BENSENVILLE AND WOOD DALE, ILL. — Lee & Associates has negotiated four industrial leases totaling 178,978 square feet in suburban Chicago. Chris Nelson, Jeff Janda and Michael Plumb of the brokerage represented owner Prologis on a lease of 92,000 square feet at 491 Supreme Drive in Bensenville. David Haigh of NAI Hiffman represented the tenant, Expo Lanka USA LLC. Next, Nelson and Calvin Gunn of Lee & Associates represented tenant Hoson Logistics on its lease of 47,379 square feet at 472 Thomas Drive in Bensenville. Sam Durkin of JLL represented the owner, Link Logistics Real Estate. In the third deal, American Distributors leased 30,226 square feet at 1049 Industrial Drive in Bensenville. Brad Simousek and Michael Plumb of Lee & Associates represented the undisclosed landlord. Last, Simousek represented Dental Health Products in its lease of 9,373 square feet at 1371 N. Wood Dale Road in Wood Dale. Hamilton Partners owns the building.
CHICAGO — Interra Realty has brokered the $9.5 million sale of a multifamily portfolio in Chicago’s Lincoln Square neighborhood. The portfolio includes: 4621-25 N. Lincoln Ave., a building with 25 apartment units and four ground-floor retail spaces; and 2243-51 W. Eastwood Ave., a 16-unit apartment building. The properties were originally built in the 1920s. The apartment units feature new tile flooring and cabinetry as well as stainless steel appliances. Joe Smazal of Interra represented the seller, a venture of New York-based Pioneer Acquisitions LLC. Smazal also represented the buyer, a venture led by Jeff Weinberg of Chicago-based Drexel Properties. The buyer assumed the existing CMBS financing.
COLUMBIA, ILL. — Marcus & Millichap has negotiated the $4.1 million sale of a Walgreens-occupied property in Columbia, approximately 15 miles south of St. Louis. The net-leased asset, built in 2003, is located at 100 Admiral Weinel Blvd. Walgreens has 10 years remaining on its lease term. Nicholas Kanich of Marcus & Millichap’s Chicago office represented the seller, a private investor. Benedict Gutierrez, Drew Kristol and Kirk Olson of Marcus & Millichap’s Miami office secured and represented the buyer, an individual trust.
CHICAGO — Workbox Coworking Co. has signed a 15,295-square-foot, full-floor lease at 306 West Erie in Chicago. Workbox expects to occupy its space in mid-2021. North Wells Capital and Urban Innovations recently completed the expansion and redevelopment of the office and retail property. Additionally, the developers have commenced construction on the street-level buildout for Fairgrounds Coffee & Tea, which is slated to open in mid-2021. The location will be the brand’s sixth in the Chicagoland area. The building is part of Verso, a three-building collection in Chicago’s River North. JLL is the leasing agent for 306 West Erie and the entire Verso portfolio.
CHICAGO — Evergreen Real Estate Group and Structured Development have begun development of Schiller Place Apartments on Chicago’s Near North Side. The mixed-income housing community, located on West Schiller Street, will span three buildings with 48 units. The project is being built on land formerly occupied by the Isham YMCA. Schiller Place will feature eight market-rate units. The remaining 40 units will be set aside for households earning between 30 and 60 percent of the area median income (AMI). The development team secured project-based vouchers for 24 units through the Chicago Housing Authority. Additionally, five units will be set aside for veterans and an additional five units reserved for individuals sourced through the Statewide Referral Network, which works with households earning at or below 30 percent of AMI with a head of household who has a disability or illness. Completion is slated for early 2022. GMA Construction is the general contractor and Bailey Edward is the architecture firm. Funding for the project came from the Illinois Housing Development Authority, Hudson Housing Capital, CIBC Bank, IFF and Clocktower Tax Credits. Housing and Human Development Corp. will provide onsite social services to residents.
OAKBROOK TERRACE, ILL. — J.C. Anderson has completed a 108,723-square-foot office buildout for Bosch at One Tower Lane in Oakbrook Terrace. The project scope included a 92,840-square-foot space on the top five floors of the office building as well as a 15,883-square-foot separate space known as “the annex,” which will serve as a testing and lab facility. Bosch is relocating approximately 350 employees from its Automotive Aftermarket Division at 2800 S. 25th Ave. in Broadview, Ill. The new space includes conference and training rooms, private offices and open seating areas. The top floor boasts a 360-degree view of the Chicago skyline. Whitney Architects provided architectural services and Cushman & Wakefield provided project management services. Bosch, a supplier of technology and services, operates in four different business sectors: mobility solutions; industrial technology; consumer goods; and energy and building technology.
JOLIET, ILL. — Colliers International has brokered the sale of the Laraway Distribution Center in Joliet for an undisclosed price. The 736,780-square-foot warehouse sits on over 34 acres at 1151 E. Laraway Road within the I-80 submarket. Built in 2008, the facility was fully leased to three tenants at the time of sale. Jeff Devine and Steve Disse of Colliers represented the seller, Clarion Partners LLC. Exeter Property Group purchased the asset.
EVANSTON, ILL. — Interra Realty has arranged the sale of 908 Main St. in Evanston for $5.2 million. The 27-unit multifamily building was originally constructed in 1913 and renovated in the 2000s. It features 15 one-bedroom units and 12 two-bedroom units. The building was fully occupied at the time of sale. Brad Feldman of Interra represented the seller, Robinson Rental, an Evanston-based company that has owned the property since the 1980s. Feldman also represented the international buyer.
CHICAGO — UnitedHealth Group has provided $15.4 million in construction financing for 508 Pershing at Oakwood Shores in Chicago’s Bronzeville neighborhood. Of the apartment building’s 53 units, 68 percent will be designated as affordable for households earning up to 80 percent of the area median income. The remaining 32 percent of units will be market-rate. Twenty of the units will receive public housing subsidies, enabling residents to pay income-based rent equal to 30 percent of their adjusted gross incomes. Amenities will include a resident lounge, fitness center, dog wash and bike storage. The four-story development will also include 3,500 square feet of ground-floor retail space. National Affordable Housing Trust and The Community Builders Inc. (TCB) are the developers. TCB will also provide onsite resident services, such as workforce development, youth development and health and wellness. Construction is underway with completion slated for the first quarter of 2022.
ARLINGTON HEIGHTS, ILL. — Krusinski Construction Co. (KCC) has completed the buildout of an 11,500-square-foot rehabilitation center for Shirley Ryan AbilityLab at Enterprise Office Campus in Arlington Heights. This project is the fourth Chicagoland facility that KCC has completed for Shirley Ryan AbilityLab, which was formerly known as the Rehabilitation Institute of Chicago. The Arlington Heights location features a therapeutic area, private therapy rooms, auxiliary rooms and a staff area. The project team included Cannon Design, Manhard Consulting and Ascent.