Category: Chicago

Draper and Kramer expands Chicago portfolio with acquisition of HUBBARD221

HUBBARD221 Roof Deck and Pool
Amenities at HUBBARD221 include an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub.


Draper and Kramer, Incorporated, a national real estate services firm, today announced it has expanded its multifamily portfolio with the acquisition of HUBBARD221, a 195-unit luxury apartment tower in Chicago’s River North neighborhood. The property was purchased by Draper and Kramer through a 1031 exchange following the firm’s sale of Prairie Shores, a 1,675-unit, multi-building apartment community in Chicago’s Bronzeville neighborhood. Terms of the HUBBARD221 purchase were not disclosed.

Located at 221 W. Hubbard St., the 23-story property features a mix of studio, one-, two- and three-bedroom units, including a selection of penthouse residences, ranging from 467 to 1,511 square feet. Residents of the community enjoy easy access to retail, nightlife and restaurants, as well as leading employers throughout River North and the nearby central business district.

“As a company with a long and successful track record of owning and operating in Chicago, we remain bullish on the local multifamily market and its ability to deliver attractive risk-adjusted returns in the months and years ahead,” said Blas Puzon, chief investment officer with Chicago-based Draper and Kramer. “In terms of what constitutes a core investment under Draper and Kramer’s current acquisition strategy, HUBBARD221 checked all the boxes. It’s a high-quality asset that will stand the test of time thanks to its ability to deliver the live-work-play lifestyle that so many renters seek.”

Built in 2017, HUBBARD221 offers modern, open floor plans and luxury finishes throughout individual apartments, such as gray-tone plank flooring; gourmet kitchens with contemporary cabinetry, quartz countertops, porcelain backsplashes and stainless steel appliances; and spa-like baths with floating vanities and Kohler fixtures. All units have 9-foot or higher ceilings, floor-to-ceiling windows, custom closets and in-unit washer and dryer. Select apartments also offer a private balcony or terrace, built-in desk and walk-in closets.

Shared amenities at HUBBARD221 include a resident lounge; dedicated co-working space; chef’s kitchen and adjacent party room; state-of-the-art fitness center, yoga studio and meditation lounge; and an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub. The tower’s lower levels house a dog run, pet spa, bike storage and bike repair station.

Draper and Kramer, one of the largest property management firms in Chicago, will operate HUBBARD221 going forward, adding to its portfolio of more than 8,000 rental units across Chicago, St. Louis, Dallas and San Antonio.

“Our property management division has a proven track record with luxury-level buildings, both here in Chicago and in other markets,” said Puzon. “It should be a smooth transition for residents as our team continues to deliver the high level of service to which they’ve grown accustomed.”

Draper and Kramer was represented internally in the transaction. John Jaeger, Dan Cohen and Justin Puppi of CBRE represented the seller.

Draper and Kramer expands Chicago portfolio with acquisition of HUBBARD221

HUBBARD221 Roof Deck and Pool
Amenities at HUBBARD221 include an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub.


Draper and Kramer, Incorporated, a national real estate services firm, today announced it has expanded its multifamily portfolio with the acquisition of HUBBARD221, a 195-unit luxury apartment tower in Chicago’s River North neighborhood. The property was purchased by Draper and Kramer through a 1031 exchange following the firm’s sale of Prairie Shores, a 1,675-unit, multi-building apartment community in Chicago’s Bronzeville neighborhood. Terms of the HUBBARD221 purchase were not disclosed.

Located at 221 W. Hubbard St., the 23-story property features a mix of studio, one-, two- and three-bedroom units, including a selection of penthouse residences, ranging from 467 to 1,511 square feet. Residents of the community enjoy easy access to retail, nightlife and restaurants, as well as leading employers throughout River North and the nearby central business district.

“As a company with a long and successful track record of owning and operating in Chicago, we remain bullish on the local multifamily market and its ability to deliver attractive risk-adjusted returns in the months and years ahead,” said Blas Puzon, chief investment officer with Chicago-based Draper and Kramer. “In terms of what constitutes a core investment under Draper and Kramer’s current acquisition strategy, HUBBARD221 checked all the boxes. It’s a high-quality asset that will stand the test of time thanks to its ability to deliver the live-work-play lifestyle that so many renters seek.”

