Multifamily N Illinois 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.
Office N Illinois WeWork announces ninth Chicago location at 222 S. Riverside Co-working firm WeWork will open a location at 222 S. Riverside Plaza, the firm’s ninth location in Chicago. The new 60,000-square-foot office will have more than 1,100 desks across the 15th and 16th floors.
Multifamily N Illinois Amenities: The Next Generation (How to add considerable value to multifamily buildings) The millennial generation’s continued delay of homeownership is old news for today’s apartment owners and developers. But because young adults are continuing to rent into their 30s, landlords continue to see the demand for amenities rise to unprecedented levels.
Multifamily N Illinois Belgravia and LMC close on land for mixed-use Bucktown project Chicago-based Belgravia Group, Ltd. and LMC, a wholly owned subsidiary of Miami-based Lennar Corporation, announced that they have closed on the 4.1-acre parcel of land known as Triangle Square. Belgravia will construct a new mixed-use project that will include 66 condominiums while LMC will develop a mixed-use project that will include 300…
Office N Illinois 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 …
CRE v Wisconsin Milwaukee's Mortenson names new market executive Brian Tobiczyk has been promoted to market executive in the Milwaukee office of Mortenson Construction.
CRE Midwest Thornton Tomasetti names human resources leader Daniel Stauthamer has joined international engineering firm Thornton Tomasetti as chief human resources officer. He brings more than 15 years of experience in the engineering and construction industry to his new position.
CRE v Wisconsin Midwest Commercial Real Estate Hall of Fame: Irgens' Jackie Walsh Each year, Midwest Real Estate News runs its Commercial Real Estate Hall of Fame issue, highlighting the careers of the industry’s most successful pros. This year, we are running those profiles online, too. Today, we look at the career of Jackie Walsh, president and chief operating officer of Milwaukee’s Irgens.
Multifamily N Illinois CBRE brokers $27 million condo deconversion sale in Edgewater Beach CBRE’s Chicago office recently brokered the sale of a 188-unit condo deconversion property at 5815 N. Sheridan Road in Chicago for $27.2 million.
Student Housing N Illinois 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 studen…
CRE N Illinois MBRE names Truszkowski new SVP, managing director of Chicago leasing William “Bill” A. Truszkowski will reportedly join the Chicago office of MB Real Estate as a senior vice president and managing director of its leasing services division. Starting in 2019, the veteran office broker will partner with executive vice president and managing director Mark Buth to oversee MBRE’s extensive leasing portfolio.
Industrial V Michigan Friedman leases 35,000 square feet of industrial space near Detroit Friedman Real Estate recently leased 35,400 square feet of industrial space at 41304 Concept Drive in Plymouth, Michigan. The landlord, Skins Plyfield LLC, leased the space to Anderson Process Inc. Friedman assisted Anderson Process in consolidating three area locations into one so the company could be more efficient and save costs.
Retail N Illinois Alter brings Parlor Pizza Bar to Chicago's River North Parlor Pizza Bar has officially opened at 405 N. Dearborn Street in Chicago’s River North district. The eatery will occupy 9,000 square feet on the main level of 20 West Kinzie, Alter’s 17-story, 385,000-square-foot Class A office complex.
Office i Ohio Berkadia provides $100 million of financing for iconic Cleveland tower Berkadia secured $100 million in financing for Ernst & Young Office Tower, a 23-story office property in downtown Cleveland. Senior managing director Mark Vogel and associate director Eric Bevilacqua of the Cleveland office secured the refinancing through JP Morgan with mezzanine debt from Axonic, on behalf of Ohio-based The Wolstein Group.
Multifamily N 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 McKin…
Office W Minnesota Opus to convert former Target campus in Minneapolis to office space The Opus Group acquired the former Target Corp. west corporate campus in Minneapolis along the Interstate 394 corridor. Opus will convert the single-use office building into multi-tenant office space and update the common areas throughout.
CRE N Illinois Ben Salomone joins ML Realty Partners Rachel Peck, director at ML Realty Partners, announced that Ben Salomone has joined the firm as asset manager in the Itasca, Illinois office. Salomone will focus on portfolio management for the real estate investment firm.
Finance N Illinois Maverick Commercial arranges construction loan for Pilsen office project Maverick Commercial Mortgage, Inc. has arranged $33,750,000 in non-recourse bridge and construction funding for Mural Park, a two-building, loft-style office development. The loan will finance the gut renovation of two 100,000-square-foot loft office buildings located at 1901 and 1911 S. Sangamon Street in Chicago’s hip and historic Pilsen …
CRE N Illinois 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.
Office N Illinois GlenStar launches $20M capital improvement program at President’s Plaza GlenStar Properties, LLC and its joint venture partner Angelo Gordon & Co., L.P., have launched a $20 million dollar renovation campaign at the two-building, 830,479-square-foot President’s Plaza located at 8600 and 8700 W. Bryn Mawr in the Chicago O’Hare submarket. Ownership expects the project to be completed in the second quarter 2019.