Continental Properties broke ground on Springs at Aurora, a residential community featuring 320 garden-style apartments at the southwest corner of Orchard Road and Sullivan Road in Aurora.
The community will offer studio, one-, two- and three-bedroom homes with private ground-level entrances and attached garage options.
Preleasing for Springs at Aurora is expected to begin in summer 2026, with initial move-ins anticipated in fall 2026, following the completion of the community clubhouse and first residential building.
“Aurora continues to be one of suburban Chicago’s strongest growth markets, with high occupancy, steady rent growth, and a diverse employment base that supports long-term demand,” Erik Hahn, vice president of acquisitions at Continental Properties, said in a release.
PEOPLE
Leopardo Construction promoted Jeff Seidelmann to vice president of retail. In the role, Seidelmann will lead Leopardo’s retail group, overseeing long-term growth strategy with a focus on client relationships, project execution and team development.
LEASES
The Elmhurst Park District leased a 40K SF warehouse building at 185 Industrial Drive in Elmhurst. The Park District plans to use the facility to operate dance, gymnastics and sports programs while its community center is redeveloped. DarwinPW Realty/Corfac International’s Dan Prendergast and George Cibula represented building owner 3 Flatt LLC, while Prairie Path Berkshire Hathaway’s Mike Muisenga represented the Park District.
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Verizon signed a 129K SF lease renewal at Continental Towers, an office campus at 1701 Golf Road in Rolling Meadows. Transwestern’s Joe Stevens and Steve Degodny represented building ownership in the deal, while CBRE’s Jon Springer and Andrew Kaplan represented Verizon.
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Arrive Logistics is growing its footprint to about 78K SF at CME Center at 10 and 30 S. Wacker Drive in the West Loop. As part of an 11-year, 21K SF expansion, Arrive Logistics will reconfigure its Chicago offices across the entire 23rd and 24th floors, as well as a portion of the 25th floor at the 30 S. Wacker tower. In addition to the expansion, Arrive extended its lease through the end of 2037. NAI Hiffman’s Terry Herlihy represented Arrive Logistics, while owner Tishman Speyer was represented in-house by Ellen May and Isabella Rapken.
SALES
NexGen Manufacturing bought a 132K SF industrial building on 27.8 acres at 2964 Newburg Road in Belvidere for an undisclosed price. Lee & Associates’ Jeff Galante represented the buyer, while Cushman & Wakefield’s Al Caruana represented the seller.
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A Springfield, Illinois-based investor paid $2.6M for a seven-unit multifamily property at 5019 N. Ashland Ave. from seller Drew Breneman. Marcus & Millichap’s Kyle Stengle marketed the property on behalf of the seller.
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An undisclosed investor purchased a 40-unit apartment building at 6565-6589 N. Lakewood Ave. in Rogers Park for $9.3M from an undisclosed seller. The transaction was led by Essex Realty Group’s Steven Livaditis and Matt Feo, who represented the seller, while Essex’s Rick Ofman represented the buyer.
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A private investor paid about $3.5M for a pair of multifamily properties at 1343 N. Western Ave. and 1045 N. California Ave. The investor was interested in turnkey assets with the ability to increase value through raising rents and capitalizing on the asset’s locations, according to a release. Greenstone Partners’ Jordan Multack and Jacob Goldstein represented the seller.
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A Chicago-based multifamily operator executing a 1031 exchange purchased a 94-unit multifamily portfolio in Rogers Park for $10.8M. The portfolio included eight contiguous apartment buildings at 6705 to 6737 N. California Ave. The unit mix includes 36 studios, 55 one-bedroom, one-bathroom units, and three two-bedroom, one-bathroom units. Pegasus’ Katherine Weaver served as the seller’s lead adviser.