Midwest

Interra Realty Arranges $10.7M Sale of Apartment Building in Chicago’s Lincoln Park

by Kristin Harlow July 10, 2025

CHICAGO — Interra Realty has arranged the $10.7 million sale of a 22-unit apartment building located at 811 W. Lill Ave. in Chicago’s Lincoln Park neighborhood. The vintage asset features four one-bedroom, 12 two-bedroom and six three-bedroom units. Floor plans average 1,078 square feet. Constructed in 1901, the property has been recently updated with new finishes as well as in-unit laundry and individual HVAC. Brad Feldman of Interra represented the buyer, a Chicago-based private investor. Joe Smazal of Interra represented the seller, a local private investor and developer.

July 10, 2025

Acquisitions Illinois Midwest Retail

Mid-America Brokers Sale of 67,146 SF Retail Center in Oak Brook, Illinois

by Kristin Harlow July 10, 2025

OAK BROOK, ILL. — Mid-America Real Estate Corp. has brokered the sale of The Oaks of Oak Brook, a 67,146-square-foot retail center in the Chicago suburb of Oak Brook. The property was 98 percent leased at the time of sale to tenants such as Athletico, Activate Games, NxStage Kidney Care, Blackberry Market, Erik’s Bike Board & Ski and OrthoLazer. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Newport Capital Partners. The asset sold to a private buyer.

July 10, 2025

Leasing Activity Michigan Midwest Retail

SweatHouz Signs Retail Leases to Open Two New Locations in Michigan

by Kristin Harlow July 10, 2025

ANN ARBOR AND ROCHESTER HILLS, MICH. — SweatHouz has signed retail leases to open new locations in Ann Arbor and Rochester Hills. SweatHouz is a chain of studios that offers infrared saunas, cold plunges and other wellness services. Jason and Amy Hanley are the area developers for SweatHouz in Michigan and have signed on to open 17 locations across the state. SweatHouz currently has 50 locations open and operating across the country and another 50 in permitting or construction phases. The Ann Arbor facility will total 2,628 square feet at 3143 Ann Arbor Saline Road, and the Rochester Hills location will span 2,130 square feet at 1495 N. Rochester Road. Both will serve as outparcels to Meijer stores. The tenant group also owns six Orange Theory locations in Michigan. Norman Abro of Keystone Commercial Real Estate brokered the leases.

July 10, 2025

Industrial Iowa Market Reports Midwest Midwest Market Reports

Des Moines Industrial Market Starts to Chip Away at Vacancies

by Kristin Harlow July 10, 2025

By Harrison Kruse and Ned Turner, CBRE As we near the second half of 2025, the Des Moines industrial market is starting to see a shift in fundamentals, as new deliveries and the pipeline of new big-box speculative warehouse product have come to a complete halt. Like many cities in the upper Midwest post-COVID, the Des Moines MSA saw an influx of out-of-state developers backed by institutional capital go ground up with new big-box product when the economy was stimulated by the Federal Reserve reducing the federal funds rate below 1 percent. This resulted in historically compressed treasury yields and an abundant amount of liquidity injected into the capital markets. This effect on the national economy escalated consumer demand for e-commerce and locally, ag-related products, which are the state of Iowa’s most valuable export on an aggregate basis. The Des Moines MSA between 2021 and 2024 had more than 6.8 million square feet of new industrial space delivered to the market, which is about 10.2 percent of the total market size on a square-foot basis. During those years, net absorption increased on an annual basis between 800,000 and 1.5 million square feet. Pre-COVID, Des Moines’s average net absorption was between …

July 10, 2025

Troy Marek Regions Real Estate Capital Markets quote from article

Content Partner Features Leasing Activity Loans Midwest Multifamily Northeast Regions Real Estate Capital Markets Seniors Housing Southeast Texas Western

Multifamily, Seniors Housing Sectors Remain Positive Real Estate Performers

by Sarah Daniels July 10, 2025

By Troy Marek, Regions Real Estate Capital Markets As we embark on the second half of 2025 amid some economic uncertainty, there are two bright spots within real estate. Both the multifamily and the seniors housing/healthcare sectors boast strong fundamentals and occupancies. RealPage data indicates 138,302 apartment units were absorbed in the first quarter, and NIC MAP data shows a seniors housing occupancy increase to 87.4 percent, or 621,000 occupied units over the same period. This suggests strong demand in both critical housing sectors, at the same time new supply is slowing. Interest Rates Drive Lending Activity Agencies Freddie Mac, Fannie Mae and HUD remain the primary loan providers supporting these two asset classes today. Unsurprisingly, interest rates heavily impact lending activity. Since the Federal Reserve decided to hold rates steady in May, sector experts have been closely watching employment and inflation data, as well as tariff impacts, as all three have the power to influence the Fed to lower rates later this year. With the Federal Reserve deciding to hold rates as-is in June, industry players will continue to keep an eye on the data. Once rates are brought down some, perhaps later this year, multifamily and seniors housing/healthcare …

