REBusinessOnline

Kimco Sells Retail Property in Oakbrook Terrace, Illinois for $21M

OAKBROOK TERRACE, ILL. — Kimco Realty Corp. has sold a 176,164-square-foot retail property in Oakbrook Terrace for $21 million. Known as 22nd Street Plaza, the shopping center is fully leased to retailers such as Home Depot, Party City and Big Lots. Restaurants Twin Peaks and Naf Naf Grill are located on the site as well. The property includes 850 parking spaces. George Good and Christian Williams of CBRE represented Kimco in the sale. A California-based private investor purchased the

RSM Expands Office Lease at Chicago’s CME Center

CHICAGO — Audit, tax and consulting firm RSM has expanded its footprint to 165,323 square feet within CME Center in Chicago. The property, located on South Wacker, is now 95 percent occupied. CME Center consists of two 40-story office towers connected by a 10-story center structure. The property totals 2.3 million square feet. Completed in phases during the 1980s, the asset was recently redeveloped with redesigned lobbies and common area enhancements. Tishman Speyer owns the property. Joe …

Avison Young Negotiates Sale of 182,298 SF Industrial Portfolio in Mount Prospect, Illinois

MOUNT PROSPECT, ILL. — Avison Young has negotiated the sale of a 182,298-square-foot industrial portfolio in Mount Prospect for an undisclosed price. The two-building portfolio was 90 percent leased at the time of sale. The properties are situated on 8.2 acres at 1900-2000 Carboy Drive. Erik Foster, Mike Wilson, Chris Lydon and Chris Tecu of Avison Young represented the owner, Brennan Investment Group. San Francisco-based Glen Una Management Co. purchased the

Skender Breaks Ground on 60-Unit Affordable Seniors Housing Community in Crystal Lake, Illinois

CRYSTAL LAKE, Ill. — Skender has broken ground on Residences of Crystal Lake, an independent living community in Crystal Lake, approximately 45 miles northwest of Chicago. Turnstone Development is leading the project. The three-story, 63,000-square-foot facility will offer 60 affordable units for seniors, and includes 5 ADA-accessible units, 12 adaptable units and two sensory units. Other project partners include design firm UrbanWorks, civil engineering firm GroundWork Ltd. and owner’s …

IPA Brokers $11M Sale of Skilled Nursing Facility in Urbana, Illinois

URBANA, ILL. — Institutional Property Advisors (IPA), a division of Marcus & Millichap, has brokered the sale of the Champaign County Nursing Home in Urbana for $11 million. The skilled nursing facility includes 243 beds. Joshua Jandris, Mark Myers and Matthew Andriano of IPA represented the seller, Champaign County. The team also procured the buyer, University Rehab Real Estate

Lynmark Group Opens 301-Unit Apartment Complex at Wheeling Town Center in Suburban Chicago

WHEELING, ILL. — The Lynmark Group has completed the ONE luxury apartments at Wheeling Town Center in suburban Chicago. A grand opening weekend event for the public will take place Friday through Sunday, May 17-19. The property offers unique floor plans with private terraces, balconies, keyless entry and in-unit washer and dryers. Amenities include Peloton bikes, dog washing stations, pool and cabana, yoga studio, clubroom, demonstration kitchen and electric vehicle car charging stations. …

Triloma Seniors Housing Acquires Two Assisted Living Communities Near St. Louis

GRANITE CITY AND GODFREY, ILL. — Triloma Seniors Housing, an affiliate of Triloma Financial Group, has acquired The Fountains at Granite City and The Fountains at Godfrey, both located in Illinois just across the Mississippi River from St. Louis. The communities offer a combined 135 assisted living units. Cedarhurst Living will take over operations. Regions Bank provided acquisition financing through its healthcare real estate group. The amount of the financing and the sales price of the …

Brown Bag Seafood Co. to Join Tenant Lineup at Willis Tower’s Catalog in Chicago

CHICAGO — Brown Bag Seafood Co. will open its newest location in Willis Tower. The fast-casual seafood concept will be located in Catalog, the 300,000-square-foot dining and retail area at the base of the office tower. Catalog is currently under construction. Willis Tower is undergoing a $500 million renovation project, the biggest transformation in the building’s 46-year history. The first phase is expected to be open to the public in late 2019. Brown Bag Seafood Co. joins Convene, …

PECO Purchases 146,591 SF Shopping Center in Naperville, Illinois

NAPERVILLE, ILL. — Phillips Edison & Co. Inc. (PECO) has purchased Naperville Crossings, a 146,591-square-foot shopping center in Naperville. The purchase price was $49.9 million, according to Crain’s Chicago Business. A newly constructed, 21,820-square-foot Aldi grocery store anchors the property. Other tenants at the retail center, which is 92 percent leased, include AT&T, Biaggi’s Ristorante Italiano, Massage Envy, Nothing Bundt Cakes, Orangetheory Fitness, Panera Bread and …

Accuride Leases 291,728 SF Industrial Building in Joliet, Illinois

JOLIET, ILL. — Accuride Corp. has fully leased a 291,728-square-foot industrial building at Rock Run Business Park in Joliet. The speculative building was completed in the fourth quarter of 2018. It features a clear height of 36 feet, 38 dock doors, 234 parking spaces and build-to-suit office options. Accuride, a manufacturer of premium automotive parts, will consolidate two of its Chicago-area facilities in Batavia and Naperville. Mike Fonda, Chris Lydon, Chris Tecu and Brian Pomorski of …

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