Topeka Real Estate Watch, Nov 12, 2026: White Lakes Land Cut to $5.91M, 19.58 Acres on Auburn Road

Here's what's new in Topeka and Shawnee County real estate this week.

White Lakes Center land gets a big price cut. The former White Lakes Mall site at 3500-3600 SW Topeka Blvd is about 17.6 acres of unplatted land zoned C4 and I1. On Nov 7 it was cut to $5,910,000 for the full package, down from $15,333,120 in the listing's price history. Pad sites run from about 0.7 to 12.6 acres at $6 to $16 per square foot. The site is in the South Topeka TIF district (each project still has to apply for TIF), and AutoZone has already bought land there for its MegaHub. Listing: https://realeascend.com/ks-real-estate/topeka/3500-3600-sw-topeka-boulevard-mls-2471990

19.58 acres on SW Auburn Road. This cleared tract in 66614 is zoned RR1 in the Auburn-Washburn district and listed at $499,900 (MLS 2629387). The listing says commercial rezoning may be possible with county approval, in a corridor that keeps growing west. Listing: https://showcase.realestatedigital.com/property-details/sw-auburn-road-topeka-ks-66614-l435189700

New sheriff sale. 2211 SW Knollwood Dr goes to sheriff sale Dec 15. Upcoming sales also include 951 SW Woodbridge Pl, 826 SW Webster Ave and 5630 SW 17th St on Nov 17. Full list: https://salesweb.civilview.com/Sales/SalesSearch?countyId=56

Chez Yasu closes. The French bistro at 2701 SW 17th St served its last meal Nov 7 after 24 years. https://www.wibw.com/2026/11/05/after-24-years-topeka-french-restaurant-closing-its-doors/

Market check. Per Redfin, Topeka's median sale price for the three months ending October was $184,871, up 2.7% from a year ago. October sales fell to 411 from 464 (down 11.5%), and the median time on market rose to 15 days from 12. https://www.redfin.com/city/18143/KS/Topeka/housing-market

Coming up. The Topeka Planning Commission meets Monday, Nov 16 at 6pm. It will take action on CPA26/02 and discuss parking code changes (ACZR26/03) and CPA26/03. https://topekaspeaks.org/items/1114

If you're looking to buy, sell or develop in Topeka, call me.

Henry McClure
(762) 291-2765

Henry McClure 

Time kills deals

785-383-9994

www.henrymcclure.live

Topeka Real Estate Watch, Nov 11, 2026: Council Backs Luxury RHID, Shelves Missing-Middle Housing

Topeka's governing body made two housing calls on Nov. 10 that every developer and investor in town should know about.

Ardmore Walk gets its RHID started. The council voted to send a Reinvestment Housing Incentive District application for Ardmore Walk Addition No. 1 to the Kansas Secretary of Commerce. The project is 42 luxury homes near SW Lakeside Drive and 45th Street. The city is clearly willing to use incentives for new homes in southwest Topeka. The question is whether every applicant gets the same treatment. Source: Topeka Capital-Journal, https://www.cjonline.com/story/news/local/2026/11/11/southwest-topeka-luxury-home-development-could-get-tax-benefits/92716066007/

Missing-middle housing goes on the shelf. A proposed ordinance would have let owners in single-family neighborhoods apply for a conditional use permit to build duplexes, triplexes and quadplexes without rezoning. The council shelved it for more research, and city officials say action likely won't come until next year. Topeka is short thousands of homes, and this was one of the cheapest ways to add some. Source: WIBW, https://www.wibw.com/2026/11/11/topeka-council-shelves-proposal-allowing-multi-unit-homes-single-family-neighborhoods/

Income property worth a look. 1029 SW Western Ave, a fully leased 6-unit property (a triplex plus three cottages, zoned M-4), is now listed at $394,000, down from $399,000. The listing says it brings in over $3,875 a month. https://jimcooper.remax-midstates.com/realestate/details/21500646/1029-sw-western-avenue-topeka-ks-66604

Dates to watch. Sealed bids on Heartland Motorsports Park, 7530 SW Topeka Blvd (622.96 acres), are due Nov. 17. Shawnee County sheriff sales also run Nov. 17 at 10 a.m. in the courthouse sub-basement, 200 SE 7th St., and include 951 SW Woodbridge Pl., 826 SW Webster Ave. and 5630 SW 17th St. https://www.snco.gov/sh/property_sales.php

If you're buying, selling or building in Topeka and Shawnee County, call me at (762) 291-2765.

