Multifamily N Illinois The “next big thing” in multifamily amenities: hotel-like services The multifamily sector has been beset in recent years by an amenity war. As buildings evolve, and tenant expectations shift, many property owner and managers are seeking new ideas by turning to another sector: hospitality.
Multifamily N Illinois CBRE brings Lake Shore Drive condo building to market for deconversion The homeowners’ association of 540 N. Lake Shore Drive, a 150-unit condo building, have retained CBRE as the building’s listing agent. CBRE is positioning the property as a deconversion opportunity, offering the brick-and-timber loft condos in a bulk sale through a competitive bidding process. The listing also contains the adjacent, 10,780-square-foot parking garage with 73 spaces at 450 E. Grand Avenue befitting new construction.
Multifamily N Illinois River North condo building 56 W. Huron tops out Chicago-based Gilbane Building Company recently topped out the 56 W. Huron Condo project in Chicago’s River North neighborhood. A ceremony for this high-profile residential project was attended by representatives from Kiferbaum Development Group, Gilbane and subcontractor partners. The event took place on the project site with a beam signing ceremony to commemorate the special occasion.
Multifamily V Michigan Luxury homes, apartments to rise on site of last horse-racing track in Michigan The last horse-racking track in Michigan will soon become a mixed-use development featuring luxury homes and apartments.
Multifamily N Illinois HFF announces sale, financing of 325-unit Optima Chicago Holliday Fenoglio Fowler, L.P. (HFF) announced the sale and acquisition financing of Optima Chicago Center, a 325-unit, high-rise apartment community in Chicago’s Streeterville neighborhood.
Multifamily N Illinois Marcus & Millichap brokers sale of $11.35 million mixed-use lofts in Chicago Marcus & Millichap facilitated the $11.35 million sale of a 53,931-square-foot, mixed-use commercial loft building and an adjacent lot located at 1040 W. Huron Street in Chicago. The development team of Tandem Partners and Rambaud Holdings intend to pursue a planned development for the site in the rapidly developing River West neighborhood.
Multifamily N Illinois New nine-story transit-oriented development breaks ground in Evanston Chicago-based developers CA Ventures and Focus recently celebrated the groundbreaking of 811 Emerson, a nine-story, 241-unit transit-oriented development at 811 Emerson Street in Evanston, Illinois. Offering proximity to Northwestern University and popular shops and restaurants downtown, the rental development is also steps from CTA and Metra stations at Davis Street. Apartments are scheduled to deliver in summer 2019, with pre-leasing set to begin in fall 2018.
Multifamily N Illinois Chicago's second tallest building could go up as part of proposed Tribune Tower redevelopment Newly disclosed plans for the redevelopment of the Tribune Tower call for what would be Chicago’s second-tallest building, a 1,422-foot-tall, mixed-use tower on the lot adjacent to the historic building. Chicago developer Golub & Company and Los Angeles-based CIM Group revealed the details at a public meeting last night, ending speculation on how they planned to address the property that they bought from Tribune Media for $240 million in September 2016.
Multifamily O Indiana Indianapolis-based developer Milhaus makes key hire Scot Sellers, formerly the chairman and chief executive officer of Archstone and the chairman of the National Association of Real Estate Investment Trusts, has been appointed lead independent director of Indianapolis-based multifamily developer Milhaus.
Multifamily N Illinois Kiser Group shops value-add opportunity condo deconversion in Chicago Flats on LaSalle at 1140 N. LaSalle Drive, has been listed for sale by Chicago-based multifamily brokerage firm Kiser Group. The 250-unit, eight-story building was originally built in 1924 as a luxury hotel, but was later converted to apartments and in 2006 to condominiums. The condos are a mix of studio and one-bedroom units.
Multifamily V Michigan Greystone Bel listing 144-unit multifamily community in Detroit Greystone Bel Real Estate Advisors is offering the 144-unit Carlton Apartments in Detroit for sale.
Multifamily O Indiana Valparaiso studying proposals for long-empty manufacturing complex The City of Valparaiso, Indiana, is looking for a developer to turn a long-abandoned windshield-wiper manufacturing plant into a mixed-use development featuring retail, office and residential uses and a transportation center.
Multifamily N Illinois Interra Realty brokers $1.5M residential building on Chicago's North Side Chicago-based commercial real estate investment services firm Interra Realty has brokered the $1.52 million sale of 4063 N. Sheridan Road, a vintage condominium building in Chicago’s Buena Park neighborhood. The buyer, Chicago-based Aljack Investments, plans to completely restore the fire-damaged building and modernize the property’s seven units.
Multifamily N Illinois Pre-leasing begins at Hazel Place Apartments in Chicago’s Buena Park Chicago-based Spaces Real Estate today announced the start of pre-leasing at Hazel Place, a 15-unit rental community under construction in Chicago’s Buena Park neighborhood. Located at 4337 N. Hazel Street, the three-story brick building is being renovated by Chicago-based Arbor Investment Management LLC, which has retained Spaces as the exclusive leasing brokerage.
Multifamily N Illinois 10-unit multifamily property in Chicago's Pilsen neighborhood sells for $1.15M SVN | Chicago Commercial facilitated the sale of a 12,000-square-foot, brick construction multifamily building in the Pilsen neighborhood of Chicago. The rarely available multifamily building type at 1946 S Racine Avenue has 10 units.
Multifamily N Illinois Fulton Market co-living space set to open in May A new residential project that bills itself as a unique lifestyle concept more than just a building is coming to Chicago’s Fulton Market neighborhood. The co-living space QUARTERS will open in May following similar projects in Germany and New York by Berlin-based Medici Living Group.
Multifamily N Illinois Mixed-use residential building tops out in the West Loop All of the concrete construction on The Van Buren, a mixed-use residential tower at Van Buren Avenue and Halsted Street in Chicago has topped off, according to Loukas Development. Now that this development milestone has been achieved, leasing of the building’s 148 apartment units in the West Loop neighborhood will begin in mid-April.
Multifamily N Illinois Opus starts construction on luxury, mixed-use TOD in Elmhurst Construction of a high-end, mixed-use development—a joint venture between The Opus Group and Principal Real Estate Investors—is underway in Elmhurst, Illinois. The six-story, 164-unit, transit-oriented residence will feature more than 7,600 square feet of retail space in the heart of downtown Elmhurst.
Multifamily X Missouri Berkadia closes largest multifamily deal in St. Louis history Berkadia recently closed the sale and financing of a six-property portfolio in St. Louis County, Missouri. The 2,000-unit portfolio sold for nearly $180 million, making it the largest multifamily deal in the history of the St. Louis market.
Multifamily N Illinois M&R Development provides a look at new Wrigleyville residential building Itasca-based M&R Development revealed interior and amenity renderings for The Residences at Addison & Clark, a mixed-use development across the street from Wrigley Field in Chicago’s Lakeview neighborhood. The transit-oriented development will include 148 luxury apartments and 150,000 square feet of retail.