Built in 2017, HUBBARD221 offers modern, open floor plans and luxury finishes throughout individual apartments, such as gray-tone plank flooring; gourmet kitchens with contemporary cabinetry, quartz countertops, porcelain backsplashes and stainless steel appliances; and spa-like baths with floating vanities and Kohler fixtures. All units have 9-foot or higher ceilings, floor-to-ceiling windows, custom closets and in-unit washer and dryer. Select apartments also offer a private balcony or terrace, built-in desk and walk-in closets.

Shared amenities at HUBBARD221 include a resident lounge; dedicated co-working space; chef’s kitchen and adjacent party room; state-of-the-art fitness center, yoga studio and meditation lounge; and an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub. The tower’s lower levels house a dog run, pet spa, bike storage and bike repair station.

Draper and Kramer, one of the largest property management firms in Chicago, will operate HUBBARD221 going forward, adding to its portfolio of more than 8,000 rental units across Chicago, St. Louis, Dallas and San Antonio.

“Our property management division has a proven track record with luxury-level buildings, both here in Chicago and in other markets,” said Puzon. “It should be a smooth transition for residents as our team continues to deliver the high level of service to which they’ve grown accustomed.”

Draper and Kramer was represented internally in the transaction. John Jaeger, Dan Cohen and Justin Puppi of CBRE represented the seller.



Draper and Kramer expands Chicago portfolio with acquisition of HUBBARD221

HUBBARD221 Roof Deck and Pool
Amenities at HUBBARD221 include an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub.

Draper and Kramer, Incorporated, a national real estate services firm, today announced it has expanded its multifamily portfolio with the acquisition of HUBBARD221, a 195-unit luxury apartment tower in Chicago’s River North neighborhood. The property was purchased by Draper and Kramer through a 1031 exchange following the firm’s sale of Prairie Shores, a 1,675-unit, multi-building apartment community in Chicago’s Bronzeville neighborhood. Terms of the HUBBARD221 purchase were not disclosed.

Located at 221 W. Hubbard St., the 23-story property features a mix of studio, one-, two- and three-bedroom units, including a selection of penthouse residences, ranging from 467 to 1,511 square feet. Residents of the community enjoy easy access to retail, nightlife and restaurants, as well as leading employers throughout River North and the nearby central business district.

“As a company with a long and successful track record of owning and operating in Chicago, we remain bullish on the local multifamily market and its ability to deliver attractive risk-adjusted returns in the months and years ahead,” said Blas Puzon, chief investment officer with Chicago-based Draper and Kramer. “In terms of what constitutes a core investment under Draper and Kramer’s current acquisition strategy, HUBBARD221 checked all the boxes. It’s a high-quality asset that will stand the test of time thanks to its ability to deliver the live-work-play lifestyle that so many renters seek.”

Built in 2017, HUBBARD221 offers modern, open floor plans and luxury finishes throughout individual apartments, such as gray-tone plank flooring; gourmet kitchens with contemporary cabinetry, quartz countertops, porcelain backsplashes and stainless steel appliances; and spa-like baths with floating vanities and Kohler fixtures. All units have 9-foot or higher ceilings, floor-to-ceiling windows, custom closets and in-unit washer and dryer. Select apartments also offer a private balcony or terrace, built-in desk and walk-in closets.

Shared amenities at HUBBARD221 include a resident lounge; dedicated co-working space; chef’s kitchen and adjacent party room; state-of-the-art fitness center, yoga studio and meditation lounge; and an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub. The tower’s lower levels house a dog run, pet spa, bike storage and bike repair station.

Draper and Kramer, one of the largest property management firms in Chicago, will operate HUBBARD221 going forward, adding to its portfolio of more than 8,000 rental units across Chicago, St. Louis, Dallas and San Antonio.

“Our property management division has a proven track record with luxury-level buildings, both here in Chicago and in other markets,” said Puzon. “It should be a smooth transition for residents as our team continues to deliver the high level of service to which they’ve grown accustomed.”

Draper and Kramer was represented internally in the transaction. John Jaeger, Dan Cohen and Justin Puppi of CBRE represented the seller.

Draper and Kramer expands Chicago portfolio with acquisition of HUBBARD221

HUBBARD221 Roof Deck and Pool
Amenities at HUBBARD221 include an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub.

