Chicago & Midwest

Barnes & Noble announced the upcoming opening of its newest bookstore in Chicago, Illinois. The new store is to open on State Street in The Loop, in the historic building that was once a flagship Borders Bookstore. More recently, the building was occupied by Old Navy. The store, located at 150 N State Street, is …

L&G’s Asset Management business in the U.S. has acquired a development site in Concord, Massachusetts, and plans to begin construction on a new two-building, 201-unit multifamily community. The investment and property development is being made on behalf of L&G’s Institutional Retirement business, which is deploying long-term retirement capital to support new housing supply. The project …

Cawley Commercial Real Estate completed a 286,622-square-foot industrial lease at 1717 Harvester Road in West Chicago, Illinois. The long-term lease brings the 465,950-square-foot manufacturing facility to full occupancy. The Cawley CRE team, consisting of David Conroy, Mark Wilson, Jordan Kwiecinski, and Daniel Cawley, SIOR, represented the landlord, Plymouth REIT, in the transaction. The tenant, CoreCentric …

Newmark has arranged a long-term, full-building industrial lease totaling 150,316 square feet on behalf of the tenant, Dynamic Manufacturing, at 7801 Industrial Drive in Forest Park, Illinois. Newmark Senior Managing Director Corey Chase represented the tenant in the lease negotiations. The landlord is First Industrial Realty Trust, Inc. Dynamic Manufacturing will utilize the facility for …

Friedman Real Estate announced the successful onboarding and transition of a 1.2 million-square-foot portfolio of retail, office, and industrial properties throughout Illinois during the first half of 2026. This includes 290,000 square feet on Michigan Avenue, as well as properties in suburbs like Highland Park, Northbrook, Evanston, and Downer’s Grove. The successful Illinois portfolio transition …

Lee & Associates of Illinois has closed a pair of lease renewal transactions totaling 73,513 square feet in Itasca, Illinois. Jeff Galante, SIOR, principal at Lee & Associates’ Illinois office, represented the tenant, Richards Building Supply, a national building exterior material supplier, in a 58,513-square-foot lease renewal at 909 W. Irving Park Road in Itasca, …

JLL has arranged the sale of Boulder Ponds Senior Living and Round Lake Senior Living, a 216-unit portfolio of seniors housing communities located in Lake Elmo and Arden Hills, Minnesota. JLL’s Seniors Housing Capital Markets team represented the seller, Trident Development, in the transaction and secured the buyer, LTC Properties, Inc. Lifespark will remain the …

SRS Real Estate Partners has completed the $6.92 million sale of a single-tenant grocery property located at 2103 Parkview Avenue in Kalamazoo, Michigan. The 29,000-square-foot freestanding grocery property is situated on 2.33 acres and is occupied by D&W Fresh Market, operated by a subsidiary of C&S Wholesale, under a corporate-guaranteed absolute triple net lease. Originally …

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 Three-Twelve completed the sale of 3141 N. Oakley Ave., a turnkey three-unit multifamily property located in Chicago’s Roscoe Village neighborhood. The property sold for $1.24 million, with Essex Three-Twelve Director Mitir Patel representing the seller. Turnkey three-unit properties are rarely available in Roscoe Village, where strong demand and limited inventory continue to create a …

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 to Interstate 94, the Hanson Park Metra Station and downtown …

Crews recently broke ground on a North Lawndale community, the Trumbull Collection, a group of nine market-rate three-flat apartment buildings. The $6.5 million project will replace eight vacant lots on the 1600 and 1800 blocks of S. Drake Ave. and S. Trumbull Ave. with 27 mid-density homes. The city-backed project is being led by Westside …

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. …

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 …

Trident Capital Group and O’Connor Capital Partners announced the closing of a joint venture with Clarion Partners for the next phase of its Rickenbacker Industrial Center, a 959,579 square-foot speculative industrial facility located at 1669 Rohr Road in Columbus, Ohio. The partners also announced that construction has broken ground on the project, with delivery targeted …

The NRP Group announced the groundbreaking of OSU East, a 336-unit housing community in Columbus, Ohio. OSU East marks The NRP Group’s first market-rate community in Columbus. The project is situated on a 27.5-acre site on West Dublin Granville Road that will include an additional 138 for-sale townhomes developed by M/I Homes of Central Ohio …

Morgan Stanley Investment Management, through investment funds managed by Morgan Stanley Real Estate Investing, acquired a newly developed 1.5 million-square-foot distribution facility in Kansas City, Missouri, for $158.5 million. The property was acquired from Hunt Midwest, which developed the logistics facility as a build-to-suit in 2025, the first phase of KCI 29 Logistics Park. The …

Gantry has secured a $30.5 million permanent loan to refinance maturing debt for a 603,000-square-foot warehouse facility located in the Skyport Industrial Center at 7501 NW 106th Terrace in Kansas City’s Northland submarket. The multi-tenant facility underwent a full renovation in 2023 and is now 100%-leased in a multi-tenant format for a range of logistics …

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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Ambrose has broken ground on Buildings I & II at Plainfield Innovation Park, a 720-acre business park in Plainfield, Indiana, a southwest suburb of Indianapolis. Building I will be approximately 181,000 square feet, while Building II will be approximately 217,000 square feet, each including a 2,925-square-foot office area and minimum divisibility of 50,000 square feet. …

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 …