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Pacific Retail Capital Partners, the owner of Lombard’s Yorktown Center, is suing The Fresh Market for upwards of $15 million for bailing on plans to open a new store at the suburban Chicago mall. In the lawsuit filed Monday in DuPage County Circuit Court, Pacific Retail, the Los Angeles-based Yorktown Center…
CHICAGO — Related Midwest has begun leasing for the North Tower of 400 Lake Shore Drive, a 72-story apartment tower in Chicago’s Streeterville neighborhood. Once complete in March 2027, the 857-foot high-rise will deliver 635 rental apartments on the waterfront site. The North Tower comprises two distinct rental…
CHICAGO — Tree Street Group, along with partners Magellan Development Group and Mark Goodman & Associates, have begun construction of 410 N. Elizabeth, a two-tower high-rise community in Chicago’s Fulton… The post Tree Street Group, Partners Break Ground on Chicago High-Rise appeared first on Multifamily &…
CIC has rehabbed nearly 70,000 units through roughly 2,800 loans totaling $1.8B since 1984.
Village officials in the Chicago suburb of South Barrington are taking steps to create a tax increment financing district to raise funds for the redevelopment of Allstate’s former headquarters. The new TIF district would earmark funds to pay for new infrastructure and other upgrades for the site’s redevelopment, as…
Chicago-based Vequity’s plan to redevelop portions of the former Pheasant Run Resort site in St. Charles is still up in the air after the City Council punted a decision on a preliminary plan for two weeks. Debate over aspects of the plan are key to city approval — including the amount of drive-thrus and uncertainty…
CHICAGO HEIGHTS, ILL. — MAG Capital Partners has acquired a 240,000-square-foot property that serves as the primary headquarters and manufacturing facility for Applied Acoustics International (AAI), a VisTech Manufacturing Solutions business and portfolio company of Angeles Equity Partners. AAI is a Tier 1 supplier…
JLL and Sterling Bay announced a $213 million refinancing for 360 North Green, a newly constructed, 500,000-square-foot office tower in Chicago, Illinois. JLL worked on behalf of the borrower, institutional investors advised by J.P. Morgan Asset Management and Sterling Bay, to secure the three-year loan from…
CHICAGO — Specialty investment bank Ziegler has advised on the sale of a three-community senior living portfolio located in Minnesota. Ziegler acted as advisor to the seller, a nonprofit organization. Affiliates… The post Ziegler Advises on Sale of Three Minnesota Communities appeared first on Seniors Housing…
Chicago’s suburban multifamily market is off to a strong start in the second half of the year as new supply lags and experienced investors trade properties. Just last week, two suburban apartment complexes traded for $78 million, public records show. The deals come after the second quarter finished on a high note…
CHICAGO — Related Midwest has begun leasing the north tower of 400 Lake Shore Drive, a 72-story community in Chicago’s Streeterville neighborhood. Full completion is slated for March 2027. The… The post Related Midwest Begins Leasing Chicago Tower appeared first on Multifamily & Affordable Housing Business .
Related Midwest announced the start of leasing for the North Tower of 400 Lake Shore Drive, the 72-story residential tower in Chicago’s Streeterville neighborhood. Once complete in March 2027, the 857-foot high-rise will deliver 635 rental apartments. “This is more than a residential tower; it is a revitalization…
Metropolis is considering converting NBC Tower's offices into apartments, with partner support and other commercial real estate deals in the Chicago area.
