Advocate Inks Loop HQ Lease, Stream Realty Represents Landlord Chicago & Midwest + Downtown + Office | October 2, 2023 Best Western Hotel Sale in WI Brokered by Marcus & Millichap Chicago & Midwest + Midwest + Hospitality | October 2, 2023 Walgreens CIO Hsiao Wang Is Latest Exec to Leave Drugstore Chain Chicago & Midwest + Greater Chicagoland + Healthcare | October 2, 2023 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 Hone your competitive edge today with Connect Classroom, an accredited online Continuing Education provider offering CRE focused courses you can take on demand. Earn the credit you need with engaging, thoughtfully designed courses for commercial real estate brokers, appraisers, lenders, architects, and lawyers from a news source you already know and trust. 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A collaborative approach brings out your company’s stories that are shaped and crafted with the perfect visual, the right words and in the most dynamic way. Connect with Creative Latest Downtown Stories Advocate Inks Loop HQ Lease, Stream Realty Represents Landlord Chicago & Midwest + Downtown + Office | October 2, 2023 Advocate Commercial Real Estate Advisors, a full-service commercial real estate company, has relocated its Chicago headquarters to the 14th floor of 145 S. Wells. The firm will lease 5,980 square feet in the West Loop building. Moceri + Roszak designed, developed, and owns the 20-story property. Stream Realty Partners Managing Director Mark Bâby and Executive … Fulton St. Cos. Secures $233M Loan for 11-Story Office Building Chicago & Midwest + Downtown + Apartments | September 29, 2023 Chicago-based Fulton Street Companies (FSC) has secured financing for the company’s newest development at 919 West Fulton Street. Founder and CEO Alex Najem reached an agreement with SNK Capital, led by Shanna Khan, to serve as the lead equity investment partner on the project. Financing will be provided by Bank OZK and Manulife, with development … Latest Greater Chicagoland Stories Walgreens CIO Hsiao Wang Is Latest Exec to Leave Drugstore Chain Chicago & Midwest + Greater Chicagoland + Healthcare | October 2, 2023 Bloomberg reported that Walgreens Boots Alliance’s Chief Information Officer Hsiao Wang is the latest executive to leave the drugstore chain, citing an internal memo. According to interim Chief Executive Officer Ginger Graham, Wang had been on leave and was no longer with the company effective immediately. Walgreens is actively searching to fill multiple C-suite roles … Northbrook Marriott Recapitalizes with $6M C-PACE Loan Chicago & Midwest + Greater Chicagoland + Hospitality | September 29, 2023 PACE Loan Group’s SVP Matthew McCormack arranged a $6.2 million PACE loan that was part of the $32.8 million refinancing of the Northbrook Marriott in Northbrook, Illinois. The C-PACE loan was a retroactive payback for improvements completed from 2019 to 2022. The PACE funding entity is managed by the city of Northbrook under the Illinois … Connect TeamSarah QuinnVice PresidentDennis KaiserVice President, Public Relations & CommunicationsEmily LettieriVice PresidentView 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 Construction Underway on $67M Scheels Sports Park Complex Chicago & Midwest + Illinois + Hospitality | September 27, 2023 Construction has started on the long-awaited Scheels Sports Park, a $67 million sports complex and sports tourism destination, reported the Illinois Times. The complex will include turf fields for soccer, softball, rugby, lacrosse, football, and baseball, while a 190,000-square-foot domed structure will have eight basketball courts, 16 volleyball courts, and turf training areas. City officials … Lendlease, McHugh Applaud Grant to Hire More Women in Construction Chicago & Midwest + Illinois + Industrial | August 25, 2023 Illinois Governor JB Pritzker recently announced a $1.35 million federal grant to support tradeswomen-led efforts to train and encourage more women into infrastructure and construction careers. “We at Lendlease applaud this commendable and necessary initiative, to elevate diversity and inclusivity among the traditionally male-dominated construction workforce,” said Kinjal Patel, SVP of Construction with Lendlease. “Improving … Latest Midwest Stories Best Western Hotel Sale in WI Brokered by Marcus & Millichap Chicago & Midwest + Midwest + Hospitality | October 2, 2023 Marcus & Millichap closed the sale of Best Western Plus Wausau-Rothschild Hotel, an 83-room hospitality property located at 803 Industrial Park Avenue in Rothschild, Wisconsin. Chris Gomes, Allan Miller, Ebrahim Valliani, and Michael Gantman, all investment specialists in Marcus & Millichap’s Chicago Oak Brook office, had the exclusive listing to market the property on behalf … Theo’s Italian Coming to The Shops at Perry Crossing in Indiana Chicago & Midwest + Midwest + Retail | October 2, 2023 The Shops at Perry Crossing, an outdoor lifestyle shopping center in