Midwest

Linwood-and-Troost-Kansas-City
Affordable HousingDevelopmentMidwestMissouriNews

Milhaus to Develop 194-Unit LIHTC Project in Kansas City

by Lynn Peisner

KANSAS CITY, MO. — Milhaus will develop Linwood & Troost, a 194-unit affordable housing community in Kansas City. Construction is slated to begin at the end of 2026, with completion anticipated by 2028. The Missouri Housing Development Commission (MHDC) awarded 4 percent federal Low-Income Housing Tax Credits for the project. In addition to the tax credits, funding sources include a tax abatement from Kansas City’s Planned Industrial Expansion Authority and $1.5 million awarded from the Kansas City Housing Trust Fund. The total project cost was not disclosed. Indianapolis-based Milhaus will …

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Bayside-Kenosha
Build-to-RentInvestment SalesMidwestNewsWisconsin

CBRE Arranges $7.1M Sale of Bayside Townhomes in Kenosha, Wisconsin

by Lynn Peisner

KENOSHA, WIS. — CBRE has arranged the $7.1 million sale of Bayside Townhomes, a 32-unit community in Kenosha. Campbell Creek Communities LLC was the buyer, and Bayside Townhomes LLC was the seller. CBRE’s Matson Holbrook, Gretchen Richards and Sean Beuche represented the seller in the transaction. Bayside Townhomes is located at 1523 Sheridan Road. The property features three-bedroom floor plans averaging 1,500 square feet. Unit amenities include private entrances, attached garages, patios and balconies and in-unit washers and dryers. The property was 100 percent occupied at the time of sale. …

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The-Alan-Muncie
Affordable HousingDevelopmentIndianaMidwestNews

Affordable Housing Redevelopment The Alan Opens in Muncie, Indiana

by Lynn Peisner

MUNCIE, IND. — Indianapolis-based developer TWG has opened The Alan, a 120-unit affordable housing community in Muncie. Denver-based STUDIO Architecture designed the property. Located at 2430 W. Kilgore Ave. along the White River, The Alan is a redevelopment of the former Endzone Bar & Grill site. Units are reserved for tenants earning up to 50 to 60 percent of the area median income. The community includes a mix of one-, two- and three-bedroom units. The Alan includes a leasing office, fitness room, community room, bike storage, playground, dog park, garden …

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1880-Milwaukee-Chicago
DevelopmentIllinoisLeasing & MarketingMidwestNews

Peerless Development Begins Lease-Up at 1880 Milwaukee, a 44-Unit Property in Chicago

by Lynn Peisner

CHICAGO — Peerless Development has begun pre-leasing at 1880 Milwaukee, a 44-unit property in Chicago’s Bucktown neighborhood. First resident move-ins at the five-story mid-rise are slated for August 2026. Units are offered in one- and two-bedroom floor plans ranging from 534 to approximately 950 square feet, some with private balconies. Asking rents start at $2,325 per month for one-bedroom apartments and $3,645 per month for two-bedroom residences. Amenities include a rooftop deck with grilling stations, reserved garage parking for 22 vehicles with electric vehicle charging capability and bicycle storage. The property, …

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Indian-Lake-Village-Lake-Orion
BerkadiaFinanceMichiganMidwestNews

Berkadia Arranges $35.2M ReFi for Indian Lake Village Apartments North of Detroit

by Lynn Peisner

LAKE ORION, MICH. — Berkadia has arranged a $35.2 million refinancing loan through Freddie Mac for Indian Lake Village Apartments, a 394-unit community in Lake Orion, a village approximately 38 miles north of Detroit. Fenton Management Co. out of Farmington Hills, Michigan, is the owner/borrower. Wesley Moczul of Berkadia Orlando led the transaction, with support from Mitch Sinberg, Scott Wadler, Matt Robbins and Brad Williamson of Berkadia Boca Raton. Located at 3001 Lake Village Blvd., Indian Lake Village Apartments is situated on approximately 58 acres and was constructed between 1995 …

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Rock-Run-Residences-Joliet
IllinoisLeasing & MarketingMidwestNews

Marcus & Millichap Brokers Sale of Rock Run Residences in Joliet, Illinois

by Lynn Peisner

JOLIET, ILL. — Marcus & Millichap has brokered the sale of Rock Run Residences, a 128-unit property in Joliet. The asset traded between two private investors for an undisclosed sum. Rock Run Residences is situated on approximately 15 acres at 1524 Richard T. Rivera Way. Built in 2002 and renovated between 2021 and 2024, the property consists of seven buildings totaling 81,960 rentable square feet, with 12 studios, 96 two-bedroom, four three-bedroom and 16 four-bedroom units. Amenities include a clubhouse, fitness center, community kitchen, pool, picnic area, sand volleyball court …

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Warner-Swasey-Cleveland
Affordable HousingDevelopmentMidwestNewsOhio

Pennrose Breaks Ground on $64M Adaptive Reuse Project in Cleveland

by Lynn Peisner

CLEVELAND — Pennrose and nonprofit partner MidTown Cleveland have broken ground on the $64 million redevelopment of the former Warner & Swasey factory in Cleveland. In October 2025, Pennrose acquired the building at 5701 Carnegie Ave. from the City of Cleveland. The development team, working on this project since 2017, drew on 24 capital sources to bring the plans to fruition, including contributions from the City of Cleveland, Cuyahoga County and the Cleveland Foundation, among other public and private partners. Constructed in the early 1900s, the 194,000 square-foot, five story …

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20West-Mount-Prospect
IllinoisInvestment SalesMidwest

Wingspan Development Sells 20West in Metro Chicago for $23M

by Lynn Peisner

MOUNT PROSPECT, ILL. — Interra Realty has arranged the sale of 20West, a six-story, 71-unit community at 20 W. Northwest Highway in Mount Prospect. Locally based Wingspan Development, which opened the property in 2019, sold the asset for $23 million to Wheeling, Illinois-based Anemone Real Estate. Interra represented both buyer and seller. The property, made up of studios and one- and two-bedroom floor plans, was 94 percent occupied at the time of the sale. Amenities at 20West include a fitness center, yoga studio, lounge, demonstration kitchen and a two-story restaurant …

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Fox-Hills-Dubuque
IowaMidwestNewsOperations

DMG Selected as Property Manager for Fox Hills Apartments in Dubuque, Iowa

by Lynn Peisner

DUBUQUE, IOWA — Daniel Management Group, a Chicago-based property management and investment firm, has been selected by Talon Development to manage and lease up Fox Hills Apartments. The community will open its first 210 units for move-ins this August. More development phases are planned for future dates. Fox Hills features studios through three-bedroom layouts and amenities such as a fitness center, dog park, clubhouse and a walking trail. High-speed Wi-Fi and trash, water, sewer and natural gas are included with rents.

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Affordable HousingDevelopmentFinanceMidwestOhio

Lument Secures $28M HUD Loan for Ohio Affordable Housing Redevelopment

by Lynn Peisner

LORAIN, OHIO — Lument has secured a $28 million U.S. Department of Housing and Urban Development (HUD)/Federal Housing Administration (FHA) loan to assist TFG Housing Resources and Raise Up with the rehabilitation of Western Horizon. Upon completion of the redevelopment, all 353 units of the affordable housing community in Lorain will be offered at rents capped at 60 percent of area median income. Lument’s Joey Hague led the transaction. TFG Housing Resources is a Columbus, Ohio-based real estate developer focused on the new construction and rehabilitation of affordable housing properties. …

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