Chicago/Midwest People & Company News, week of August 14, 2026

Bradford Allen has added to its leadership team, welcoming Nick Placek as executive vice president, development. In this role, Placek will oversee the firm’s multifamily, office, hospitality and mixed-use development and redevelopment projects from acquisition through completion. He comes to Bradford Allen with a background that incorporates expertise in construction, engineering and finance. Throughout his career, he has managed developments totaling more than $2 billion in capital value, delivering more than $75 million in documented savings across his portfolio.

Colliers announced that Tim Bratvold has joined Colliers | Des Moines as associate vice president. Bratvold brings more than 14 years of industry experience to the role and will collaborate closely with the firm’s Minneapolis-St. Paul multifamily team, which has closed more than $1 billion in multifamily transactions over the past two years and maintains a strong presence in the region.

Schostak Brothers & Company, Inc. (SBCI), a Michigan-based real estate and investment company, announced a series of leadership transitions. As part of the new leadership structure:

• Jeffrey Schostak has been named CEO of Schostak Brothers & Company. In this role, he will lead SBCI’s overall strategy and operations while continuing to oversee the company’s development and acquisition businesses.
• Josh Schostak has been named senior vice president of business development and operations. He will lead the retail acquisition and leasing business as well as efforts to identify new business opportunities, asset classes and unique opportunities.
• David Schostak will transition to executive chairman. In this role, he will continue providing strategic counsel and guidance informed by his extensive experience leading the family enterprise.
• In addition to the Schostak family leadership transitions, Ken Marquette has been promoted to senior vice president of finance and accounting. Marquette will oversee the company’s finance and accounting functions and guide SBCI’s financial strategy.
• Additionally, Charlie Rice has been promoted to director of industrial investments. Charlie has been an integral part of growing the SBCI Industrial portfolio outside of Michigan.

Lee & Associates has closed an $895,000 sale transaction for a 13,600-square-foot industrial building located at 125 N. Prospect Avenue in Itasca, Illinois. Dustin Albers and Mike Adams, senior vice presidents at Lee & Associates’ Illinois office, represented the seller, RBJS, LLC.  Adam Fortino of KW Commercial represented the buyer, Celli Investment Holdings, LLC.

The St. Louis Cardinals and The Cordish Companies announced that One Cardinal Way was awarded Large Community of the Year by the National Apartment Association (NAA). NAA’s annual Excellence Awards program recognizes outstanding performance and leadership across the rental housing industry, celebrating apartment communities, industry professionals and affiliated apartment associations. One Cardinal Way is a 29-story, 297-unit luxury apartment community within Ballpark Village.