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This Week's Chicago Deal Sheet

September 3, 2019

Brian Rogal | Bisnow Chicago

This fall, Dearborn Denim & Apparel will open a 668 SF storefront at 2342 North Lincoln Ave., and Blowout Junkie will take a 652 SF space at 2340 North Lincoln Ave. Pharmaca will occupy a 2K SF storefront at 2311 North Lincoln Ave., and next spring, Verve Wine, a New York-based retail shop, will open a 4K SF wine bar at 2349 North Lincoln Ave.

Developer McCaffery Enters Senior Housing with New Solera Venture

August 28, 2019

Chuck Sudo | Senior Housing News

A prominent name in real estate development is creating its first senior living projects, partnering with Solera Senior Living on a pipeline in the mid-Atlantic region of the U.S. The Denver-based senior living operator is partnering with Chicago-based McCaffery Interests on Modena Reserve at Kensington, a 135-unit community with independent living, assisted living and memory care in Kensington, Maryland. The $75 million, 167,000-square-foot development is the largest project in Kensington in 40 years and marks McCaffery’s entry into the senior living space.

Four Retailers Join Tenant Lineup at Lincoln Common in Chicago

August 23, 2019

Kristin Hiller | ReBusiness Online

Hines and McCaffery are the developers for Lincoln Common, which will include 100,000 square feet of retail space, 538 luxury apartment units, 40 condominiums, a five-story boutique office building, 156-room senior living community and more than an acre of open space. Previously signed tenants include Equinox, Velvet Taco, Philz Coffee, Athletico, Compass, Play2Day and Kohler Waters Spa.

Kensington’s biggest development in 40 years: A senior living community

August 22, 2019

Jeff Clabaugh | WTOP

McCaffery has partnered with AEW Capital Management to form a joint venture for “Modena Reserve at Kensington,” a 167,000-square-foot senior living community that is expected to be completed by early 2021. “This is the largest project the town has had in over 40 years,” said Kensington Mayor Tracey Furman, who has been an advocate for the project.

Developers Secure Financing To Break Ground On $75M Senior Living Project In Montgomery County

August 22, 2019

Jon Banister | Bisnow Washington D.C.

McCaffery and Solera Senior Living announced Thursday they established a partnership with AEW Capital Management and secured a construction loan from M&T Bank to break ground on the 135-unit Modena Reserve at Kensington. The $75M project is expected to break ground this month on a 2-acre site at the intersection of Metropolitan Avenue and St. Paul Street and deliver in early 2021. The 167K SF building is planned to include a 10K SF courtyard, multiple restaurants, a wine bar, a café, a penthouse lounge and a fitness center.

McCaffery and Solera Senior Living to Develop $75M Project in Kensington, Maryland

August 21, 2019

The two-acre site, located at the intersection of Metropolitan Avenue and St. Paul Street, will offer 135 upscale senior living apartments and a café. The project will implement the latest sustainable design and construction practices and will target LEED® Certified designation. “This is the largest project the town has had in over 40 years,” says Mayor Tracey Furman. Mayor Furman has been an advocate for the project since the proposal and is particularly pleased with the development’s inclusion of two Kensington historic buildings.

Lincoln Common welcoming four new retail tenants

August 20, 2019

Staff Writer | RE Journals

Four new retail tenants—Dearborn Denim & Apparel, Blowout Junkie, Pharmaca and Verve Wine—will soon arrive at Lincoln Common in Chicago’s Lincoln Park neighborhood. Co-developed by Hines and McCaffery Interests, the property recently leased retail space to Velvet Taco, Philz Coffee, Athletico, Compass, Play2Day, Kohler Waters Spa and the project’s anchor, a 33,000-square-foot Equinox.

Lincoln Common Announces Newest Retail Tenants

August 1, 2019

Lincoln Common, the new crossroads of Lincoln Park, today announced its newest tenants: Dearborn Denim & Apparel, Blowout Junkie, Pharmaca and Verve Wine, coming soon to the community. The new storefronts join the quickly growing roster of Lincoln Common retailers, including the 33,000-square-foot Equinox Lincoln Common anchor, Velvet Taco, Philz Coffee, Athletico, Compass, Play2Day, and Kohler Waters Spa.

A peek inside Lincoln Common: Near-identical apartment towers offer luxury living at former Children’s Memorial Hospital site

July 22, 2019

Pamela Dittmer McKuen | Chicago Tribune

When Children’s Memorial Hospital moved from Lincoln Park to Streeterville in 2012, a prime chunk of Lincoln Park real estate went up for grabs. That 6-acre, mostly triangular parcel at the crossroads of Halsted Street and Fullerton and Lincoln avenues, is now a mixed-use development anchored by a duo of sleek 20-story residential towers. Collectively, they are The Apartments at Lincoln Common.

As Lenders Turn From Retail, Other Sectors Take Its Place

July 10, 2019

Brian Rogal | Bisnow Chicago

“There is a ton of money out there, in fact, there is more money than there are deals. We’re a very conservative institution in terms of what we pursue, and there are deals we walk away from, and then we later found out someone else found money for it.” His company recently welcomed the first residents to The Apartments at Lincoln Common, a 538-unit community it developed with Hines in Lincoln Park.

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