A new workforce housing project broke ground at 2711 St. Charles Road in Bellwood.
The Bellwood project is the first workforce housing development to utilize workforce housing bonds anywhere in Illinois, according to a press release. The project is scheduled for completion in spring 2026 and financed through a combination of private investment, a state grant and the use of workforce housing bonds.
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“Every great village has a great downtown, and I am so honored to break ground on a longtime dream come true for myself and more importantly for the residents,” Bellwood Mayor André F. Harvey said in a press release.
F.H. Paschen, an Illinois-based construction company with more than 100 years of experience across Chicago and the suburbs, is the developer for the Bellwood Gateway project.
PEOPLE
JLL hired LaWanda Savage-Henton as Americas head of client sourcing and procurement. She brings over 25 years of experience in procurement and supply chain management.
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Poplar Homes tapped Sean Story to join the company as executive vice president. Story will oversee leadership of its multifamily management and leasing portfolio, which operates under the 33 Realty and Zendoor banners in Chicago and Phoenix, respectively. He will be based in Chicago.
SALES
A local private investor bought an eight-unit apartment building at 5130 S. Greenwood Ave. in Hyde Park for $2.9M from Barnett Capital. Interra Realty's Brad Feldman represented both parties.
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A Chicago-area investor purchased a 17-unit rental community at 6251 N. Talman Ave. in West Ridge for $2.2M from a local family-owned LLC. Interra Realty's Brad Feldman procured the buyer, and both Feldman and Interra Realty's Kevin Rahmanim represented the seller.
LEASES
The Fresh Factory signed a lease for a 56K SF facility at 3600 Lacey Road in Downers Grove. The expansion is expected to enhance The Fresh Factory's production capabilities and streamline its operations. The building will have more than 12K SF of production space and office areas designed to support increased administrative functions.
THIS AND THAT
PARIC Holdings acquired Chicago-based Corporate Concepts, one of the Midwest’s largest contract furniture dealers. Corporate Concepts will become part of PARIC’s I3 Group, which will provide expertise in furnishings, walls and audio-visual products and also includes Interior Investments and Intereum, which PARIC acquired in 2022 and 2023, respectively.
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