Illinois

Fiat Chrysler Signs 25,523 SF Industrial Lease in Bolingbrook, Illinois

by Kristin Harlow September 18, 2019

BOLINGBROOK, ILL. — Fiat Chrysler Automobiles (FCA) has signed a 25,523-square-foot industrial lease in Bolingbrook. The car manufacturer will use the space as a training facility for its employees. The 112,049-square-foot building is located at 1325 Remington within Carlow Corporate Center. The property features a clear height of 28 feet, 242 car parking spaces, three drive-in doors and 11 loading docks. FCA will begin occupying the space in January. Jordan Decker and Chris Cobb of Cushman & Wakefield represented FCA in the lease transaction. Dominic DeRose, Vern Schultz and Charles Canale of Colliers International represented the owner and developer, Opus Group.

September 18, 2019

Development Illinois Midwest Office

Amazon to Expand Chicago Loop Office by 70,000 SF, Add 400 Jobs

by Kristin Harlow September 17, 2019

CHICAGO — Amazon has unveiled plans to expand its Chicago tech hub and create an additional 400 jobs in fields including cloud computing, advertising and business development. To accommodate the job creation, Amazon will expand its office in downtown Chicago by more than 70,000 square feet. This will double the company’s tech workforce within the city. Amazon’s Chicago tech hub is one of the company’s 18 North American tech hubs. Amazon employees in Chicago currently build and support products and services for Amazon Web Services, Amazon Advertising and the company’s transportation and operations units. Together with its customer fulfillment and retail facilities, Amazon has created more than 11,000 full-time jobs in Illinois and invested over $4.4 billion in the state since 2010.

September 17, 2019

Development Illinois Industrial Midwest

Krusinski Breaks Ground on 138,000 SF Headquarters for Yamazen in Elk Grove Village, Illinois

by Kristin Harlow September 17, 2019

ELK GROVE VILLAGE, ILL. — Krusinski Construction Co. has broken ground on the new headquarters for Yamazen Inc. in Elk Grove Village. The 138,000-square-foot, two-story building will be located at 111 NW Point Blvd. Yamazen, which sells and distributes machine tool equipment and is a subsidiary of Japan-based Yamazen Corp., will relocate its current operations and staff from Schaumburg. Completion is slated for summer 2020. The facility will feature 50,000 square feet of offices, conference rooms and product demonstration areas. The distribution space will include two loading docks, two drive-in doors and 137 car parking spaces. The project team includes Cornerstone Architects Ltd., civil engineer V3 Companies Ltd. and owner representative Ketone Partners.

September 17, 2019

Development Illinois Midwest Multifamily

Opus Completes Construction of 113-Unit Apartment Complex in Des Plaines, Illinois

by Kristin Harlow September 16, 2019

DES PLAINES, ILL. — The Opus Group has completed construction of Ellison Apartments, a 113-unit apartment complex in Des Plaines. The project, which includes 1,349 square feet of street-level retail space, was a joint venture with Berkshire Residential Investments. Amenities include a fitness center, clubroom, pet spa, game lounge and outdoor amenity deck. A grand opening event is scheduled for Thursday, Sept. 26. Opus served as developer, design-builder and structural engineer. ESG Architects designed the property.

September 16, 2019

Development Illinois Industrial Midwest

Premier Delivers 407,338 SF Build-to-Suit Warehouse in Elwood, Illinois

by Kristin Harlow September 16, 2019

ELWOOD, ILL. — Premier Design + Build Group has delivered a new warehouse for Midwest Warehouse & Distribution System in Will County’s Elwood. This is the second project Premier has completed for Midwest Warehouse, a full-service logistics company based in Woodridge. Built on a 24-acre site, the new 407,338-square-foot warehouse features a clear height of 36 feet, 70 exterior truck docks, three drive-in doors, 104 trailer parking stalls and 95 car parking stalls. It also includes offices, a conference room, training room and lounge. The build-to-suit project is located at 21157 Walter Strawn Drive, south of Joliet. The project team included Cornerstone Architects Ltd., Manhard Consulting Ltd. and Structures Unlimited.

