Multifamily N Illinois

Buligo Capital completes sale of Chicago-area apartment communities

JLL closed the $25.7 million sale and $20.56 million financing of Central Park and Governor’s House Apartments, two apartment communities totaling 316 units in south suburban Chicago. JLL marketed the properties on behalf of the seller, a Buligo Capital Partners and Ferndale Realty Group joint venture. Bender Companies purchased Central Park Apartments for $17.4 million and Governor’s House Apartments for $8.3 million.

Industrial N Illinois
Batavia spec industrial property leases up

Batavia spec industrial property leases up

Nick Eboli and James Planey, SIOR of Lee & Associates recently closed out leasing contracts for all 137,000 square feet of a new, spec industrial building at 1200-1270 Douglas Road in Batavia, Illinois. The building, built by Morgan / Harbour Construction for a local owner/developer, was completed in February 2018.

CRE N Illinois
Essex on the Park, the first WELL-certified multifamily project in the Midwest.

There’s no better ROI than investing in people

For owners, investors, operators, portfolio managers and enterprise users, building optimization is key to ensuring that every penny that goes into a real estate asset is put to use effectively. So how do you quantify a property’s performance for what is typically the biggest annual spend—the people that occupy the space?

Multifamily N Illinois
Lake Point Tower residents fight back against deconversion

Lake Point Tower residents fight back against deconversion

Chicago’s historic Lake Point Tower has taken steps that are meant to ensure that the building remains permanently owner occupied and will not be deconverted to apartments. The Lake Point Tower Condominium Association (LPTCA) board, as well as a supermajority of unit owners, recently adopted two amendments to prevent the building from being changed back into apartments.

CRE N Illinois
Novak Construction breaks ground at By The Hand Club For Kids

Novak Construction breaks ground at By The Hand Club For Kids

A groundbreaking ceremony was held on Saturday, October 5th for a middle school addition to By The Hand Club For Kids and partner, Moving Everest Charter School. Novak Construction and Team A Architecture were present to celebrate the start of construction—building new 6 to 8th grade classrooms and completing this K-8 charter in Chicago’s Austin neighborhood.

CRE N Illinois
Cushman & Wakefield marketing iconic Murphy Auditorium in River North for sale

Cushman & Wakefield marketing iconic Murphy Auditorium in River North for sale

Cushman & Wakefield has been retained by the American College of Surgeons (ACS) for the sale of the iconic Murphy Auditorium, at 50 E. Erie Street, in Chicago’s River North neighborhood. Constructed in 1926 as a memorial to one of the organization’s founders, Dr. John B. Murphy, the 32,193-square-foot French Renaissance style building now serves as a premier events space.

Industrial N Illinois
Keeping up with constant change

Keeping up with constant change

In today’s innovate or die commercial real estate market, it can be difficult to keep pace with constant change. The rate at which change takes place is consistently accelerating, so put on your seatbelt—there’s no breather from industry changes in sight.

CRE N Illinois
CRE Future Leaders: Shawn Clark

CRE Future Leaders: Shawn Clark

Shawn Clark maintains an active role in deal structuring, fund and project level financing activities, development management and asset management as president of CRG. He has over a decade of experience in the commercial real estate industry and is the founder of Illumination, a charitable theatrical event.

Retail N Illinois
CBRE closes sale of Lincoln Park retail asset

CBRE closes sale of Lincoln Park retail asset

CBRE recently represented Acadia Realty Trust in the sale of a 31,764-square-foot retail property at 938 W. North Avenue in Chicago to The Feil Organization. Located on the corner of North Avenue and Sheffield Avenue in Chicago’s Lincoln Park neighborhood, the property is 100 percent occupied and home to retailers Sephora and a Lululemon flagship store.