CHICAGO — Sancerre Hospitality has signed a 7,000-square-foot, ground-floor retail lease at 1045 On Fulton in Chicago’s Fulton Market. The space will serve as the Chicago-based restaurant group’s newest establishment in the city. Fulton Street Cos. and Intercontinental Real Estate Corp. own 1045 On Fulton, which is a 150,000-square-foot office building with 7,000 square feet of retail space. The property opened in 2021. Sancerre recently named Joe Flamm as culinary director and he will oversee culinary affairs for the new restaurant, whose concept is yet to be determined. Sancerre, which expects to open the new restaurant in early 2024, also operates Rose Mary and BLVD Steakhouse, which are located down the street from 1045 On Fulton. Cal Wessman represented ownership on an internal basis.
CHICAGO — Skender has completed an 81,000-square-foot office headquarters build-out for Avant at the Merchandise Mart in Chicago. The financial technology company’s new office features open workstations, multiple cafes and a mix of collaboration, conferencing andfocus spaces. The new workspace doubles Avant’s presence in Chicago. The firm relocated from 222 N. LaSalle St. The project team included CBRE as tenant representative, Gensler as architect and Syska Hennessy Group as engineer. Skender is currently working with Merchandise Mart owner Vornado Realty Trust on a repositioning initiative for the property.
OAK BROOK, ILL. — Krusinski Construction has completed a renovation of Comcast’s office in the Chicago suburb of Oak Brook. The renovated space features new carpeting, quartz countertops, multiple offices, conference rooms and a wellness area. The office also features technology that reduces energy consumption, such as wireless lighting controls and occupancy sensors. Krusinski also implemented new security features.
ROLLING MEADOWS, ILL. — Brennan Investment Group has acquired a 485,000-square-foot office building located at 3800 Golf Road in the Chicago suburb of Rolling Meadows. Brennan plans to demolish the building and construct a new Class A industrial park to be named Rolling Meadows Commerce Center, or RMC². The development will consist of 600,000 square feet of industrial space and landscaped grounds. Target users will include manufacturers, distributors and data centers. The project is still in the early stages with no specific construction timeline, but Brennan expects to complete the project in the next few years.
CHICAGO — Kiser Group has arranged the sale of a multifamily portfolio located in Chicago’s UIC Medical District for $15 million. The portfolio comprises 48 units, 32 of which are two-bedroom floor plans. The remainder are three-bedroom units. University Rentals UIC sold the portfolio to Bay Laurel Partners in an off-market deal. The transaction sets a new benchmark for the price per door for a value-add portfolio in the UIC Medical District, according to Will Cornish, an associate with Kiser.
SCHAUMBURG, ILL. — Steinhafels, a Milwaukee-based furniture and mattress retailer, has signed a 70,737-square-foot retail lease at 915 E. Golf Road in the Chicago suburb of Schaumburg. Steinhafels will occupy space formerly home to Bed Bath & Beyond. Joe Parrott and Sean McCourt of CBRE represented building ownership, Necessity Retail REIT. Steinhafels currently operates three stores in Chicagoland and 14 overall.
Skender Completes Build-out of Northwestern Medicine Pain and Spine Center in Bloomingdale, Illinois
BLOOMINGDALE, ILL. — Skender has completed the build-out of the Northwestern Medicine Center for Pain and Spine Health Bloomingdale. The multidisciplinary clinic at 245 Gary Ave. in suburban Chicago provides collaborative medical office space for pain medicine specialists, neurosurgeons, chiropractors, physical therapists and advanced practice nurses. The 12,000-square-foot project consisted of a comprehensive renovation of the first floor, including new imaging equipment, patient care areas and physical therapy specialty services. Along with the clinical build-out, the building underwent significant infrastructure improvements such as new electrical service and the replacement of four rooftop mechanical units.
CHICAGO — Peak Realty has begun pre-leasing efforts for Sage West Loop, a 196-unit luxury apartment building in Chicago’s West Loop. Tandem Development is the developer for the project, which is located at 1044 W. Van Buren St. Amenities include a fitness center, rooftop terrace, party room, dog run, coworking suites and onsite garage parking. The building is slated for occupancy this summer. Monthly rents start at $1,893, according to the property’s website.
WAUKEGAN, ILL. — McShane Construction Co. has completed Kirwan Apartments in the Chicago suburb of Waukegan. Over the Rainbow (OTR) was the developer. The 24-unit affordable housing development enables adults with physical disabilities to live independently. The project is named after Leo Kirwan, an OTR resident, board member and advocate for accessible housing. All units feature one bedroom and one bathroom and are barrier free. Tenants have access to a community room and laundry facilities. The three-story building is situated adjacent to OTR’s Gustafson Apartments. Weese Laungley Weese Architects provided architectural services.
CHICAGO — Walmart has announced that it will close four stores in the South and West sides of Chicago. Crain’s Chicago Business reports that the stores are located in the city’s Kenwood, Lakeview, Little Village and Chatham neighborhoods. Walmart cited a lack of profitability as the reason for the closures, reporting that the locations collectively lose tens of millions of dollars a year. The company recently invested $70 million to upgrade the stores and built two new Walmart Health facilities and a Walmart Academy training center. “It was hoped that these investments would help improve our stores’ performance,” said the company. “Unfortunately, these efforts have not materially improved the fundamental business challenges our stores are facing.”