Draper and Kramer, Incorporated, a national real estate services firm, today announced it has expanded its multifamily portfolio with the acquisition of HUBBARD221, a 195-unit luxury apartment tower in Chicago’s River North neighborhood. The property was purchased by Draper and Kramer through a 1031 exchange following the firm’s sale of Prairie Shores, a 1,675-unit, multi-building apartment community in Chicago’s Bronzeville neighborhood. Terms of the HUBBARD221 purchase were not disclosed.

Located at 221 W. Hubbard St., the 23-story property features a mix of studio, one-, two- and three-bedroom units, including a selection of penthouse residences, ranging from 467 to 1,511 square feet. Residents of the community enjoy easy access to retail, nightlife and restaurants, as well as leading employers throughout River North and the nearby central business district.

“As a company with a long and successful track record of owning and operating in Chicago, we remain bullish on the local multifamily market and its ability to deliver attractive risk-adjusted returns in the months and years ahead,” said Blas Puzon, chief investment officer with Chicago-based Draper and Kramer. “In terms of what constitutes a core investment under Draper and Kramer’s current acquisition strategy, HUBBARD221 checked all the boxes. It’s a high-quality asset that will stand the test of time thanks to its ability to deliver the live-work-play lifestyle that so many renters seek.”

Built in 2017, HUBBARD221 offers modern, open floor plans and luxury finishes throughout individual apartments, such as gray-tone plank flooring; gourmet kitchens with contemporary cabinetry, quartz countertops, porcelain backsplashes and stainless steel appliances; and spa-like baths with floating vanities and Kohler fixtures. All units have 9-foot or higher ceilings, floor-to-ceiling windows, custom closets and in-unit washer and dryer. Select apartments also offer a private balcony or terrace, built-in desk and walk-in closets.

Shared amenities at HUBBARD221 include a resident lounge; dedicated co-working space; chef’s kitchen and adjacent party room; state-of-the-art fitness center, yoga studio and meditation lounge; and an expansive rooftop terrace with grilling stations, a fire pit, cabanas, a pool and hot tub. The tower’s lower levels house a dog run, pet spa, bike storage and bike repair station.

Draper and Kramer, one of the largest property management firms in Chicago, will operate HUBBARD221 going forward, adding to its portfolio of more than 8,000 rental units across Chicago, St. Louis, Dallas and San Antonio.

“Our property management division has a proven track record with luxury-level buildings, both here in Chicago and in other markets,” said Puzon. “It should be a smooth transition for residents as our team continues to deliver the high level of service to which they’ve grown accustomed.”

Draper and Kramer was represented internally in the transaction. John Jaeger, Dan Cohen and Justin Puppi of CBRE represented the seller.

Draper and Kramer tops off and reveals name of 275-unit apartment tower in Chicago’s South Loop

Aspire Residences
Draper and Kramer_Aspire Rendering: Designed by Solomon Cordwell Buenz, Aspire features an asymmetric base and glass tower with a “sawtooth” facade that maximizes views within units.


Draper and Kramer, Incorporated, yesterday celebrated the topping-off of its new 24-story, 275-unit apartment tower at 2111 S. Wabash Ave. in Chicago’s South Loop. Called Aspire Residences, the transit-oriented development—located less than a block from the CTA’s Cermak/McCormick Place Green Line station—is the largest residential community built in the South Loop’s McCormick Square area since 2010. Completion is scheduled for summer 2020.

“Aspire continues the transformation of this corner of the South Loop into a vibrant mixed-use district that is close to downtown while enjoying its own distinct identity,” said Ed Polich, executive vice president of real estate with Draper and Kramer. “This area looks very different today than it did a decade ago, with a number of new entertainment and recreation offerings coming online, so we saw an opportunity to introduce a new yet attainable level of housing that reflects the evolution of the neighborhood. With a variety of floor plans, an appealing mix of amenity offerings and a highly walkable location near the lakefront and historic Motor Row, Aspire checks all the boxes.”

Aspire will offer a mix of one-, two- and three-bedroom plans ranging in size from 529 to 1,411 square feet and priced from $1,800 per month. Residences will feature open layouts, plank flooring, floor-to-ceiling windows and virtually unobstructed views in all directions. Modern kitchens boast European-style cabinets, stone countertops and stainless steel appliances.