Daniel Management Group (DMG), a Chicago-based real estate firm focused on multifamily investment and management, has been awarded a new management assignment for The Quarry. The property was developed by Sterling Hall Capital and offers 154 luxury apartments in Fox Lake, Illinois, a northwest Chicago suburb. The…
The owner of the NBC Tower at 455 Cityfront Plaza wants to renovate a dozen floors in the mid-rise portion of the 37-story tower into apartments. Metropolis Investment Holdings, who represents the German investor who owns the property, has partnered with Chicago-based Riverside Investment & Development on the…
La Caisse’s gamble on turning around its two-building Chicago riverfront office complex is starting to pay off. The Canadian pension fund’s real estate arm lured a new renter in Chicago-based private equity investment manager Adams Street Partners, which signed a long-term lease for 46,000 square feet at 120 South…
A joint venture of Branch Capital Partners and Oaktree Capital Management bought a 109-unit Chicago apartment complex on the 606 trail for $41 million from Chicago-based LG Development Group. The property, called Trailhead Apartments, sits at 1744 North Western Avenue, according to Crain’s. The deal for the…
CHICAGO — Newmark has brokered the sale of a 51,795-square-foot retail condominium at 919 N. Michigan Ave. along Chicago’s Magnificent Mile. Louis Vuitton is the anchor tenant and has occupied space at the property for more than 20 years. The luxury retailer recently completed a renovation and expansion of its…
CHICAGO — JLL Capital Markets has secured a $213 million refinancing for 360 North Green, a 500,000-square-foot office tower in Chicago’s Fulton Market. Lucas Borges, Geoff Goldstein, Danny Kaufman, Kelly Gaines, Emma Berner and Ryan Planek of JLL secured the three-year loan through Barings on behalf of the…
Mike Kohan is under scrutiny for his use of funds tied to Chicago office skyscraper purchases. The mall landlord magnate, who has recently turned his attention to the Windy City’s depressed office market as a persistent buyer, allegedly diverted millions in bond proceeds to cover debts on his personal assets,…
Highland Park, IL and Overland Park, KS round out the top three. Demand from highly compensated employees of the San Francisco Bay Area’s AI companies earns Noe Valley the No. 7 spot among Redfin’s hottest luxury neighborhoods this year. Strong demand, despite elevated costs, is outpacing supply in many high-end…
HOUSTON – (Realty News Report) – Stotan Industrial, a national real estate development firm based, in Chicago, has acquired 20 acres near George Bush Intercontinental Airport where it will build its first industrial project in Houston. The new development, called Stotan Crossings 45, will break ground in the third…
Marcus & Millichap arranged the sale of 5655 West Fullerton Avenue, a mixed-use property featuring 24 multifamily units and four retail suites, in the Belmont Cragin neighborhood of Chicago. “Belmont Cragin continues to attract investor interest due to its strong transportation connectivity, with convenient access…
L3 Capital closed on its purchase of the retail space at the base of the Palmolive Building for $64.5 million, finalizing a deal The Real Deal reported the firm was pursuing earlier this summer. The Chicago private equity firm, cofounded by Domenic Lanni and Timothy Phair, acquired the 51,795-square-foot property…
FRANKLIN, TENN. — Waterton, a Chicago-based real estate investor and operator, has acquired Wyndchase Aspen Grove in Franklin. The Nashville Business Journal reports the sales prices was approximately $128 million… The post Waterton Buys Metro Nashville Asset for $128M appeared first on Multifamily & Affordable…
Grabbing the reins hasn’t kept Shai Wolkowicki in the saddle. When the Boca Raton, Florida-based investor ousted former partner Chikoo Patel in early 2025 and took control of their troubled apartments portfolio through his firm Ruby Development Group, he inherited an operational mess. Now, the bill for that…
The redevelopment of the former Mars Wrigley factory has not been as easy as taking candy from a baby. Plans to convert the shuttered factory at 2019 N. Oak Park Ave. in Galewood have stalled after a series of contentious public meetings.