Henry McClure 

Time kills deals

785-383-9994

www.henrymcclure.live

Topeka Real Estate Watch, Nov 10, 2026: Cheap Land, a Fresh Land Comp, and Sellers Paying to Close

Here's what's new in Topeka and Shawnee County real estate this week, and where I see a deal.

Cheap residential ground on SE Adams. 29.5 acres zoned R-1 in the Shawnee Heights school district is listed at $125,000, about $4,240 an acre. It isn't subdivided, so it could become a single build site, several homesites, or a future subdivision. Listing: https://global.bhhs.com/landlots-for-sale/SE-Adams-St-Topeka-KS-66609-437663127

A new land comp in south Topeka. At the Oct 6 Southwest Topeka land auction, the roughly 170-acre I-1 tract near US-75 and SW 57th Street sold for $4,450 an acre, about $756,500. That's a real per-acre number to price land against in that corridor. Results: https://kansas-s.hibid.com/catalog/771419/southwest-topeka-land-auction---4-tracts

A flexible corner on South Topeka Boulevard. 3605 SW Topeka Blvd offers 2.1 acres zoned C-4 plus PUD across from the old White Lakes Mall area, near I-470, for $249,900. Listing: https://www.remax-midstates.com/realestate/details/86334625/3605-sw-topeka-boulevard-topeka-ks-66611

The Land Bank keeps assembling. On Nov 4 the city's Policy and Finance Committee voted 3-0 to send 1037 NW Jackson to the Topeka Land Bank to build a larger development lot, possibly for affordable housing. https://citizenportal.ai/articles/11875398/kansas/shawnee-county/topeka-city/committee-oks-forwarding-resolution-to-convey-1037-nw-jackson-to-topeka-land-bank

The market by the numbers. Over the last 12 months, the average Topeka and Shawnee County sale price was $246,658 (up 6.2%) and the median was $225,000 (up 7.1%), but closings fell 5.7% to 1,975, and 34.7% of sales came with seller concessions (https://searchtopekahomes.com/blog/market-stats/topeka-shawnee-county-real-estate-market-report-current-trends-year-over-year-growth). Pecan Street reports that 44% of active listings carry a price cut, and only 29 new housing units were permitted in September (https://pecanstreet.com/markets/ks/topeka). Prices are holding, sellers are negotiating, and new supply is thin. That's when a buyer with a plan wins.

If you've got land, a building, or a deal in Topeka you want to talk through, call me.

Henry McClure
(762) 291-2765

Henry McClure 

Time kills deals

785-383-9994

www.henrymcclure.live

Topeka Deal Watch, November 9, 2026: Two Commercial Buys Under $400K and a Week of Foreclosures

Here's what's new in the Topeka and Shawnee County market this week.

2614 SW 17th St, $375,000. This is a 3,600 sf former Fuzzy's Taco Shop on 0.22 acres zoned C-2, two blocks from Washburn University. The hood, Ansul fire suppression and two walk-in coolers are still there, and it has a newer roof and a resurfaced lot. https://realeascend.com/ks-real-estate/topeka/2614-sw-17th-street-mls-2648203

1834 NW Topeka Blvd, $275,000. This 6,764 sf C4 building on 0.43 acres in North Topeka has retail space, a garage, a tavern that has been closed for years, and two apartments upstairs. KDOT counts 18,865 cars a day going past. https://showcase.realestatedigital.com/property-details/1834-nw-topeka-blvd-topeka-ks-66608-200000084767?l=427614917

