Midwest
Chicago Rents Inch Up; Highest Increase in Douglas Neighborhood
2016 was a year of moderate rent increases in the city of Chicago. The average price for a rental in Chicago went up 5.9 percent year-over-year, closing the year at $1,738/month.
3L Closes on Milwaukee Asset, Plans Conversion
The company will invest $15 million to transform the former office property at 735 W. Wisconsin Ave. into a 144-unit apartment building.
Leasing Begins at LMC’s Chicago Apartments
The Emerson, a mixed-use, transit-oriented development, features 270 units in a five-story, low-rise building and a 20-story high rise.
Kansas City’s New Look
Kansas City is in the midst of a transformation, growing as a financial and research center, with increased investment in infrastructure, all of which support multifamily fundamentals.
Brinshore, McShane Deliver Chicago Mixed-Use Project
Clybourn 1200, a mixed-income apartment building in Chicago’s Old Town neighborhood offers 84 studio, one-, two- and three-bedroom units, as well as 17,000 square feet of ground-floor retail space.
CIM Expands Chicago Portfolio With 2 Acquisitions
The buildings at Wicker Park offer 96 residential units, 23,000 square feet of street-level retail space and 17,400 square feet of creative office space.
Inland Nabs Suburban Chicago Community
The Commons at Town Center, a six-story, 85-unit multifamily property in Vernon Hills, Ill., was built in 2010 and boasts a 96 percent occupancy.
Meridian Lands $20M Loan for Chicago Asset
Meridian secured a bridge loan for the acquisition of Ivy Park Homes, a rental townhome community in the South Side neighborhood.
LMC Tops Off Minneapolis Community
After topping off a mixed-use community in Dallas last month, LMC topped off NordHaus, a luxury mixed-use community located in the heart of Northeast Minneapolis. NordHaus is a 20-story community that features 280 apartments, including 12 penthouses, and 22,000 square feet of ground-floor retail and restaurant space. Residents will have access to amenities such as an expansive club room with kitchen, state-of-the-art fitness center, outdoor, resort-level pool deck, cyber café with conference room and rooftop theatre. Additionally, NordHaus features a pet park with pet washing area, a video game room and bike lounges. Located at 315 NE First Ave., the property…
Greystone Trades SD Affordable Housing Community
The company closed on the sale of Brentwood Apartments in Sioux Falls. The asset is a LIHTC property built in 1973 and renovated in 2002.