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Authentix South Elgin in South Elgin, Illinois
DevelopmentIllinoisMidwestNews

Continental Properties Breaks Ground on 336-Unit Community in South Elgin, Illinois

by Channing Hamilton

SOUTH ELGIN, ILL. — Continental Properties has begun development of Authentix South Elgin, a 336-unit property in South Elgin, about 40 miles west of Chicago. The garden-style community will offer studio, one-, two- and three-bedroom layouts. Amenities will include a pool, outdoor grill area, clubhouse, fitness center and dog park. Pre-leasing is expected to begin in spring 2025, with move-ins slated for late summer 2025. Authentix Apartments, owned and operated by Continental Properties, is a national brand of residential communities offering garden-style apartments. Continental Properties is based in Menomonee Falls, …

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FinanceIllinoisInvestment SalesMidwestNews

Greystone Provides $18.2 Million Acquisition Loan for Cornelia-Stratford in Chicago

by Channing Hamilton

CHICAGO — Greystone has provided an $18.2 million Fannie Mae Delegated Underwriting & Servicing loan for the acquisition of Cornelia-Stratford, a 139-unit community in Chicago. Originally built in 1927, Cornelia-Stratford offers studio, one-, two-, three- and four-bedroom units. The mid-rise community features amenities such as bike storage, laundry facilities and tenant lounge. Clint Darby and Andrew Remenschneider of Greystone originated the financing. The non-recourse, fixed-rate loan features a 15-year term, with interest-only payments for the first five years of the term. The borrower was not disclosed.

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OC Living in Chicago
DevelopmentIllinoisMidwestNews

Habitat Breaks Ground on Next Phase of OC Living at $200 Million Mixed-Use Development in Chicago

by Channing Hamilton

CHICAGO — Habitat, a locally based developer and property manager, has broken ground on OC Living Phase A2, the second residential building to be built at the $200 million Ogden Commons mixed-use project in Chicago’s North Lawndale neighborhood. Phase A2 of OC Living will feature 75 units, 82 percent of which will be set aside as affordable housing. Thirty units will be available to Chicago Housing Authority residents. The remaining 13 apartments will have market-rate rents. Units will come in studio, one- and two-bedroom floor plans. The building will rise …

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Parkline Chicago in Chicago
IllinoisInvestment SalesMidwestNews

AmTrust RE Acquires 213-Unit High-Rise Community in Chicago’s East Loop

by Channing Hamilton

CHICAGO — AmTrust RE has purchased Parkline Chicago, a 26-story high-rise community located at 60 E. Randolph St. in Chicago’s East Loop neighborhood. The 210,000-square-foot building consists of 213 units, including 189 standard rental units and 24 penthouses. The property also includes 6,200 square feet of retail space. Apartments at Parkline Chicago feature wood-grained flooring, undercabinet lighting and quartz countertops. Community amenities include a two-story sky lounge, fitness and yoga studio, indoor-outdoor pool with an attached sundeck and dog run. John Jaeger, Justin Puppi and Jason Zyck of CBRE arranged …

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325 S Union St. in Aurora, Illinois
DevelopmentIllinoisInvestment SalesMidwestNews

SVN | Chicago Commercial Brokers $1.5 Million Sale of Historic Industrial Property in Aurora, Illinois, for Multifamily Conversion

by Channing Hamilton

AURORA, ILL. — SVN | Chicago Commercial has arranged the sale of a 45,000-square-foot industrial property located at 325 S Union St. in Aurora, about 41 miles west of Chicago. The 111-year old building was originally utilized to manufacture vehicle parts during World War II. The undisclosed buyer plans to use historic tax credits to convert the building into market-rate multifamily housing. James Mead of SVN | Chicago Commercial represented the seller in the transaction.

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1501 N California Ave. in Chicago
IllinoisInvestment SalesMidwestNews

Interra Realty Arranges $19.3 Million Sale of 97-Unit Portfolio in Chicago

by Channing Hamilton

CHICAGO — Interra Realty has brokered the sale of a five-building, 97-unit portfolio located on Chicago’s northwest side. Joe Smaza and Mark Dykstra of Interra Realty arranged the deal on behalf of the buyer, Silver Property Group Ltd., a Chicago-based real estate investment and management company. Interra Realty also represented the seller, an investment group based in the East Coast. The portfolio traded for $19.3 million. The portfolio consists of the following properties:

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Avant at the Arboretum in Lisle, Illinois
IllinoisInvestment SalesMidwestNews

Waterton Acquires 310-Unit Avant at the Arboretum in Lisle, Illinois

by Channing Hamilton

LISLE, ILL. — Waterton has acquired Avant at the Arboretum, a 310-unit community located at 450 Warrenville Road in Lisle, 26 miles west of downtown Chicago. The acquisition brings Waterton’s portfolio to more than 7,000 units in the Chicago metropolitan area. Built in 2013, Avant at the Arboretum offers one- and two-bedroom units. The building rises four stories. Community amenities include a pool, grilling stations, fitness center, clubroom, theater room, game room with billiards and a dog park. The property also includes a parking garage with 314 parking spaces, as …

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DevelopmentIllinoisMidwestNews

Mia Rose Holdings Breaks Ground on 144-Unit The Meridian in Glen Carbon, Illinois

by Channing Hamilton

GLEN CARBON, ILL. — Mia Rose Holdings has broken ground on The Meridian, a 144-unit development in the St. Louis suburb of Glen Carbon. The Meridian will comprise 110,000 square feet across four three-story buildings and a one-story clubhouse. Planned amenities include a pool, fitness center, dog park, garages and walking paths. Completion is slated for spring 2025 Midas Construction is the general contractor. Rosemann & Associates is the architect. The project team also includes civil engineer TWM Inc. and mechanical, electrical and plumbing engineer Engenuity. 2B Residential will be …

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The Ludlow in Chicago
IllinoisLeasing & MarketingMidwestNews

Peak Properties Awarded Management of 121-Unit The Ludlow in Chicago 

by Channing Hamilton

CHICAGO — Peak Properties has been awarded management of The Ludlow, a 131-unit property located in Chicago’s Lincoln Park neighborhood. Located at 2032 N Clybourn, the community is the adaptive reuse of the former Ludlow Typograph Company Building, which was originally built in 1913 and became defunct in 1974, according to the City of Chicago. The Ludlow consists of five buildings. Units come in studio, one-, two- and three-bedroom floor plans. Amenities include a rooftop lounge, fitness center with infrared sauna and yoga studios, demonstration kitchen, media room, co-working lounge, …

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Affordable HousingFinanceIllinoisMidwestNews

FHLBank Chicago Launches $300 Million LIHTC Collateral Pilot Program

by Channing Hamilton

CHICAGO — The Federal Home Loan Bank of Chicago (FHLBank Chicago) has launched the Low-Income Housing Tax Credit (LIHTC) Collateral Pilot Program. Through member banks, credit unions, insurance companies, community development financial institutions (CDFIs) and eligible housing associates, the program aims to amplify and incentivize lending in support of affordable housing for low-income individuals and families. The LIHTC Collateral Pilot Program provides members with increased lendable value on their pledged collateral for up to $300 million of qualifying mortgage loans on LIHTC multifamily projects. While all FHLBank Chicago members are …

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