Sheriff sales. Nov 10: 5840 SW Fairlawn Rd and 2522 SE Illinois Ave. Nov 17: 951 SW Woodbridge Pl, 826 SW Webster Ave and 5630 SW 17th St. Sales start at 10am sharp in the Shawnee County Courthouse sub-basement, 200 SE 7th St, and bidders need a certified check. https://salesweb.civilview.com/Sales/SalesSearch?countyId=56

611 SW Fillmore St triplex, $169,900. It's under contract but taking backups after six price cuts from $199,900. https://jeffreykrantz.remax-midstates.com/realestate/details/21547653/611-sw-fillmore-street-topeka-ks-66606

Policy watch. Mayor Spencer Duncan wants the city to lobby the Statehouse to change how affordable housing tax credits (LIHTC) are handled. The city is also looking for a new city manager after Robert Perez left. Voters decide on March 2, 2027 whether to add a 0.1% sales tax for housing and homelessness.

If you want to talk through any of these, call me.

Henry McClure
(762) 291-2765

Henry McClure 

Time kills deals

785-383-9994

www.henrymcclure.live

Look

Blackstone Inc.’s marquee real estate unit is facing a significant leadership overhaul following a mini-exodus of senior talent, capped by the shock departure of global real estate head Nadeem Meghji (https://www.google.com/search?kgmid=%2Fg%2F11kxksvgxd&q=Nadeem+Meghji). Meghji (https://www.google.com/search?kgmid=%2Fg%2F11kxksvgxd&q=Meghji) announced his exit in September 2026 after less than ten months as sole leader of the division. He follows a trail of roughly a dozen senior managing directors—nearly a third of the unit's senior leadership—who have left the firm over the past three years. Longtime veterans David Levine and Giovanni Cutaia (https://www.google.com/search?kgmid=%2Fg%2F11g9nblmgj&q=Giovanni+Cutaia) have stepped in as co-heads to steer the division through its most turbulent period since the financial crisis. [1] (https://www.wsj.com/real-estate/commercial/dwindling-pay-fuels-high-profile-exits-from-blackstones-marquee-real-estate-team-317f2676), [2] (https://www.bloomberg.com/news/features/2026-11-08/blackstone-real-estate-seeks-rebound-from-shock-exits-and-losses), [3] (https://propmodo.com/leadership-turnover-tests-blackstones-real-estate-division-after-years-of-decline/)

Root Causes of the Exodus

• Dwindling Compensation: Senior dealmakers rely heavily on multimillion-dollar carried-interest payouts generated when real estate funds thrive. With commercial real estate struggling and funds underperforming, these payouts have dried up, prompting executives to migrate to smaller firms with better upside. [1] (https://www.wsj.com/real-estate/commercial/dwindling-pay-fuels-high-profile-exits-from-blackstones-marquee-real-estate-team-317f2676)

• Performance Pressures: Blackstone’s real estate group, once the firm's primary cash cow, has been dethroned by its private equity and credit arms. Distributable earnings for the real estate unit fell 10% year-over-year in the most recent quarter, and assets under management have dropped $30 billion from their peak. [1] (https://www.businesstimes.com.sg/property/blackstone-real-estate-seeks-rebound-shock-exits-and-losses), [2] (https://www.wsj.com/real-estate/commercial/dwindling-pay-fuels-high-profile-exits-from-blackstones-marquee-real-estate-team-317f2676), [3] (https://propmodo.com/leadership-turnover-tests-blackstones-real-estate-division-after-years-of-decline/)

• Fundraising and Market Delays: High interest rates continue to freeze property transactions. The division's flagship opportunistic fund, BREP IX, has posted meager annualized net returns of just 3%, delaying a planned $30 billion flagship fundraising round. [1] (https://propmodo.com/leadership-turnover-tests-blackstones-real-estate-division-after-years-of-decline/)

• Macro and Structural Shift: Blackstone President Jon Gray has been shifting the firm toward a flatter organization built around perpetual capital. This centralization has left fewer paths for upward growth among the most senior executive tiers. [1] (https://creanalyst.substack.com/p/wtf-is-going-on-at-blackstone), [2] (https://www.wsj.com/finance/investing/blackstones-top-private-equity-executive-is-preparing-to-leave-firm-6d7057db)

