Midwest

McShane, Ashlaur Complete 96-Unit Mixed-Income Apartment Complex in Chicago

by Kristin Harlow July 23, 2025

CHICAGO — McShane Construction Co. and Ashlaur Construction have completed Westhaven Park Station, a 96-unit mixed-income apartment complex located on Chicago’s Near West Side. Brinshore Development and The Michaels Organization developed the 12-story property. The project marks the final phase of redevelopment of the former Henry Horner Homes complex and satisfies the requirement to replace all affordable units that were lost when the homes were demolished. McShane built a 113-unit condominium building as part of Phase I of the Westhaven Park development in 2006. Westhaven Park Station features three retail spaces on the ground floor. Units are offered in one- and two-bedroom layouts. Sixty-six percent of the units are affordable, while the remainder are market rate. Amenities include a fitness room, rooftop deck, parking, package room and conference room. LBBA provided architectural services.

July 23, 2025

Acquisitions Illinois Industrial Midwest

Colliers Arranges Sale of 100,400 SF Logistics Center in Mount Prospect, Illinois

by Kristin Harlow July 23, 2025

MOUNT PROSPECT, ILL. — Colliers has arranged the sale of a 100,400-square-foot last-mile logistics facility in Mount Prospect for an undisclosed price. The property at 350 N. Wolf Road features a clear height of 32 feet, 12 exterior truck docks and paved parking. Jeff Devine, Steve Disse and Tyler Ziebel of Collieres represented the seller, a joint venture between Stotan Industrial and PCCP LLC. An institutional investor purchased the asset. The site was formerly home to an office building, which Stotan demolished to make way for the facility. Completed in early 2024, the property is fully leased to OnTrac, an e-commerce logistics provider.

July 23, 2025

Acquisitions Illinois Midwest Multifamily

Kiser Group Brokers $6M Sale of Multifamily Property in Chicago’s Uptown Neighborhood

by Kristin Harlow July 23, 2025

CHICAGO — Kiser Group has brokered the $6 million sale of a multifamily property located at 1132-1140 W. Wilson Ave. in Chicago’s Uptown neighborhood. Originally completed as an adaptive reuse project in 2015, the asset was fully occupied at the time of sale. The building is located one block from the Chicago Transit Authority and across the street from Truman College. CedarSt sold the property to J&J Equities. Katie LeGrand and Jacob Price of Kiser Group brokered the transaction, which closed two months after the property was brought to market.

July 23, 2025

Acquisitions Development Kansas Midwest Restaurant Retail

Block & Co. Sells Retail Development Site in Overland Park, Kansas to Hyper Energy Bar

by Kristin Harlow July 23, 2025

OVERLAND PARK, KAN. — Block & Co. Inc. Realtors has sold a retail development site at Oak Park Mall in Overland Park to Hyper Energy Bar, an Iowa-based drive-thru chain. Hyper Energy Bar sells energy drinks with caffeine, caffeine-free and sugar-free options. The 1.2-acre pad site is adjacent to tenants IHOP, Paris Baguette and Bank of America. Hyper Energy Bar is slated to open in the first quarter of 2026. Daniel Brocato and David Block of Block & Co. represented the landlord, while Pat Coppinger of Colliers represented the tenant.

July 23, 2025

Acquisitions Midwest Minnesota Multifamily

Waterton Acquires 30-Story Apartment Tower in Downtown Minneapolis

by Kristin Harlow July 22, 2025

MINNEAPOLIS — Waterton has acquired 365 Nicollet, a 30-story apartment tower with 370 units in downtown Minneapolis. The seller was a joint venture between Opus Development Co. and Corebridge Real Estate Investors. Opus constructed, designed and developed the property in 2018. Located at 365 Nicollet Mall in the city’s Gateway District, the building features studios, one-, two- and three-bedroom units. There are 50 penthouse units. Amenities at the property include a fitness center, yoga studio, sauna, relaxation room, outdoor pool, entertainment kitchen, recreation lounge, coworking space, golf simulator, pet spa and dog run. Waterton plans to implement a light value-add renovation program across residences and common areas. Plans call for refreshed furniture, fixtures and equipment, as well as new flooring and equipment in the fitness center. Ted Abramson, Abe Appert and Keith Collins of CBRE represented the seller.

