrialLeasing ActivityMidwest

Perfection Servo Hydraulics Signs 15,840 SF Industrial Lease in St. Charles, Illinois

by Kristin Harlow

ST. CHARLES, ILL. — Perfection Servo Hydraulics, an automation machinery manufacturing and repair company, has signed a full-building industrial lease for 15,840 square feet at 3940 Swenson Ave. in St. Charles. Luke Dummitt of Brown Commercial Group represented the tenant, which is part of SunSource, a North American equipment manufacturing, repair and fabrication business that maintains its primary Illinois facility in Addison. Eric Schneider and Joel Friedland of Brit Properties represented the undisclosed landlord. Perfection’s previous storage location in Batavia was sold. Additionally, the company sought more space for its equipment storage needs.

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IllinoisLeasing ActivityMidwestOffice

Zurich Signs 52,000 SF Lease to Relocate Downtown Chicago Office to Willis Tower

by Kristin Harlow

CHICAGO — Zurich North America has signed a 52,000-square-foot office lease at Willis Tower, which is located at 233 S. Wacker Drive in Chicago. Zurich, a global insurer, will occupy floors 53 and 54, relocating its downtown Chicago office from 300 S. Riverside Plaza. The new office will feature innovative workplace design and technology to enable collaboration within a hybrid environment. Zurich’s primary North American headquarters will remain in Schaumburg, Ill., where the company launched its U.S. operations in 1912. Zurich is expected to transition to Willis Tower in summer 2026. Todd Mintz of JLL represented Zurich in the lease. Nikki Kern of The Telos Group LLC represented the landlord, Perform Properties.

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AcquisitionsMidwestMultifamilyWisconsin

Marcus & Millichap Brokers Sale of 48-Unit West Side Apartments in Mauston, Wisconsin

by Kristin Harlow

MAUSTON, WIS. — Marcus & Millichap has brokered the sale of West Side Apartments, a 48-unit multifamily property in Mauston, a city in central Wisconsin. The newly constructed asset is situated on 7.4 acres at 702 Loomis Drive near the Wisconsin Dells market and two of the state’s largest lakes. There are 24 one-bedroom and 24 two-bedroom condo-style units across 48,336 rentable square feet. Matthew Whiteside of Marcus & Millichap represented the seller, Mauston 80 LLC, and procured the buyer, Greenfeather Twenty-Eight LLC.

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CivicDevelopmentMidwestMinnesota

Kraus-Anderson Breaks Ground on $18.9M Fire, Ambulance Headquarters in Cloquet, Minnesota

by Kristin Harlow

CLOQUET, MINN. — Kraus-Anderson Construction has broken ground on a new $18.9 million fire and ambulance headquarters serving the Cloquet Area Fire District in Cloquet, a city in northeastern Minnesota. Designed by LHB Architects, the 35,700-square-foot facility will feature an eight-stall apparatus bay for ambulance, fire and rescue vehicles and equipment. The building will house a two-story administrative and dormitory area, training tower and elevator. The first floor will include offices, conference rooms, a training room, fitness room and personal protective equipment storage. The second floor will include 11 dorms, a kitchen, dining room and day room. A new paved area will be used for training. The project is slated for completion by December 2026.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 67,565 SF Industrial Building in Glendale Heights, Illinois

by Kristin Harlow

GLENDALE HEIGHTS, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 67,565-square-foot freezer/cooler building in the Chicago suburb of Glendale Heights. The property at 601 Wall St. was fully leased at the time of sale to KeHE Distributors, a specialty food distributor. Situated in the High Grove Business Park, the building offers direct access to I-355 via Army Trail Road. The precast facility was constructed in 1991 and expanded in 2005. The asset features clear heights ranging from 22 to 37 feet, 10 exterior docks, four drive-in doors and parking for 10 trailers. There is 38,087 square feet of freezer space with glycol floors, 16,139 square feet of production space and 3,594 square feet of cold docks. Will McCormack and John Huguenard of JLL represented the seller, LBA Logistics. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

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Leasing ActivityMidwestMissouriRestaurantRetail

Streats Opens 1,389 SF Restaurant in Downtown Kansas City

by Kristin Harlow

KANSAS CITY, MO. — Streats, a local restaurant known for its Mexican street tacos as well as Birria tacos and ramen, has opened at the Skyline Collection in downtown Kansas City. Located at 1111 Main, Streats occupies 1,389 square feet on the ground floor in the former KC Mac and Co. space. The lease marks the restaurant’s second Kansas City location. Streats joins Jason’s Deli, Banksia and Fat Bee at the Skyline Collection. Erin Johnston of Copaken Brooks represented the landlord on an internal basis. The Skyline Collection, which includes the 1111 Main and 1201 Walnut office towers, is nearing full retail occupancy.

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AcquisitionsBuild-to-RentMidwestMinnesotaSingle-Family Rental

CBRE Negotiates Sale of 66-Unit Build-to-Rent Community in Maple Grove, Minnesota

by Kristin Harlow

MAPLE GROVE, MINN. — CBRE has negotiated the sale of Mills Creek, a 66-unit build-to-rent community in the Twin Cities suburb of Maple Grove. Curtis Capital Group purchased the property from a joint venture between Watermark and PCCP for an undisclosed amount. CBRE’s Ted Abramson, Keith Collins and Abe Appert represented the seller. Built in 2019, the asset features detached homes averaging 1,679 square feet. Amenities include a clubroom, business center, pool, dog park, fitness center, community garden and walking trails.

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