Chicago & Midwest

JLL arranged $113 million in construction financing and joint venture equity for 500 North Michigan Ave. on behalf of Commonwealth Development Partners. The project is currently underway and will involve a 25-story office-to-residential conversion delivering 320 luxury apartments in Chicago’s Magnificent Mile district. The adaptive reuse project will feature 253,024 square feet of space comprising …

Affinius Capital has originated a $130.4 million construction loan to finance 1000 W. Jackson, a multifamily development located in Chicago’s West Loop submarket. The 25-story development will feature 380 units and more than 21,500 square feet of ground-floor commercial space, pre-leased to ALDI, Inc. The loan was made to a joint venture between Mavrek Development, …

Lee & Associates has closed a $4.5 million sale transaction for four acres located at 11330 W. Melrose Avenue in Franklin Park, Illinois. Jeff Provenza, principal at Lee & Associates’ Illinois office, represented the buyer, Seefried Industrial Properties. Provenza and his team have also been retained for leasing. The seller was O’Brien Investment Group. “This …

Inland Real Estate Acquisitions negotiated and closed the purchase of an 859-unit self-storage facility in Joliet, Illinois, located 40 miles southwest of Chicago. Mark Cosenza, senior vice president of Inland Acquisitions, with assistance from Brett Smith, VP and senior counsel of The Inland Real Estate Group, LLC, Law Department, completed the transaction on behalf of …

BWE has secured $48 million to refinance a 978,000-square-foot 3M industrial and logistics facility in DeKalb, Illinois, part of the Chicago metropolitan area. Mike Guterman, senior vice president in BWE’s Los Angeles office, originated the $48,000,000 long-term, fixed-rate loan with 55% LTV on behalf of Griffin Capital, a Southern California-based real estate investment and management …

Dermody broke ground on the LogistiCenter at Berkeley, a 357,619-square-foot facility located at 5300 St. Charles Road in Berkeley, Illinois. The redevelopment of an older, functionally obsolete industrial building is part of a plan to attract industries that bring jobs to the community and expand the tax base. Dermody is represented by JLL, including Senior …

First Washington Realty has acquired two grocery-anchored shopping centers in Minnesota and Missouri for a combined value exceeding $65 million. The Village of Blaine is a 220,685-square-foot grocery-anchored shopping center. The property sits within one of the fastest-growing areas in the Minneapolis-St. Paul metro area. It benefits from proximity to major regional destinations, including the …

Clarion Partners, Vermilion Development, and Quartz Lake Capital recently hosted a ribbon-cutting event at the newly opened multifamily community, The Duncan, at 1625 Lock Lane in Madison, Wisconsin. Located on approximately 8.2 acres along Madison’s Isthmus, the 309-unit property offers lakeside living with proximity to downtown Madison. The Duncan includes studio, one-, two-, and three-bedroom …

Avison Young has been retained by Chicago developer Podmajersky, Inc., led by John Podmajersky III, to market a new-construction industrial development at 2100 S. Canalport Ave. in East Pilsen. The project is designed to meet growing demand for modern small-bay industrial space in one of Chicago’s most supply-constrained urban submarkets. Known for its focus on …

Pullman Gateway has achieved full occupancy, completing the transformation of a long-vacant property into a mixed-use destination developed and fully leased in just over two years. The grand opening of a 1,500-square-foot Chipotle Mexican Grill with a drive-thru at 11211 South Corliss Avenue marks the completion of the eight-acre development. The celebration also marked the …

Essex Realty Group is marketing 1628-1630 North Wells Street for sale, a mixed-use property ideally situated in Chicago’s Old Town neighborhood. The offering features four residential apartments, ground-floor retail space, a two-unit coach house, and 12 outdoor parking spaces.Essex Realty Group Principal Jim Darrow, Principal Jordan Gottlieb and Director Brian Keegan exclusively represent the seller …

Cross Street and Mavrek announced the start of pre-leasing at Belmora, a new boutique rental community located at 919 W. Belmont Ave. in Chicago’s Lakeview neighborhood. The first phase of the five-story mixed-use development will introduce 46 apartments and approximately 5,700 square feet of ground-floor retail space, anchored by Studio Three, a leading national boutique …

Essex Realty Group, LLC has been exclusively engaged to market for sale a 20-unit portfolio, a multifamily investment opportunity comprised of five similar buildings in Chicago’s West Town neighborhood. The portfolio features 20 residential apartments, including 15 three-bedroom, two-bathroom units. Principal Jim Darrow and Director Abe Eilian represent the seller in the offering. All five …

Essex Realty Group completed the sale of 17114 71st Avenue, a 12-unit multifamily property in Tinley Park, Illinois, for $1.51 million. The property consists of ten two-bedroom, one-bathroom units and two one-bedroom, one-bathroom units. Two units have been fully renovated, while the remaining ten are in standard condition. The property had been owned by the …

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 …

Colliers has facilitated the sale of 2039 Pittsburgh Drive, a 257,120-square-foot industrial distribution facility in Delaware, Ohio. Colliers Industrial Capital Markets advisors Alex Cantu, Alex Davenport, Jeff Devine, Steve Disse and Tyler Ziebel facilitated the sale of the property from The Camber Company to SR Realty Trust, a diversified private REIT based in Minneapolis. “Delaware’s …

ErieView Development announced the closing of financing for the $218 million conversion of Erieview Tower in Cleveland, Ohio. The project will transform the 40-story 1964 landmark into the 210-key W Cleveland hotel, expected to be the first W Hotel in Ohio, and 215 W Apartments offered for rent rather than for sale, a first for …

Bluhawk announced that Anthropologie will join the 277-acre mixed-use destination in summer 2027, marking the retailer’s third Kansas City-area location to date. Anthropologie is a modern, design-led lifestyle brand, and the store will occupy a prominent location at the heart of Bluhawk. “Anthropologie is a natural fit for Bluhawk as we continue building out the …

Marcus & Millichap completed the sale of Creekside Village, a 31-unit multifamily property in Grain Valley, Missouri. “Creekside Village attracted significant investor interest because of its location in one of the Kansas City area’s fastest-growing suburban markets,” said Jacob Carroll, associate director of investments. Carroll and Aaron Kuroiwa, investment specialists in Marcus & Millichap’s Kansas …

Albion Residential and Clayco announced that Albion West End reached its topping-out milestone. This marks the completion of the building’s structural frame, which is a significant step toward delivering the 30-story luxury residential tower to St. Louis’ Central West End on schedule, with first residents expected to be welcomed in spring and full completion of …

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, …

Colliers has completed the sale of the Indianapolis West Infill Industrial Portfolio, a 1,533,112-square-foot, 29-building light industrial portfolio located in the Park 100 and Park Fletcher industrial parks in Indianapolis, Indiana. The portfolio spans the city’s Northwest and Southwest submarkets, with access to Indianapolis’ primary interstate network and Indianapolis International Airport. The portfolio is 94% …

MDH Partners (MDH) has acquired 70 Connect III, a 1,005,776-square-foot industrial building in Greenfield, Indiana, part of the Indianapolis metropolitan area. The building, developed by Lauth, was delivered on a speculative basis and sits along West 350 North in the East industrial submarket. JLL represented the seller in the transaction. MDH’s Director of Acquisitions, Houston …