Hollywood River Studios broke ground Monday on a 110-acre studio campus in Wood River, Illinois, with Gov. JB Pritzker in attendance.
Alongside the six soundstages, slated to total 144K SF, the campus will include production offices, warehousing, more than 1,000 parking spaces and a planned esports arena.
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"As the US works to bring production home, studios need stages that are ready when the productions are," Spantech CEO Derek de Villenfagne said in a release. "Hollywood River Studios is our first new-build studio campus in the United States, a market where we see strong demand."
A second site, a 55K SF facility in nearby Granite City, serves as a production base camp.
Hollywood River Studios projects the campus could support more than 1,000 permanent jobs, with individual productions employing 300 to 500 people each.
PEOPLE
Cross Street added three senior leaders as the company expands its national platform. The firm appointed Will Shew as vice president of property management, Karen Gaski as vice president of people and culture, and Drew Malter as director of data and systems. The firm is scaling its operations in Chicago, Denver and Cleveland.
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Greenstone Partners promoted Alexander Tychalski and Charlie Vietzen to investment associates. Tychalski will focus on multifamily properties throughout the Chicago area. Vietzen will focus on flex and industrial properties throughout DuPage County and greater Chicago.
SALES
An out-of-state buyer acquired a 345-unit apartment building at 2130 W. 122nd St. in Blue Island, Illinois, for $22M from Kinzie Assets. More than $3.1M in capital improvements have already been invested in the properties. Greenstone Partners' Michael Duckler represented the purchaser while affiliated with Interra Realty. Kiser Group's Kyle Sissell and Lee Kiser represented the seller.
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BGO acquired a fully leased 11-property portfolio of ambulatory surgery centers totaling 223K SF across nine U.S. markets. The portfolio spans markets including Chicago, Dallas-Fort Worth, St. Louis and Nashville. BGO acquired the portfolio from a joint venture of Flagship Healthcare Properties and AEW Capital Management.
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A 1031 exchange buyer purchased 5840 W. Ogden Ave., a 19K SF net-leased Gerber Collision & Glass property in Cicero, for an undisclosed price. Marcus & Millichap's Lior Regenstreif and Steven Weinstock brokered the property for the seller.
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Hubbard Street Group acquired 167 N. Morgan St., a vacant industrial building in Fulton Market, for $2.7M. Hubbard Street Group plans to redevelop the property into a mixed-use building with 20 apartments and ground-floor retail. CBRE's Tom Svoboda and Savills' Phil Golding represented the seller.
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A private investment group acquired High Point Centre, a 240K SF community center in Lombard, Illinois. High Point Centre is 68% leased to a mix of national and local tenants, including LA Fitness, Altitude Trampoline Park, Ace Dental and Burger King. Mid-America Real Estate Corp.'s Ben Wineman represented the seller, a publicly traded REIT.
LEASES
Beverly Freight signed a 40K SF lease for a truck terminal at 3301 Wireton Road, Units 101 and 105, in Blue Island. Lee & Associates' Sean Austin represented the tenant, while CBRE's Colin Green represented the landlord.
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Sentinel Technologies signed a 63K SF, full-building lease at Corporetum Office Campus X at 410 Warrenville Road in Lisle, Illinois. Sentinel will occupy the building for its headquarters and is expected to relocate in the first quarter. Stream Realty Partners' Jordan Decker and Brian Decker represented Sentinel. Colliers' David Florent and Brent Jacob represented the landlord.
FINANCING
Newcastle Investors landed a $24.7M refinancing deal for Reside on Jackson, a 93-unit multifamily property at 1241 and 1245 W. Jackson Blvd. The permanent, fixed-rate loan has a five-year term. Northmarq’s Chicago debt and equity team, led by Kevin McCarthy, arranged the financing for Newcastle.
THIS AND THAT
The Goldie B. Wolfe Miller Women Leaders in Real Estate Initiative celebrated the 2026-2027 Goldie Scholars, a cohort of 45 women in graduate-level real estate programs at top universities across the country, at its annual Goldie Gala. More than 1,100 attendees came to the event, contributing to the more than $1.6M in donations the organization has brought in this year. The funds support the organization's mission of increasing the number of women in senior leadership positions throughout commercial real estate.
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The Harold E. Eisenberg Foundation will host its annual event on Nov. 5 to raise funds for gastrointestinal cancer research programs. The goal is to raise more than $750K. The annual dinner is expected to attract more than 700 people from CRE and related industries.
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