CRE N Illinois On the corner: State & 35th I used to skateboard a lot in the ‘90s. Many skaters and freestyle bikers met on the corner of State and Lake. Today, the Wit hotel is there, but back then, there was just a Dunkin’ Donuts and a Taco Bell.
Finance N Illinois Lodge Financial closes three loans in Chicago area Lodge Financial facilitated three recent loan closings around Chicagoland. The subject properties include multifamily assets at 4400 S. Calumet Avenue and 6211 N. Kenmore Avenue in Chicago, as well as a retail property in Matteson, Illinois.
Multifamily N Illinois AIA sells 37-unit apartment building In Bronzeville Apartment Investment Advisers (AIA) recently closed the sale of an apartment building in the Bronzeville neighborhood on Chicago’s South Side. The 37-unit building, located at 4817 S. King Drive, sold for $2,350,000 or $63,514 per unit.
Multifamily N Illinois Golub, Farpoint and Goldman Sachs Urban Investment Group acquire Bronzeville community, Prairie Shores Chicago-based real estate development firms Golub & Company and Farpoint Development have acquired Prairie Shores, a large-scale workforce housing apartment community in Chicago’s Bronzeville neighborhood. The Goldman Sachs Urban Investment Group is the largest equity investor in the acquisition.
Retail N Illinois Bronzeville shopping center sells for $3.4 million Marcus & Millichap closed the sale of a 21,916-square-foot, dual-tenant retail center in Chicago. The asset, located at 707 E. 47th Street in the city’s Bronzeville neighborhood, sold for $3,390,000 to a family trust out of California.
CRE N Illinois Chicago casino: Mayor Lightfoot floats five South, West Side locations Chicago Mayor Lori Lightfoot announced yesterday that the city has submitted five possible sites as the location for a future casino in Chicago as part of the state’s gambling expansion. Chances for a downtown location are out, as four locations are on the South Side and the fifth is on the West Side.
Multifamily N Illinois Dearborn Homes community in Chicago's Bronzeville set to go solar In a first of its kind public and private sector innovation project for Chicago, the Dearborn Homes public housing development that serves more than 600 families in Chicago’s Bronzeville neighborhood is producing renewable energy via private solar panels primarily on its rooftops. This solar installation completed this month supports ComEd’…
Finance N Illinois Lodge Financial arranges over $2.5M in financing for two Chicago properties Lodge Financial recently closed $2,560,000 in loans for two Chicago properties. The buildings are both multifamily properties, one in the North Side neighborhood of West Ridge and the other on the South Side in Bronzeville.
CRE N Illinois Dawveed Scully appointed to Chicago mayoral transition team SOM senior urban designer Dawveed Scully was appointed to City of Chicago Mayor-elect Lori Lightfoot's transition team. Scully was appointed to the business, economy and neighborhood development committee, alongside leaders from institutions and organizations from across Chicago. The committee will play a vital role in shaping key objective…
CRE N Illinois Metal Construction Association honors two Chicago projects The Metal Construction Association (MCA) acknowledged the IBEW Local 134 Headquarters/Union Hall and the Eleanor Boathouse, both located in Chicago, with the 2018 Chairman's Award. The IBEW Union Hall won in Commercial/Industrial category and Eleanor Boathouse won in the Municipal category.
Multifamily N Illinois 275-unit South Loop multifamily project breaks ground Draper and Kramer, Incorporated announced that it has started construction on 2111 S. Wabash Avenue, a 24-story, 275-unit building in the McCormick Square area of Chicago’s South Loop. Located less than one block from the CTA’s Cermak/McCormick Place Green Line station, the transit-oriented development will offer residents a convenient loca…
Multifamily N Illinois Financing for the South Side’s rebirth may come from Opportunity Zones Chicago’s South Side is a complex and diverse region. It’s reputation as a wholly impoverished area is unearned, as pockets of blue collar, middle class and affluent communities abound. That said, there are opportunities for improvement and Opportunity Zones themselves could be the key.
Finance N Illinois ASC arranges $15.4 million for Chicago multifamily portfolio refi American Street Capital (ASC) has arranged $15.4 million in permanent loans for the cash-out refinance of a seven-building multifamily portfolio located in the Bronzeville and Kenwood neighborhoods of Chicago. The loan was co-originated by Igor Zhizhin and Alexander F. Rek.
Office N Illinois Why Chicago continues to compete nationally on office growth Growth is good. And with a growing number of headquarters calling the Chicago MSA home, the area’s magnetism for regional, national and global office users is only strengthening.
Multifamily N Illinois Kiser Group’s Birk and Sklar broker 17 transactions in October Kiser Group, a Chicago-based multifamily brokerage firm, recently brokered 17 buildings in October throughout the Woodlawn, South Shore and Bronzeville neighborhoods. Senior director Noah Birk and director Aaron Sklar facilitated the transactions in their focus area, Chicago’s south side neighborhoods.
Multifamily N Illinois Hunt Real Estate Capital finances $7.4M acquisition of two multifamily portfolios Hunt Real Estate Capital provided two Freddie Mac small balance loans totaling $7.42 million to finance the acquisition of two multifamily portfolios located in the Bronzeville neighborhood of Chicago.
Multifamily N Illinois Interra Realty brokers sales of Chicago multifamily and mixed-use properties Interra Realty, a Chicago-based commercial real estate investment services firm, has brokered the sales of a $2.1 million mixed-use property and $2.1 million rental community in Chicago’s Austin and Bronzeville neighborhoods.
CRE N Illinois Related Midwest unwraps plans for The 78 along the Chicago River Related Midwest has finally taken the cover off of The 78, so named because the Chicago-based developer envisions it to be the city’s 78th neighborhood. At 62 acres, the site along the South Branch of the Chicago River could very well be that, as it also unites near-south communities with the Loop.
Finance Midwest Midwest Commercial Real Estate Hall of Fame: Forrest Bailey Each year, Midwest Real Estate News inducts the most successful commercial real estate pros in its Midwest Commercial Real Estate Hall of Fame. This year, we are running those profiles online, too, so that you can learn what it takes to be a top CRE pro. Today, we are showcasing the career of Forrest Bailey, president and chief executive of…
CRE N Illinois Mel Bifsha joins First Western Properties Chicago-based First Western Properties, Inc. has added Mel Bifsha as a multifamily broker. In his new role, he will focus on up-and-coming areas such as the Pilsen, Humboldt Park, Little Village, Bronzeville and Bridgeport neighborhoods of Chicago.