The tower’s fourth floor will house 25,000 square feet of amenity space, including a pub lounge, arcade, fitness center and work-from-home spaces. Outdoor amenities include a pool and landscaped roof terrace.

Designed by Solomon Cordwell Buenz, Aspire features an asymmetric base and glass tower with a “sawtooth” facade that maximizes views within units and will create a prismatic effect as sunlight dances across the building throughout the day. The general contractor for the project is a joint venture between Chicago-based Power Construction Company LLC and Ujamaa Construction.

According to Polich, Aspire’s development is part of an overall strategy by Draper and Kramer to build or acquire well-located Class A properties in submarkets where long-term growth is expected.

“We believe this particular pocket of the South Loop is like Fulton Market five years ago or Wicker Park in the 1990s—a place that benefits from a rich history while embracing new uses that support continued growth and investment,” Polich said. “Here, that growth is especially evident in a pipeline of new entertainment offerings that continue to shape this area as a destination in and of itself, making it all the more attractive for new residential development.”

Aspire is convenient to a number of restaurant and nightlife offerings, some of which are housed in historic buildings along Motor Row. It is also central to several new hotels, the Wintrust Arena and McCormick Place. Other cultural, recreational and entertainment destinations along the lakefront, including Soldier Field, the Museum Campus, Lakefront Trail and Northerly Island, are also nearby.

In addition to being steps from the Cermak/McCormick Place station—which offers a five-minute train ride to downtown—Aspire has convenient access to Lake Shore Drive and the Dan Ryan, Stevenson and Eisenhower expressways.



Draper and Kramer tops off and reveals name of 275-unit apartment tower in Chicago’s South Loop

Aspire Residences
Draper and Kramer_Aspire Rendering: Designed by Solomon Cordwell Buenz, Aspire features an asymmetric base and glass tower with a “sawtooth” facade that maximizes views within units.

Draper and Kramer, Incorporated, yesterday celebrated the topping-off of its new 24-story, 275-unit apartment tower at 2111 S. Wabash Ave. in Chicago’s South Loop. Called Aspire Residences, the transit-oriented development—located less than a block from the CTA’s Cermak/McCormick Place Green Line station—is the largest residential community built in the South Loop’s McCormick Square area since 2010. Completion is scheduled for summer 2020.

“Aspire continues the transformation of this corner of the South Loop into a vibrant mixed-use district that is close to downtown while enjoying its own distinct identity,” said Ed Polich, executive vice president of real estate with Draper and Kramer. “This area looks very different today than it did a decade ago, with a number of new entertainment and recreation offerings coming online, so we saw an opportunity to introduce a new yet attainable level of housing that reflects the evolution of the neighborhood. With a variety of floor plans, an appealing mix of amenity offerings and a highly walkable location near the lakefront and historic Motor Row, Aspire checks all the boxes.”

Aspire will offer a mix of one-, two- and three-bedroom plans ranging in size from 529 to 1,411 square feet and priced from $1,800 per month. Residences will feature open layouts, plank flooring, floor-to-ceiling windows and virtually unobstructed views in all directions. Modern kitchens boast European-style cabinets, stone countertops and stainless steel appliances.

The tower’s fourth floor will house 25,000 square feet of amenity space, including a pub lounge, arcade, fitness center and work-from-home spaces. Outdoor amenities include a pool and landscaped roof terrace.

Designed by Solomon Cordwell Buenz, Aspire features an asymmetric base and glass tower with a “sawtooth” facade that maximizes views within units and will create a prismatic effect as sunlight dances across the building throughout the day. The general contractor for the project is a joint venture between Chicago-based Power Construction Company LLC and Ujamaa Construction.

According to Polich, Aspire’s development is part of an overall strategy by Draper and Kramer to build or acquire well-located Class A properties in submarkets where long-term growth is expected.

“We believe this particular pocket of the South Loop is like Fulton Market five years ago or Wicker Park in the 1990s—a place that benefits from a rich history while embracing new uses that support continued growth and investment,” Polich said. “Here, that growth is especially evident in a pipeline of new entertainment offerings that continue to shape this area as a destination in and of itself, making it all the more attractive for new residential development.”