Skender has started the 500 N. Michigan Avenue adaptive reuse project, a transformative conversion of a 400,000-square-foot office tower into 320 residential units on Chicago’s Magnificent Mile. Developed by Connecticut-based Commonwealth Development Partners and designed by GREC Architects, the 24-story building…
Chicago — Walker & Dunlop Inc. has arranged a $555.6 million loan for the refinancing of a 14-property student housing portfolio totaling 4,295 units and 10,454 beds across nine states.… The post Walker & Dunlop Arranges $555.6 Million Refinancing for 14-Property Student Housing Portfolio appeared first on Student…
Pacific Retail Capital Partners defaulted on a $107.4 million loan backed by the Yorktown Center mall in Lombard, sending the suburban Chicago mall toward a deed-in-lieu of foreclosure. Los Angeles-based Pacific’s floating-rate commercial mortgage-backed securities debt transferred to special servicer KeyBank on…
CHICAGO AND MINNEAPOLIS — Cabot Properties has sold the North Central Portfolio, a collection of 11 industrial buildings totaling roughly 2.5 million square feet across the greater Chicago and Minneapolis markets. A global asset manager purchased the portfolio, which includes assets both developed and acquired by…
CHICAGO — Skender has begun construction on the 500 N. Michigan Ave. adaptive reuse project, which will convert the 400,000-square-foot office tower into 320 apartment units on Chicago’s Magnificent Mile. The project team includes Connecticut-based Commonwealth Development Partners and GREC Architects. Completion…
Marcus & Millichap announced the sale of a 134-unit multifamily portfolio in Berwyn and Maywood, Illinois. “This transaction highlights the continued demand for multifamily assets in western Cook County, where investors remain attracted to strong suburban fundamentals and convenient access to Chicago,” said Sam…
As room rates at the world’s poshest properties push past $2,000 a night, Karim Alibhai has been snapping up high-profile luxury hotels. Alibhai has built an $8 billion portfolio that includes properties from Chicago to Bermuda to Costa Rica. His company, Gencom, this year paid $320 million for the Ritz-Carlton New…
Cabot Properties, a global investor, developer, and operator of logistics properties, today announced the successful disposition of the North Central Portfolio, a collection of 11 modern industrial properties totaling approximately 2.5 million square feet across key industrial submarkets in Greater Chicago and…
🏆Alteration: The largest alteration filing last week was in Hyde Park, where The University of Chicago secured permits totaling $10 million for work at 5207 South Harper Avenue. Hyde Park Labs is a life sciences incubator developed in collaboration with The University of Chicago, Trammell Crow and Beacon Capital…
An earlier post described how the top ten builders in the country accounted for 43.6% of new single-family closings in 2025. BUILDER magazine has now released additional data on the top ten builders within each of the 50 largest new home markets in the U.S., ranked by single-family permits. It is important to note…
Two local buyers snagged Northside apartment buildings last week for a combined $60 million, public records show. In one sale, the influential Wirtz Family offloaded a long-held property to a pair of local investors for $34 million and in the other, local firm Becovic Chicago bought a property for $26 million from…
A company with ties to multifamily investor Jonathan Holtzman is putting the Fisher Building at 343 South Dearborn Street up for sale just weeks after losing a separate apartment building in Chicago’s Loop. The Fisher Building boasts 184 apartment units across 20 stories, and marketing materials related to the…
MonticelloAM, along with a firm affiliate, closed a bridge loan for an apartment complex in McHenry, Illinois. The transaction was brought to MonticelloAM by Trent Niederberger of JLL Chicago. MonticelloAM Senior Managing Director Darryl Myrose worked with the JLL Chicago team on the origination of the transaction.…
After months of heated debate about the redevelopment of the historic 20-acre Mars candy factory in Chicago, Ald. Chris Taliaferro hit the reset button on discussions between the community and developer. “Our meetings thus far have not been productive in that they have been controversial in nature,” Taliaferro told…
CHICAGO — Associated Bank has provided a $28.3 million loan to a joint venture between North Park Ventures and SNS Realty Group for the development of a transit-oriented apartment property on North Sheffield Avenue in Chicago. The loan included funds for the acquisition of the former Tortenson Glass Co., which…
CHICAGO — Kiser Group has brokered the $16.3 million sale of a 65-unit apartment building located at 4601-17 N. Dover St. in Chicago’s Sheridan Park neighborhood. The transaction marks the fifth consecutive sale of the property within a brokerage history spanning nearly three decades involving Kiser brokers. The…
