WHEATON, ILL. — JLL Capital Markets has arranged joint venture equity and construction financing totaling $124 million for The Faywell, a 334-unit luxury apartment project in downtown Wheaton. Matthew Schoenfeldt and Mary Dooley of JLL worked on behalf of Banner Real Estate Group to identify an institutional joint venture partner and also arranged $84 million in construction financing through PNC Bank. The transit-oriented development will offer access to the Wheaton Metra station. The project site was an assemblage of 13 parcels from seven sellers. The Faywell will rise seven stories and units will average 956 square feet. There will be a mix of studios, one- and two-bedroom apartments along with direct-entry townhomes. The property will include 4,504 square feet of ground-floor retail space fully leased to Egg Harbor Café, which had an existing location on the site and signed a new long-term lease. Amenities will include three courtyards, a resort-style pool, hot tub, rooftop decks, a fitness center, coworking space and 438 parking spaces. Construction is slated for completion in the first quarter of 2027.
CHICAGO — ComPsych Corp., an organizational mental health, well-being and absence management company, has relocated its global headquarters to One Prudential Plaza at 130 E. Randolph St. in Chicago. The 50,000-square-foot office includes a media production studio, conference rooms and collaboration areas. Every workstation features adaptable, ergonomic furniture. Brian Means and Kellen Monti of JLL represented ComPsych.
DEKALB, ILL. — SVN Chicago Commercial has negotiated the $5.7 million sale of a 100-unit multifamily portfolio in DeKalb. The seven-building portfolio is located on Fotis Drive, Regent Drive, Spiros Court and Edgebrook Drive. DJ Szymanowski of SVN Chicago represented the buyer and seller. The transaction closed in less than seven weeks. The portfolio offers value-add opportunity, according to the brokerage firm.
CHICAGO HEIGHTS, ILL. — The Boulder Group has brokered the $2.7 million sale of a retail building net leased to Chipotle in Chicago Heights. The newly constructed property at 1399 W. Lincoln Highway features a drive-thru. Chipotle has a new 15-year lease with 10 percent rental escalations every five years and four five-year renewal options. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a Midwest-based commercial real estate company. The buyer was a 1031 exchange investor based in California. As of 2025, there are 3,752 Chipotle locations worldwide.
WEST DUNDEE, ILL. — swissQprint America, the U.S. arm of the Swiss digital printing technology company, has acquired a 3-acre parcel within Canterfield Corporate Campus in the northwest Chicago suburb of West Dundee. The company plans to use the land to house its new 30,000-square-foot North American headquarters, which will include modern office space, a high-tech showroom and a parts warehouse. The development marks the third building within Canterfield Corporate Campus. The remaining land is owned by HLC Partners, a West Dundee-based, family-owned business and division of Haeger Industries. NAI Hiffman is the leasing agent for the campus. Site design is led by Karl Heitman, president of Heitman Architects.
LISLE, ILL. — NAI Hiffman has negotiated three leases totaling 15,642 square feet at 2200 Cabot Drive, a renovated office building within the Corporate Lakes office park in Lisle. Agriculture company Syngenta signed a 13,381-square-foot lease at the five-story building. Prior to the pandemic, Syngenta occupied space in Downers Grove. Additionally, Bethany Christian Services inked a 1,217-square-foot lease, and Retirement Solutions leased 1,044 square feet. Patrick Kiefer of NAI Hiffman represented building owner RE Development Solutions in all three deals. The property is now 70 percent leased. RE Development Solutions acquired the building in November 2019 when it was 5 percent occupied. Ownership has completed extensive renovations, including a redesigned lobby, updated first floor and fifth-floor amenity suite, onsite deli, exterior monument signage, a conference room, updated corridors and washrooms and new mechanical systems. The building offers spec suites to meet demand from small and midsize companies seeking turnkey space.
CHICAGO — Kayne Anderson Real Estate and JDL Development have entered into an agreement to acquire a 31-acre development site at 2001 N. Southport Ave. in Chicago. The site was formerly referred to as Lincoln Yards North and is situated prominently on the Chicago River. The developers plan to reimagine and rebrand the property. The new development, which will be heavily focused on residential, will be named Foundry Park. Plans call for homes, condos and apartments as well as commercial uses. The developers plan to include affordable housing units and create a walkable neighborhood with open green space. The transaction is expected to close by the end of the third quarter.
CHICAGO — Beacon Capital Partners and Trammell Crow Co. (TCC) have completed Hyde Park Labs in Chicago. The partnership has also opened its STEM engagement center for local youth, Southside STEM Station, on the ground floor of the 300,000-square-foot development. The learning hub offers free STEM programs for students, families and educators on the city’s South Side. Located at 5207 S. Harper Ave. and rising 13 stories, Hyde Park Labs features nine full floors of Class A lab and office space, ground-level retail and four levels of parking. The developers say the project marks the South Side of Chicago’s first commercial, purpose-built advanced R&D lab building. More than 40,000 square feet of tenant amenities includes a fifth-floor terrace dubbed “The Lawn” with grills, firepits and direct access to the interior tenant lounge. The development also features private terraces on each floor, secure bike storage, an indoor bar and lounge and an executive boardroom. The University of Chicago has pre-leased approximately 55,000 square feet at Hyde Park Labs. In addition to faculty research, the university’s space includes its new UChicago Science Incubator, a partnership between the Polsky Center for Entrepreneurship and Innovation and Portal Innovations. Five UChicago-affiliated companies are among the …
CHICAGO — Interra Realty has arranged the $10.7 million sale of a 22-unit apartment building located at 811 W. Lill Ave. in Chicago’s Lincoln Park neighborhood. The vintage asset features four one-bedroom, 12 two-bedroom and six three-bedroom units. Floor plans average 1,078 square feet. Constructed in 1901, the property has been recently updated with new finishes as well as in-unit laundry and individual HVAC. Brad Feldman of Interra represented the buyer, a Chicago-based private investor. Joe Smazal of Interra represented the seller, a local private investor and developer.
OAK BROOK, ILL. — Mid-America Real Estate Corp. has brokered the sale of The Oaks of Oak Brook, a 67,146-square-foot retail center in the Chicago suburb of Oak Brook. The property was 98 percent leased at the time of sale to tenants such as Athletico, Activate Games, NxStage Kidney Care, Blackberry Market, Erik’s Bike Board & Ski and OrthoLazer. Joe Girardi and Emily Gadomski of Mid-America represented the seller, Newport Capital Partners. The asset sold to a private buyer.
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