Aspire is convenient to a number of restaurant and nightlife offerings, some of which are housed in historic buildings along Motor Row. It is also central to several new hotels, the Wintrust Arena and McCormick Place. Other cultural, recreational and entertainment destinations along the lakefront, including Soldier Field, the Museum Campus, Lakefront Trail and Northerly Island, are also nearby.

In addition to being steps from the Cermak/McCormick Place station—which offers a five-minute train ride to downtown—Aspire has convenient access to Lake Shore Drive and the Dan Ryan, Stevenson and Eisenhower expressways.

Interra Realty brokers largest multifamily sale in a decade in Chicago’s Kenwood neighborhood

Interra Realty brokered the $5.575 million sale of 4740-48 S. Greenwood Ave., a 31-unit rental building in Chicago’s Kenwood neighborhood. It was the highest per-unit price paid for a single property in Kenwood in the last 10 years.


Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the sale of 4740-48 S. Greenwood Ave., a four-story, 31-unit rental community in Chicago’s Kenwood neighborhood. The asset sold for $5.575 million, or $179,839 per unit, which was the highest price per unit for a single property in Kenwood in the last 10 years, according to CoStar data.

Interra Senior Managing Partner Joe Smazal represented the private seller in the transaction, while Associate Harrison Pinkus represented the private buyer. The building’s apartments were fully occupied at the time of closing.

“Investors are actively seeking deals in Kenwood and other fast-growing submarkets on Chicago’s South Side,” said Smazal. “This gut-rehabbed building with modern finishes and vintage charm is a rarely available asset situated in a historic area of Kenwood surrounded by mansions with large, deep lots. We procured multiple written offers and closed the deal at a price that reflects the desirability of investments in this neighborhood.”

Built in 1922, 4740-48 S. Greenwood offers 12 one-bedroom and 19 two-bedroom apartments, each with one bath. Residences feature hardwood flooring and updated kitchens with granite countertops and stainless steel appliances. Other on-site amenities include laundry facilities and a large courtyard.

“Well-maintained and professionally managed, the property offered buyers a stabilized property in an ideal location near the University of Chicago and public transportation,” added Smazal. “With several large-scale mixed-use developments planned nearby in the South Loop, and transformative projects like the Obama Presidential Center to the south, Kenwood is among the neighborhoods that will see continued investment.”

Residents of 4740-48 S. Greenwood are within walking distance of Hyde Park’s trendy retail stores and restaurants, as well as the Lake Michigan shoreline and the 47th Street Metra stop. The property also offers convenient access to Lake Shore Drive and an express CTA bus route for a quick commute to downtown Chicago.



Interra Realty brokers largest multifamily sale in a decade in Chicago’s Kenwood neighborhood

Interra Realty brokered the $5.575 million sale of 4740-48 S. Greenwood Ave., a 31-unit rental building in Chicago’s Kenwood neighborhood. It was the highest per-unit price paid for a single property in Kenwood in the last 10 years.

Interra Realty, a Chicago-based commercial real estate investment services firm, today announced it brokered the sale of 4740-48 S. Greenwood Ave., a four-story, 31-unit rental community in Chicago’s Kenwood neighborhood. The asset sold for $5.575 million, or $179,839 per unit, which was the highest price per unit for a single property in Kenwood in the last 10 years, according to CoStar data.

Interra Senior Managing Partner Joe Smazal represented the private seller in the transaction, while Associate Harrison Pinkus represented the private buyer. The building’s apartments were fully occupied at the time of closing.

“Investors are actively seeking deals in Kenwood and other fast-growing submarkets on Chicago’s South Side,” said Smazal. “This gut-rehabbed building with modern finishes and vintage charm is a rarely available asset situated in a historic area of Kenwood surrounded by mansions with large, deep lots. We procured multiple written offers and closed the deal at a price that reflects the desirability of investments in this neighborhood.”

Built in 1922, 4740-48 S. Greenwood offers 12 one-bedroom and 19 two-bedroom apartments, each with one bath. Residences feature hardwood flooring and updated kitchens with granite countertops and stainless steel appliances. Other on-site amenities include laundry facilities and a large courtyard.

“Well-maintained and professionally managed, the property offered buyers a stabilized property in an ideal location near the University of Chicago and public transportation,” added Smazal. “With several large-scale mixed-use developments planned nearby in the South Loop, and transformative projects like the Obama Presidential Center to the south, Kenwood is among the neighborhoods that will see continued investment.”

