Wednesday, August 27, 2025
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IllinoisLeasing ActivityMidwestOffice

Strive Logistics Signs 20,033 SF Headquarters Lease in Chicago’s Lincoln Park

by Kristin Harlow

CHICAGO — Strive Logistics has signed a 20,033-square-foot office lease for its headquarters at 1457 N. Halsted St. in Chicago. The third-party logistics provider will move into its space in the NEWCITY development in November. The company will relocate from 3008 N. Lincoln Ave. Kevin McLennan and David Saad of CBRE represented Strive in the lease transaction. Jake Ehrenberg and Scott Brandwein of CBRE represented the landlord, Bucksbaum Retail Management. NEWCITY is a mixed-use development located at the intersection of Halsted Street and Clybourn Avenue in the Lincoln Park neighborhood.

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DevelopmentIllinoisMidwestOffice

Morgan/Harbour Completes 19,640 SF Office Renovation for Riddell in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — Morgan/Harbour Construction has completed an office and lab space renovation for Riddell Sports in Des Plaines, a suburb of Chicago. Riddell is a manufacturer of football helmets, pads and other football-related equipment. The scope of the project included a 19,640-square-foot interior office build-out on the fifth floor, including 3,325 square feet of testing laboratory space. New partitions, doors and ceilings as well as upgraded finishes and new furnishings were part of the renovation. Partners by Design provided architectural services. CBRE is the property manager. Riddell moved its corporate headquarters from Rosemont to 1700 Higgins Centre in Des Plaines.

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DevelopmentIllinoisMidwestRestaurantRetail

Craft Brewery to Anchor New Mixed-Use Development in Chicago

by Kristin Harlow

CHICAGO — Craft brewery 5 Rabbit Cerveceria has signed a 12,000-square-foot lease to be the first retail tenant at Mural Park in Chicago’s Pilsen neighborhood. The Latin American-inspired brewery will anchor the property and occupy 5,000 square feet on the ground floor and 7,000 square feet in the basement for its brewing operation. The brewery is slated to open in early 2019. Jose Gonzalez and Joaquin Manriquez of JLL represented the landlord, Condor Partners, in the lease transaction. Mural Park is an office and retail redevelopment of two 100,000-square-foot loft buildings. The development is the starting point for El Paseo, a four-mile trails project that will connect Pilsen, Little Village and University Village.

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IllinoisIndustrialLoansMidwest

Associated Bank Provides $13M Construction Loan for Speculative Industrial Building in Winfield, Illinois

by Kristin Harlow

WINFIELD, ILL. — Associated Bank has provided a $13 million loan for the construction of a 265,550-square-foot speculative industrial building in Winfield, about 35 miles west of Chicago. The property, named North Avenue Commerce Center, is located along St. Charles Road. Construction is slated for completion by the end of this year. Conor Commercial Real Estate, the real estate development and investment arm of The McShane Companies, was the borrower.

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DevelopmentIllinoisMidwestMultifamily

CRG Nears Completion of 132-Unit Apartment Building in Chicago

by Kristin Harlow

CHICAGO — CRG, Clayco’s private real estate development firm, is nearing completion of A.M. 1980, a 132-unit apartment building in Chicago’s Bucktown neighborhood. Located at 1980 N. Milwaukee Ave., the project spans 110,000 square feet. A.M. 1980, which is named for its address at the intersection of Armitage and Milwaukee avenues, features studio, one- and two-bedroom units. Amenities include a fitness center, coffee bar, package storage, dog run, rooftop deck and 6,000 square feet of retail space. Monthly rents start at $1,500 for studios. Construction began in the summer of 2017. Clayco is the design-builder and its subsidiary, BatesForum, is the architect. Residents are expected to begin moving in later this summer.

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AcquisitionsIllinoisIndustrialMidwest

Colliers Arranges Sale of 221,522 SF Industrial Building in Chicago

by Kristin Harlow

CHICAGO — Colliers International has arranged the sale of a 221,522-square-foot industrial building in Chicago for an undisclosed price. The property sits on 7.3 acres at 3355 W. 31st St. The building features a clear height of 32 feet and 14 crane bays. Steve Kohn and Mike Senner of Colliers represented the seller, Crown Steel Sales. Ed Wabick of Paine Wetzel represented the buyer, Cinespace Chicago Film Studios. Cinespace specializes in the development, management and operation of studio facilities.

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DevelopmentIllinoisMidwestMixed-Use

Fifield, Terraco Begin Development of Logan’s Crossing Mixed-Use Project in Chicago

by Kristin Harlow

CHICAGO — Fifield Realty Corp. and Terraco Real Estate have begun development of Logan’s Crossing, a mixed-use project in Chicago’s Logan Square neighborhood. Located at 2500 N. Milwaukee Ave., the development will include 220 apartment units and 62,000 square feet of retail space, including a 27,000-square-foot Target store. The property will span two buildings connected by a sky bridge. Amenities for apartment residents will include a sun terrace, pool, dog run, bocce ball court, fitness center, coffee bar and conference center. The project is being constructed on the site of the former Mega Mall indoor flea market, which was demolished in January 2017. Move-ins are slated for November 2019, with Target’s opening expected in summer 2020. Antunovich Associates is the project architect and Focus Construction is the general contractor.

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IllinoisLoansMidwestMultifamily

Pembrook Provides $20.3M Bridge Loan for Multifamily Portfolio in Chicago

by Kristin Harlow

CHICAGO — Pembrook Capital Management LLC has provided a $20.3 million bridge loan for the acquisition and renovation of a 325-unit multifamily portfolio in southwest Chicago. Icarus Investment Group was the borrower. The portfolio, formerly owned by Cano Properties, consists of 23 Naturally Occurring Affordable Rental Housing (NOAH) properties. NOAH properties are generally considered to be affordable to families earning less than 80 percent of the area median income. HUD deems rents to be affordable if they are at or below 30 percent of a household’s median income. Icarus intends to complete improvements at the buildings and has agreed to continue to operate the properties as NOAH throughout the term of Pembrook’s loan. The properties feature ground-floor retail spaces. Currently the residential portion is 94.2 percent occupied.

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AcquisitionsIllinoisMidwestMixed-Use

Interra Arranges $16.5M Sale of Adjacent Mixed-Use Buildings in Chicago

by Kristin Harlow

CHICAGO — Interra Realty has arranged the sale of two adjacent mixed-use buildings in Chicago’s Edgewater neighborhood for $16.5 million. Located on North Broadway Avenue, a 95,000-square-foot building is comprised of 42 apartment units and two street-level retail spaces, one of which is leased to a daycare center. The asset sold for $15.8 million. An adjacent mixed-use building includes two apartment units and 1,800 square feet of ground-floor retail space. The asset sold for $745,000. A private buyer purchased both of the properties. The seller was not disclosed. Craig Martin and Brian DiBasilio of Interra represented both parties in the sale.

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AcquisitionsIllinoisIndustrialMidwest

Colliers Brokers Sale of 486,062 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow

CHICAGO — Colliers International has brokered the sale of a three-building, 486,062-square-foot industrial portfolio in metro Chicago for an undisclosed price. Built between 1972 and 1984, the properties have been updated with truck docking, trailer parking and new lighting. The facilities include a 212,728-square-foot warehouse in Batavia, a 204,586-square-foot warehouse in Alsip, and a 68,728-square-foot property in St. Charles. The buildings are fully leased to four tenants. Jeff Devine and Steve Disse of Colliers represented the seller, DCT Industrial Trust (NYSE: DCT). Cabot Properties was the buyer.

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