July 22, 2025

Acquisitions Illinois Industrial Midwest

JLL Brokers Sale of 289,847 SF Industrial Property in Vernon Hills, Illinois

by Kristin Harlow July 22, 2025

VERNON HILLS, ILL. — JLL Capital Markets has brokered the sale of a two-building industrial property totaling 289,847 square feet in the Chicago suburb of Vernon Hills. Named the Woodlands Light Manufacturing Center, the facilities on Woodlands Parkway are fully leased to Kanaflex Corp. The properties feature clear heights ranging from 19 to 29.5 feet, 12 dock-high doors, six drive-in doors, LED lighting and 247 parking spaces. Ed Halaburt and Kurt Sarbaugh of JLL represented the seller, High Street Logistics Properties. Centaur Capital Partners and Talos Capital LLC purchased the property.

July 22, 2025

Acquisitions Industrial Midwest Self-Storage Wisconsin

EquiCap Commercial, NAI Pfefferle Negotiate Sale of 215-Unit Self-Storage Portfolio in Wisconsin

by Kristin Harlow July 22, 2025

ARBOR VITAE, ST. GERMAIN AND EAGLE RIVER, WIS. — EquiCap Commercial and NAI Pfefferle have negotiated the sale of Freedom Storage, a self-storage portfolio located in northern Wisconsin. The portfolio consists of three sites totaling 44,300 net rentable square feet across 12 buildings with 215 drive-up units. The sites are located at 11019 Highway 70 in Arbor Vitae, 5881 Highway 70 in St. Germain and 1878 Collins Court in Eagle River. Scott Rihm and Jesse Luke of EquiCap brokered the transaction along with Jonathan Glassco of NAI Pfefferle.

July 22, 2025

Acquisitions Illinois Midwest Multifamily

Essex Arranges $3M Sale of Three-Building Multifamily Portfolio in Chicago

by Kristin Harlow July 22, 2025

CHICAGO — Essex Realty Group LLC has arranged the $3 million sale of a three-building multifamily portfolio totaling 55 units in Chicago’s West Chatham neighborhood. The three-story properties feature six studios, 26 one-bedroom units, 12 two-bedroom units and four three-bedroom apartments as well as eight commercial spaces. Joe Kahlhammer of Essex brokered the transaction. The seller was a long-term local owner.

July 22, 2025

Leasing Activity Midwest Office Ohio

CBRE Opens 17,500 SF Office at Oswald Tower in Cleveland

by Kristin Harlow July 22, 2025

CLEVELAND — CBRE has opened its new 17,500-square-foot office on the eighth floor of Oswald Tower at 950 Main Ave. in Cleveland’s Flats neighborhood. The firm has relocated from the second floor of the same building, where it provides leasing and property management services. The new office is part of CBRE’s Workplace360 program, which features innovative technology and a variety of collaborative spaces designed to support hybrid working. CBRE has opened more than 100 Workplace360 offices across the globe. CBRE has been an anchor tenant at the Cleveland office tower since the property was built in 2013.

July 22, 2025

Development Midwest Multifamily Wisconsin

Inland Completes 261-Unit Evoni Apartments in Milwaukee’s Historic Third Ward

by Kristin Harlow July 21, 2025

MILWAUKEE — Inland Real Estate Investment Corp. has completed Evoni Apartments in Milwaukee’s Historic Third Ward district. Inland completed the 261-unit luxury apartment project in a joint venture with Kaeding Development Group LLC. Located adjacent to the Henry Maier Festival Park and Lake Michigan, the five-story property features 60 studios, 122 one-bedroom units, 66 two-bedroom units and 13 three-bedroom residences. Amenities include a pool, rooftop lounge, sky deck, outdoor fire pits, a community recreation room, fitness center, yoga room, indoor sauna, dog park, pet washing station and package room. The project marks the fourth investment and second ground-up multifamily development of which Inland Investments has partnered with Kaeding.

July 21, 2025

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