Wicker Park Connection Buildings Listed in Chicago

The latest in Chicagoland’s multifamily sales blitz is the Wicker Park Connection mixed-use building that includes a Target building.

Centrum Realty & Development’s Arthur Slaven and former Centrum executive John McLinden completed the development in 2018, and have now hired CBRE brokers John Jaeger, Justin Puppi, and Jason Zyck to take the property to market, according to CoStar.

The two-building Wicker Park Connection area at 1640 and 1664 West Division Street holds 207 apartment units and 23,855 square feet for retailers. Just over half of the retail space is held by Target. CBRE is marketing the two-building area as an opportunity for continued rent growth, according to the outlet.

The property was initially listed in 2018 after completion, but no one offered to purchase the development. The partners refinanced the plot with a 10 year loan for just under $65 million from CBRE Capital Markets in 2019.

Wicker Park Connection is hitting the market in the middle of a multifamily selling spree. Chicagoland multifamily landlords have been rushing to market in recent months as rent growth swells and new construction lags behind. Chicago property sales have swelled to 30 percent in the past year, 25 percent more than national rates, according to the outlet.

Just north of the Loop, owners of three properties hired Newmark brokers to take their buildings to market. Next and SoNo East, owned by Fifield Companies and PGIM Real Estate, respectively, would be two of the largest multifamily sales of the year for Chicago if they can find a buyer. PGIM also listed Eight Eleven in Uptown Chicago. The trio’s listings were publicized just last week.

Additionally, R.I.G. Capital purchased a multifamily property just a stone’s throw from O’Hare International Airport from Brookfield Asset Management for $167 million earlier this month. The R.I.G. purchase was the largest deal of 2026 in the area so far.

— Hunter Cooke