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Illinois

Cobbler Square in Chicago
IllinoisInvestment SalesMidwestNews

JDL Development, Centaur Capital Partners Purchase $88.2 Million Cobbler Square in Chicago

by Channing Hamilton

CHICAGO — JDL Development LLC and Centaur Capital Partners have purchased Cobbler Square, a historic, 292-unit property in Chicago’s Old Town neighborhood, for $88.2 million. Mark Stern, Kevin Girard, Zach Kaufman and Sam Grohe of JLL Capital Markets represented the undisclosed seller in the deal. Originally built at 1350 N. Wells St. in 1889 as the Dr. Scholl’s shoe factory, Cobbler Square was converted into residential use in 1985. The community offers a mix of studios, one- and two-bedroom, loft-style units. The property also includes 19,038 square feet of retail …

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The Jade Residences of Waterfall in Darien, Illinois
IllinoisInvestment SalesMidwestNews

Marcus & Millichap Brokers Sale of 70-Unit Complex in Darien, Illinois

by Channing Hamilton

DARIEN, ILL. — Marcus & Millichap has brokered the sale of The Jade Residences of Waterfall Glen, a 70-unit asset located at 2305 Sokol Court in Darien, 24 miles southwest of Chicago. The property was constructed on 2.8 acres in 2024. The average unit size is 977 square feet. Amenities include a fitness center, party room, dog park and barbecue area.  Ryan Engle, Kyle Stengle and Andrean Angelov of Marcus & Millichap represented the seller in the deal. Engle and Angelov also procured the buyer. Both parties were private investors. …

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Affordable HousingIllinoisMidwestNews

Community Builders Delivers $44 Million Affordable Housing Community in Chicago

by Channing Hamilton

CHICAGO — The Community Builders has completed Canvas at Leland Plaza, a $44 million affordable housing property located in Chicago’s Lincoln Square neighborhood. Canvas at Leland Plaza consists of 63 units. The Chicago Housing Authority (CHA) is providing funding for 16 of the units through its project-based voucher program, representing an investment of more than $13.3 million over the next 30 years.  Shared amenities at the complex include package and bike rooms, storage space, a resident lounge and terrace. The property also offers commercial space, outdoor seating and parking. Financial …

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Paul Waterloo and Harrison Pinkus
IllinoisMidwestNewsPeople News

Interra Realty Promotes Paul Waterloo and Harrison Pinkus

by Channing Hamilton

CHICAGO — Interra Realty, a Chicago-based investment services firm, has promoted Paul Waterloo to the role of managing partner, as well as Harrison Pinkus to managing director.  Waterloo joined Interra in 2017. The most recent middle-market multifamily deals Waterloo has arranged include the $8.4 million sale of an 18-unit, new-construction asset in Wheaton, Illinois, and the $7.8 million sale of an 84-unit property in Waukegan, Illinois. Prior to this, he was a sales executive with ADP. He received a Bachelor of Science in marketing from the University of Illinois Urbana-Champaign. Since joining the company …

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DevelopmentIllinoisMidwestNews

Redwood Living Completes 124-Unit Community in Crystal Lake, Illinois

by Channing Hamilton

CRYSTAL LAKE, ILL. — Redwood Living Inc. has completed Redwood Crystal Lake, a 124-unit community in Crystal Lake, roughly 50 miles northwest of Chicago. The property consists of 25 townhome-style buildings housing four to six units each. Each of the two-bedroom units feature an attached two-car garage and patio. Amenities include green spaces, pet waste stations and designated guest parking. McShane Construction Co. is the general contractor. Mann Parsons Gray Architects designed the community.

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244 E Pearson in Chicago
FinanceIllinoisMidwestNews

Lument Provides $110.8 Million in Financing for Chicago Portfolio

by Channing Hamilton

CHICAGO — Lument has provided $110.8 million in Fannie Mae DUS loans for six-property portfolio in Chicago. The funds will be used to refinance existing bank debt for the sponsor, Chicago-based owner-operator BJB Properties. Roughly half of the units have been set aside as affordable housing for residents earning at or below 80 percent of the area median incme. The six Fannie Mae loans refinanced the following properties: All the loans carry fixed interest rates, 10-year terms and 35-year amortization schedules. Five loans are full-term interest only and one features …

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Jason Tennenbaum, Marquette Cos.
IllinoisMidwestNewsPeople News

Marquette Cos. Appoints New Division Presidents, CFO

by Channing Hamilton

NAPERVILLE, ILL. — Marquette Cos., a developer and property manager based in Naperville, has appointed Trevor Ryan as partner and president. In this role, Ryan will focus on overall organizational strategy and identify new investment opportunities. Additionally, the company selected Jim Cunningham as partner and president of Marquette Management, the property management subsidiary of Marquette Cos. Cunningham will lead the operations side of the business. He will focus on improving customer experience and operational efficiencies, as well as direct the company’s adoption of artificial intelligence. Finally, Jason Tennenbaum joined the …

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Daniel Levin
Company NewsIllinoisMidwestNewsPeople News

Habitat Co. Founder Daniel Levin Dies at Age 94

by Channing Hamilton

CHICAGO — Daniel Levin, founder and chairman of Chicago-based developer and property manager Habitat Co., has passed away at the age of 94. Levin founded the company in 1971 to manage a series of housing projects totaling 25,000 units across several states, including South Commons, a 28-acre urban renewal project on Chicago’s South Side. Habitat now has $3 billion in assets and 10,000 units under management. Levin began his career as a lawyer at a small firm in Detroit, where he represented the Chicago-based developer of Lafayette Park, a 78-acre mixed-use …

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Liberty Square Flats in Wheaton, Illinois
IllinoisInvestment SalesMidwestNews

Interra Realty Brokers Two Deals in Wheaton, Illinois, Totaling $15.4 Million

by Channing Hamilton

WHEATON, ILL. — Interra Realty has brokered the sale of two Liberty Square Flats buildings in Wheaton, 30 miles west of Chicago. Liberty Square Flats totals 18 units and traded for $8.4 million, while the 44-unit Lorraine Court Apartments sold for $7 million. Situated at 302 W. Liberty Drive, Liberty Square Flats was built in 2024. Amenities include a rooftop deck, dog washing station, outdoor patio, storage closets, heated garage parking, electric vehicle chargers, surface parking and keyless access. Lorraine Court Apartments, located on South Lorraine Road, was built in …

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Haven Hoffman Estates in Hoffman Estates, Illinois
IllinoisInvestment SalesMidwestNews

Eastham Capital, Bender Cos. Purchase Asset Near Chicago for $75.8 Million

by Channing Hamilton

HOFFMAN ESTATES, ILL. — Eastham Capital and Bender Cos. have acquired Haven Hoffman Estates, a 550-unit property in Hoffman Estates, 33 miles west of Chicago. The asset traded hands for $75.8 million. The identity of the seller was not disclosed. Eastham Capital obtained a majority interest in the deal through its current fund, Eastham Capital Fund VI LP. Bender Cos. will oversee the day-to-day management of the property.  Built in 1970, the property offers amenities such as a pool, clubhouse, fitness center, work-from-home suites and an outdoor dining area. The …

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