This Week's Chicago Deal Sheet: Developer Breaks Ground On Suburban Senior Housing
Developer Evergreen Real Estate Group and general contractor F.H. Paschen broke ground on a senior housing development and community center in Franklin Park.
The Leyden Senior Apartments will feature an 80-unit, four-story residential building designed to provide safe and comfortable housing for local seniors. The Carl Fiorito Senior Center is a one-story community center will complement the apartments, offering programs, activities and services tailored to the needs of older residents.
“Leyden Township is committed to addressing the challenges faced by our senior population,” said Rocco Biscaglio, Leyden Township supervisor, in a press release.
“This community is a testament to our dedication to providing all of the seniors in Leyden Township with accessible housing and the resources they need to sustain and improve their quality of life within our community.”
The development was designed by Weese Langley Klein Architects and is scheduled to open in summer 2026.
SALES
First Capital Advisors purchased The Jade Residences of Waterfall Glen, a 70-unit apartment complex built last year in Darien, for $19M, the Chicago Business Journal reported. The development at 2305 Sokol Court was 61% occupied at the time of the sale. Engle and Angelov procured the buyer while Marcus & Millichap's Ryan Engle, Kyle Stengle and Andrean Angelov represented the seller.
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A private investor purchased Dryden Apartments, a 100-unit property in Arlington Heights, for an undisclosed price. Marcus & Millichap's Engle and Angelov marketed the property on behalf of the seller and procured the buyer.
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A partnership between Honore Properties and Peerless Development bought 821 W. Eastman, a 23K SF multitenant property in Lincoln Park for $11.5M. The property is anchored by the British International School of Chicago. Greenstone Partners’ Managing Partner Danny Spitz represented the seller and procured the buyer.
LEASES
ARCO/Murray relocated its Downers Grove office to a 185K SF space at 3113 Woodcreek Drive, tripling its previous footprint. The company purchased the building in 2022. ARCO/Murray occupies three of four floors in the building, while Anderson Moran leases the remaining space.
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Ryerson signed a 46K SF lease at Corridors II, a Class-A office building within the Corridors office complex in Downers Grove. Ryerson will move in November 2025. Cushman & Wakefield's Jordan Rovito and Dirk Riekse represented Ryerson, while CBRE’s Pete Adamo and Adam Lawler represented Corridors ownership in the deal.
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A pair of tenants signed leases at a building at 3500 W. 127th St. in Blue Island. A local furniture distribution company signed a 32K SF lease, while an unnamed existing tenant expanded its space within the building, signing a 31K SF lease. Entre Commercial Realty's Chris Wilbur and Jeff Locascio represented the landlord.
