Woodlawn Central Looking For City Approval For First Development Phase: The Chicago Deal Sheet
Woodlawn Central, a megadevelopment on the South Side, will soon have its first phase of development up for consideration by city zoning and planning officials.
Developer J. Byron Brazier applied for a zoning change, a proposal set to be introduced at the Jan. 21 city council meeting, according to Block Club Chicago. Woodlawn Central's first phase is set to include two towers and 231 housing units.
Additionally, it would have a hotel and 23K SF of retail in the 14-story structure. The overall master plan is for an 8-acre complex along the 63rd Street corridor.
PEOPLE
Cresa promoted two executives to fulfill the role of president. Tricia Trester will work as president, global portfolio solutions, and Mark Wanic will serve as president, project management. In their new roles, both executives are responsible for guiding long-term strategic growth and developing streamlined client services. Trester joined Cresa in 2021, and Wanic joined in 2024.
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Trammel Crow Co. promoted John Carlson to managing director. Carlson joined the company in 2012 and is responsible for development and acquisition activities through Chicago, Minneapolis and the upper Midwest.
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Skender appointed two new shareholders and made four executive and senior management promotions. Ryan Cotter and Lauren Torres were appointed as shareholders. The company promoted Tony Scott to project executive and Marty Barrett to senior project manager, team leader. Both Taylor Betthauser and Brian Eddy were elevated to senior project manager.
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Daniel Management Group made two corporate hires, bringing on Ian Bingham and Gzim Durakovic. Bingham joins as senior vice president of business development, and Durakovic serves as director of maintenance.
SALES
Horizon Realty Group purchased the 49-unit apartment building at 506 W. Deming Place in Lincoln Park for about $17.4M. The courtyard building features seven studio, seven one-bedroom, 31 two-bedroom and three three-bedroom units as well as a single four-bedroom apartment. Interra Realty's Colin O'Malley represented both Horizon and the undisclosed seller.
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An undisclosed buyer scooped up a 167K SF industrial warehouse property at 23315 S. Youngs Road in Channahon for $4.8M. The property is partially occupied by Verdeco Plastics. Marcus & Millichap's Zach Orzel, Tyler Sharp and Adam Abushagur marketed the property on behalf of the seller.
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Underground Motor Sports, an automotive and plane repair company, paid about $1.4M for a 74-acre site at 42008 N. Delany Road in Zion. The property will have a mix of uses, including performance auto and small aircraft repair. Seller Rita J. Mass Trust was represented by Lee & Associates' Rick Scardino and Tom Glusic of Coldwell Banker Realty. RE/MAX Plaza's Kris Seegren and John Steele represented the buyer.
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An unnamed buyer purchased 1500 E. Dundee Road, a former hotel and athletic complex in Palatine, for an undisclosed sum. The property spans 6.11 acres and includes a six-story, 181-room hotel and a 60K SF athletic complex. Marcus & Millichap's Ebrahim Valliani and Derek Schuster marketed the asset and secured the buyer.
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An undisclosed buyer purchased 1900 W. Lawrence Ave., a mixed-use property with 59 multifamily units and over 19K SF of retail in Ravenswood. The property is a former Sears store that was redeveloped in 2021. At the time of sale, the building’s retail space was 100% occupied and the residential units were 94% full. Cushman & Wakefield’s Jack Maloney and Brad Smith represented seller Matthew Tarshis from Frontline Real Estate Partners, a court-appointed receiver.
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Loboda Properties acquired Mallard Point Apartments, a 173-unit multifamily asset in Channahon, for $24.6M. Marcus & Millichap's Scott Harris and Sam McCarthy represented the buyer, who assumed the existing HUD loan.
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A Chicago-based development group paid $5.4M for 401 W. Ontario St., a 48K SF office-to-multifamily conversion opportunity in River North. Greenstone Partners' Jordan Multack represented the buyer.
CONSTRUCTION AND DEVELOPMENT
The Hispanic Housing Development Corp. broke ground Tuesday on its affordable senior housing project at 1539 N. Pulaski Road. The project will provide 61 modern, high-quality units for low-income elderly households while adaptively reusing the historic Pioneer Arcade Building. Construction is expected to last for 15 months.
THIS AND THAT
Clayco merged its engineering design subsidiary, Clayco Design & Engineering, with its architectural services subsidiary, The Lamar Johnson Collaborative. The strategic realignment, which will operate under the LJC brand, will deepen integration across engineering and architectural design disciplines. As part of the restructuring, Zac House has been named CEO of LJC.