Residents of 4740-48 S. Greenwood are within walking distance of Hyde Park’s trendy retail stores and restaurants, as well as the Lake Michigan shoreline and the 47th Street Metra stop. The property also offers convenient access to Lake Shore Drive and an express CTA bus route for a quick commute to downtown Chicago.

Fifield Cos. announces seven executive-level promotions, hires senior associate

Lindsey Senn
Fifield Cos. has promoted Lindsey Senn to executive vice president, overseeing finance and development for the firm.


Chicago-based developer Fifield Cos. has announced the promotion of six executives and one associate, as well as the addition of a new senior associate, in response to an outlook of continued growth in top markets such as Chicago, Los Angeles, Dallas, Miami and Washington, DC.

Promotions include senior vice president Lindsey Senn to executive vice president, responsible for the firm’s finance and development team. At Fifield, Senn, who studied real estate and urban land economics at the Wisconsin School of Business, has played a key role in evaluating investment opportunities and overseeing $600 million of multifamily development in the Chicago market. Senn’s recent successes include financing and securing Target as the anchor retail tenant for Logan, a transit-oriented mixed-use development currently under construction in Logan Square, as well as leading the redesign of the recently topped-off 740 North Aberdeen in West Town, transforming plans inherited from the seller into a financially feasible,188-unit multifamily mid-rise.

“As one of our most innovative team members, Lindsey has excelled in data-oriented design, complex construction financing, and asset management, where she often exceeds projections,” said Steve Fifield, chairman of Fifield Cos. “Since joining Fifield six years ago, she rose to become the youngest vice president in our company’s history and continues to bring her collaborative, visionary approach to problem solving to our workplace every day.”

Other promotions at the firm include:

  • Jon Schneider, from vice president to senior vice president on the asset management team, driving the creation and implementation of asset-specific business plan strategies, and the financial performance of Fifield’s multifamily assets. Schneider, whose background is in accounting and finance, spent a decade with GEM Realty Capital, where he oversaw a national portfolio of multifamily assets.
  • Givi Peradze, from vice president to senior vice president, leading the overall construction management, supervision and coordination of large-scale projects in Chicago. Peradze, who has a background in civil and structural engineering, spent a decade working as a senior project manager for Lendlease and applies more than 20 years of construction experience to his role.
  • Greg Vance, from vice president to senior vice president, managing the construction, architecture and design of Fifield developments in metro Los Angeles. Vance, who holds a degree in architecture, worked for several top 25 general contractors throughout the country prior to joining Fifield, and is involved in all facets of development, from schematic design through project completion.
  • Navi Sandhu, from assistant vice president to vice president, responsible for underwriting multifamily development projects and handling debt and equity financing. Prior to joining Fifield, Sandhu worked as an analyst on development platforms structured to provide growth capital and on an office investment sales team. She holds an MBA from Northwestern University’s Kellogg School of Management.
  • Joe Pitsor, from senior associate to assistant vice president of finance and development, handling underwriting for multifamily developments and acquisition. Pitsor has been involved in the financing of over $150 million of multifamily investments and oversees the company’s RandyCo division, a Chicago-based neighborhood property rehabilitation program. A licensed CPA, he worked in the real estate advisory practice of PricewaterhouseCoopers prior to joining Fifield.
  • Margaret Hinz, from senior escrow officer to assistant vice president, responsible for the execution of pre-development and construction cash management, as well as building and maintaining relationships with lenders, inspectors, vendors and title companies. Prior to joining Fifield, Hinz was an escrow officer at the Illinois Real Estate Title Center, overseeing construction escrow for the firm.

“Fifield has always been structured in a way to recruit top talent and give them the discretion to grow and succeed,” said Kevin Farrell, president of Fifield Cos. “The promotion of these seven individuals is a reflection of how instrumental they have been in the exceptional developments we’ve recently completed and that are underway in Chicago and Los Angeles, as well as other markets across the country where we are active. In adding to our team, we anticipate continuing this trajectory, especially as we explore multifamily opportunities in new markets and consider additional asset classes.”

New to Fifield is Justin Westfall, who joins as a senior associate in the finance and development group. Westfall was previously a vice president in the valuation and advisory services group at Jones Lang LaSalle, and began his real estate career at Cushman & Wakefield as a transaction advisor. He has an MBA in finance and real estate from Northwestern University’s Kellogg School of Management and a bachelor’s degree in finance from Indiana University.



