Wednesday, May 27, 2026
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AcquisitionsDevelopmentIllinoisMidwestMultifamily

SVN Chicago Commercial Brokers $6M Sale of Multifamily Development Site in Roscoe Village

by Kristin Harlow

CHICAGO — SVN Chicago Commercial has brokered the nearly $6 million sale of an 80,000-square-foot land parcel at 2221 W. Oakdale Ave. in Chicago’s Roscoe Village neighborhood. Developer Zev Salomon of ZSD Dorp. purchased the site with plans to transform the long-vacant parcel into a 35-unit row home community called RiverWard Row Homes. Wayne Caplan and Adam Thomas of SVN Chicago represented the undisclosed seller, while Matthew Lucas of Accretive LLC and Kale Realty represented the buyer. The deal took more than a year to close due to a zoning change and coordination with the Army Corps of Engineers on river access, according to Caplan.

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DevelopmentIllinoisIndustrialMidwest

CRG Begins Development of 85,680 SF Spec Industrial Facility in Cicero, Illinois

by Kristin Harlow

CICERO, ILL. — CRG has begun development of The Cubes at Cicero, an 85,680-square-foot speculative industrial facility in Cicero, just west of Chicago. The project at 5401 W. Roosevelt Road will feature a clear height of 32 feet, 16 dock-high loading doors, two drive-in doors and approximately 2,000 square feet of office space. Thomas Rodeno, Patrick Turner and Sean Austin of Colliers will market the development for lease. DSI is the general contractor. Lamar Johnson Collaborative, CRG’s integrated architecture and design firm, is the project architect.

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Leasing ActivityMichiganMidwestRestaurantRetail

Okika Hawaiian BBQ Signs 1,420 SF Retail Lease in Flat Rock, Michigan

by Kristin Harlow

FLAT ROCK, MICH. — Okika Hawaiian BBQ has signed a 1,420-square-foot retail lease to open in Flat Rock, a southern suburb of Detroit. The Dunkin’-anchored property is located at the southwest corner of Telegraph and Vreeland roads. Michael Murphy of Gerdom Realty & Investment represented the landlord, Shango Properties. Norman Abro of Keystone Commercial Real Estate represented the tenant.

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AcquisitionsHospitalityIndianaMidwest

Huff, Niehaus & Associates Arranges Sale of 119-Room Hampton Inn Hotel Near Louisville

by Kristin Harlow

CLARKSVILLE, IND. — Huff, Niehaus & Associates Inc. has arranged the sale of the 119-room Hampton Inn Louisville-North/Clarksville hotel in Clarksville, a northern suburb of Louisville. The sales price was undisclosed. The property at 1501 Broadway St. is situated near downtown Louisville and the Kentucky International Convention Center. Kingdom Broadway LLC purchased the asset from HHB LLC. The new ownership, which owns eight hotels, plans a comprehensive renovation of the property.

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AcquisitionsIndianaMidwestMultifamily

Marcus & Millichap Negotiates $3.7M Sale of Multifamily Portfolio in Muncie, Indiana

by Kristin Harlow

MUNCIE, IND. — Marcus & Millichap has negotiated the $3.7 million sale of a 49-unit multifamily portfolio in Muncie. The portfolio includes Randy’s Court, a 24-unit townhome community at 222 W. Centennial Ave. that was built in 1978; and Streeter Court Apartments, a 25-unit multifamily property at 111 E. Streeter Ave. that was built in 1994. Aaron Kuroiwa and Austin Meeker of Marcus & Millichap represented the seller, Streeter25 LLC, and procured the buyer, Deed Holdings – 5050 LLC.

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AcquisitionsIllinoisMidwestMultifamily

SVN Chicago Commercial Brokers $2.8M Sale of Apartment Building in Bucktown Neighborhood

by Kristin Harlow

CHICAGO — SVN Chicago Commercial has brokered the $2.8 million sale of a fully leased apartment building located at 1555 N. Milwaukee Ave. in Chicago’s Bucktown neighborhood. The property features 17 apartment units and one street-level retail space. Wayne Caplan and José Colón of SVN Chicago Commercial represented the seller. The asset sold to a local apartment owner at a cap rate of 6.88 percent. The deal closed within 5 percent of the asking price in under three months.

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AcquisitionsDevelopmentKansasMidwestRestaurantRetail

Vietnam Cafe to Open Second Location in Overland Park, Kansas

by Kristin Harlow

OVERLAND PARK, KAN. — Vietnam Cafe will open its second location at 9500 W. 135th St. in Overland Park. Bill Maas of Block & Co. Inc. Realtors represented the seller in the transaction. The Vietnamese restaurant’s first location is at 522 Campbell St. near the River Market in Kansas City. The menu features authentic pho, as well as dishes from chicken, beef, shrimp and vegetarian options. The new restaurant will occupy the 4,075-square-foot former Beef-A-Roo space. The property will undergo construction, with a proposed open date to be determined.

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Affordable HousingDevelopmentIllinoisMidwestMultifamily

Related Midwest, KABOOM! Unveil Resident-Designed Playground at Chicago Affordable Housing Property

by Kristin Harlow

CHICAGO — Related Midwest, the Related Affordable Foundation and Related Affordable Management Co. have opened a newly renovated playground at Marshall Field Garden Apartment Homes in Chicago’s Old Town neighborhood. Related partnered with KABOOM!, a national nonprofit, to construct the playground at the 628-unit affordable housing community. Residents, volunteers, Related team members and community partners built the playground on July 23 and 24. The project’s completion comes nearly two months after Related and KABOOM! hosted a design day at the community, where children and adult residents shared visions for the playspace. There are more than 17,000 KABOOM! playspaces nationwide. Related led a $175 million renovation of Marshall Field Garden Apartment Homes following its acquisition of the property in 2016.

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DevelopmentIndustrialMidwestOfficeOhioRetail

IRG Begins Redevelopment of 1.4 MSF Former Joann Headquarters Campus in Hudson, Ohio

by Taylor Williams

HUDSON, OHIO — Industrial Realty Group (IRG) has begun the redevelopment of the 1.4 million-square-foot former headquarters campus of fabrics retailer Joann in Hudson, located roughly midway between Cleveland and Akron. The 130-acre campus currently features industrial and office space, as well as undeveloped land. IRG plans to redevelop the campus to support uses such as corporate headquarters, distribution, research and development, manufacturing and retail, through both ground-lease and build-to-suit opportunities. In addition, the company will rebrand the campus as Hudson District and has tapped CBRE as the leasing agent. Joann filed for Chapter 11 bankruptcy in 2024 and earlier this year announced that it would begin closing all its retail stores.

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LoansMidwestMultifamilyOhio

ACRES Capital Provides $72M Refinancing for Multifamily Portfolio in Columbus, Ohio

by Kristin Harlow

COLUMBUS, OHIO — ACRES Capital has provided a $72 million loan for the refinancing of the GVX Portfolio, a collection of three multifamily properties in Columbus. The assets include 8 on the Park, Midpoint East and Midpoint West. The portfolio features 347 units and 51,138 square feet of retail space that are part of a larger development known as Grandview Crossing. Thrive Cos. was the borrower.

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