REBusinessOnline

Illinois

Essex Brokers $4.5M Condo Deconversion in Chicago’s Lincoln Square

CHICAGO — Essex Realty Group has brokered the sale of the Sunnyside Lane Condominiums in Chicago’s Lincoln Square neighborhood for $4.5 million. All 18 condominium units were sold to one buyer in what is known as a condo deconversion. The property, located at 4459 N. Campbell Ave., consists of 17 two-bedroom units and one one-bedroom unit. Brian Kochendorfer & Brian Karmowski of Essex represented the condo owners, while Steve Livaditis & Joe Scheck represented the undisclosed buyer...

October 20, 2017

University of Illinois to Develop $1.2B Innovation Center in Downtown Chicago

CHICAGO — The University of Illinois has unveiled plans to develop an interdisciplinary public-private research and innovation center known as the Discovery Partners Institute (DPI) in Chicago. The $1.2 billion project will be situated at The 78, a mixed-use development by Related Midwest. DPI will be developed on a donated portion of the 62-acre site bordered by Roosevelt Road, Clark Street, 16th Street and the Chicago River. The facility is the first step in the development of the..

October 20, 2017

CenterPoint Properties Breaks Ground on 560,000 SF Logistics Center in Franklin Park, Illinois

FRANKLIN PARK, ILL. — CenterPoint Properties has broken ground on CenterPoint Logistics Center - O’Hare in Franklin Park, about 17 miles west of Chicago. The property, located on Seymour Avenue, will feature two speculative warehouses totaling 560,000 square feet. CenterPoint O’Hare 1 will consist of 225,891 square feet with 32-foot clear heights, 50 exterior docks and parking for 68 trailers. CenterPoint O’Hare 2 will total 333,696 square feet with 36-foot clear heights, 92 exterior..

October 19, 2017

Berkadia Arranges Sale of 208-Unit Apartment Property in St. Charles, Illinois

ST. CHARLES, ILL. — Berkadia has arranged the sale of Ashford at St. Charles in suburban Chicago. The sales price was not disclosed. The 208-unit apartment property is located at 1690 Covington Court. The property features one- and two-bedroom units with a newly renovated clubhouse, fitness center and pool. Approximately 40 percent of the apartment units recently received upgrades. Ralph DePasquale and Alex Blagojevich of Berkadia arranged the sale on behalf of the seller, The Radco Cos. An..

October 19, 2017

MCR Acquires 120-Room Hotel in Suburban Chicago for $12.7M

MOUNT PROSPECT, ILL. — MCR has acquired the Hampton Inn & Suites by Hilton in Mount Prospect, a northwest suburb of Chicago, for $12.7 million. The 120-room hotel is located in Randhurst Village, a 1 million-square-foot, open-air lifestyle center. Opened in 2012, the property features an indoor pool, fitness center, business center and meeting space.

October 19, 2017

LM Commercial Brokers $2.2M Sale of Industrial Property in Cicero, Illinois

CICERO, ILL. — LM Commercial Real Estate has brokered the sale of an 86,670-square-foot industrial property in Cicero for $2.2 million. The property, which sits on 5.5 acres at 1410 S. 55th St., consists of two industrial buildings, six drive-in doors, three rail entry points, railcar storage capabilities and outside storage. Mike Merry and Brian Wabick of LM Commercial brokered the sale on behalf of the undisclosed seller. Peter Bourke and Vern Schultz of Colliers International represented..

October 18, 2017

CBRE Arranges Sale of 44,000 SF Medical Office Property in Schaumburg, Illinois

SCHAUMBURG, ILL. — CBRE has arranged the sale of the American Academy of Dermatology (AAD) headquarters in Schaumburg for an undisclosed price. The 44,000-square-foot medical office property is located at 930 E. Woodfield Road. The association will remain in the property through a short-term leaseback, then relocate to a new 41,459-square-foot office at O’Hare Gateway Center in Rosemont next spring. The association has a membership base of 19,000 physicians worldwide. Peggy McTigue and..

October 18, 2017

PREMIER Breaks Ground on 323,343 SF Distribution Warehouse in Cicero, Illinois

CICERO, ILL. — PREMIER Design + Build Group LLC has broken ground on a 323,343-square-foot distribution warehouse in Cicero, about eight miles southwest of downtown Chicago. Bridge Point 290 will feature 50 exterior truck dock positions, 36-foot clear heights, 273 vehicle parking spots and 77 trailer stalls. Bridge Development Partners LLC is the project developer. The project team also includes architect Cornerstone Architects Ltd., civil engineer SPACECO Inc. and structural engineer Swift..

October 17, 2017

Avison Young Arranges Sale of 93,903 SF Medical Office Building in Lake Bluff, Illinois

LAKE BLUFF, ILL. — Avison Young has arranged the sale of the Carriage Point Medical Complex in Lake Bluff, about 35 miles north of Chicago. The sales price was not disclosed. The 93,903-square-foot medical office building is located at 101 Waukegan Ave. Anchored by Fresenius Medical Care, the property is 100 percent leased to several regional healthcare providers. Erik Foster, Mike Wilson and Tim Henry of Avison Young represented the seller, Franklin Partners. J. Emil Anderson & Sons Co.,..

October 17, 2017

Millennium Brokers $1.7M Sale of Apartment Complex in Cicero, Illinois

CICERO, ILL. — Millennium Properties R/E has brokered the sale of a 38-unit apartment complex in Cicero, a western suburb of Chicago, for $1.7 million. The property, located at 1930 S. Cicero Ave., features 32 two-bedroom units and six one-bedroom units. The building was 95 percent occupied at the time of sale. Michael Mintz of Millennium Properties was the sole broker for the transaction. Neither the buyer nor the seller was disclosed.

October 17, 2017