New York investor to buy Northbrook Apartments

TGM Associates has agreed to acquire the 347 rental units in NorthShore 770, a mixed-use complex near the Edens Expressway that opened in 2016. continue…

Uptown grammar school gets new life as upscale apartments — complete with chalkboards

Fun fact: You can sleep at Indiana Jones’ former grammar school. Graeme Stewart School in Uptown was built in 1905 and served young students for more than a century. After closing due to low enrollment in 2013, the brick-and-limestone building has been transformed into an upscale rental community named Stewart School Lofts. Actor Harrison Ford, who…
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Condos coming to Lower Town Ann Arbor start at $457K

ANN ARBOR, MI – The future site of a $146 million development that will bring more than 600 new apartments and condominiums to Ann Arbor’s Lower Town is still vacant, but there’s a preview of what’s to come just down the street. Units are now for sale at Nine99 Condominiums, which will be located at 999…
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School With A New Purpose

CHICAGO (CBS) — Remember when some 50 Chicago Public Schools shut down back in 2013? One is about to re-open. And when it does, it’ll be OK to sleep in school. The school bell is silent at Stewart Elementary School in the Uptown neighborhood. But soon alarm clocks will blare in the morning. The water fountains are gone….
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Former CPS building in Uptown turned into apartments

A former school building in Uptown has been fitted out with 64 apartments that will begin leasing to tenants March 16. Built in 1905, the former Graeme Stewart School on Kenmore Avenue was designed by Dwight Perkins, who at the time was the Chicago Board of Education’s chief architect. He also designed Schurz and Lane…
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$146M redevelopment of vacant Ann Arbor site approved by 7-4 vote

ANN ARBOR, MI – After hearing a mix of opinions from several residents, the Ann Arbor City Council debated a proposed redevelopment of 1140 Broadway St. late into the night. By a 7-4 vote Monday night, Dec. 4, the council approved the $146 million development project, which includes more than 600 housing units — apartments…
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Highwood apartments trade for $40 million

A San Francisco real estate investor continued its recent spending spree in the Chicago area with the purchase of a $40 million suburban apartment complex, adding to what will likely be a record year of sales for the asset class. Continue….

New development in the works for Ann Arbor’s long-vacant Lower Town site

A new mixed-use development is in the works for 1140 Broadway St. in Ann Arbor. Developer Ron Mucha of Morningside USA has plans to redevelop the vacant 6.4-acre site along Broadway and Maiden Lane with a mix of residential and retail uses in three buildings ranging from one to seven stories. The project is expected…
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Menard’s Parent Pays $68 Million for Mariano’s Anchored Center

A venture of Menards’ parent paid more than $68 million for a Northbrook shopping center, but the home improvement chain isn’t expected to have a store there. Rather, the venture of Menard will collect rent from retailers in fully leased NorthShore 770, which is anchored by a Mariano’s grocery store. continue…

A Luxury Apartment Boom in the Suburbs

Renters in the suburbs have a lot more options these days: Nearly 3,000 units went up in 2016. That’s twice as many as the year before and the highest number since 1997, says Ron DeVries, vice president of Appraisal Research Counselors. What’s fueling the boom? A decade ago, surrounding towns favored building condos. But the…
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