Chicago & Midwest

Tree Street Group, together with development partners Magellan Development Group and Mark Goodman & Associates, has closed on construction financing for 410 N. Elizabeth, a 33-story high-rise in Chicago’s Fulton Market neighborhood. It will be Chicago’s first all-electric, geothermal multifamily high-rise and represents the first phase of a two-tower, mixed-use development. Financing included a senior …

JLL has secured a $275 million refinancing and a $57 million mezzanine financing for NEMA Chicago, a luxury multifamily tower and the city’s tallest all-rental residence. JLL represented the borrower, Crescent Heights, in facilitating the five-year, fixed-rate loan through New York Life Insurance Company. JLL also arranged the mezzanine loan through PGIM’s real estate business. …

Bradford Allen has executed two recent leases with Illinois Retina in the Chicago market. The medical services provider signed a 16,228-square-foot lease in Skokie, Illinois and an 8,728-square-foot lease in Munster, Indiana, 30 miles southeast of Chicago. Craig Nadborne, executive managing director, brokerage services at Bradford Allen, negotiated the leases on behalf of Illinois Retina. …

Lee & Associates of Illinois has closed a $5.18 million sale transaction for a 39,879 square-foot building located at 1951 Lively Boulevard in Elk Grove Village, Illinois. Dustin Albers, senior vice president at Lee & Associates’ Illinois office, represented the buyer, Sonica International, Inc., a global logistics company. “Sonica International required a warehouse that could …

Marcus & Millichap announced the sale of a net-leased restaurant property occupied by Storming Crab in Rockford, Illinois. “This offering generated significant investor interest due to the property’s strong operating performance, prime location and the limited supply of comparable retail assets in the market,” said Brian Parmacek, managing director of investments. “The asset received multiple …

Marcus & Millichap announced the sale of a LA Fitness-anchored, four-suite retail property in Mundelein, Illinois. The property sold for $13.97 million. Marcus & Millichap Capital Corporation, a subsidiary of Marcus & Millichap, arranged $9.78 million in acquisition financing. “The Sharko | Weisenbeck | Mendoza Group was the second broker to list this deal, speaking …

Colliers completed the sale of Gray Industrial Center Building 2, a newly completed 302,400-square-foot industrial facility at 530 Logistics Drive in Shelbyville, Kentucky, approximately 30 miles east of Louisville. The build-to-suit distribution facility is fully leased to Kuehne+Nagel, a global logistics provider. Colliers Industrial Capital Markets advisors Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse …

Nicholas & Associates, the construction management and general contracting arm of the Nicholas Family of Companies, has been selected by Moyer Properties as the general contractor for Aster Flats, a 263-unit, three-building luxury rental community set on a 4.86-acre site in Madison, Wisconsin. The ground-up development is the latest in Nicholas & Associates’ Wisconsin portfolio, …

BWE has secured $38.92 million to refinance 194 units of Woodland Park by the Lake, a 240-unit gated condominium community in the Bronzeville neighborhood of Chicago, Illinois. Ryan Morris, vice president, and Max Miller, analyst, both in BWE’s Chicago office, originated the five-year Freddie Mac loan on behalf of the sponsor, a joint venture between …

Chicago-based multifamily brokerage firm Essex Realty Group has been engaged to market for sale 825 E. 61st Street, a newly constructed 60-unit multifamily property located directly across from the University of Chicago campus at the intersection of Hyde Park and Woodlawn. Given the high demand for quality rental housing in the area, this property is …

Essex Realty Group and Essex Capital Markets announced the closing of Wilson Manor, a 33-unit multifamily property located at 3348 W. Wilson Avenue in Chicago’s Albany Park neighborhood. The property sold for $7.6 million, a $200,000 premium over the listing price. Originally renovated in 2008, Wilson Manor offers a unit mix consisting primarily of two-bedroom …

Altitude Capital Partners, a Chicago-based real estate development and investment firm, in partnership with Shanna Collective, has acquired 1447 N. Dearborn Street — historically known as The Dearborn — for $10 million. The building holds a notable chapter in Chicago’s architectural and cultural history. Originally a 50-room long-term-stay hotel constructed before 1925, it was later …

