RE Journals – The Midwest’s leading source for commercial real estate news
The latest headlines from
Illinois Real Estate Journal
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Investor sentiment: Nothing will totally break industrial’s stride
REjournals and Chicago Industrial Properties recently held the CIP Summit, an annual conference exploring the state of the industrial market.

Prologis offers $24B for Duke Realty
Prologis, Inc. today sent a letter to James B. Connor, Chairman and Chief Executive Officer of Duke Realty Corporation proposing to acquire Duke Realty in an all-stock transaction.

Marquette University and Roosevelt University win 12th Annual Harold E. Eisenberg Foundation Chicago Real Estate Challenge
Marquette University and Roosevelt University in Chicago won the 12th Annual Harold E. Eisenberg Foundation Chicago Real Estate Challenge in the undergraduate and graduate divisions, respectively. The winning teams will receive a scholarship of up to $5,000. 

Evergreen Real Estate Group and CJE SeniorLife complete affordable senior housing community in Evanston
Evergreen Real Estate Group and Council for Jewish Elderly (doing business as CJE SeniorLife) announced the first move-ins at Ann Rainey Apartments, a 60-unit affordable senior rental community at 1011 Howard St. in Evanston.

The Plymouth trades hands for $16.8 million
Essex Realty Group, Inc. facilitated the sale of The Plymouth in the heart of Chicago’s Loop. Located at 417 South Dearborn St., the Plymouth features 30 apartments and multiple common area spaces including a rooftop club room and fitness center.

Essex brokers facilitate sale of $5 million Edgewater multifamily asset
Essex Realty Group, Inc. recently facilitated the sale of 6144 N. Winthrop Ave., a 40-unit "4+1" style, elevator building located in Chicago's North Side neighborhood of Edgewater. The property is located two blocks south of Loyola University's Chicago campus, two blocks west of Lake Michigan, and less than one block from the Granville CTA Red and Purple Line Station.

Marcus & Millichap brokers land sale in Plainfield for 80-acre community
Marcus & Millichap has brokered the $2.2 million sale of the first phase of an 80-acre land parcel in Plainfield, Illinois.

Draper and Kramer, Inc. arranges $114 million in construction and refi loans for two tandem development projects in Chicago
Draper and Kramer, Inc. announced a team led by Matt Wurtzebach, SVP with Draper and Kramer’s Commercial Finance Group (CFG), has arranged $114 million in construction and refinance loans on behalf of client Tandem Development for two mixed-use properties in Chicago’s West Loop and River West. The team recently closed on $58.4 million in construction financing for Tandem for 1044 West Van Buren, a to-be-built 18-story mixed-use multifamily building in the West Loop. In addition, it also closed a $55.62 million construction loan refinance for Tandem for Avenir Apartments, a 23-story mixed-use development completed in 2019 at 730 N. Milwaukee Ave. in the River West neighborhood.

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