ALSIP, ILL. — Quantum Real Estate Advisors Inc. has negotiated the sale of a roughly 43,000-square-foot flex industrial property in Alsip for an undisclosed price. Located at 4800-4824 129th St., the property was fully leased to a mix of local tenants at the time of sale. Dan Waszak of Quantum represented the buyer, a Cincinnati-based investor. Joseph Coombes of Market Commercial Real Estate represented the seller, an Indianapolis-based group.
ROSELLE, ILL. — Rieder NA, a manufacturer of concrete facades, has signed a 30,300-square-foot industrial lease at 20 Presidential Drive in Roselle within the North DuPage submarket. Jeff Janda and Mike Plumb of Lee & Associates of Illinois represented Tripar International Inc., which owns and occupies the rest of the 63,978-square-foot building. David Haigh of NAI Hiffman represented the tenant.
BUFFALO GROVE, VERNON HILLS AND ELGIN, ILL. — Westmount Realty Capital has sold a light industrial portfolio in metro Chicago comprising 17 buildings and 925,391 square feet. The portfolio is located within the Lake County and Northern Fox Valley submarkets. Westmount owned and managed the assets for over five years. There are 13 assets in Buffalo Grove and Vernon Hills as well as four properties in Elgin. At the time of sale, the portfolio was 94 percent leased to 154 tenants. New leases with notable tenants included Volkswagen, Subaru of America, Blackjack Lighting, Nexus Pharmaceuticals and American Molecular. Constructed between the late 1980s and early 2000s, the buildings feature an average office finish of approximately 50 percent. Over $6.5 million in total building improvements were completed during the hold period, including modification to reduce office area to meet the demand of the market. The buyer and sales price were undisclosed. Westmount owns and manages 51 buildings totaling nearly 5 million square feet throughout the Chicago market.
MUNCIE, IND. — Regency Properties has acquired Muncie Towne Plaza, a 173,773-square-foot shopping center in Muncie. The purchase price and seller were undisclosed. Developed in 1997 and renovated in 2005, Muncie Towne Plaza was fully leased at the time of sale. Key tenants include Kohl’s, TJ Maxx, Old Navy, Ulta Beauty and Shoe Carnival. The property includes a 1.1-acre undeveloped land site immediately adjacent to Old Navy. Regency plans to develop the parcel following consideration of what represents the greatest opportunity between a single- or multi-tenant space. The parcel can accommodate a 50,000-square-foot development. Regency says the purchase underscores its acquisition philosophy as a “county seat” community retail property investor. County seat communities are defined as towns that typically serve as the hub for business, local government, recreation and shopping for a surrounding rural area.
ST. LOUIS — LEDG Capital has begun a $5.5 million renovation of Ridge Crest Apartments, an 84-unit affordable housing community in the Marine Villa neighborhood of St. Louis. The project will preserve the apartments as affordable housing for the next 30 years. The 12-month renovation effort will update all units at the 60-year-old community, address the capital needs of its three buildings, improve amenities and strengthen security at the property. The project will also continue to support an ongoing program of supportive services, after-school enrichment and community events. The Industrial Development Authority of the City of St. Louis provided private activity bonds to support the renovation effort, while the Missouri Housing Development Commission approved Low-Income Housing Tax Credits and the U.S. Department of Housing & Urban Development approved a new project-based Section 8 contract. Citibank NA served as the primary lender, and Walker & Dunlop Inc. was the equity partner. Interior scope upgrades will include new cabinets and countertops, vinyl plank flooring, kitchen and bathroom fixtures, appliances, interior paint, new HVAC and water heating systems, new LED lighting fixtures and mobility upgrades to five units. The exterior scope of work will include reroofing all buildings, replacing gutters and downspouts, repairing …
WHEELING, ILL. — Principle Construction has completed the renovation of the Heartland Animal Shelter, which was damaged by a water main break in June 2024. The 8,205-square-foot facility is located at 586 Palwaukee Drive in the Chicago suburb of Wheeling. The shelter provides a temporary home for over 100 animals as they await adoption or fostering. The renovation project included a 601-square-foot office, 850-square-foot surgery room, 66 square-foot donation room and parking for 23 vehicles. During the flood, the shelter’s animals were cared for in foster homes. Heartland Animal Shelter is a no-kill shelter with a 96 percent adoption rate. Designhaus was the project architect.
GREEN BAY, TWO RIVERS AND MADISON, WIS. — Starbucks has signed three new retail leases in Wisconsin. The tenant leased 2,460 square feet at 1555 W. Mason St. in Green Bay, 2,262 square feet at 1509 Washington St. in Two Rivers and 2,665 square feet at 1609 S. Park St. in Madison. Tony Colvin of Mid-America Real Estate represented Starbucks in all of the leases. The landlords included Military Avenue Partners, DCOLE TR LLC and 1609 S Park St LLC.
MINNEAPOLIS — JLL Capital Markets has arranged the sale and financing of Rafter Apartments in Minneapolis. Located at 333 E. Hennepin Ave. and built in 2019, the 26-story property features 283 luxury units. Amenities include a rooftop pool and sundeck, fitness center, clubroom, coworking spaces and a maker’s room. Josh Talberg, Matthew Lawton, Joseph Peris and Kevin Girard of JLL represented the seller, a joint venture between Mortenson, The Excelsior Group and an institutional partner. Brandon Smith, Annie Rice and Scott Loving of JLL originated a Fannie Mae acquisition loan on behalf of the buyer, Roundhouse.
MARYSVILLE, MICH. AND MILWAUKEE — An affiliate of Phoenix Investors has acquired two industrial properties totaling roughly 2.3 million square feet and 145 acres in Michigan and Wisconsin for an undisclosed price. The facilities are located at 840 Huron Blvd. in Marysville, Mich., and 3280 S. Clement Ave. in Milwaukee. Both were previously owned by FCA US LLC, a wholly owned subsidiary of global automaker Stellantis, which leases both buildings. Phoenix’s portfolio now exceeds 80 million square feet nationwide. Tony Avendt and Jeff Hoffman of Cushman & Wakefield brokered the sale.
CHICAGO — Habitat has completed the lease-up of OC Living Phase I, the first residential building within the $200 million Ogden Commons community in Chicago’s North Lawndale neighborhood. Located at 1325 S. Washtenaw Ave., the building features 92 units, 90 percent of which are affordable, including 37 Chicago Housing Authority (CHA) units. Simultaneously, Habitat has closed financing and finalized a 75-year ground lease for OC Living Phase II at nearby 1312 S. Talman Ave. The $38 million building is scheduled to open in the second quarter of 2026, delivering an additional 75 units with 76 percent of them reserved as affordable housing, including 30 CHA-designated residences. Site preparation is underway. Amenities will include a children’s tot lot, bike racks, walking path, package room, resident lounge, fitness center and bike room. A planned third phase of OC Living is expected to feature townhome and multi-flat units, which will feature larger units designed for families. Habitat intends to break ground on Phase III in the second half of 2026 or early 2027. Once completed, Ogden Commons will feature 120,000 square feet of commercial and retail space with more than 350 mixed-income housing units. Designed by Habitat, along with Sinai Chicago and the …