Optima Begins Development of 198-Unit Luxury Apartment Project in Chicago’s Lakeview 

CHICAGO — Optima Inc. has begun development of Optima Lakeview, a 198-unit luxury apartment project in Chicago’s Lakeview neighborhood. The seven-story, transit-oriented development will replace a shuttered Treasure Island grocery store and parking lot.

Designed by Hovey, the project also includes 14,000 square feet of street-level commercial space. Residents will have access to 40,000 square feet of amenities, including a rooftop sky deck, pool, indoor basketball court, golf simulator, fitness center, yoga room, sports lounge, pet spa, game room, business center and two conference rooms. The building will offer 94 fully enclosed parking spaces and storage for 208 bicycles.

Optima says it designed larger floor plans to accommodate dedicated space for a home office in today’s work-from-home environment. Completion is slated for March 2022.

Abacus Capital Group Acquires 398-Unit Luxury Apartment Community Near Kansas City’s Country Club Plaza

Fountain View was built in 1998.

KANSAS CITY, MO. — An affiliate of Abacus Capital Group has acquired Fountain View, a 398-unit luxury apartment community located adjacent to the Country Club Plaza shopping center in Kansas City. The purchase price was undisclosed. The property was built in 1998.

Jeff Stingley, Max Helgeson and Michael Spero of CBRE represented the seller, a global investment advisor. The planned southern extension of Kansas City’s streetcar line will make Fountain View a transit-oriented development, according to CBRE.

Accesso to Renovate Crystal Court Within IDS Center in Minneapolis

The updated Crystal Court will feature new collaborative seating areas, a grove of trees and a new water feature.

MINNEAPOLIS — Owner Accesso has unveiled plans to renovate Crystal Court, a central gathering place located within IDS Center in Minneapolis. The renovation plan, which was designed in collaboration with Perkins and Will and New History, calls for updating the “functionality and aesthetics of the space to better meet the evolving needs of today’s consumer.”

Renowned architect Philip Johnson designed the 57-story, 1.4 million-square-foot office tower, which opened in 1972. The updated Crystal Court will feature new collaborative seating areas, a grove of trees and a new water feature. Accesso, a manager, owner and operator, boasts a portfolio of 35 office properties spanning 15.6 million square feet throughout the U.S.

U.S. Quarterly Same-Store Sales for McDonald’s Rise Nearly 5 Percent

CHICAGO — McDonald’s reported that its U.S. same-store sales rose 4.6 percent in its third quarter, which ended Sept. 30. President and CEO Chris Kempczinski cites the fast food chain’s drive-thru presence, delivery and digital capabilities as furthering its competitive advantage.

The Chicago-based company says that more Americans turned to McDonald’s for dinner and promotional activity such as the Travis Scott meal drove sales. Customers could purchase the famous rapper's favorite meal for a limited time. McDonald’s plans to release full third-quarter earnings before the market opens Nov. 9 and will also broadcast its investor earnings conference call that day.

CFC Completes 9,982 SF Dispensary for Greenhouse in Northbrook, Illinois

Located at 755 Skokie Blvd., the 9,982-square-foot project serves as a flagship dispensary for Greenhouse.

NORTHBROOK, ILL. — Cannabis Facility Construction (CFC) has completed building a new recreational and medical cannabis dispensary for Greenhouse in Northbrook. Located at 755 Skokie Blvd., the 9,982-square-foot project serves as a flagship dispensary for the brand.

The building features an open floor plan with high vaulted ceilings and abundant natural light. To accommodate social distancing, all points of sale are six feet apart. In addition to the retail space, the project features back-office space with a secure vault for inventory storage and an advanced security system.

Colliers Mortgage Provides $40M Refinancing for Multifamily Property in Minneapolis

Stevens Community Apartments consists of 618 units throughout 23 buildings.

MINNEAPOLIS — Colliers Mortgage has provided a $40 million Fannie Mae loan for the refinancing of Stevens Community Apartments in Minneapolis. The 618-unit multifamily property consists of 23 buildings.

The asset was constructed in phases from 1913 to 1964 and has been renovated several times. The loan features a 12-year term and a 30-year amortization schedule. Stevens Community Associates LP was the borrower.

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