Tag Archives: multifamily

Groundbreaking on 301-Unit Mixed-Use Community in Arlington Heights, IL

Initial phase is part of master-planned community at gateway to suburb

ARLINGTON HEIGHTS, IL — Bradford Allen Development Company, part of Bradford Allen, a national full-service real estate firm, along with development partner Moceri+Roszak, today held a ceremonial groundbreaking for the first phase of their mixed-use community at the southeast corner of Arlington Heights and Algonquin roads in Arlington Heights, Ill., a northwest suburb of Chicago.

Bradford Allen Development Company and Moceri+Roszak have begun construction on a 301-unit mixed-use community that represents the first phase of a broader 16-acre master plan along the Jane Addams Tollway in Arlington Heights, Ill.
Photo by Matt Mansueto Photography, Inc.

The initial phase, which will consist of 301 apartments and approximately 26,000 square feet of ground-floor retail, is part of a master-planned community at the southern end of Arlington Heights. The broader development also includes ArlingtonMed, a 150,000-square-foot medical office complex at 155 E. Algonquin Road, a building that previously housed the Daily Herald newspaper and up to two more buildings.

“This groundbreaking marks a significant step in transforming this highly visible site into a vibrant, mixed-use destination that serves as a gateway to Arlington Heights,” said Jeff Bernstein, co-founder of Bradford Allen. “With exceptional residential and retail options and a cutting-edge medical facility, our development aims to enrich the community and catalyze future investment in Arlington Heights.”

“At a time when few developments are able to obtain financing and begin construction, Bradford Allen and village leaders have worked together to bring a major new project to the community, one that will meet growing demand for modern rental housing,” said Larry Elbaum, co-founder of Bradford Allen.

“Working alongside the Village of Arlington Heights, we’ve been able to turn a shared vision into a tangible reality,” said Brian Carley, executive managing director of development at Bradford Allen. “This collaboration is a testament to how great things can happen when public and private sectors work together with a clear goal in mind.”

Designed by Thomas Roszak Architecture, the eight-story residential building will offer a mix of studio, one-, two- and three-bedroom floor plans, as well as 17,500 square feet of indoor and outdoor amenities. They include an outdoor pool and spa with sun deck, fitness center with yoga studio, social and media rooms, coworking space, dog walk and spa, golf simulator, grill stations and more.

The exterior of the building will feature green vertical accents that pay homage to the nearby Ned Brown Preserve — also known as Busse Woods — and Illinois prairie aesthetic.

Clark Construction is serving as general contractor on the development, with completion expected in 2026. The multifamily building and ArlingtonMed represent the first two of up to four buildings in the master plan, whose prominent location alongside the Jane Addams Tollway offers visibility to over 150,000 vehicles per day.

Please visit www.arlingtonheights.apartments for more information and future updates on the project.

About Bradford Allen Development Company:
Formed in 2022, Bradford Allen Development Company (BADC) currently has approximately $1 billion in active developments across the country representing all major asset classes. BADC is a wholly owned subsidiary of Bradford Allen, a vertically integrated real estate firm providing end-to-end real estate investment, transaction and management solutions for hospitality, multifamily, commercial office and mixed-use assets across the U.S. The firm’s roots are in brokerage and property operations, a lineage that traces back to 2003 when Jeffrey Bernstein and Laurence Elbaum founded Bradford Allen Realty Services. For more information, visit bradfordallen.com.

# # #

For more information or to schedule an interview,?contact David Matthews, dmattews@taylorjohnson.com, (312) 267-4523.

 

Bradford Allen Acquires The Henry in Chicago’s Ravenswood Neighborhood

Mixed-use property completed in 2019 includes Culver’s restaurant and 38 luxury rental apartments

CHICAGO – August 8, 2023 – Bradford Allen Investment Advisors (BAIA) today announced it has closed on the purchase of The Henry, a mixed-use property at 4346 N. Honore St. in Chicago’s Ravenswood neighborhood. The five-story elevator building, completed in 2019 and located just steps away from the Montrose Brown Line CTA stop, includes 38 one- and two-bedroom luxury rental apartments and a ground-level Culver’s restaurant.

uires

John Butler, executive managing director, and Danielle Morse, senior managing director, negotiated the purchase on behalf of new ownership. The seller of the property was represented by Tyler Hague and Lauren Stoliar of Colliers.

Common resident amenities in the pet-friendly building include an indoor/outdoor rooftop lounge and terrace with built-in grills, a lobby lounge and bike storage room. Individual apartments feature in-unit laundry, custom cabinetry, subway tiling, quartz countertops and walk-in closets. At the time of purchase, the building was 97% occupied. Rents range from $1,751 to $3,000.

“The Henry’s Ravenswood location offers a neighborhood vibe and checks many of the boxes today’s renters desire, including modern amenities and easy access to bars, restaurants, shops and entertainment all located within a mile radius of the building,” said Morse. “We are excited to add this high-quality, newer construction, urban, transit-oriented property to our expanding Chicago-area multifamily portfolio.”


About Bradford Allen Investment Advisors
Founded in 2013, currently with over $4bn in assets under management and over 3 million square feet of real estate, Bradford Allen Investment Advisors (BAIA) is an alternative asset manager specializing in commercial real estate and private placements. A wholly owned subsidiary of Bradford Allen—a vertically integrated real estate firm—BAIA provides end-to-end real estate transaction and management solutions for multifamily, commercial office, and mixed-use development across the US. The firm’s roots are in brokerage and property operations, a lineage that traces back to 2003 when the firm’s principals—Jeffrey Bernstein and Laurence Elbaum—founded Bradford Allen Realty Services.

 

Bradford Allen Appoints Danielle Morse to lead Multifamily Investment Platform

CHICAGO – February 7, 2023 – Jeffrey A. Bernstein and Laurence B. Elbaum, principals and co-founders of Bradford Allen, are pleased to announce Danielle Morse has been named Senior Managing Director and will lead Bradford Allen Investment Advisors’ (BAIA) multifamily investment platform.

In this role, Danielle will manage the multifamily acquisitions program from deal sourcing to closing. Consistent with BA’s vertically integrated investment philosophy, she will also supervise the portfolio’s in-house asset and property management teams.

“We couldn’t be happier that Danielle is bringing her passion, extensive experience, and creativity to BAIA,” said founder Jeff Bernstein. “As we expand into new product segments, having a deep bench of experts with successful track records allows us to scale up nimbly and confidently. Danielle’s entrepreneurial approach, local market knowledge, and transactional experience are a great fit for what we’re trying to accomplish.”

In addition to her over two decades of experience in multifamily acquisitions and operations, she is an accomplished professional artist.


About Bradford Allen Investment Advisors
Founded in 2013, currently with over $4bn in assets under management and over 3 million square feet of real estate, Bradford Allen Investment Advisors (BAIA) is an alternative asset manager specializing in commercial real estate and private placements. A wholly owned subsidiary of Bradford Allen—a vertically integrated real estate firm—BAIA provides end-to-end real estate transaction and management solutions for multifamily, commercial office, and mixed-use development across the US. The firm’s roots are in brokerage and property operations, a lineage that traces back to 2003 when the firm’s principals—Jeffrey Bernstein and Laurence Elbaum—founded Bradford Allen Realty Services.