A significant milestone has been achieved for the redevelopment of the historic Werner Brothers Storage Building in Rogers Park, thanks to crucial state funding that has been secured by the project’s developers.
Located at 7613 N. Paulina St., the building was constructed in the 1920s and designed by George S. Kingsley.
In 2023, it was listed by Preservation Chicago as one of the most endangered historical buildings.
The upcoming project, titled The Werner at Howard & Paulina, is being developed by Housing For All, Visionary Ventures NFP, and JTE Real Estate.
This $56 million affordable housing initiative will create 80 affordable housing units for households earning between 30% and 80% of the area median income.
In addition to rehabilitating the Werner Brothers structure, the developers will demolish a neighboring one-story building to make way for an eight-story residential facility.
With the team’s recent award of over $1.6 million in low-income housing tax credits, they are aiming to commence construction in summer 2026 and expect initial move-ins by the latter half of 2027.
In related real estate news, Dallas-based MedProperties Realty Advisors has acquired the Millennium Medical Center, a 42,000-square-foot outpatient medical facility located at 10604 Southwest Highway in Chicago Ridge.
Although the purchase price remains undisclosed, the two-story building, established in 2018 by a group of local physicians, now serves as a valuable asset for MedProperties, with an affiliate of US Oncology as its lead tenant.
Moreover, another developer has purchased a former Harley-Davidson site located at 6844 N. Western Ave. in West Ridge for an undisclosed price.
The 0.7-acre property is zoned within a community shopping district, allowing for a combination of commercial and residential developments.
On the leasing front, Seefried Industrial Properties has fully preleased O’Hare Logistics Center 16, a 190,000-square-foot distribution hub situated at 1305 E. Algonquin Road in Mount Prospect.
The expansion of Accelerated Global Solutions into this new facility has been made possible through the efforts of Colliers’ Jonathan Kohn and John D’Orazio, who represented the tenant, while CBRE’s Jason Lev, John Suerth, and Jimmy Kowalczyk represented Seefried.
Shifting to construction developments, McHugh Construction, in partnership with Nacional Group, has initiated preconstruction for the 127,000-square-foot Wagner Community Center in Elmhurst.
This new facility is set to replace the existing 32,000-square-foot community center located at 615 N. West Ave. and is scheduled for demolition this fall, with construction expected to break ground in December.
The grand opening for the new center is anticipated for fall 2027.
Meanwhile, Skender Construction has also broken ground on the Poupard Place, an affordable housing project comprising 48 housing units in Northbrook.
Designed by Cordogan, Clark & Associates, this development aims for completion by next summer.
Furthermore, the Aspire Center for Workforce Innovation has officially opened its doors at 5500 W. Madison St. in Austin.
This facility, previously Robert Emmet Elementary School, has undergone a six-year design and adaptive reuse project by Lamar Johnson Collaborative, transforming it into a hub for workforce training, education, healthcare support, and economic development opportunities.
In another significant development, Chicago State University, alongside CBRE, has launched a request for proposals for University Village 95, a mixed-use development initiative on the South Side.
The RFP process marks the university’s ongoing efforts to enhance student housing and stimulate economic growth along the 95th Street corridor.
The site permits approximately 232,000 square feet of new construction across two acres and has the potential to deliver up to 528 student beds alongside 25,000 square feet of retail space, aiming for occupancy in 2027.
On the financing side, Canyon Partners Real Estate has extended a senior loan of $106.3 million to a joint venture led by Mavrek Development to refinance The Saint Grand located in Streeterville.
This property features a newly constructed 21-story mixed-use tower that includes 248 market-rate apartment units, a 103-stall parking garage, and 47,000 square feet of retail space.
The transaction was facilitated by JLL Capital Markets.
Additionally, Clune Construction is collaborating with Generis Collective in support of Tecovas’ nationwide retail expansion, with recent constructions completed in Pittsburgh and underway in cities including Cleveland, New York City, Knoxville, Minneapolis, and Chicago.
image source from：bisnow
