ArchiWise tracks 27 stories about real estate, zoning, permitting, and policy in Illinois. We surface the local decisions (rezonings, council debates, infrastructure investment, hazard mapping updates) that change how property gets built and bought. Updated as new coverage publishes.
Tree Street Group is building a geothermal system with 65 wells for the first phase of a 724-unit project at 410 N. Elizabeth St. The all-electric design targets large energy savings and a March 2028 completion.
Read articleNews from Chicago, Cook County, Illinois
A Chicago Loop office-to-apartment conversion at 330 S. Wells St. is headed to a November foreclosure sale after its $28.2M mortgage was ruled in default. A Pennsylvania multifamily investor bought the loan at a steep discount.
Read articleNews from Chicago, Cook County, Illinois
The first phase of the LeClaire Courts redevelopment in Garfield Ridge has started construction, adding 183 apartments and a $119 million budget. The multi-phase project will eventually bring up to 700 residential units.
Read articleNews from Chicago, Cook County, Illinois
The 2.1M SF Illinois Center in Chicago's East Loop is scheduled for a sheriff's sale next month following a default on its $260M mortgage, highlighting ongoing challenges in the city's office market.
Read articleNews from Chicago, Cook County, Illinois
Noah Properties has obtained $62.5 million in lease-up financing from Walker & Dunlop Investment Partners for its newly constructed 945 Nanusha Residences in Buffalo Grove, Illinois, ahead of its temporary certificate of occupancy. This loan refinances existing construction debt and includes an interest reserve to cover project costs through stabilization.
Read articleNews from Buffalo Grove, Lake County, Illinois
An affiliate of Antheus Capital is being sued by an investor group, The Straus Group, over an alleged breach of contract concerning the 1,869-unit Lake Meadows apartment complex in Chicago's Bronzeville neighborhood.
Read articleNews from Chicago, Cook County, Illinois
Dermody has finalized two new industrial leases at its Logistics Campus in Glenview, Illinois, bringing LSL Industries and S&C Electric Co. to the expansive Class A development near Chicago O'Hare International Airport.
Read articleNews from Glenview, Cook County, Illinois
Amancio Ortega's investment arm, Ponte Gadea, has purchased the 51-story 1 N. Wacker Drive in Chicago, marking one of the largest office transactions nationwide this year and the biggest outright office sale in the city since 2015.
Read articleNews from Chicago, Cook County, Illinois
Michelin North America has purchased its primary Midwest and West Coast distribution facility in Wilmington, Illinois, for $151M, securing its long-term operational base.
Read articleNews from Wilmington, Will County, Illinois
Northmarq's Kevin McCarthy secured $24.7 million in Fannie Mae financing for Newcastle Investors, refinancing the 93-unit Reside on Jackson apartment community in Chicago. This transaction provides capital for a modern multifamily asset in a key urban market.
Read articleNews from Chicago, Cook County, Illinois
A 345-unit apartment community known as Blue Station Apartments in Blue Island, Illinois, has been sold for $22 million. The property, located 16 miles south of Chicago, was 96 percent occupied at the time of sale.
Read articleNews from Blue Island, Cook County, Illinois
Sentinel Technologies has secured a full-building headquarters lease for 63,409 square feet at Corporetum Office Campus X in Lisle, Illinois. The move, marking the company's first headquarters relocation in over 30 years, is anticipated in the first quarter of 2027.
Read articleNews from Lisle, Dupage County, Illinois
Two significant apartment building transactions recently closed in Evanston, Illinois, highlighting continued activity in the suburban Chicago multifamily market. Draper and Kramer acquired a 268-unit luxury building, while a firm backed by Jerry Reinsdorf sold a 68-unit complex.
Read articleNews from Evanston, Cook County, Illinois
Newmark facilitated the $30 million transaction of the 277,654-square-foot retail component of the Block 37 mixed-use development, featuring a diverse tenant mix and underground parking.
Read articleNews from Chicago, Cook County, Illinois
The Harold E. Eisenberg Foundation's 27th annual dinner will unite over 700 commercial real estate professionals to raise more than $750,000 for gastrointestinal cancer research and support real estate education initiatives.
Read articleNews from Chicago, Cook County, Illinois
Time Equities Inc. (TEI) has completed the acquisition of a 7,400-square-foot, fully leased retail property located at 33 South Wabash Avenue in Chicago's South Loop for $3.9 million. The property is situated at the base of a 360-unit luxury condominium building.
Read articleNews from Chicago, Cook County, Illinois
Fortec has opened The Nest Schools-Vernon Hills, a new early education center in a Chicago suburb. The $5 million project involved redeveloping a former ambulance warehouse to serve up to 209 students and create 35 jobs.
Read articleNews from Vernon Hills, Lake County, Illinois
Rhino Investments Group has obtained $72.3 million in financing from Aquarian Real Estate Partners and 3650 Capital to acquire Randhurst Village, a 929,899-square-foot open-air shopping center, with plans for a value-add strategy.
Read articleNews from Mount Prospect, Cook County, Illinois
Las Vegas-based Rhino Investments Group has acquired the 932,000-square-foot Randhurst Village open-air shopping center in Mount Prospect, Illinois, for $95 million. This marks their second major retail acquisition in the Chicago metropolitan area within a year, reflecting a strategy to invest in large-scale, high-traffic retail destinations.
Read articleNews from Mount Prospect, Cook County, Illinois
Seefried Industrial Properties has acquired a 4-acre parcel in Franklin Park, Illinois, for $4.5 million, with plans to construct an 81,670-square-foot industrial building expected to be completed by June 2027.
Read articleNews from Franklin Park, Cook County, Illinois
The massive ORD Next project at Chicago's O'Hare International Airport, an $8.8 billion undertaking, is being managed by a lawyer who leverages his non-construction background to challenge assumptions and ensure comprehensive planning.
Read articleNews from Chicago, Cook County, Illinois
Chicago-based Daniel Management Group has elevated Lauren Evett to Vice President of Property Management, where she will guide the strategic direction for assets from acquisition to stable operations across the company's expanding Midwest portfolio. Her role will focus on enhancing resident experience and property appeal in competitive markets.
Read articleNews from Chicago, Cook County, Illinois
Google has released new design renderings for the James R. Thompson Center's atrium in Chicago, detailing plans for a significant redevelopment of the iconic 17-story building purchased in 2022. The project aims to transform the space with new retail, seating, and public art, targeting a 2028 completion.
Read articleNews from Chicago, Cook County, Illinois
Prologis has purchased a 69-acre parcel in suburban Minooka to construct Minooka Exchange, a 1-million-square-foot cross-dock industrial building adjacent to an upcoming rail hub.
Read articleNews from Minooka, Grundy County, Illinois
Justin Ishbia has placed Amtrak's 47-acre parcel under contract to propose The Railyards, a riverfront mixed-use development featuring a potential new White Sox ballpark, housing, commercial space, and a medical facility.
Read articleNews from Chicago, Cook County, Illinois
Chicago investor Laramar Group purchased Eleven Thirty, a 43-story residential tower, from Draper and Kramer for $165.7 million in the property's first ownership change since 1967.
Read articleNews from Chicago, Cook County, Illinois
The Drake Group secured a $32 million loan from Knighthead Funding to refinance Cerca, a newly opened 62-unit mixed-use apartment asset in Glenview, Illinois. The facility retires construction debt and pays out preferred equity.
Read articleNews from Glenview, Cook County, Illinois