Chicago Fire FC released renderings and further details late Monday night of the club's $650M soccer stadium at The 78.
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The 22,000-seat stadium will serve as an anchor for Related Midwest's megadevelopment, and it will be privately financed by Joe Mansueto, club owner and the founder of financial data firm Morningstar.
Construction is expected to begin by the end of 2025. The new stadium is set to open in spring 2028.
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“I love this city and its architecture,” Mansueto said in a press release. “This stadium is adding to Chicago’s iconic skyline, so I want it to look timeless. It will look like it’s always belonged here, but with the modern innovations required for a world-class soccer club.”
The stadium was designed by Gensler in “Chicago School” fashion, including a brick, steel and glass facade.
PEOPLE
Lee & Associates promoted Sam Lepore to vice president from senior associate. Lepore specializes in industrial real estate within the O’Hare submarket, focusing on tenant representation, buyer representation, owner representation, sales and leasebacks.
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Greenstone Partners expanded its brokerage team with the addition of Chris Malay as director and investment sales broker. Malay has been involved in more than $75M in multifamily transactions throughout the Chicagoland suburbs since 2016. Prior to joining Greenstone Partners, Malay spent eight years at Marcus & Millichap.
SALES
Entre Commercial Realty completed a new truck maintenance and trailer parking build-to-suit transaction in Pingree Grove. The facility will be the new corporate headquarters for Freight Union. The development will be comprised of a 62K SF maintenance facility with 30 repair bays, two docks and 238 trailer positions. Entre's Cory Kay and Mike DeSerto represented the purchaser in the deal.
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Craig Robinson purchased a 42-unit mixed-use property in Morgan Park for $5.9M. The building includes four commercial spaces and 38 large residential units. The building was 100% occupied at the time of sale.
LEASES
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Perform Properties announced that Catalog at Willis Tower, the 300K SF five-story dining, retail and immersive entertainment experience in the base of the iconic tower, signed leases with popular eateries Cava, Mendocino Farms and Van Leeuwen Ice Cream. All three stores are expected to open later this year.
FINANCING
Mag Mile Capital secured $10.2M in joint venture equity on behalf of the development team executing an office-to-multifamily conversion project at 111 W. Illinois in River North. The joint venture equity was secured from an institutional limited partner based in Chicago. Mag Mile's Matt Weilgus led the transaction.
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Canyon Partners Real Estate provided a $47M senior loan to a joint venture between affiliates of AEW Capital Management and Real Estate Development and Investment Company. The loan was used to refinance American House Oak Park, a 174-unit, Class-A senior housing community in Oak Park. The property features several senior living options, including 74 independent living units, 65 assisted living units and 35 memory care units.
CONSTRUCTION AND DEVELOPMENT
Friedman Properties completed renovations at the Reid Murdoch Building in River North. Improvements included the construction of an amenity suite with a new lounge and fitness center. Friedman Properties acquired the eight-story, 320K SF building in 1998 and executed a full redevelopment in 2002.