The New Leadership Structure

To project stability and continuity, Blackstone has reverted to its traditional two-headed leadership model rather than hiring from the outside: [1] (https://therealdeal.com/national/2026/09/09/blackstone-real-estate-head-nadeem-meghji-exits-company/), [2] (https://www.linkedin.com/posts/credaily_blackstone-real-estate-head-meghji-to-exit-activity-7503799683052601344-XwJR)

David Levine (https://www.google.com/search?kgmid=%2Fg%2F11s_0wplyy&q=David+Levine): Previously the head of Blackstone's Americas real estate group, Levine has been elevated to co-head.

Giovanni Cutaia (https://www.google.com/search?kgmid=%2Fg%2F11g9nblmgj&q=Giovanni+Cutaia): Previously the president of the real estate business, Cutaia joins Levine to co-lead global property investments. [1] (https://finance.yahoo.com/real-estate/articles/nadeem-meghji-leaving-blackstone-real-135254888.html)

The newly appointed co-heads inherit approximately $47 billion in "dry powder" (uninvested capital). Moving forward, they plan to pivot away from struggling traditional office and apartment sectors, focusing instead on data center funding, warehouses, hotels, and grocery-anchored retail. [1] (https://propmodo.com/leadership-turnover-tests-blackstones-real-estate-division-after-years-of-decline/)

If you want to track this developing story, I can set up a task to monitor:

• Future leadership appointments or further departures within Blackstone's executive tier.

• The progress of Blackstone's delayed $30 billion fundraise.

• Updates on commercial real estate fund returns (such as BREP or BREIT).

Let me know which areas you would like to follow.

Henry McClure

785.383.9994 

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Topeka Deal Watch, Nov 6, 2026: Two New Multifamily Packages Plus Housing Tax Date

Two new Keller Williams One Legacy multifamily packages hit the Topeka market overnight, both priced right around $50,000 a door.

515 SW Buchanan St, Topeka 66606, $900,000. This is an 18-unit building with about 12,000 square feet, built in 1970, and the largest new multifamily ask this morning. Rent roll is available on request. https://www.coldwellbanker.com/ks/topeka/515-sw-buchanan-st/lid-P00800000HJzVC0Ayy8YCmRkXCUCk8PO1cILyGZg

1337 SW Clay St, Topeka 66604, $500,000. This is a 10-unit building near downtown with about 8,538 square feet, built in 1967. Shawnee County's 2026 appraised value is $398,270, so the ask sits well above county value and needs a hard look at rents and condition. https://www.coldwellbanker.com/ks/topeka/1337-sw-clay-st/lid-P00800000HJzVBrKVMjyQ5qVMOfrKDv1FMXiqyZx

The City of Topeka's Residential Development Forum runs this morning from 10:00 AM to 12:00 PM CST at the Topeka Area Building Association, 1112 SW 6th Ave, with registration required. https://events.yodel.today/topeka-ks/event/City-of-Topeka-Government/Topeka-Residential-Development-Forum/6ab6591cfb2c323992abc5d7

The Shawnee County sheriff sale list is unchanged from yesterday. Next up on Tuesday, Nov 10 at 10:00 AM CST at the courthouse are 5840 SW Fairlawn Rd and 2522 SE Illinois Ave. https://salesweb.civilview.com/Sales/SalesSearch?countyId=56

On the policy side, Mayor Duncan said the special election on a new 0.1% retailers' sales tax is set for March 2, 2027, with staff projecting about $40 million over 10 years for homeless initiatives and an affordable housing trust fund.

On the market side, Realtor.com data puts Topeka metro active listings at 517 in October 2026, up from 438 in September.

Call or text (762) 291-2765 if you want to look at any of these.

Henry McClure 

Time kills deals

785-383-9994

www.henrymcclure.live

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Henry McClure  
785.383.9994
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time kills deals