September 16, 2019

Development Illinois Midwest Multifamily

111-Unit Mixed-Income Development Opens in Chicago

by Kristin Harlow September 13, 2019

CHICAGO — The Concord at Sheridan, a 111-unit mixed-income development, has opened in Chicago’s Rogers Park community. Located at 6438 N. Sheridan Road, the site was formerly a surface parking lot. Of the 111 apartments, 65 are designated as affordable for low-income residents and will be leased to renters from the Chicago Housing Authority (CHA) wait list. The other 46 units will be leased as market rate. The project includes 29,400 square feet of retail space, including a 23,200-square-foot Target. Common area amenities include a lounge, game area, fitness center, conference room, amenity terrace and coworking space. The development has a walk score of 92. The seven-story project is the result of a public-private partnership including the CHA and co-developers Three Corners Development, Iceberg Development, Lightengale Group and Cubit Development Group. Market-rate rents begin at $1,041 while the affordable rents are based on a resident’s income. Renters must earn up to 60 percent of the area median income to qualify. Architecture firm GREC designed the project, while Riteway Madison LLC served as the general contractor.

September 13, 2019

Hospitality Illinois Loans Midwest

JLL Arranges $61M Refinancing for New Hotel in Chicago’s Fulton Market

by Kristin Harlow September 13, 2019

CHICAGO — JLL has arranged a $61 million loan for the refinancing of Hyatt House Fulton Market, a new 200-room hotel in Chicago’s Fulton Market District. Timothy Joyce, Steven Klein and Nicole Aguiar of JLL arranged the five-year, floating-rate loan on behalf of the borrower, a partnership between Sterling Bay and Wheelock Street Capital. Argentic Real Estate Investments LLC provided the loan, proceeds of which will be used to retire a construction loan. The hotel is the only extended-stay product in the market, according to JLL. The new design features an indoor rooftop pool, outdoor patio, fitness center, 1,570 square feet of meeting space, 5,100 square feet of retail space, breakfast dining area, bar and market.

September 13, 2019

Acquisitions Illinois Midwest Office

Transwestern Brokers Sale of 147,096 SF Office Building in Deerfield, Illinois

by Kristin Harlow September 13, 2019

DEERFIELD, ILL. — Transwestern Commercial Services has brokered the sale of 1717 Deerfield Road in Deerfield for an undisclosed price. The 147,096-square-foot office building rises three stories and offers 50,000-square-foot floor plates. It is currently 21.2 percent leased by accounting and consulting firm Warady & Davis LLP. Gary Nussbaum and Paige Gunn of Transwestern represented the seller, Hudson Advisors. Canada-based investment group Progressif and Schaumburg-based Helios Property Management purchased the asset.

September 13, 2019

Development Illinois Midwest Office

Skender Completes Expansion of LinkedIn’s Chicago Headquarters

by Kristin Harlow September 12, 2019

CHICAGO — Skender has completed construction of LinkedIn’s 46,000-square-foot Chicago headquarters expansion at 525 W. Monroe. A staircase now connects the existing space via two floors. The project includes large collaboration areas, open workstations, a salon, mother’s room as well as a fifth-floor amenity space with a garden lounge, game room and music room. California-based LinkedIn’s total footprint in the building is now 185,077 square feet. Skender collaborated with Gensler, ESD Global and Avison Young for the project.

September 12, 2019

Illinois Industrial Loans Midwest

Mesa West Capital Provides $32.1M Acquisition Loan for Industrial Property in Lockport, Illinois

by Kristin Harlow September 12, 2019

LOCKPORT, ILL. — Mesa West Capital has provided a $32.1 million loan for the acquisition of the I-355 Industrial Center in Lockport, 30 miles southwest of Chicago. Built in 2017, the 611,576-square-foot industrial property is situated on 33 acres and comprises two buildings. It features a clear height of 32 feet, 30 dock doors and a shared 185-foot truck court. The property is currently leased to one tenant, Berlin Packaging LLC, which occupies approximately 17 percent of the available space. Steve Roth of CBRE arranged the loan on behalf of the borrower, a joint venture between High Street Realty Co. and Angelo Gordon. A portion of the five-year, floating-rate loan will be used to pay for tenant improvements and lease-up costs.

September 12, 2019

Newer Posts

Older Posts