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Blutowne in East Peoria, Illinois
DevelopmentIllinoisMidwestNews

Flaherty & Collins Breaks Ground on $65 Million Blutowne in East Peoria, Illinois

by Channing Hamilton

EAST PEORIA, ILL. — Flaherty & Collins Properties has broken ground on Blutowne, a $65 million community in the Levee District of East Peoria. Merchants Bank of Indiana provided financing for the project, which will be centrally located near the municipal building and public library. The community will comprise 219 units across two buildings, as well as 10,000 square feet of commercial space and 276 parking spaces. Units will come in studio, one- and two-bedroom floor plans. Amenities will include a fitness facility, meeting space, saltwater pool and rooftop lounge. …

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An unnamed development in Arlington Heights, Illinois
DevelopmentIllinoisMidwestNews

Bradford Allen Proposes 300-Unit Development in Arlington Heights, Illinois

by Channing Hamilton

ARLINGTON HEIGHTS, ILL. — The development arm of Bradford Allen has submitted plans for a 300-unit community in the Chicago suburb of Arlington Heights. Approximately 30 of the units will be designated as affordable housing, but income restrictions for these units were not disclosed. The property will rise eight stories. Plans call for 25,000 square feet of ground-floor retail space and 17,500 square feet of amenity spaces, including an outdoor pool, sun deck, fitness area, media rooms, business center, library, work-from-home conference rooms, golf simulator, dog walk and pickleball court. …

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Sage West Loop in Chicago
DevelopmentIllinoisLeasing & MarketingMidwestNews

Tandem Partners Opens 18-Story Sage West Loop in Chicago’s West Loop Neighborhood

by Channing Hamilton

CHICAGO — Tandem Partners has opened Sage West Loop, an 18-story mixed-use development in Chicago’s West Loop neighborhood. The high-rise building comprises 196 studio, one- and two-bedroom units, as well as 1,806 square feet of retail space and 70 parking spaces. Amenities include co-working spaces, a fitness center, game room and outdoor sky terrace with grilling stations and firepits. Tandem Construction was the general contractor on the project. KTGY served as the design architect, and Antunovich Associates was the architect of record.

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IllinoisInvestment SalesMidwestNews

CP Capital Sells 236-Unit The Monarch in Des Plaines, Illinois

by Channing Hamilton

DES PLAINES, ILL. — CP Capital US has sold The Monarch, a 236-unit complex in the Chicago suburb of Des Plaines. The buyer and purchase price were not disclosed. CP Capital completed The Monarch in 2020. The community was fully leased at the time of sale. Amenities include a fitness center, pool, yoga studio, parking garage, game room, pet spa, dog park and clubhouse. The property is adjacent to Forest Preserves of Cook County, which offers numerous outdoor recreational activities and a network of hiking and biking trails.

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Alley Landing in Des Moines, Iowa.
Affordable HousingDevelopmentFinanceIllinoisIowaMichiganMidwestNewsNorth CarolinaSoutheastVirginia

Woda Cooper Cos. Secures $67 Million for Five Affordable Housing Communities Across U.S.

by Channing Hamilton

COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. has secured $67 million in low-income housing tax credits (LIHTC) to support the financing for five affordable housing communities in the Southeast and Midwest U.S. The North Carolina Housing Finance Agency allocated $1.2 million to Pender Crossing, a 48-unit development to be built in Wilson, North Carolina. Pender Crossing will offer one-, two- and three-bedroom units across three buildings. TightLines Designs, headquartered in Raleigh, North Carolina, is the architect for the development. Woda Cooper is partnering with the Keweenaw Bay Indian Community to …

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DevelopmentIllinoisMidwestNewsPeople News

JLL Property Management Hires Lewis Taulbee as Managing Director of Asset Resolutions

by Channing Hamilton

CHICAGO — JLL Property Management has hired Lewis Taulbee as a managing director of asset resolutions. In this role, Taulbee will lead JLL’s Chicago-based receivership team in providing special servicers, lenders, bond holders, investors and others with a channel of interdisciplinary asset resolutions. He previously served as JLL’s director of business development for two years. Prior to joining JLL, he held positions with Starwood Capital, CompassRock Real Estate and Simon Property Group. He is a currently standing member of Innovative Commerce Serving Communities, Commercial Real Estate Finance Council and Building …

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DevelopmentFinanceIllinoisMidwestNews

Wells Fargo Arranges $145 Million in Construction Financing for Porte Apartments in Chicago

by Channing Hamilton

CHICAGO — Wells Fargo’s Multifamily Capital group has brokered $145 million in construction take-out financing for Porte Apartments, a 586-unit complex in Chicago’s West Loop. The loan features a five-year term at a fixed interest rate. Intercontinental Real Estate Corp. was the borrower. Porte Apartments was built in 2020 at 845 W. Madison St. The community offers units ranging from 557 to 1,396 square feet in size. Amenities include a pool, resident lounge, fitness center, work-from-home stations, dog wash areas and private gaming spaces. Ten percent of the units are …

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1000M in Chicago
DevelopmentIllinoisMidwestNews

McHugh Construction Tops Out 73-Story Rental Tower in Chicago

by Channing Hamilton

CHICAGO — McHugh Construction has topped out 1000M, a 73-story tower at the western edge of Chicago’s Grant Park. 1000M will offer 738 apartments in studio to four-bedroom layouts. The community’s 80,000 square feet of indoor and outdoor amenity space will include an observation deck on the 73rd floor. The high-rise was designed by the late German Architect Helmut Jahn and his company, Jahn. McHugh Construction is the general contractor for the project. Kara Mann designed the unit and amenity interiors. Cullen Construction Management is the owner’s representative. The community’s first units …

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Affordable HousingCompany NewsIllinoisMidwestNewsPeople News

Evergreen Real Estate Group Adds Jewell Walton as Vice President of Public Partnerships

by Channing Hamilton

CHICAGO — Evergreen Real Estate Group has added Jewell Walton to the newly created position of vice president of public partnerships. In this role, Walton will focus on diversifying the firm’s affordable housing portfolio by partnering with public housing agencies to convert assistance for existing public housing communities to long-term, project-based Section 8 contracts under the Rental Assistance Demonstration (RAD) program. Prior to joining Evergreen Real Estate Group, Walton served as deputy chief of RAD programming with the Chicago Housing Authority and as a project manager for S.B. Friedman & …

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IllinoisInvestment SalesMidwestNews

Marcus & Millichap Arranges $1.1 Million Sale of 12-Unit Property in Addison, Illinois

by Channing Hamilton

ADDISON, ILL. — Marcus & Millichap has brokered $1.1 million sale of a property located at 41 E. Blecke Ave. in the western Chicago suburb of Addison. Christopher Malay and Eric Bell represented the seller, a limited liability company. Ryan Engle and Andrean Angelov secured and represented the buyer, a private investor in a 1031 exchange. The property comprises 12 units in studio and one-bedroom floor plans.

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