Multifamily N Illinois
Related Midwest's One Bennett Park opens in Streeterville

Related Midwest's One Bennett Park opens in Streeterville

Related Midwest opened the doors of One Bennett Park in Chicago’s Streeterville neighborhood, welcoming the first apartment residents to the new 70-story high-rise, the first residential tower in the city by Robert A.M. Stern Architects (RAMSA). The developer has also unveiled two levels of completed indoor amenity space, as well as two apartment model units by Chicago-based luxury interior design firm Soucie Horner, Ltd.

Multifamily N Illinois
Mixed-use property sells for $3.5M off market

Mixed-use property sells for $3.5M off market

Chicago Real Estate Resources, Inc. brokered a $3.5 million, off-market sale to to Mavrek Development. Michael Weaver and Sean Mason handled the transaction for the property, located in Chicago’s Lakeview neighborhood. The sale-leaseback transaction has Byline Bank signing a long-term lease to remain as the ground floor commercial tenant in the new building that will replace the current, stand-alone bank building.

Multifamily N Illinois
Job growth and property taxes propel apartment demand

Job growth and property taxes propel apartment demand

Corporate expansions and relocations, especially by tech firms, continue to support job growth in the Chicago metro, which in turn is driving up demand for multifamily housing. According to the latest Marcus & Millichap market report, residents are turning to apartments over condos in part because of high property taxes.

Multifamily N Illinois
Draper and Kramer acquires 180-unit luxury rental community in Schaumburg

Draper and Kramer acquires 180-unit luxury rental community in Schaumburg

Chicago-based Draper and Kramer, Incorporated has expanded its Chicago-area portfolio with the acquisition of North 680, a recently built, 180-unit luxury rental community in Schaumburg, Illinois. The property was purchased as part of a 1031 exchange following the firm’s sale of Fieldpointe of St. Louis, a 318-unit community in the St. Louis suburb of Maryland Heights, Missouri. The Chicago office of CBRE brokered the sale of North 680.

Multifamily N Illinois
Habitat team members including founder and chairman Daniel Levin (center), president Matt Fiascone (to Levin's left) and executive vice president, property management Sheila Byrne (to Levin's right), gathered in front of the newly renovated East Park SRO on Tuesday, Nov. 13.

Mayor Emanuel, The Habitat Company cut ribbon on East Garfield Park SRO

Chicago-based multifamily developer and property manager, The Habitat Company, completed a $16 million acquisition and rehabilitation of a 153-unit single room occupancy (SRO) community in Chicago’s East Garfield Park neighborhood. Mayor Rahm Emanuel attended the ribbon-cutting ceremony, along with 28th Ward Alderman Jason Ervin, city officials, Habitat team members and residents of the building.

Multifamily N Illinois
Marco Cesario;Kiser Group

Kiser Group adds Marco Cesario to brokerage team

Kiser Group has hired Marco Cesario as the firm’s newest broker. Cesario, 38, has brokered more than $100 million of land, multifamily, mixed-use, residential, retail and office leasing transactions in his 14-year career. Prior to joining Kiser Group, Cesario worked for a large national firm and a local firm.