REBusinessOnline

Illinois

Essex Brokers $5.3M Sale of 32-Unit Apartment Community in Chicago Suburb

DOWNERS GROVE, ILL. — Essex Realty Group Inc. has brokered the sale of a 32-unit apartment property in the Chicago suburb of Downers Grove for $5.3 million. Comprised of four buildings, the complex is located at 1200-1224 71st St. All units are two-bedroom units and measure approximately 1,200 square feet. Doug Imber and Brian Kochendorfer of Essex brokered the transaction. Neither the buyer nor the seller were disclosed.

March 23, 2017

Clarius Partners to Develop 99,000 SF Industrial Building in Franklin Park, Illinois

FRANKLIN PARK, ILL. — Clarius Partners LLC has unveiled plans for a 99,000-square-foot industrial building in Franklin Park, approximately 18 miles northwest of Chicago. The 6.2-acre property is located at 9300 King Ave. A joint venture between Clarius Partners and Wanxiang America Real Estate Group LLC purchased the site earlier this month. An existing 154,800-square-foot building will be demolished in order to construct the new speculative facility, which is scheduled for completion by the..

March 23, 2017

XPO Last Mile, Vision Works Sign Industrial Leases Totaling 190,850 SF in Bolingbrook, Illinois

BOLINGBROOK, ILL. — XPO Last Mile and Vision Works have renewed and expanded their industrial leases at One Gateway Court in Bolingbrook. The space was vacated by a previous tenant, then divided and split between the two current tenants to accommodate both expansions. Keeley Construction is providing construction services for the private owner. Russell Perry Real Estate represented XPO Last Mile in the renewal and expansion of 96,350 square feet, while KW Commercial represented Vision Works..

March 23, 2017

Howard Hughes Corp. Unveils Plans for 51-Story Office Tower in Chicago

CHICAGO — The Howard Hughes Corp. has received unanimous approval from the Chicago Plan Commission for the development of 110 N. Wacker Drive, a 51-story office tower downtown. The company will again collaborate with Riverside Investment & Development, Goettsch Partners and CBRE, the team behind the recently completed 150 N. Riverside Plaza office tower. The 1.3 million-square-foot tower will be located between Wacker Drive and the Chicago River. Amenities will include retail and dining..

March 22, 2017

ASC Arranges $11.1M Acquisition Loan for Mixed-Use Property in Chicago

CHICAGO — American Street Capital (ASC) has arranged an $11.1 million loan for the acquisition of a 40-unit mixed-use property in Chicago’s North Center neighborhood. Built in 2009, the building consists of six ground-floor retail units and 34 residential units with a mix of two- and three-bedroom apartments. Additional amenities include in-unit washers and dryers, balconies, rooftop decks and indoor parking. Igor Zhizhin of ASC originated the seven-year loan, which includes a 30-year..

March 22, 2017

A&G Realty to Manage Sale of 58 MC Sports Leases in Midwest

MELVILLE, N.Y. — A&G Realty Partners will handle the sale of 58 MC Sports leases in seven states across the Midwest following the retailer’s Chapter 11 bankruptcy filing. The locations range in size from 11,000 to 46,000 square feet. The stores are located in Iowa, Illinois, Indiana, Michigan, Missouri, Ohio and Wisconsin. Bids are due no later than the close of business on Friday, April 7. MC Sports filed for Chapter 11 bankruptcy protection on Feb. 14 in the U.S. Bankruptcy Court,..

March 22, 2017

Acadia Strategic Opportunity Fund IV Acquires 272,060 SF Retail Center Near St. Louis for $35.4M

FAIRVIEW HEIGHTS, ILL. — Acadia Strategic Opportunity Fund IV has acquired Lincoln Place in Fairview Heights near St. Louis for $35.4 million. The 272,060-square-foot shopping center is located at 5905-6109 North Illinois St. Lincoln Place is nearly fully leased to a mix of national tenants, including Kohl’s, Ross, Old Navy, Marshalls, Famous Footwear, Five Below, Pier 1 Imports, Saint Louis Bread Co. and Mattress Firm, in addition to a separately owned Lowe’s, Chili’s and..

March 21, 2017

Essex Brokers $10.1M Sale of Multifamily Portfolio in Suburban Chicago

NAPERVILLE AND GENEVA, ILL. — Essex Realty Group Inc. has brokered the sale of two apartment properties in suburban Chicago for $10.1 million. The larger asset, 7-20 Simpson St., is a 56-unit apartment complex located in Geneva. The property consists of three two-story buildings. All units measure approximately 900 square feet and are two-bedroom units. The second property, 1330 E. Chicago Ave., is a 34-unit apartment building located in Naperville. The property consists of 31 one-bedroom..

March 21, 2017

Bridge to Develop 133,951 SF Build-to-Suit for Okabe in Grayslake, Illinois

GRAYSLAKE, ILL. — Bridge Development Partners LLC has unveiled plans to develop a 133,951-square-foot industrial facility for Okabe Co. in Grayslake. The metal working company will relocate its North American headquarters from Vernon Hills, Ill. The development, located at the intersection of Peterson and Midlothian roads, will feature 30-foot clear heights, 10 exterior truck docks, two drive-in doors, 4,000 amps of power and an ESFR sprinkler system. Okabe acquired the land site from the..

March 21, 2017

Avison Young Arranges Sale of 61,000 SF Industrial Building in Cary, Illinois

CARY, ILL. — Avison Young has arranged the sale of a 61,000-square-foot building in Cary, about 45 miles northwest of Chicago. The sales price was not disclosed. The property, located at 165 Chicago St., is fully leased to AMPAC, a global manufacturer of creative and flexible packaging for pharmaceuticals, health and beauty products and retailers. The building, developed in 1985, includes three exterior docks, one drive-in door and heavy power for manufacturing. Erik Foster and Mike Wilson of..

March 21, 2017