Plainfield, Indiana, managed by JLL, will soon feature a new pizza and pasta restaurant concept by local Indianapolis-based restaurant operator Cunningham Restaurant Group. Theo’s Italian will join the center’s lineup of restaurants in the fall. The 6,118-square-foot Italian restaurant will feature patio seating, a … Latest South Side Stories The Club MDW to Open in 2024 as Midway’s First Airport Lounge Chicago & Midwest + South Side + Hospitality | September 28, 2023 Midway International Airport plans to offer customers a lounge starting in 2024, Mayor Brandon Johnson and the Chicago Department of Aviation recently announced. Known as The Club MDW, it will be the first lounge in the airport’s 95-year history, located at the intersection of Concourses A and B. The Club MDW will be open and … Kiser Closes on Historic “The Castle” Morgan Park Property Chicago & Midwest + South Side + Apartments | September 28, 2023 Kiser Group closed on a unique property in the Morgan Park neighborhood of Chicago. The property, known as “The Castle,” is located at 2324 W. 111th Street and is a symbol of the neighborhood’s history. This transaction, brokered by Advisors John George and Joe Bianchi, resulted in a final price of $1.925 million. Originally built … Latest North Side Stories Rany Management Acquires Remaining Units of 16-Story Chicago MF Chicago & Midwest + North Side + Apartments | October 2, 2023 An affiliate of Rany Management, a Chicago-based real estate investment and management firm, has acquired the remaining owned condominium units of the multifamily building at 4180 N. Marine Drive in Chicago’s Buena Park neighborhood. The property, formerly known as Polo Towers, will be renamed the Marine Terrace Apartments. The purchase price for the 8.9% of … Interra Brokers North Side Apartment Building Sale Chicago & Midwest + North Side + Apartments | September 27, 2023 Interra Realty brokered the $2.25 million sale of a seven-unit apartment building in Chicago’s Old Town neighborhood. The transaction equated to $321,428 per unit. Interra Director Harrison Pinkus represented the confidential seller. Senior Managing Partner Joe Smazal represented the private buyer, who assumed the debt from the seller. The property, located at 1338 N. LaSalle … Latest West Side Stories Kiser Group Brokers 41-Unit Property Near Humboldt Park Chicago & Midwest + West Side + Apartments | September 19, 2023 Kiser Group closed on a property located at 3935-45 W. Division Street in the Humboldt Park neighborhood. With a total of 41 units, comprising 37 apartment units and four retail spaces, the building was initially classified as condos at the time of sale. Originally converted into condominiums in 2006, it underwent a transformation when 85% … First Western Acquires 10-Unit Mixed-Use in Little Village Chicago & Midwest + West Side + Apartments | September 13, 2023 First Western Properties acquired a 10-unit mixed-use property on behalf of its family office clients. Located at 2230 Kedzie Avenue, the building features nine multifamily units and one retail space. The buyer was looking for more urban core assets, and the building’s location in Little Village, proximity to nearby Douglass Park, and convenient access to … Latest Stories FromWNC Pulls in $350M for Two Affordable Housing FundsAlternative Assets | October 2, 2023WNC, an investor in affordable housing, has closed two institutional low-income housing tax credit (LIHTC) funds with roughly $350 million in equity. WNC Institutional Tax Credit Fund 55, L.P. (Corp 55) raised $220 million, while WNC Institutional Tax Credit Fund 10 California Series 20 L.P. (CA 20) raised $130 million. WNC has raised over $17.2 ...Alpaca Debuts Private Equity Real Estate PlatformAlternative Assets | October 2, 2023Alternative investments manager Alpaca launched a private equity real estate platform – Alpaca Real Estate (ARE) – to capitalize on current market dislocations and generate incremental alpha for its investors. ARE comes out of the gate with an undisclosed amount of dry powder provided by GCM Grosvenor on behalf of several investors. The platform is ...RBC Wealth Poaches $1B UBS Advisor TeamFinancial Advisory | October 2, 2023RBC Wealth Management, a subsidiary of the Royal Bank of Canada, continues to poach advisory teams from rival UBS Group with the addition of a $1 billion team in Kansas. The group, called Total Wealth Management, includes managing director Patrick McCarthy; SVPs John Brown and Eric Taylor; VP Scott Jones; AVPs Penny McKinney and LaGina ...Wells Fargo Unloads $2B of Private Equity InvestmentsAlternative Assets | October 2, 2023Wells Fargo & Company sold approximately $2 billion of private equity investments in certain Norwest Equity Partners and Norwest Mezzanine Partners funds to a group of investors including AlpInvest Partners (a subsidiary of Carlyle), Atalaya Capital Management, Lexington Partners, and Pantheon, as part of its efforts to focus on its core operations. “With this transaction, ...
