{"id":468623,"date":"2025-12-24T09:40:24","date_gmt":"2025-12-24T09:40:24","guid":{"rendered":"https:\/\/www.europesays.com\/us\/468623\/"},"modified":"2025-12-24T09:40:24","modified_gmt":"2025-12-24T09:40:24","slug":"the-chicago-deal-sheet-december-23-2025","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/us\/468623\/","title":{"rendered":"The Chicago Deal Sheet (December 23, 2025)"},"content":{"rendered":"

S2 Capital<\/a> acquired\u00a0Ovaltine Apartments, a 344-unit garden- and loft-style multifamily community in Villa Park, as the firm’s first investment in the Chicago area.<\/p>\n

The company made the deal following “several years of evaluation and underwriting across the Chicago region,” it said in a press release. Terms of the deal weren\u2019t disclosed.\u00a0<\/p>\n

“All markets are not created equal, and our entry into Chicago reflects years of disciplined research and conviction around long-term fundamentals,” Cole Stephens, managing director of asset management, residential at S2 Capital, said in the release.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n Ovaltine Apartments\n <\/p>\n

The community was originally converted from the Ovaltine Factory in 2001.\u00a0<\/p>\n

PEOPLE<\/strong><\/p>\n

Lee & Associates expanded its office brokerage group and launched a healthcare real estate division, hiring three new people to lead the efforts. The firm tapped Peter Cangialosi, Doug Pauly and Austin York, who\u00a0bring more than 35 years of combined experience representing healthcare providers, investors and property owners across the Midwest.\u00a0The team was most recently at Joseph Rossi & Associates.\u00a0\u00a0<\/p>\n

SALES<\/strong><\/p>\n

A joint venture between Hines and Stahl Organization acquired the leasehold interest in the former Boeing headquarters office tower at 100 N. Riverside Plaza for $22M,\u00a0Crain’s Chicago Business reported<\/a>. Boeing is leasing back 70K SF in the building as part of the sale. Stahl also owns the land beneath the tower.<\/p>\n

***<\/p>\n

Galvanize acquired a seven-property industrial portfolio in the Chicago area, spanning DuPage and Will counties. Through a mix of upgrades and retrofits,\u00a0the company expects to achieve 153% operational decarbonization across its full portfolio, equivalent to over 8,200 metric tons of\u00a0carbon dioxide\u00a0avoided annually.<\/p>\n

***\u00a0<\/p>\n

A private investor paid $4M for\u00a0a 13-unit mixed-use property at 3060 W. Armitage Ave. in Logan Square.\u00a0The property features a mix of one- and two-bedroom floor plans and one retail unit across\u00a0about 12K SF. Marcus & Millichap’s\u00a0Steve Rachman procured the buyer.<\/p>\n

\"Placeholder\"\/<\/p>\n

\n 3060 W. Armitage Ave.\n <\/p>\n

***<\/p>\n

A local buyer purchased\u00a0a seven-unit multifamily property at 1226 N. Cleaver St. in Wicker Park for $1.3M. Greenstone Partners’ Jordan Multack represented the seller and procured the buyer.<\/p>\n

***<\/p>\n

A private buyer purchased\u00a0247 S. Weber Road, a retail development site in Bolingbrook, for about $1.3M. The parcel is fully entitled and ready for development, with the potential to develop up to 110K SF of retail. Greenstone Partners\u2019 Malek Abdulsamad represented the seller.<\/p>\n

***<\/p>\n

An undisclosed operator purchased a 31K SF industrial building at 574 Wheeling Road in Wheeling.\u00a0At the time of sale, the property was\u00a0about 40% leased, with the new owner planning to occupy the remaining space for\u00a0its operations. Avison Young’s Brian Pomorski\u00a0represented the buyer, while Entre Commercial Realty’s Brian Bocci represented the seller.\u00a0<\/p>\n

