Focus Advances Key Projects — Strengthening Market Position in Chicago and Expanding into Florida

As a premier, Chicago-based, commercial real estate developer, Focus continues to execute across multiple high-impact developments that reflect the company’s disciplined strategy—anchored in proven Midwest markets and expanding into high-growth Sunbelt regions. Recent milestones include construction starts, zoning approvals, and project completions that highlight both execution and opportunity for Focus' investor and industry partners.

1221 W Washington — Chicago’s Fulton Market Momentum Builds

Located in Chicago’s dynamic Fulton Market, 1221 W Washington is a 19-story, 287-unit mixed-use development designed by Pappageorge Haymes. The project includes approximately 3,000 square feet of ground-floor retail and over 100 structured parking spaces. Construction financing of roughly $96 million was secured in 2024, with delivery targeted for late 2026.

Market Context 

• Fulton Market remains Chicago’s strongest performing rental submarket, driven by new corporate relocations and lifestyle amenities.
• Chicago’s multifamily vacancy rate is ~4.7%, among the lowest of major metros, while rent growth of 3.9% year-over-year indicates healthy absorption and pricing power.
• The development pipeline is shrinking — just 4,200 units projected to deliver in 2025, nearly half the prior decade average — positioning new Class A assets like 1221 W Washington for limited competition and potential rent growth.

As a multifamily real estate developer, Focus is leveraging this supply-constrained environment with a thoughtfully designed, amenity-rich project that aligns with investor appetite for urban infill product.

Creating value through thoughtful placemaking with mall redevelopment

The Hawthorn Mall Redevelopment in Vernon Hills continues its transformation from a traditional shopping center into a mixed-use destination. Following the successful first phase—The Domaine at Hawthorn Row (311 units, ~54,000 square feet retail)—the recently approved Phase II will deliver 288 apartments and 37,000 square feet of new retail.

Market Context 

• Suburban Chicago multifamily investment is accelerating: sales volume up ~65% YoY and average price per unit up ~18% as of mid-2025.
• Redevelopment of aging retail into mixed-use communities remains a core institutional strategy, diversifying lease streams while revitalizing regional centers.
• These properties benefit from strong fundamental indicators like transit access, retail adjacency, and established foot traffic, providing long-term value creation through integrated placemaking.

This project underscores Focus’ advantage as a commercial real estate developer, skilled in repositioning high-visibility assets into sustainable mixed-use destinations.

Focus also recently completed Lucca Fox Valley, a 323-unit multifamily development within the broader Fox Valley Mall redevelopment in Aurora, Illinois. The project features two residential buildings, extensive outdoor green space, and modern amenities designed for suburban renters. For investors, Lucca’s completion adds a stabilized asset to Focus' portfolio and demonstrates execution capability across complex redevelopment environments.

Additionally, Focus looks ahead to the redevelopment of Old Orchard mall on Chicago's North Shore. In partnership with Unibail-Rodamco-Westfield (URW), Focus is co-developing the Westfield Old Orchard Redevelopment in Skokie. Phase I includes approximately 400 luxury apartments, ground-floor retail, and a new public park, representing a $100 million first-phase investment. Groundbreaking is expected in 2025, with first deliveries targeted for 2027. The Old Orchard project is just the latest example of Focus’ expertise in large-scale repositioning—turning legacy retail into sustainable, multi-asset communities.

Expanding South: Pipeline Projects in Miami & St. Petersburg, FL

Focus is actively preparing to break ground on new developments in Miami and St. Petersburg, expanding its national footprint into high-growth Sunbelt markets. While details remain confidential pre-announcement, both projects will integrate Focus’s mixed-use and multifamily expertise with regional design and sustainability priorities.

Market Context

• The Miami metro leads the U.S. in multifamily construction with ~32,000 units under construction, representing nearly 24% of total inventory, yet investor demand remains robust amid strong migration and job creation.
• Multifamily transaction volume in South Florida grew ~10% YoY in Q1 2025, underscoring persistent capital inflow despite temporary rent normalization from new supply.
• St. Petersburg’s downtown revitalization and proximity to Tampa’s employment hubs make it one of Florida’s most attractive mid-sized urban cores for multifamily investment.

For Focus, Florida represents a complementary growth platform to its Chicago base—balancing stable Midwest markets with long-term Sunbelt expansion potential.

Building the Next Chapter

From Chicago’s Fulton Market to Florida’s Gulf Coast, Focus continues to demonstrate the performance and adaptability investors look for in an established commercial real estate development partner. With construction underway, zoning approvals secured, and new markets opening, Focus’s portfolio reflects disciplined growth and long-term value creation.

To learn more about our current portfolio, or to discuss a project, contact us today.