Lululemon reportedly signed a lease at the Tribune Tower, weeks after the company announced plans to scale back its U.S. expansion.

The athleisure retailer is set to take up about 12K SF in the Magnificent Mile at the corner of North Michigan Avenue and East Illinois Street, Crain's Chicago Business reported. Lululemon also has six other Chicago locations.

Interim co-CEO Meghan Frank said on an earnings call earlier this month that Lululemon plans to take a "very measured" approach to store expansion. It plans to open a net 35 new stores this year.

PEOPLE

Development Solutions Inc. tapped Mitch Green to lead its expanded focus on restaurant, retail and entertainment. Green will serve as business development executive. He has more than a decade of experience in construction project management and account leadership.

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Morgante Wilson Architects named Renata Buenrostro as its newest partner. Buenrostro has served as MWA’s director of architectural interiors since 2017 and joined the firm in 2000 as an architectural project manager. She will continue to lead her department, overseeing all architectural interior projects for the firm as well as mentoring and training team members.

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Harrison Street expanded its healthcare real estate asset management team with the addition of Jon Glass, Michael Corsini and Hardie Jackson. All three join from PGIM Real Estate. In Glass' role as managing director, he will help oversee asset management across the company's senior housing portfolio.

SALES

An affiliate of Equus Capital Partners purchased Ashford at Geneva, a 226-unit apartment community in Geneva, for an undisclosed sum. The affiliate acquired the property on behalf of a programmatic joint venture with a U.S.-based public pension plan. Ashford was approximately 97% occupied at the time of sale.

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A private investor acquired High Point Plaza at 1230 E. Chicago St. in Elgin in an all-cash deal. The 33K SF property is occupied by a mix of tenants including Subway and State Farm. Marcus & Millichap's Adrian Mendoza, Sean Sharko and Austin Weisenbeck represented both parties in the deal.

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HMS Apartments spent $24.3M for Lakeside Village Apartments, a 155-unit, garden-style apartment community in Mundelein. The property includes 25 studios, 96 one-bedroom units and 34 two-bedroom units. Essex Realty Group's Brian Karmowski and Anthony Citriglia represented both the seller, Bear Peak Capital, and HMS Apartments in the deal.

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Transwestern Investments acquired 320 Overland Drive, a 408K SF industrial facility in the I-88 Corridor, on behalf of a separate account. Built in 2023, the fully leased property features a cross-dock configuration, 36-foot clear heights, 55 dock doors, four drive-in doors and dedicated car and trailer parking.

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A long-term owner of properties in La Grange paid $6.3M for a three-building, medical-anchored retail portfolio in downtown La Grange. The property at 500-522 W. Burlington Ave. is a 34K SF, 12-suite portfolio spanning a downtown block. Marcus & Millichap's Adrian Mendoza, Sean Sharko and Austin Weisenbeck marketed the property on behalf of the seller.

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A confidential buyer acquired 1701 W. Chicago Ave., a mixed-use building in West Loop, for $2.1M. All residential and commercial units were fully occupied at closing. Interra Realty's Craig Martin and Harrison Pinkus represented both parties.

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A private buyer scooped up 1560 N. Damen Ave., a three-story property in Wicker Park, for $3.2M. The building has ground-floor retail occupied by Stan's Donuts and Coffee. Greenstone Partners' Danny Spitz and Brewster Hague represented both parties.

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Time Equities Inc. acquired 33 S. Wabash Ave. for $3.9M from Newcastle Investors. At 100% leased, the three-unit retail property includes tenants Goddess & the Baker, Reckless Records and Prasino.

LEASES

Stream Realty Partners inked more than 100K SF of leases at the Wrigley Building, including both new deals and renewals. Perkins&Will renewed its 48K SF lease through 2038, and Oil-Dri signed a new 15-year lease for about 20K SF. Stream Vice Presidents Erica Marshall and Katie Hull represent Mansueto Office in leasing at the property.

FINANCING

3650 Capital and Aquarian Real Estate Partners provided $72.3M in financing for the acquisition of Randhurst Village. The whole loan financing comprises a $45.6M senior loan arranged by AREP and a $26.7M mezzanine loan from 3650 Capital. Rhino Investments Group acquired the 932K SF Randhurst Village in Mount Prospect from DLC Management for $95M.

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Community Investment Corp. closed $22.6M in loans and grants during the first half of 2026, supporting the preservation of 278 residential units. CIC also closed a $1.5M refi-rehab loan through its SRO Preservation Loan Program for Casa Hotel, a 53-unit single-room occupancy building at 2008 S. Blue Island owned by the Resurrection Project.

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Darwin Investment Group completed a $130M refinancing of a 39-building industrial portfolio totaling more than 2M SF across the Chicago area and Wisconsin. Wells Fargo Commercial Banking's middle market real estate team provided the financing. Darwin Investment Group's George Cibula and Matthew Lewandowski acquired the 49% ownership interest held by their partners as part of the financing, bringing their ownership of the portfolio to 100%.

CONSTRUCTION AND DEVELOPMENT

Opus began construction on Opus Intermodal at Joliet, a 315K SF speculative industrial building on 39 acres at the northeast corner of Patterson Road and West Laraway Road in Joliet. The building is slated for completion in June 2027. Opus previously developed the 1.2M SF Rock Creek Logistics Center in Joliet.

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Tawani Property Management announced construction is underway on an amenity floor on the Monroe Building at 104 S. Michigan Ave. The space will feature meeting rooms, a boardroom, a conference room, a tenant lounge and flexible open space. The floor is expected to open in the fourth quarter of 2026.

THIS AND THAT

T2 Capital Management launched Base Living, a tech-enabled property management company. At launch, Base Living manages more than 850 multifamily units across three properties, as well as a 1M SF industrial property within T2's portfolio. Base Living will systematically expand operations across T2's entire portfolio, including student housing.