LFI 2024 Year in Review
Happy New Year! As we get back to work from the holidays and welcome in 2025, we wanted to take a look back at the year that’s passed. In a turbulent year for the markets at large, LFI is proud to have delivered exceptional results for its partners, investors, and clients. In spite of a uniquely challenging capital markets environment and a constantly changing construction environment – both in terms of materials and labor– as well as a general “wait and see” approach to 2024 by most in the development sphere, we successfully executed our business plan.
We want to express our utmost gratitude to our partners, lenders, clients, and all that have trusted us with their time and capital to perform on their behalf in the past and going forward.
Our team looks forward to continued success in 2025 and beyond.
Here is LFI’s 2024 in Review:
LFI Dispositions and Acquisitions | LFI Real Estate
In 2024 LFI sold $29,900,000 in assets and acquired 8 properties for $16,115,000, with total project costs for these being approximately $26,000,000 and we invested $13,000,000 in equity within our existing portfolio. In total, we financed via acquisition, development, or portfolio refinances $52,000,000.
(Dispositions)
In 2024, LFI sold $29,900,000 in commercial real estate assets in two transactions: the January 22nd sale of Lot 6 of the Elgin AutoMall to McGrath Nissan and the May 22nd sale of a 40,000 square foot medical office building leased to DULY Health and Care in Wheaton, IL.
(Acquisitions)
LFI proudly closes out 2024 with eight acquisitions in commercial real estate in Alabama, Illinois, Indiana, Minnesota, and North Carolina. Total investment for these acquisitions exceeds $26,000,000. LFI continues to be in growth mode. Looking forward to an even more productive and expansive 2025!
(Commercial Landlord/Tenancy) + (Tenant Build Outs)
Chicagoland suburban Cava location | LFI Real Estate
(Commercial Landlord/Tenancy) + (Tenant Build Outs)
LFI is the landlord to over 150 unique retail, medical and industrial tenants occupying 1.25 million square feet of space across 16 states. In 2024, we invested $13,000,000 within our existing portfolio in construction, renovation, redevelopment and site improvements.
LFI oversaw ground-up construction for Jimmy John’s in Romeoville that opened February 22 and site remodels for Vernon Hills’ new Wild Fork and the very first Chicagoland suburban Cava location (one of only three Cavas in the upper Midwest), which celebrated their grand openings in May and June respectively.
(Commercial Landlord/Tenancy) + (Tenant Build Outs)
Panda Express site development | LFI Real Estate
In Lockport, we completed site development for Panda Express and 3 outlots, one of which is leased to Kiddie Academy which is scheduled to open in 2025. In spite of post-Covid challenges for hotel construction work of any kind, the LFI team delivered a remodel per Marriott’s most contemporary specifications at our Townplace Suites hotel in Lombard, IL.
We installed new signalization and upgraded Route 41 at our Schererville, IN Portillo’s.
Saddlewood Shopping Center in Naperville
Saddlewood Shopping Center in Naperville | LFI Real Estate
After five years of planning, entitlement and construction LFI delivered the redevelopment of Saddlewood Shopping Center in Naperville. This now state of the art retail center is home to new Kiddie Academy and Regus HQ locations while continuing to strengthen the business environment for our existing tenants like Duly and Milestone Pediatrics.
In support of our continuing commitment to LFI’s Guidepost Montessori portfolio, we upgraded an outdoor play area at the tremendously successful Downers Grove school.
Finally, we commenced construction, redevelopment and building of four of our Regus Office Share spaces in Chicago (expansion), Buffalo Grove, and downtown Naperville in 2024.
Partners, Tenants and Associates
LFI wants to thank all of our partners, tenants and associates who helped make 2024 such a fruitful year for our organization! There are too many names to mention but some special contributors we’d like to thank include:
Tom Petermann (CAGE Civil Engineering)
Michael Wexler, Andrew Becker, and John Bassi (Canvas)
Mike Dunkle (Capstone Development)
Jon Stanley (CBRE)
Jennifer Willis (Centier Bank)
Ricky Payne and Tim Gordon (Chicago Dough Company)
Brett Zimmerman (CRB)
Chris Bobowski, Anthony Ciaravino, and Adam Johnson (Cushman & Wakefield)
Ryan Walker (ETS Environmental Associates)
Jim McGrath and Margaret Miller (Evergreen Bank Group)
Lucas Payne (Force Global Supply)
Ray Kusinski (Front Street Capital LLC)
Jackie Smith and Kristin Busch (Greater Indiana Title Company)
Brendan Watt, Sully Stadler, and Caleb Mann (GreatStreet Realty Partners)
Peter Caruso, Joaquin Manriquez, and Jose Gonzalez (JLL)
Greg Kirsch and Corey Black (Kirsch Agency)
Ryan Buchmeier, Nellie Quiles, and Orest Skrupskyj (LG Construction)
John Nuzman, Sean Sharko, Austin Weisenbeck, Nick Kanich, Mitchell Kiven, and Ben Shapiro (Marcus & Millichap)
Westin Kane, Will Franke, Kate Ruzevich, Brian Adams, and George Ghattas (Mid-America Real Estate)
Rick Leese (MMC 360)
Murray J. Lewison (Law Office of Murray J. Lewison)
Mark Schaefer (Schaefer Construction Management, Inc.)
Robert Soos, Orlando Vivacqua, and Tom Seibert (Soos Architects)
Bill Loftus, Jim Kapustiak, Brett Duffy, and Joe Antoniolli (SpaceCo Inc.)
and
Scott Fey, Lawrence Fey IV, and Kent Tedford (TPG Energy)
LFI Affiliate Companies
Chicago Dough Company | LFI Real Estate
The Chicago Dough Company continued serving up its beloved pizza out of both of its Chicagoland area locations and enjoyed another banner year of sales at its Bourbonnais location!
LFI Affiliate Companies
Force Global Supply | LFI Real Estate
Force Global Supply continued to expand operations in 2024, opening offices in Southeast Asia and welcoming onboard John Jensen as Global Supply Chain Specialist. The FGS team visited 4 Countries, over 40 factories, and attended over 30 tradeshows expanding critical logistics networks and amplifying brand visibility. Force’s completed supply projects in 2024 served customers spanning multiple states and in the following categories: Switchgear, Panels, LED Lighting, Millwork, and Flooring. FGS enters 2025 better positioned than ever before to grow its share of the building materials and supply market both domestically and internationally, and provide for the needs of larger-scale projects and clientele.
LFI Affiliate Companies
MiCamp Solutions | LFI Real Estate
MiCamp Solutions concluded the year with an impressive $75 billion processed for over 60,000 merchants across the country, marking a year of exceptional growth. This success was driven by a robust portfolio of strategic acquisitions and the transformative impact of our Full-Service Processing (FSP) program. These achievements underscore our steadfast dedication to innovation, delivering unparalleled value, and redefining excellence in payment processing for our partners and clients.
LFI Affiliate Companies
MMC 360 | LFI Real Estate
In addition to becoming an approved vendor for IWG/Regus in 2024, MMC 360 celebrated its 6th year in the facilities management business.
LFI Affiliate Companies
TPG ENERGY | LFI Real Estate
TPG ENERGY and Petram are industry leaders in both the leased and unleased mineral (oil and gas) markets with a focus in Weld County, CO. We continued generating tremendous revenue in the energy and mineral rights sector for the Rose Family offices in 2024.