July 10, 2025

Acquisitions Development Midwest Multifamily Ohio

Vision Cos. Acquires 28.5-Acre Multifamily Development Site in Kettering, Ohio

by Kristin Harlow July 9, 2025

KETTERING, OHIO — Vision Cos. has acquired 28.5 acres within the Miami Valley Research Park (MVRP) in Kettering, an inner suburb of Dayton. The property is adjacent to Industrial Commercial Properties’ (ICP) Sixth River office park. As part of the Sixth River overall master plan, Vision plans to build a market-rate multifamily community, the first large multifamily project built in the city since the mid-1980s, according to a release. Known as VC Flats, the project will feature approximately 264 apartment units across nine three-story buildings. Proposed amenities include a clubhouse, fitness center, pool, sand volleyball court, outdoor patio and rooftop deck offering views of the adjacent lake. The project is made possible through collaborative efforts by the city and ICP, which played a role in zoning adjustments and crafting incentive packages to attract a residential developer and operator. MVRP is home to several major employers, including Reynolds & Reynolds, Solvita, Matrix Research, Resonant Sciences, Woolpert, Resonetics and Eastman Kodak. ICP continues to retain ownership of the adjacent Sixth River office park, which includes 290,000 square feet of office space across five buildings. ICP also has additional land sites for further commercial development opportunities within the research park.

July 9, 2025

Acquisitions Kansas Midwest Office

Copaken Brooks Sells 147,000 SF Office Building in Overland Park, Kansas

by Kristin Harlow July 9, 2025

OVERLAND PARK, KAN. — An investment entity led by Copaken Brooks has agreed to sell 6201 College Boulevard, a landmark office building located at the intersection of Lamar Avenue and College Boulevard, to the City of Overland Park. The city plans to convert the 147,000-square-foot building into its future city hall. The sale is expected to close in the fourth quarter. Originally developed in 1990 by Copaken White and Blitt as the national headquarters for the NCAA, the property continues to serve as a multi-tenant office facility. While the ownership will change, Copaken Brooks will remain the property manager, as the city does not manage commercial buildings. The city will begin planning its transition of the space in the coming years.

July 9, 2025

Acquisitions Healthcare Midwest Missouri

Marcus & Millichap Arranges $6.3M Sale of St. Louis Medical Office Property

by Kristin Harlow July 9, 2025

ST. LOUIS — Marcus & Millichap has arranged the sale of a 62,856-square-foot medical office property located at 5500 S. Broadway St. in St. Louis for $6.3 million. The building was constructed in 2001 and previously operated as the Riverview Nursing Facility. Dan Yozwiak and Darpan Patel of Marcus & Millichap represented the undisclosed buyer, which plans to renovate and repurpose the building as a behavioral health center. The seller was a local husband-and-wife ownership group.

July 9, 2025

Acquisitions Illinois Midwest Multifamily Retail

SVN Chicago Commercial Brokers $2.7M Sale of Apartment, Retail Building in Windy City

by Kristin Harlow July 9, 2025

CHICAGO — SVN Chicago Commercial has brokered the $2.7 million sale of a 9,267-square-foot apartment and retail building in Chicago’s Ukrainian Village neighborhood. The fully rehabbed property at 1859 W. Chicago Ave. features six apartment units and one retail tenant, a veterinarian office on the ground floor. Drew Dillon and Scott Maesel of SVN Chicago Commercial represented both the buyer and seller.

July 9, 2025

Acquisitions Illinois Industrial Midwest

Venture One Purchases 26,173 SF Industrial Building in Tinley Park, Illinois

by Kristin Harlow July 9, 2025

TINLEY PARK, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 26,173-square-foot industrial building at 18531 Spring Creek Drive in the Chicago suburb of Tinley Park. The property was vacant at the time of acquisition. Situated in the North Creek Business Center, the building offers direct access to I-80 via Harlem Avenue. The property sits on 1.8 acres and features a clear height of 19 feet, two docks, two drive-in doors and parking for 56 vehicles. Venture One plans to make improvements such as office renovations, warehouse painting, parking lot resurfacing and the installation of energy-efficient lighting. Bruce McConnell of Savills represented the seller. Michael O’Leary, Dylan Maher and Ryan Earley of Lee & Associates have been retained to market the building for lease or sale. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

July 9, 2025

Newer Posts

Older Posts