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7800 South Throop Street
IllinoisInvestment SalesMidwestNews

AT Holdings Buys Two 1920s-Era Apartment Buildings on Chicago’s South Side

by Lynn Peisner

CHICAGO — Badu Investments LLC has sold two properties on Chicago’s South Side to AT Holdings LLC, an out-of-state investor seeking to expand a Chicago value-add portfolio. The two properties, located at 7300 S. May St. and 7800 S. Throop St., include a mix of one- and two-bedroom units. They are located in Chicago’s Auburn Gresham and Englewood neighborhoods respectively. The 6,480-square-foot property at 7300 S. May St. was built in 1924, while the 8,400-square-foot property at 7800 S. Throop St. dates to 1929. Quentin Benedetto, Kyle Stengle and Jack …

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K2 Apartments in Chicago
FinanceIllinoisMidwestNews

Georgetown Co. Receives $113.7 Million Loan for Refinancing of Rental Tower in Chicago

by Channing Hamilton

CHICAGO — Georgetown Co. has received a $113.7 million Freddie Mac loan for the refinancing of K2 Apartments, a 34-story residential tower located at 365 N. Halsted St. in Chicago’s Fulton Market district. Danny Kaufman, Medina Spiodic and Rebecca Brielmaier of JLL arranged the seven-year, fixed-rate loan on behalf of the borrower. Built in 2013, K2 Apartments comprises 496 units in studio, one-, two- and three-bedroom configurations. Amenities include a pool, terrace lounge, movie theater room, concierge services, a dog park and indoor basketball court. Georgetown Co. is an investment …

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DevelopmentIllinoisMidwestNews

Synergy Construction Group Completes Station 250 in Mundelein, Illinois

by Channing Hamilton

MUNDELEIN, ILL. — Synergy Construction Group has completed Station 250 in Mundelein, about 40 miles north of Chicago. Synergy served as developer and general contractor. Ware Malcomb provided architecture, interior design and full site planning services for the transit-oriented project. Station 250 consists of 166 apartments across four stories. The property features an outdoor pool and 10,700 square feet of indoor amenities, including a coffee bar reception area, fitness center, yoga room, sauna, golf simulator room and coworking lounge.

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Company NewsIllinoisMidwestNewsOperationsPeople News

Core Spaces Appoints Six Professionals to Executive Leadership Team

by Channing Hamilton

CHICAGO — Chicago-based developer and owner-operator Core Spaces has appointed six professionals to the company’s executive leadership team. Founded in 2010, Core Spaces owns and operates approximately 45,600 student housing beds, with a pipeline of over 43,000 beds underway. Additionally, the company has a pipeline of approximately 3,000 BTR homes under development. Core Spaces states that it currently has $5.7 billion in combined equity under management.

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Yorktown Reserve in Chicago
DevelopmentFinanceIllinoisMidwestNews

Synergy Development Secures $68.5 Million in Construction Financing for Project in Chicago

by Channing Hamilton

CHICAGO — Locally based Synergy Development has received a $56 million senior construction loan and $12.5 million in equity for the Phase I of Yorktown Reserve, the redevelopment of Chicago’s Yorktown Mall. The first phase of the project will deliver 271 apartments. A construction timeline was not disclosed. Frank Montalto of IPA Capital Markets secured the debt with a local bank and arranged the equity with an institutional investor.

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Canterbury Court Apartments in Chicago
IllinoisInvestment SalesMidwestNews

Becovic Holdings Corp. Acquires Canterbury Court Apartments in Chicago for $25.7 Million

by Channing Hamilton

CHICAGO — Becovic Holdings Corp. has purchased Canterbury Court Apartments, a 176-unit asset located in the Gold Coast neighborhood of Chicago, for $25.7 million. The 16-story building houses a mix of 142 studios, 26 one-bedroom apartments and two two-bedroom residences, as well as six units utilized by previous ownership. The property also includes 1,268 square feet of ground floor retail, which is occupied by the Zebra Lounge piano bar. Zebra Lounge has been on the property since it was built in 1929. Nicholas Kanich and Kyle Stengle of Marcus & …

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Flora in Chicago
DevelopmentIllinoisMidwestNews

High Street Residential Completes 34-Story Residential Tower in Chicago

by Channing Hamilton

CHICAGO — High Street Residential, the residential subsidiary of Trammell Crow Co., has completed Flora, a 34-story high-rise project located in Chicago’s Fulton Market district. The community offers 368 apartments in a mix of studio, one-, two- and three-bedroom layouts, alongside penthouse units with condominium-like finishes. Residents at Flora have access to interior amenities such as a clubroom, golf and game simulator room, fitness center and yoga studio, dining area with chef’s kitchen, coworking spaces and a sound recording booth. The community also features an outdoor amenity deck on the second …

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Arden Townhomes in Warrenville, Illinois
FinanceIllinoisMidwestNews

Cantera Townhomes Secures $25 Million Financing for Arden Townhomes Near Chicago

by Channing Hamilton

WARRENVILLE, ILL. — Cantera Townhomes LLC has received $25 million for the refinancing of Arden Townhomes, a 60-unit townhome community located in the Cantera neighborhood of Warrenville, about 30 miles west of Chicago. Situated at 28291-28417 Torch Parkway, Arden Townhomes offers three-bedroom units averaging 1,898 square feet. The asset was recently built in 2024. JLL represented the borrower in securing the $20 million, two-year, floating-rate senior loan through an entity managed by Argentic Investment Management LLC. Pearlmark provided an additional $5 million in mezzanine financing. Trent Niederberger and Philip Galligan …

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Authentix South Elgin in South Elgin, Illinois
DevelopmentIllinoisMidwestNews

Continental Properties Breaks Ground on 336-Unit Development in Chicago Suburb

by Channing Hamilton

SOUTH ELGIN, ILL. — Continental Properties has broken ground on Authentix South Elgin, a 336-unit development in South Elgin, approximately 45 miles west of Chicago.  Authentix South Elgin will offer studio, one-, two-, and three-bedroom floor plans. Amenities include a pool, clubhouse, outdoor grill area, fitness center and a leash-free dog park with a pet spa. Pre-leasing is slated to commence in the spring of 2025. Move-ins will begin once the community clubhouse and first residential building are completed in late summer 2025. The property is located at the corner …

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The Parker in Chicago
IllinoisInvestment SalesMidwestNews

JLL Capital Markets Arranges Sale of 29-Story Apartment Tower in Chicago

by Channing Hamilton

CHICAGO — JLL Capital Markets has arranged the sale and acquisition financing of The Parker, a 29-story apartment tower in Chicago’s Fulton Market district. JDL Development purchased the high-rise community for an undisclosed price. The sellers were institutional investors advised by J.P. Morgan Asset Management and Atlantic Residential. Atlantic Residential, Focus Development and Shapack Partners built The Parker in 2016. The property is located at 730 W. Couch Place, around the corner from the city’s Randolph Street Restaurant Row. The Parker consists of 227 units in studio through three-bedroom layouts. …

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