Multifamily N Illinois
Eight-unit Joliet apartment building sells for $475,000

Eight-unit Joliet apartment building sells for $475,000

Marcus & Millichap announced the sale of an eight-unit apartment property located in Joliet, Illinois, according to Steven D. Weinstock, regional manager of the firm’s Chicago Oak Brook office. The asset sold for $475,000. Adam Fortino, a senior associate in Marcus & Millichap’s Chicago Oak Brook office, represented both the seller and buyer.

CRE N Illinois
Conor Bossy;Pine Tree, LLC

Pine Tree promotes Conor Bossy to EVP, acquisitions

Northbrook-based Pine Tree, LLC has promoted Conor Bossy from senior vice president to executive vice president of acquisitions and head of the firm’s acquisitions team. According to Pine Tree CEO Peter Borzak, Bossy has made significant contributions to the company’s growth and culture since he joined Pine Tree in 2015.

Multifamily N Illinois
Evergreen Real Estate completes renovation of affordable housing community

Evergreen Real Estate completes renovation of affordable housing community

Evergreen Real Estate Group has completed renovations on the Steven Michael Carroll House, a 36-unit affordable rental community in Chicago’s Logan Square neighborhood. The four-story building at 1819 N. Humboldt Blvd. is owned and operated by Thresholds, one of the oldest and largest providers of recovery services for persons with mental illnesses and substance use disorders in Illinois.

Finance N Illinois
HFF secures $27.5M in financing for Glenview multi-housing community

HFF secures $27.5M in financing for Glenview multi-housing community

Holliday Fenoglio Fowler, L.P. (HFF) has put together $27.5 million in financing for Valley Lo Tower II, a 112-unit, mid-rise multi-housing community in the northern Chicago suburb of Glenview, Illinois. HFF worked on behalf of The Marquette Companies and LEM Capital to secure the five-year, fixed-rate loan through Allstate Investments. Loan proceeds were used to acquire and substantially upgrade the boutique property.

Office N Illinois
Colliers International Chicago moves offices to 71 S. Wacker

Colliers International Chicago moves offices to 71 S. Wacker

Colliers International | Chicago moved its downtown operations into approximately 17,000 square feet of new office space at 71 S. Wacker Drive, one of the city’s premier office towers. The customized office space was designed to support wellness, engagement and community and will house Colliers International Valuation and Advisory Services (CIVAS), Chicago’s Office Advisory Group and Corporate Solutions teams.

Student Housing N Illinois
Beth Pinder;CA Management Services

CA Ventures launches property management company

Real estate investment holding company CA Ventures announced the expansion of its property management services under a new entity, CA Management Services (CAMS), and the promotion of Beth Pinder to chief operating officer of the newly formed, Chicago-based company. Under Pinder’s leadership, CAMS will manage CA’s growing portfolio of student housing communities in the U.S., Europe and South America, currently totaling more than 15,000 beds.

Industrial N Illinois
Brennan Investment Group’s Elk Grove Technology Park.

Short supply to continue for Chicago's suburban industrial market

There are no signs of slowing down for industrial assets in Chicago’s suburban submarkets heading into 2019, with tenant activity driving considerable absorption and construction starts. And as demand outpaces supply, these users continue to find space shortages in many parts of Chicago, according to a new report from Brown Commercial Group, based in Elk Grove Village, Illinois.

Multifamily N Illinois
Berkadia completes sale of multifamily property in Illinois

Berkadia completes sale of multifamily property in Illinois

Berkadia announced the sale of Nantucket Cove, a 240-unit, garden-style multifamily property in Champaign, Illinois. Managing directors Alex Blagojevich and Ralph DePasquale, along with directors Chris Bruzas and Parker Stewart, all of Berkadia’s Chicago office, completed the sale on behalf of the seller, Ann Arbor, Michigan-based The McKinley Companies. The buyer was Barratt Asset Management, based in Indiana.

CRE N Illinois
Forecasting three corners of commercial real estate for 2019

Forecasting three corners of commercial real estate for 2019

All throughout 2018, the real estate market was once again buoyed by a virile U.S. economy. There may new challenges in 2019 in the forms of rising interest rates, tightening credit and lingering uncertainty over the geopolitical climate, yet many commercial real estate professionals remain bullish on the market going into the new year.