Arrow Real Estate Advisors recently arranged a $14.2 million refinance for The Ash, a newly delivered 40-unit multifamily property in Chicago’s Wicker Park neighborhood. The financing was secured as the property continued its lease-up, with occupancy already exceeding 70%, reflecting strong demand for newly delivered multifamily product in one of Chicago’s most competitive rental markets. …

Interra Realty brokered the $5.1 million sale of 2156 and 2158 W. 21st St., a two-building, 24-unit vintage multifamily portfolio in Chicago’s Pilsen neighborhood. The deal equated to $212,500 per unit. Interra Managing Director Jeremy Morton represented the confidential buyer, as well as the private seller. The properties were fully occupied at the time of …

Waymo has acquired a 5,500-acre autonomous vehicle proving ground in Wittmann, Arizona, for $220 million. Apple, the previous owner, paid $125 million for it in 2021. The facility was the centerpiece of Apple’s self-driving car program, which has since been discontinued. The facility had also been used as a test facility for Fiat Chrysler. It …

After acquiring Comerica Bank last May in a $10.9 billion deal, Fifth Third Bank plans to establish its Texas headquarters at Preston Center, near the Dallas North Tollway and Northwest Highway intersection. D Magazine reports Fifth Third also plans to exit its lease at Comerica Bank Tower in downtown Dallas, a high-rise Comerica relocated to from Detroit …

The Midwest multifamily markets have been among the leaders in annual rent growth for the past few years, attracting investors and developers. At the recent Connect Midwest Multifamily Trends 2026 event in Chicago, hundreds of industry professionals gathered to hear insights into the opportunities and challenges facing the sector across the region. In a panel …

JLL arranged the $50.5 million sale and secured acquisition financing for the Midwest Distribution Portfolio, a strategically positioned collection of four industrial properties totaling 608,316 square feet across the Minneapolis and Milwaukee metropolitan areas. JLL represented the seller, Biynah Industrial Partners, in the transaction. Working on behalf of the new owner, JLL also secured the …

CBRE announced the opening of its new 19,500-square-foot office on the fifth floor at 10 W. Nationwide Blvd., a trophy office building within the Arena District owned and developed by Nationwide Realty Investors in downtown Columbus, Ohio. The firm has relocated from 200 Civic Center Drive. The new office is part of CBRE’s Workplace360 program, …

U.S. grocer Kroger has reached a $1.65 billion deal to buy regional supermarket chain Giant Eagle, strengthening its presence in the Midwest and the Mid-Atlantic region. The transaction includes $1.25 billion in cash and the assumption of approximately $400 million in outstanding liabilities. Giant Eagle, which is privately held, has 197 supermarkets and 11 standalone …

JLL has completed the sale of a fully leased, four-property medical building portfolio in the Greater Kansas City area. JLL worked on behalf of several different physician groups, Orthopedic Health of Kansas City, Kansas City Urology Care PA and Sunflower Medical Group, to complete the off-market sale to Montecito Medical. JLL’s Capital Markets’ Medical Properties …

Milhaus has received approval from the Missouri Housing Development Commission for Low-Income Housing Tax Credits to advance Linwood & Troost Apartments in Kansas City. The project will convert two vacant lots at 3200 Troost Ave. into a 100% affordable residential development featuring two four-story buildings with 194 units. The project marks Milhaus’s first Low-Income Housing …

Cresa announced that Julie Northcutt-Dunn joined as president, markets, a newly created executive role focused on driving growth across Cresa’s market operations through strategic planning, operational excellence and organic growth initiatives. She will be based in Cresa’s Chicago headquarters. Northcutt-Dunn joins from Colliers, where she was recently executive managing director, overseeing Chicago, Indianapolis, Kansas City, …

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Indianapolis-based Milhaus has completed a merger with one Southern California-based multifamily company and has agreed to acquire another. The merger of Milhaus with SRG Residential forms a national, vertically integrated platform focused on developing, owning, and managing apartment communities in more than 20 top U.S. apartment markets. In addition, Milhaus has agreed to acquire Los …

Colliers announced the sale of a six-building industrial portfolio totaling 954,072 square feet located throughout the Northwest, Northeast and Southwest submarkets of the Indianapolis metropolitan area. The portfolio includes properties at 7555 Woodland Drive, 7645 Woodland Drive, 5350 Lakeview Parkway and 7601 Winton Drive in Indianapolis, as well as 12001 Exit 5 Parkway in Fishers …