Fifield Cos. announces seven executive-level promotions, hires senior associate

Lindsey Senn
Fifield Cos. has promoted Lindsey Senn to executive vice president, overseeing finance and development for the firm.

Chicago-based developer Fifield Cos. has announced the promotion of six executives and one associate, as well as the addition of a new senior associate, in response to an outlook of continued growth in top markets such as Chicago, Los Angeles, Dallas, Miami and Washington, DC.

Promotions include senior vice president Lindsey Senn to executive vice president, responsible for the firm’s finance and development team. At Fifield, Senn, who studied real estate and urban land economics at the Wisconsin School of Business, has played a key role in evaluating investment opportunities and overseeing $600 million of multifamily development in the Chicago market. Senn’s recent successes include financing and securing Target as the anchor retail tenant for Logan, a transit-oriented mixed-use development currently under construction in Logan Square, as well as leading the redesign of the recently topped-off 740 North Aberdeen in West Town, transforming plans inherited from the seller into a financially feasible,188-unit multifamily mid-rise.

“As one of our most innovative team members, Lindsey has excelled in data-oriented design, complex construction financing, and asset management, where she often exceeds projections,” said Steve Fifield, chairman of Fifield Cos. “Since joining Fifield six years ago, she rose to become the youngest vice president in our company’s history and continues to bring her collaborative, visionary approach to problem solving to our workplace every day.”

Other promotions at the firm include:

  • Jon Schneider, from vice president to senior vice president on the asset management team, driving the creation and implementation of asset-specific business plan strategies, and the financial performance of Fifield’s multifamily assets. Schneider, whose background is in accounting and finance, spent a decade with GEM Realty Capital, where he oversaw a national portfolio of multifamily assets.
  • Givi Peradze, from vice president to senior vice president, leading the overall construction management, supervision and coordination of large-scale projects in Chicago. Peradze, who has a background in civil and structural engineering, spent a decade working as a senior project manager for Lendlease and applies more than 20 years of construction experience to his role.
  • Greg Vance, from vice president to senior vice president, managing the construction, architecture and design of Fifield developments in metro Los Angeles. Vance, who holds a degree in architecture, worked for several top 25 general contractors throughout the country prior to joining Fifield, and is involved in all facets of development, from schematic design through project completion.
  • Navi Sandhu, from assistant vice president to vice president, responsible for underwriting multifamily development projects and handling debt and equity financing. Prior to joining Fifield, Sandhu worked as an analyst on development platforms structured to provide growth capital and on an office investment sales team. She holds an MBA from Northwestern University’s Kellogg School of Management.
  • Joe Pitsor, from senior associate to assistant vice president of finance and development, handling underwriting for multifamily developments and acquisition. Pitsor has been involved in the financing of over $150 million of multifamily investments and oversees the company’s RandyCo division, a Chicago-based neighborhood property rehabilitation program. A licensed CPA, he worked in the real estate advisory practice of PricewaterhouseCoopers prior to joining Fifield.
  • Margaret Hinz, from senior escrow officer to assistant vice president, responsible for the execution of pre-development and construction cash management, as well as building and maintaining relationships with lenders, inspectors, vendors and title companies. Prior to joining Fifield, Hinz was an escrow officer at the Illinois Real Estate Title Center, overseeing construction escrow for the firm.

“Fifield has always been structured in a way to recruit top talent and give them the discretion to grow and succeed,” said Kevin Farrell, president of Fifield Cos. “The promotion of these seven individuals is a reflection of how instrumental they have been in the exceptional developments we’ve recently completed and that are underway in Chicago and Los Angeles, as well as other markets across the country where we are active. In adding to our team, we anticipate continuing this trajectory, especially as we explore multifamily opportunities in new markets and consider additional asset classes.”

New to Fifield is Justin Westfall, who joins as a senior associate in the finance and development group. Westfall was previously a vice president in the valuation and advisory services group at Jones Lang LaSalle, and began his real estate career at Cushman & Wakefield as a transaction advisor. He has an MBA in finance and real estate from Northwestern University’s Kellogg School of Management and a bachelor’s degree in finance from Indiana University.