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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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Columbus Plaza in Chicago
FinanceIllinoisMidwestNews

Habitat Receives $102.4 Million for Refinancing of Columbus Plaza in Chicago

by Channing Hamilton

CHICAGO — Habitat has received a $72.9 million Freddie Mac loan, as well as $29.5 million in equity from New York-based Torchlight Investors for the refinancing of Columbus Plaza, a high-rise community located in downtown Chicago. Torchlight Investors joins Habitat as an equity partner in the property. Northmarq arranged the Freddie Mac loan. The refinancing replaces a $93 million loan from 2017 that matured in November. Habitat and its partners will use the new loan and capital structure to plan renovations and other capital improvements. Columbus Plaza consists of 534 …

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RMK Management Corp. is now the property manager of The Raven Residences in Chicago’s Ravenswood neighborhood, on the north side of the city.
Company NewsIllinoisMidwestNews

RMK Management Corp. Named Property Manager for The Raven Residences in Chicago

by Lynn Peisner

CHICAGO — RMK Management Corp. has been named property manager for The Raven Residences, a transit-oriented rental community at 4733 N. Wolcott Ave. in Chicago’s Ravenswood neighborhood. Adjacent to the Ravenswood Metra station and walkable to the CTA’s Damen Brown Line stop, the property features 167 apartments and townhomes across two four-story brick buildings. The Raven was developed by Harlem Irving Cos. in 2023 and is currently 93 percent leased. Rents at The Raven start at $1,777 per month.

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Residences at Eastbank
DevelopmentFinanceIllinoisMidwestNews

Waterton Contributes Equity for DAC’s Aurora, Illinois, Development

by Lynn Peisner

AURORA, ILL. — Waterton has contributed $16 million in preferred equity for the development of Residences at Eastbank, a five-story, 258-unit, mid-rise project underway in downtown Aurora, about 40 miles west of Chicago. Geneva Capital Group arranged the equity and provided a $45 million senior loan. Further support came from the City of Aurora. Construction began in May 2024 and is expected to be completed in 2026. According to the developer, DAC Developments, the total project cost is $90.4 million. Floor plans will include a mix of studios, one-, two- …

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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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