***<\/p>\n

Highland Real Estate Partners scooped up\u00a0920 W. Oakdale Ave., a 31-unit apartment building in Lakeview, for an undisclosed price. The building was fully occupied at the time of sale. Interra\u00a0Realty’s\u00a0Joe Smazal and Mark Dykstra represented the buyer and seller.<\/p>\n

***<\/p>\n

An\u00a0unnamed\u00a0buyer purchased two properties at 250-270 Willard\u00a0Ave. in Elgin\u00a0for an undisclosed price. The properties total 20K SF on\u00a0more than 2 acres with approved outdoor storage. Entre Commercial Realty’s Brad Bullington and Ian Pattison represented the seller.\u00a0<\/p>\n

LEASES<\/strong><\/p>\n

National Material LP signed an 11K SF lease at 9500 W. Bryn Mawr Ave. in Rosemont. Lee & Associates’ Jay Farnam and Mike Adams represented National Material, while\u00a0Cushman & Wakefield represented owner MJH Rosemont.<\/p>\n

***<\/p>\n

Veracity Logistics signed a 30K SF lease in Libertyville.\u00a0Veracity signed\u00a0a lease to\u00a0remain close to its main customer base and to fuel its long-term growth strategy.\u00a0Entre Commercial Realty’s\u00a0Marc Bartolini and Dan Benassi represented the tenant, and Cawley Chicago’s David Conroy represented the landlord.\u00a0<\/p>\n

FINANCING<\/strong><\/p>\n

Avatar Financial Group funded an $11.1M bridge loan secured by three operating gas stations in the Chicago area. Structured at a 61% loan-to-value ratio with a two-year interest-only term, the loan enables the sponsor, a large fuel station and convenience store operator, to refinance maturing debt and release a fourth property that had previously been cross-collateralized with the\u00a0other three assets.<\/p>\n

***<\/p>\n

BWE\u00a0arranged a $37M nonrecourse financing on behalf of Focus Healthcare Partners to\u00a0fund the acquisition and repositioning of a 293-unit full-continuum senior living community in Bartlett. Ryan Stoll and Taylor Mokris arranged the financing, which will leverage Focus\u2019 previously all-cash acquisition of the campus and fund more than $15M in capital improvements.<\/p>\n

***<\/p>\n

IPA Capital Markets secured $96.7M in financing\u00a0for three industrial properties in Rockford. IPA’s Frank Montalto and Ethan Splan secured three-year, nonrecourse financing with Bank OZK on behalf of Craig Erdmier, a design-build and construction management professional and general contractor. The portfolio comprises over 650K SF.\u00a0<\/p>\n

CONSTRUCTION AND DEVELOPMENT<\/strong><\/p>\n

Ware Malcomb completed construction on a new corporate headquarters for NTN Bearing\u00a0Corporation of America at 1501 E. Woodfield Road in the Schaumburg Corporate Center. Ware Malcomb\u2019s Chicago office provided interior architecture and design, branding, furniture design and management, and experiential graphic design services for the 36K SF project.<\/p>\n

***<\/p>\n

Continental Properties officially opened Springs at Lake Cook Crossing, a garden-style apartment community featuring 254 homes at 400 Spring Cress Road in Deerfield. The community offers studio, one-, two- and three-bedroom layouts with private ground-level entrances and attached garage options. Residents also have access to community amenities like a fitness center, bocce ball courts and two dog parks.<\/p>\n","protected":false},"excerpt":{"rendered":"S2 Capital acquired\u00a0Ovaltine Apartments, a 344-unit garden- and loft-style multifamily community in Villa Park, as the firm’s first…\n","protected":false},"author":3,"featured_media":468624,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5124],"tags":[960,5386,1818],"class_list":{"0":"post-468623","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-chicago","8":"tag-chicago","9":"tag-il","10":"tag-illinois"},"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@us\/115773888124155601","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/468623","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/comments?post=468623"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/posts\/468623\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media\/468624"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/media?parent=468623"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/categories?post=468623"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/us\/wp-json\/wp\/v2\/tags?post=468623"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}