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 …
Midwest
Four significant cultural shifts are driving the evolution of multifamily design. Today, developers and architects must create spaces that serve the remote work trend, meet the demand for wellness amenities, keep up with changing sustainability and technology standards and create communities that socially engage their residents. How Hybrid Work Schedules Have Changed Design The shift to remote and hybrid work has profoundly influenced design offerings and space planning at an unprecedented pace in multifamily developments. Before the shift to full-time or partial work from home, the average size of most …
COLUMBUS, OHIO — JLL Capital Markets has arranged $20 million in bridge financing for Hilliard Village, a 352-unit community in Columbus. JLL worked on behalf of the borrowers, Machine Investment Group and RH, to arrange the three-year, fixed-rate loan through The Bancorp Inc. Jamie Leachman, Medina Spiodic and Carter Wroblewski led the JLL Capital Markets Debt Advisory team representing the borrowers. Hilliard Village was originally built in 1973. Located at 3400 Twin Creeks Drive, the garden-style community is situated approximately 8 miles from Columbus’s downtown area. Units come in one-, two- and three-bedroom …
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.
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:
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 …
GREENWOOD, IND. — RailField has acquired The Hangar on Emerson, a 218-unit property located at 1140 Emerson Pointe Drive in Greenwood, which is 14 miles south of Indianapolis. The seller and sales price were not disclosed. The acquisition marks RailField’s entry to the Midwest. The Bethesda, Maryland-based investment and asset-management firm owns multifamily communities in 12 markets primarily in the mid-Atlantic, the Southeast and in Texas. The Hangar on Emerson was named for its proximity to the Indy South Greenwood Airport. Built in 2023, the community consists of three mid-rise buildings. Units come in …
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 …
EVANSVILLE, IND. — CBRE has arranged the sale of Post House, a 159-unit property located at 215 Vine St. in Evansville. Hannah Ott, George Tikijian, Cam Benz, Claire Bullard and Ryan Stockamp of CBRE represented the seller, Scannell Properties, in the transaction. Prosperity Commercial Real Estate was the buyer. The sales price was not disclosed. Post House was constructed in 2020. The community offers studio, one- and two-bedroom units that average 894 square feet, as well as 15 loft-style, live-work units. Amenities include a pool, covered outdoor seating, yoga room, …
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, …