The legal headaches are mounting for Chicago real estate investor Shai Wolkowicki. Trusts represented by U.S. Bank Trust NA launched three foreclosure suits in Cook County Chancery Court targeting South Side residential properties managed by Wolkowicki’s firm, Ruby Development Group. The filings, submitted between…
CHICAGO — Associated Bank has provided a $29.4 million loan to a joint venture of North Park Ventures and SNS Realty Group for the development of a transit-oriented project at… The post Associated Bank Supplies $29.4M Acquisition and Development Loan for Chicago TOD appeared first on Multifamily & Affordable…
Ventas has acquired a 136-unit senior living community in Ventura County, Calif., for $56.54 million, according to records with PropertyShark. The transaction closed July 15 for more than $415,700 per unit. JLL Capital Markets represented the seller, Chicago-based Harrison Street Asset Management, and announced the…
Associated Bank announced the completion of a $28.35 million loan to a joint venture of North Park Ventures and SNS Realty Group for development of a new transit-oriented residential development in Chicago. The loan included funds for acquisition of the former Tortenson Glass Co. which consists of nearly 30,000…
With the purchase of the Hawthorne Race Course complete and the new owner’s seeming lack of interest in keeping racing alive in the Chicago area, the nearby town of Cicero is bracing for a controversial scenario: a data center. Cicero officials are expected to consider two anti-data center resolutions when they…
CHICAGO — Mid-America Real Estate Corp. has negotiated the sale of Lincoln Park West, a 37,615-square-foot retail asset located in Chicago’s Lincoln Park neighborhood. The property offers value-add potential through the lease-up or adaptive reuse of the 19,531-square-foot second floor. Tenants include PNC Bank,…
Fulton Market's metamorphosis from a meatpacking hub into the place to be for young, well-paid professionals continues to evolve, even as a tough capital markets environment complicates investment across the city. The area's strong fundamentals continue...
Chicago investor Igor Gabal cleared another hurdle in his effort to partially convert a heavily-discounted loop office building into a data center. Greenwich, Connecticut-based alternative investment firm, Strategic Value Partners, inked a deal last week to partner with Gabal on the conversion of 300 West Adams…
As lawmakers in the House of Representatives appear to be zeroing in on the partnership between Compass and a Chicago-area multiple listing service, regional MLSes are bracing for potential fallout from the scrutiny of antitrust concerns. Representatives from the residential brokerage behemoth and Midwest Real…
Summary and analysis of Chicago’s suburban current economic and office real estate market conditions.
東京の大丸有・日八京エリアでおなじみの複合再開発が米国でも注目されている。ニューヨーク・マンハッタンのハドソンヤードや、シカゴのフルトンマーケットは多様な用途の不動産が集積し、「職住遊」が近接したライフスタイルを提供している。JLLでは複合再開発で成功を遂げたエリアを「ライフスタイル地区」と定義した。
Related Midwest finished up the crown installation on the North Tower at 400 Lake Shore Drive, the tallest building in Chicago that’s currently under construction. Construction on the building is set to be completed in spring 2027, according to a press release. The tower has reached its target height, 72 stories…
More and more companies that vacuumed up Chicago area warehouse space during the pandemic are now shedding capacity. Available warehouse space vacancies inched up to 5 percent from 4.9 percent over the course of the quarter, according to Crain’s, who cited real estate data firm Colliers. The vacancy rate has been…
Chicago’s real estate summer for residential shoppers is looking to get hotter, and maybe even abbreviated. Scarce availability in competitive markets continued to push prices upwards into the summer as Illinois median home prices reached $345,000 in June, a 6.2 percent annual increase, with fewer homes on the…
🏆Alteration: The largest alteration permit issued last week was in Lakeview for $27 million of infrastructure renovation work at 655 West Irving Park Road. The project at the co-op building includes replacing water risers, waste and vent piping, and HVAC piping, as well as installing new ceilings on three floors.…
Legal troubles for Chicago real estate investor Jiazhao “Frank” Chen are multiplying as the South Side landlord was named in another foreclosure lawsuit filed late last week involving three Bridgeport properties. The lawsuit is over a defaulted loan payment of nearly $820,000 against Best Credit Investment LLC, an…
Clear Investment Group, a Chicago-based real estate investment firm, has acquired Woodland Estates, a 300-unit multifamily community in Southeast Washington, D.C. The acquisition marks the firm’s second investment in the Washington metropolitan area, bringing its regional portfolio to nearly 1,000 apartment units.…