Saturday, February 7, 2026
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Midwest

DevelopmentIllinoisIndustrialMidwestOffice

GoldCoast Logistics Group Breaks Ground on $15M Headquarters in Elgin, Illinois

by Kristin Harlow

ELGIN, ILL. — GoldCoast Logistics Group (GCLG) has broken ground on its new $15 million headquarters at 1425 Madeline Lane in Elgin, about 35 miles northwest of Chicago. The 61,888-square-foot facility will include a 38,000-square-foot warehouse and 23,000 square feet of office space. PANCOR Construction & Development LLC is the developer, architect and general contractor. NAI Hiffman assisted GCLG in its site selection. Spurred by the rise of e-commerce, GCLG was founded in 2010 and has grown from two employees in Wood Dale to 700 employees in Elgin, Florida and Arizona. The company’s truck fleet has more than quadrupled over the past three years. The new headquarters will feature a rooftop deck, two-story atrium, four break rooms, workout areas and a half-sized basketball court. There will be 26 dormitory rooms for truck drivers who need overnight accommodations. The warehouse will feature a clear height of 30 feet and parking for 40 trucks and cars. Construction is slated for completion in December.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentMidwestMultifamilyWisconsin

M&R Development Completes Phase I of Milwaukee-Area Luxury Apartment Project

by Kristin Harlow

ST. FRANCIS, WIS. — M&R Development has completed Phase I of 42 Hundred On The Lake, a 236-unit luxury apartment project in St. Francis, about five miles south of downtown Milwaukee. Located at 4200 S. Lake Shore Drive, the development overlooks Lake Michigan. Units range from 583 to 1,204 square feet. Monthly rents range from $1,208 to $3,350. Pre-leasing has begun for Phase II, with move-ins for those apartments scheduled to begin in June. Amenities include a clubhouse, coffee bar, business center, game room, fitness center, package room, pet spa and two courtyards. The pool is scheduled to open in May. M&R co-developed the project with Campbell Capital Group LLC. RMK Management will oversee leasing and property management.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisIndustrialLeasing ActivityMidwest

Global Logistical Connections Signs 100,000 SF Industrial Lease in Channahon, Illinois

by Kristin Harlow

CHANNAHON, ILL. — Global Logistical Connections LLC has signed a 100,000-square-foot industrial lease at Route 6 Business Center, which is located at 23647 W. Eames St. in Channahon, about 50 miles southwest of Chicago. The company is relocating and expanding from its current 17,000-square-foot space at 60 Rawls Road in Des Plaines. The new lease commences in June. Route 6 Business Center is a 442,000-square-foot building that features a clear height of 36 feet, 75 exterior docks, 88 trailer spots, 60-foot loading bays and two drive-in doors. Ned Frank of Colliers International Chicago represented the tenant in the lease transaction. David Bercu, Charles Canale and Kataline Villalpando of Colliers represented ownership, Clarion Partners.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

Friedman Brokers Sale of 69,584 SF Shopping Center in Pekin, Illinois

by Kristin Harlow

PEKIN, ILL. — Friedman Real Estate has brokered the sale of Broadway Village Shopping Center in Pekin, about 10 miles south of Peoria. The 69,584-square-foot property, built in 1970, is located on Broadway Street. Dollar General is the sole tenant in the center, which at the time of sale was only 8 percent occupied. Kyle Simon of Friedman brokered the sale. Buon Properties LLC purchased the asset from Cohen Development Co.

Continue Reading
FacebookTwitterLinkedinEmail
Theobald 2021 transaction volume
Content PartnerFeaturesLeasing ActivityMidwestMultifamilyOfficeRetailSoutheastTexasWalker & DunlopWestern

Walker & Dunlop: U.S. Economy Displays Long-Term Signals for Recovery, Growth

by Sarah Daniels

Back to Normal? The U.S. economy has improved significantly since April 2020, the peak of the pandemic-induced recession. The national unemployment rate stood at 6.0 percent in March of this year, well below the peak of 14.8 percent in April 2020. Companies were effective in implementing work-from-home technology, keeping unemployment rates for office-based service sectors relatively low. For those with a bachelor’s degree or higher, unemployment rates were only 3.7 percent as of March 2021. In 2020, third-quarter GDP growth made up much of the second-quarter losses, followed by 4 percent annualized economic growth in the fourth quarter. Retail sales also rebounded quickly, returning to pre-pandemic levels by June and continuing to increase through the beginning of 2021. However, the U.S. economy is still far from “normal.” Of the 22 million people who lost jobs in March and April 2020, only 57.8 percent had regained employment by March 2021. Stronger growth should return jobs to industries hit hardest during the pandemic. In March of this year, restaurants and bars added 176,000 jobs; arts, entertainment and recreation venues added 64,000 jobs and accommodations added 40,000 jobs. Still, employment in the overall leisure and hospitality sector is down by 3.1 million, or 18.5 …

