Inland Private Capital Blazes a Trail in Tax-Oriented CRE Investing Cover Story | March 6, 2024 Pritzker Announces $900M Plan to Rebuild Two Prisons Chicago & Midwest + Illinois + Industrial | March 18, 2024 South Loop Apartment Tower Sells for $144M Chicago & Midwest + Downtown + Apartments | March 18, 2024 FEATURED STORY Chicago & Midwest CRE News In Your Inbox. Sign up for Connect emails to stay informed with CRE stories that are 150 words or less. More Chicago & Midwest Stories More Stories Connect CRE & Industry Events Load MoreMore Events Apartment buildings for saleCheck out the latest properties available on apartmentbuildings.comMorningside Bay ApartmentsMiami, FLFlorida & Gulf Coast + ApartmentsListing Status:AvailableListing Type:Highest & best offerPrice:$7,560,000No. of Units:24Cap Rate:0.63GRM/GIM:18.92Average Occupancy:100Year Built:1974Building Size:20965 Sq ftLot Size:0.44 AcresNo. of Stories:7Zoning Code:T4-0No. of Parking Spots:30Opportunity Zone:NoPrice per unit:$315,000Learn MorePine Ridge ColonyAlbertville , ALAtlanta & Southeast + ApartmentsListing Status:AvailableListing Type:Call for offersPrice:$3,500,000No. of Units:72Year Built:1986Lot Size:3.53 AcresOpportunity Zone:NoPrice per unit:$48,611Learn MoreBeachwood ApartmentsHuntington Beach, CACalifornia & West + ApartmentsListing Status:AvailableListing Type:Call for offersPrice:$8,990,000No. of Units:18Average Occupancy:3.37Lot Size:17625 AcresOpportunity Zone:NoPrice per unit:$499,444Learn MoreView all apartments Hone your competitive edge today with Connect Classroom, an accredited online Continuing Education provider offering CRE focused courses you can take on demand. 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Newmark’s Chuck Johanns, … ULI Recommends Strategies to Decarbonize Chicago Buildings Chicago & Midwest + Downtown + Office | March 15, 2024 The Urban Land Institute Chicago (ULI) has released a new report that calls on the city to take bold measures to reduce the amount of greenhouse gas emissions from buildings. ULI Chicago brought together 50 area stakeholders, including industry experts, civic and community leaders, and public sector officials, to develop recommendations for accelerating building decarbonization. … Latest Greater Chicagoland Stories Lee & Associates of IL Negotiates 210K SF Melrose Park Lease Chicago & Midwest + Greater Chicagoland + Office | March 15, 2024 Lee & Associates, one of the largest national commercial real estate providers in North America, has negotiated a new lease transaction for a 210,524-square-foot industrial building located at 2525 Armitage Avenue in Melrose Park, Illinois. Jeff Provenza, principal, at Lee & Associates’ Illinois office, represented the tenant, CCS Contractor Equipment & Supply LLC. Colin Green … Industrial Outlook “Optimistic for ‘24 and ‘25” (VIDEO) Chicago & Midwest + Greater Chicagoland + Industrial | March 14, 2024 “We’ve been through so much in the industrial market in the past few years; I think we’re at a really short pause.” That’s the summation of David Lockwood, SIOR Global president & EVP and COO with Colliers South Carolina, regarding the current market. Speaking at Connect Industrial Midwest, held earlier this month at Joe’s … Connect TeamSarah QuinnCo-Founder & Vice PresidentPaul BubnySenior Content DirectorJosh OrensteinVice President, News & MediaView AllOur ValuesWe understand that we have different backgrounds, ethnicities, experiences, and geographies, and these differences are what make us unique and bring a variety of perspectives that will shine through.Minority SplitGender SplitLearn More Latest Illinois Stories Pritzker Announces $900M Plan to Rebuild Two Prisons Chicago & Midwest + Illinois + Industrial | March 18, 2024 The state of Illinois plans to spend between $805 million and $935 million over the next three to five years to demolish and rebuild two prisons, including the historic Stateville Correctional Center. Governor JB Pritzker announced the funding that will support projects to rebuild Logan Correctional Center in downstate Lincoln and in Stateville, about 40 … Illinois Launches Campaign to Attract Canadian Businesses Chicago & Midwest + Illinois + Hospitality | March 18, 2024 Intersect Illinois is expanding its “Be in Illinois” campaign to reach Canadian markets, as part of the organization’s efforts to drive the state’s public-private business attraction and economic development. Canada was selected as the first international country to target business attraction by highlighting Illinois as a global business destination, with the right elements to help … Latest Midwest Stories JLL Reps Law Firm in Relocation to New OH Office Space Chicago & Midwest + Midwest + Office | March 18, 2024 JLL recently represented law firm Weltman, Weinberg & Reis Co., in signing a a new 17,875-square-foot lease at Atrium II, located at 5475 Rings Road in the suburb of Dublin, Ohio. The new office space will house more than 80 of the firm’s employees, with an anticipated move-in before September 2024. JLL Senior Managing Director … Midwest Retail Centers Part of KPR’s $180M Portfolio Acquisition Chicago & Midwest + Midwest + Retail | March 15, 2024 Several shopping centers in the Midwest were part of New York-based KPR Centers’ acquisition of an eight-property retail portfolio for $180 million. KPR Centers expanded its presence in the Midwest region through the transaction, which the properties located in Milwaukee and St. Louis as well as Florida. The portfolio is 96 percent leased and … Latest South Side Stories Obama Foundation Breaks Ground on Programs and Athletic Center Chicago & Midwest + South Side + Hospitality | March 15, 2024 Construction continues on the $830 million Obama Presidential Center, and the Obama Foundation recently provided updates on the ongoing project. Crews broke ground on the facility’s Programs and Athletic Center, which will be one of four buildings on the 19-acre campus and will serve as a hub for activities and gatherings on the city’s South … Essex Finalizes Sales of Two South Side Multifamily Properties Chicago & Midwest + South Side + Apartments | March 12, 2024 Chicago-based multifamily brokerage firm Essex Realty Group, Inc. has facilitated the sale of two apartment buildings in Chicago’s Chatham and Brainerd Neighborhoods. Essex’s Berman – Anguiano Team of Robert Berman, Michael Anguiano, Daniel Shabsin, Jeremy DeMarco, and Joe Kahlhammer, exclusively represented both private sellers. “We were able to procure multiple competitive bids from both local … Latest North Side Stories MF Property on Chicago’s North Side Listed for Sale Chicago & Midwest + North Side + Apartments | March 18, 2024 Essex Realty Group, Inc., a Chicago-based multifamily brokerage firm, has been exclusively engaged to market for sale 4356-58 N. Kenmore Avenue. The property, situated in the Buena Park neighborhood on Chicago’s north side, was constructed in 1901 and features 14 apartment units. Listed by Rick Ofman, Kate Varde, and Doug Imber, the property is comprised … Ziegler Advises IL Nonprofit in Sale of Chicago Nursing Facility Chicago & Midwest + North Side + Senior Housing | March 14, 2024 Ziegler, a specialty investment bank based in Chicago, was the exclusive financial advisor in the sale of a skilled nursing facility with more than 100 beds in a northern neighborhood of Chicago. Acting as the advisor to a non-profit Illinois-based seller, Ziegler facilitated the transaction, whichsaw the facility being acquired by a prominent local operator … Latest West Side Stories Interra Brokers $11M Sale of Apartments in East Garfield Park Chicago & Midwest + West Side + Apartments | March 18, 2024 Interra Realty brokered the $11 million sale of Madison Terrace, a 96-unit apartment building at 3121-51 W. Madison Street in Chicago’s East Garfield Park neighborhood. At $115,000, the per-unit price was one of the highest in the last ten years in the immediate submarket. Interra Managing Partners Ted Stratman and Lucas Fryman represented both the … ShainRealty Capital Divests Chicago Apartments for $11M Chicago & Midwest + West Side + Apartments | March 15, 2024 ShainRealty Capital, a Los Angeles privately-owned real estate investment firm, has sold a 96-unit Chicago apartment building, known as Madison Terrace, for $11 million. The transaction marked the firm’s last holding in the Chicago multifamily market. Interra Realty’s Lucas Fryman & Ted Stratman brokered the transaction. ShainRealty, led by brothers Jonathan and Elliot Shainberg, bought … Latest Stories FromMidCap Advisors Hires Paul Kanarek as VP, EducationDirect Investment | March 18, 2024MidCap Advisors, a NY-based M&A advisory firm to private companies, has hired Paul Kanarek as vice president of education. Kanarek brings more than four decades of experience in the areas of strategy, M&A, investor relations and communications. Leveraging his experience assisting global education companies to go public as well as privately refinance, he will lead ...City of Austin Commits $90M to 1st Direct Lending FundAlternative Assets | March 18, 2024The City of Austin Employees’ Retirement System, which oversees $3 billion in assets, hired its first private credit fund with a $90 million commitment. The pension fund is slated to invest 1% to 3% of assets in private credit/direct lending. Initially, the investment is to be classified as fixed income – investment grade credit under ...AS Birch Grove Expands Senior Team with Goldman AlumAlternative Assets | March 18, 2024AS Birch Grove, an alternative investment manager focused on corporate credit opportunities in North America and Europe, appointed Todd Duker as managing director as interest in the collateralized loan obligation (CLO) market continues to rise. Duker brings nearly two decades of experience in structured products and CLOs. He was most recently a senior member of ...Ballistic Blasts Past Target with $360M RaiseAlternative Assets | March 18, 2024Ballistic Ventures, a San Francisco-based firm focused on early-stage cybersecurity and cyber-related companies, closed its oversubscribed $360 million second fund aimed to “fuel the next generation of cybersecurity innovation.” Since the firm’s launch in 2022 and the close of its $300 million maiden fund, it has now invested in 18 companies addressing challenges such as ...