Wednesday, February 11, 2026
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Midwest

DevelopmentIllinoisMidwestMultifamily

Opus Breaks Ground on 167-Unit Luxury Apartment Complex in Downers Grove, Illinois

by Kristin Harlow

DOWNERS GROVE, ILL. — The Opus Group has broken ground on a seven-story, 167-unit luxury apartment complex in the Chicago suburb of Downers Grove. Located at 926 Maple Ave., the project will include 319 parking spaces, 71 of which are dedicated for a neighboring church. Amenities will include work-from-home suites, a clubroom, fitness center, conference room, coffee bar, pool, pet spa and dog run. The project is a joint venture between Opus and Principal Real Estate Investors. Opus is serving as developer, design-builder, interior designer, architect and structural engineer. Greystar will manage the property, completion of which is slated for April 2023.

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IndustrialLeasing ActivityMidwestWisconsin

Haribo Signs 157,656 SF Industrial Lease in Bristol, Wisconsin

by Kristin Harlow

BRISTOL, WIS. — Haribo of America Inc. has signed a 157,656-square-foot, full-building industrial lease at Bristol Highlands Commerce Center in Bristol near the Wisconsin-Illinois border. Chicago-based HSA Commercial Real Estate is the owner and developer. The first phase of Bristol Highlands, which was completed in 2020 and includes a 472,176-square-foot warehouse, is now fully leased. Haribo, known for its gummy bears, plans to occupy the space in the first quarter of 2022. Haribo’s first North American production plant is currently under construction in Pleasant Prairie, which is two miles from Bristol. Whit Heitman, Sam Badger and Jared Paff of CBRE represented Haribo in the lease transaction. Jeff Hoffman of Cushman & Wakefield | Boerke and Eric Fischer of Cushman & Wakefield represented ownership.

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IllinoisLeasing ActivityMidwestRetail

Foxtrot to Open 1,739 SF Market at Chicago’s Tribune Tower

by Kristin Harlow

CHICAGO — Foxtrot, a corner store, café and delivery market, has leased 1,739 square feet at The Shops at Tribune Tower in Chicago. Launched in 2013, Foxtrot offers grocery staples, sommelier-curated wine and locally sourced goods. The Chicago-based company currently operates 15 locations across Chicago, Washington, D.C., and Dallas. The Shops at Tribune Tower consists of 50,000 square feet of retail space that anchors the ground floor of the 36-story Tribune Tower, which is located at 435 N. Michigan Ave. Under the ownership of CIM Group and Golub & Co., the property has been transformed into 162 luxury condominium units. Foxtrot is slated to open in spring 2022.

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DevelopmentIllinoisLife SciencesMidwest

Mark Goodman & Associates to Build 16-Story Life Sciences Development in Chicago

by Kristin Harlow

CHICAGO — Mark Goodman & Associates Inc. has received final approval from the Chicago City Council to build a 16-story life sciences development at 400 N. Elizabeth St. in Chicago’s Fulton Market neighborhood. The project is expected to bring 1,350 high-tech jobs to the city. The ground-up building will be situated on the site of the former Lakeshore Beverage distributorship. Designed by Solomon Cordwell Buenz, the 492,000-square-foot project will include life sciences, biotechnology laboratory and office space. There will be 123 underground parking spaces, a fitness center and a ground-level café. The developer will also build a pedestrian throughway that will connect Elizabeth and Kinzie streets to Ogden Avenue. A timeline for completion was not provided.

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AcquisitionsIllinoisIndustrialMidwestOffice

Chicago’s Bradley Business Center Trades Hands for Nearly $100M

by Kristin Harlow

CHICAGO — Bradley Business Center, an office and industrial complex on Chicago’s North Side, has traded hands. The sales price was nearly $100 million, according to Crain’s Chicago Business. The 23-acre property consists of four buildings totaling 466,871 square feet. The asset is 97 percent leased to 21 tenants. Cody Hundertmark, Tom Sitz, David Knapp, Mike Tenteris, Adam Tyler and Jim Carpenter of Cushman & Wakefield represented the seller, a private venture led by Hansen Realty Group. Hines Global Income Trust Inc. was the buyer.

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AcquisitionsIllinoisIndustrialMidwest

Cushman & Wakefield Brokers Sale of 355 Logistics Center in Lockport, Illinois

by Kristin Harlow

LOCKPORT, ILL. — Cushman & Wakefield has brokered the sale of 355 Logistics Center in Lockport, about 30 miles southwest of Chicago. The sales price was undisclosed. Constructed in 2018, the two-building industrial development spans 611,576 square feet. Both buildings feature a clear height of 32 feet. James Carpenter, Mike Tenteris and Adam Tyler of Cushman & Wakefield represented the seller, Boston-based High Street Logistics Properties. A fund managed by a subsidiary of Ares Management Corp. was the buyer.

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DevelopmentIndustrialIowaMidwest

VanTrust to Develop 496,800 SF Spec Warehouse in Altoona, Iowa

by Kristin Harlow

ALTOONA, IOWA — VanTrust Real Estate is developing a 496,800-square-foot speculative warehouse at Altus Commerce Center in Altoona. The facility is the largest speculative industrial project to be built in Iowa, according to JLL, which is marketing the development for lease. Completion is slated for January 2023. The building will feature a clear height of 36 feet as well as parking for up to 330 cars and 47 trailers. Marcus Pitts, Austin Hedstrom and Tanner Hedstrom of JLL are marketing both this building and VanTrust’s first building at Altus Commerce Center. The first building will span 265,200 square feet and is slated for completion in summer 2022.

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DevelopmentHospitalityMidwestNorth Dakota

New Extended Stay America Suites Hotel Opens in Minot, North Dakota

by Kristin Harlow

MINOT, N.D. — ESH Strategies Franchise LLC has opened the first Extended Stay America Suites hotel in North Dakota. The three-story, 66-room hotel is located in Minot. Elevation LLC is the property owner and National Hospitality Services is the operator. The hotel features a market, onsite bar, business center, meeting space, complimentary breakfast, Wi-Fi and an outdoor pavilion. The 440-square-foot suites are equipped with refrigerators, stovetops, cookware, dishes and walk-in closets.

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AcquisitionsIndianaIndustrialMidwest

Avison Young Brokers Sale of Three Industrial Buildings Totaling 878,410 SF Near Indianapolis

by Kristin Harlow

WHITELAND, IND. — Avison Young has brokered the sale of three industrial buildings totaling 878,410 square feet in Whiteland, a southern suburb of Indianapolis. The sales price was undisclosed. All the buildings are situated within the 2.4 million-square-foot Whiteland Exchange Business Park. The properties are fully leased to e-commerce and packing companies. Erik Foster and Mike Wilson of Avison Young’s Chicago office represented the seller, Jones Development. The duo worked in conjunction with Sean McHale and Peter Seoane of Avison Young’s Indianapolis office. Lexington Realty Trust was the buyer.

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LoansMidwestMinnesotaMultifamily

Ready Capital Closes $39.2M Acquisition Loan for Minneapolis Multifamily Portfolio

by Kristin Harlow

MINNEAPOLIS — Ready Capital has closed a $39.2 million loan for the acquisition, renovation and stabilization of a 332-unit, eight-property multifamily portfolio in Minneapolis. The Class B properties are located in the Loring Park, Stevens Square and Whittier submarkets. The buyer plans to implement a capital improvement program to renovate unit interiors. The nonrecourse loan features a floating rate and a four-year term.

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