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwestMultifamily

Lendlease, Magellan Begin Pre-Leasing at Cascade Luxury Apartment Tower in Chicago

by Kristin Harlow

CHICAGO — Lendlease and Magellan Development Group have begun pre-leasing at Cascade, a 37-story, 503-unit luxury apartment tower in Chicago’s Lakeshore East neighborhood. First move-ins are expected this summer, coinciding with the opening of the adjacent Cascade Park, a publicly accessible green space that will connect the property to the lakefront and Chicago Riverwalk. Floor plans will range from 509 to 1,332 square feet. Monthly rents for studios will start at $1,650, $2,050 for one-bedrooms, $3,300 for two-bedrooms and $5,750 for three-bedrooms. Cascade will offer more than 45,000 square feet of indoor and outdoor amenity space across three levels. The building’s 32nd floor features a terrace overlooking Navy Pier and Lake Michigan. The design team includes bKL Architecture for the tower and Claude Cormier + Associés for the park. Cascade residents who plan to transition into homeownership can take advantage of a program that enables them to sign a contract for a condo at Cirrus, the adjacent 47-story, 350-unit condominium tower. Half of the rent paid (up to 2.5 percent of the purchase price) can be recouped as a credit at closing.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMidwestOhioRetail

CBRE Brokers Sale of 1.4 MSF SouthPark Mall in Suburban Cleveland

by Kristin Harlow

STRONGSVILLE, OHIO — CBRE’s National Retail Partners Midwest Team has brokered the sale of SouthPark Mall in Strongsville, a suburb of Cleveland. The sales price was undisclosed. The 1.4 million-square-foot regional mall is located at 500 Southpark Center. Anchor tenants include Dick’s Sporting Goods, Cinemark, Kohl’s, Macy’s, Dillard’s and JC Penney. CBRE represented the seller, a private equity firm. Kize Capital LP and Spinoso Real Estate Group purchased the asset and plan to implement a repositioning program.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisMidwest

EQ Office Reopens Skydeck Chicago at Willis Tower

by Kristin Harlow

CHICAGO — EQ Office has reopened Skydeck Chicago at Willis Tower to the public after completing an extensive redevelopment. The attraction’s lower level features an interactive museum that celebrates the history of Chicago’s neighborhoods and sites. The observation deck, situated on the 103rd floor, features The Ledge, four glass floor balconies extending from the tower. The attraction uses a timed ticketing system with capacity limits and safety guidelines in accordance with Chicago’s latest COVID-19 regulations. EQ Office, operator of Willis Tower, developed the project. Skidmore, Owings & Merrill, Thinc Design, Clark Construction Group and Chicago Scenic Studios made up the project team.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisIndustrialLeasing ActivityMidwest

Yahee Technologies Signs 306,918 SF Industrial Lease in Bensenville, Illinois

by Kristin Harlow

BENSENVILLE, ILL. — Yahee Technologies has signed a 306,918-square-foot industrial lease at 1010 Foster Ave. in Bensenville. Mark Baumhart of Lee & Associates represented the owner, Prologis. Terry Herlihy of NAI Hiffman represented the tenant, which is relocating from Arlington Heights.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsMichiganMidwestMultifamily

Marcus & Millichap Arranges $4.2M Sale of Manufactured Home Community in Michigan

by Kristin Harlow

NORTON SHORES, MICH. — Marcus & Millichap has arranged the $4.2 million sale of Bel Air Estates in the western Michigan town of Norton Shores. The 116-site manufactured home community is located at 2481 W. Sherman Blvd., one mile from Muskegon Beach. Glenn Esterson and Vasili Arvanitidis of Marcus & Millichap marketed the asset on behalf of the seller, a limited liability company. Dylan Hellberg, Glenn Esterson and Parker Kelly of Marcus & Millichap secured and represented the buyer, a limited liability company.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts