REBusinessOnline

Illinois

KeyBank Provides $21.7M Acquisition Financing for Multifamily Property in Schaumburg, Illinois

SCHAUMBURG, ILL. — KeyBank Real Estate Capital has provided a $21.7 million Freddie Mac loan for the acquisition of Legacy at Poplar Creek in Schaumburg. Built in 1986, the 196-unit multifamily property is comprised of 20 two-story buildings. Trevor Ritter of KeyBank originated the seven-year loan. The borrower was not disclosed.

January 18, 2018

Illinois Tool Works Signs 102,390 SF Industrial Lease in Lockport, Illinois

LOCKPORT, ILL. — Illinois Tool Works Inc. (ITW) has signed a 102,390-square-foot industrial lease in Lockport, 30 miles southwest of Chicago. ITW is a global manufacturer of engineered fasteners and components. The 293,872-square-foot industrial facility is located within Heritage Crossing, a 228-acre business park. H. Charles Osweiler of Nicolson Porter & List represented ITW in the lease transaction. Dan Leahy, Mark Moran and John Whitehead of NAI Hiffman represented ownership, ML..

January 18, 2018

Opus Breaks Ground on 14-Story Student Housing Property at the University of Illinois

CHAMPAIGN, ILL. — The Opus Group, in partnership with The Carlyle Group, has broken ground on a 14-story student housing property at the University of Illinois at Urbana-Champaign. The building will feature 218 units ranging from studios to four-bedroom apartments for a total of 548 beds. The building’s shared amenities will include an indoor basketball court, fitness center and spa on the second floor. Group study rooms and lounges, along with a coffee bar, will provide additional spaces..

January 17, 2018

Heartland Bank & Trust Provides $26.5M Refinancing for Industrial, Flex Portfolio in Metro Chicago

CHICAGO — Heartland Bank & Trust Co. has provided a $26.5 million refinancing of 10 industrial and flex properties across metro Chicago. The portfolio of properties comprises the majority of the remaining assets within Midwest Industrial Funds’ MIF Value Fund LP. The portfolio totals over 800,000 square feet. The properties are occupied by more than 40 tenants with an overall occupancy rate in excess of 90 percent.

January 16, 2018

Animal Supply Signs 220,000 SF Industrial Lease in Bartlett, Illinois

BARTLETT, ILL. — Animal Supply Co. has signed a 220,000-square-foot industrial lease in Bartlett, about 35 miles northwest of Chicago. The distributor of wholesale pet products will occupy the space at 1323 Brewster Creek Blvd. within the Brewster Creek Business Park. The property is a 421,401-square-foot warehouse newly constructed in the summer of 2017. The building features a clear height of 32 feet, 48 dock doors and 40 trailer spaces. Animal Supply will relocate from 6450 Muirfield Drive..

January 16, 2018

Tri-Venture Acquires 693,546 SF Office Property in Lisle, Illinois

LISLE, ILL. — A venture between GFH Financial Group BSC, Lincoln Property Co. and Crestlight Capital has acquired Central Park of Lisle I and II in Lisle. The sales price was $129 million, according to Crain’s Chicago Business. The two-building office property totals 693,546 square feet. Completed in 1991, Central Park of Lisle I is a seven-story building featuring 381,634 square feet. Central Park of Lisle II, built in 2001, features eight stories of office space totaling 311,912 square..

January 15, 2018

Crate & Barrel Inks 117,000 SF Office Lease at The Fields in Chicago

CHICAGO — Crate & Barrel has signed a 117,000-square-foot lease for office and production space at The Fields in Chicago. Crate & Barrel plans to use the space for photo and video production. The Fields is a 22-acre, 1.5 million-square-foot redevelopment of the former Marshall Field’s campus located at 4000 West Diversey St., and is part of the Logan Square neighborhood. In 1965, Marshall Field and Co. acquired the six-story loft building, which was constructed in 1928. After..

January 15, 2018

SWIDA Breaks Ground on $10.9M Affordable Seniors Housing Community in Swansea, Illinois

SWANSEA, ILL. — Southwestern Illinois Development Authority (SWIDA), in partnership with Bywater Development Group and Bi-State Development, has broken ground on Metro Landing of Swansea near St. Louis. The $10.9 million transit-oriented development will feature 62 affordable seniors housing apartment units adjacent to the Swansea MetroLink Station. St. Louis-based Altman Charter is serving as general contractor for the project, which is scheduled for completion in spring..

January 12, 2018

RDG Acquires 37,172 SF Office Building in Chicago’s West Loop

CHICAGO — RDG Funds LLC has acquired 156 N. Jefferson Street in Chicago’s West Loop for an undisclosed price. RDG plans to redevelop and restore the 37,172-square-foot historic timber and beam loft office building. Currently vacant, the property is located two blocks from the Ogilvie Transportation Center.

January 12, 2018

Kiser Group Brokers $3.6M Sale of Multifamily Property in Chicago

CHICAGO — Kiser Group has brokered the sale of a 41-unit multifamily property in Chicago’s Buena Park neighborhood for $3.6 million. The building, located at 4070 N. Kenmore Ave., was originally built as a hotel in the 1920s. All 41 units feature studio floor plans. Lee Kiser and Rick Ofman brokered the transaction. A local landlord purchased the asset from 4070 Kenmore Corp., which had owned the property for more than 30 years.

January 12, 2018