RE Journals - Midwest and Chicago commercial real estate news

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Scouting out a path forward for the multifamily sector in 2021

In early 2020, multifamily was a robust asset class in Chicago, with rising rental rates across nearly all property classes and submarkets. In early 2021, there is a lot more uncertainty in the sector, as the pandemic has left us with a lot of unanswered questions about the near term.

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Still heating up: CBRE report brings plenty of good news for Twin Cities industrial market

Can the Minneapolis-St. Paul industrial market heat up even more this year? The latest research from CBRE suggests that it will.

This year? It has to be better, right? Cautious optimism rules during Commercial Real Estate Forecast Conference

The 19^th annual Commercial Real Estate Forecast Conference took place during a grim time: Deaths continued to rise during the COVID-19 pandemic. A day earlier, mobs stormed the U.S. Capitol building. And many voters – and too many politicians -- were still arguing that Pres. Donald Trump didn’t actually lose his reelection bid.

Kinzie Builders completes Elm Street Place rental townhomes in Deerfield

Kinzie Builders has completed construction on Elm Street Place, a two-building, seven-unit rental townhome development in Deerfield, Illinois. Both buildings are fully occupied, and the developer, Elm Street Place, LLC, has put the property on the market for $4.97 million.

P.A. Commercial sells 95,000-square-foot office near Detroit

P.A. Commercial closed the sale of 26700 Lahser Road, a 95,000-square-foot office building in Southfield, Michigan.

Lendlease and Magellan Development Group top off Cirrus and Cascade in Chicago’s Lakeshore East

Lendlease, along with Magellan Development Group, announced the topping-off of Cirrus, a 47-story, 350-unit luxury condominium tower at 211 N. Harbor Drive, and Cascade, a 37-story, 503-unit luxury apartment tower at 455 E. Waterside Drive, together representing one of the final phases of the Lakeshore East master plan in downtown Chicago.

Marcus & Millichap arranges the sale of 10-unit apartment building

Marcus & Millichap brokered the sale of 8-12 W. Terrace, a 10-unit apartment property located in Villa Park, Illinois, according to Joe Powers, regional manager of the firm’s Chicago Downtown office. The asset sold for $900,000.

Colliers International sells two-building bio farm and warehouse in Indianapolis

Colliers International has closed the sale of 2301 Churchman Ave., a two-building, 52,336-square-foot temperature-controlled bio farm and pack warehouse facility on the Southeast side of Indianapolis.

Langdon Street Capital adds Broadstone Crossing to its portfolio

JLL’s capital markets team handled the sale of the 225-unit Broadstone Crossing Apartments in Austin. JLL worked on behalf of the seller to complete the sale to the buyer, Langdon Street Capital.

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