CHICAGO — Kiser Group has negotiated the $10.9 million sale of an apartment building in Chicago’s Andersonville neighborhood. Located at 1553-55 W. Hollywood Ave., the property spans a full city block and features 76 apartment units along with 22 retail spaces. Jacob Price and Katie LeGrand of Kiser brokered the transaction. Buyer and seller information was not provided. The new ownership plans to preserve the property’s vintage character while enhancing units and amenities.
OAK BROOK, ILL. — Skender has completed the transformation of the former McDonald’s corporate campus in the Chicago suburb of Oak Brook into the new headquarters for Ace Hardware. The 250,000-square-foot development is located at 2915 Jorie Blvd. Ace’s new headquarters consists of open workstations, 150 conference rooms, 12 café/pantry spaces and a variety of collaboration areas and amenities. Originally built in the 1970s and designed by Dirk Lohan, grandson of famed architect Mies van der Rohe, the former McDonald’s campus consists of three buildings across more than 80 acres. The campus has sat empty since 2019 when the fast food giant moved its headquarters to downtown Chicago. The renovation repurposed many of the main building’s original architectural elements, including a large atrium in the center. The first floor of the parking garage is now an amenity suite that includes a fitness center, conference center, multipurpose room and large cafeteria with commercial kitchen. The project team included CBRE Design Collective as architect and ESD, now named Stantec Consulting Services, as engineer.
OAKBROOK TERRACE, ILL. — JLL Capital Markets has arranged the sale of The Overlook at Oakbrook, a 54,120-square-foot retail center in the Chicago suburb of Oakbrook Terrace. Built from 2022 to 2023, the fully leased property consists of seven single-tenant and multi-tenant buildings. Some of the tenants include Guidepost, Lazy Dog, Panera and Vet Emergency Group. Alex Sharrin, Michael Nieder, John Detlaff and Noel O’Donnel of JLL represented the seller, GW Properties, and procured the buyer, MetLife Investment Management.
VERNON HILLS, ILL. — Picklemall Inc. has leased 46,000 square feet at 5555 Town Line Road in the Chicago suburb of Vernon Hills. The site will serve as a flagship location for the startup, which aims to establish 50 pickleball facilities nationwide within the next two years. Transwestern’s sports and entertainment group, led by Tim Katt and Larry Serota, is the exclusive real estate provider for Picklemall. Led by CEO West Shaw and backed by billionaire financier and Major League Pickleball founder Steve Kuhn, Picklemall is an indoor pickleball concept that capitalizes on vacant mall space. Picklemall’s Vernon Hills location takes the space formerly occupied by Toys “R” Us. The build-out of the facility is slated for completion in the first quarter of 2024.
CHICAGO — Quantum Real Estate Advisors Inc. has brokered the $3.8 million sale of an 11-unit multifamily building in Chicago’s West Town neighborhood. The property at 835 N. Wolcott Ave. was renovated in 2020. Quantum represented the out-of-state buyer, which completed a 1031 exchange. The seller was undisclosed.
BURBANK, ILL. — Time Equities Inc. (TEI) has purchased Burbank Plaza, a 28,000-square-foot retail strip center in Burbank, a southern suburb of Chicago. The purchase price was $3.1 million. Currently 91 percent leased and anchored by Family Dollar, the property is home to various tenants such as a dry cleaner, nail salon and phone store. One 2,500-square-foot space is available for lease. Ami Ziff, Jonathan Kim, Grant Scott and Eli Smith represented TEI on an internal basis. Adam Foret of CBRE represented the private seller.
ELGIN, ILL. — Principle Construction Corp. is building a 22,245-square-foot warehouse for Alvil Trucking in Elgin. The trucking company will use the building at 2450 Millennium Drive for maintenance and repairs of its fleet. The project will feature a clear height of 24 feet, 48 parking spaces, six docks and two drive-in doors. Harris Architects is the project architect, and Jacob & Hefner is the civil engineer. The project marks the second building that Principle has constructed for Alvil.
GENEVA, ILL. — Bullfrog International, a designer and manufacturer of a high-end line of hot tubs, has signed a 10,200-square-foot lease at Randall Square shopping center in Geneva. The lease marks the third location for Bullfrog in the Chicago market in the last few months. Rick Scardino, Michael Petrik and Sean Bishop of Lee & Associates represented the tenant. Branden Reedy and Jimmy Danaher of CBRE represented the landlord, an entity doing business as In Retail Fund Randall Square LLC. The shopping center totals 250,000 square feet and is located near Randall Road and Fabyan Parkway.
ARLINGTON HEIGHTS, ILL. — The development arm of Bradford Allen has submitted plans for a 300-unit apartment development in the Chicago suburb of Arlington Heights. The eight-story project will feature 25,000 square feet of ground-floor retail space. Approximately 30 of the units will be designated as affordable housing. Bradford Allen submitted plans to village officials in a joint venture with Moceri+Roszak, which is also the architect. Plans call for 17,500 square feet of indoor and outdoor amenity spaces, including an outdoor pool, sun deck, fitness area, media rooms, business center, library, work-from-home conference rooms, golf simulator, dog walk and pickleball court. There will also be indoor parking for 484 vehicles and 86 outdoor parking spaces for the retail component. The proposed project is adjacent to the former Daily Herald building, which Bradford Allen is converting into a 150,000-square-foot medical office complex known as ArlingtonMed. Together, the buildings are part of a potential 16-acre, master-planned community that includes additional apartment buildings and retail space.
NAPERVILLE, ILL. — The Picklr, a Utah-based company that intends to open roughly 500 pickleball venues across the country within the next several years, has selected Fox River Commons in Naperville as the site of its first location in the greater Chicago area. The Picklr signed a lease with owner Continental Realty Corp. (CRC) for 27,333 square feet within the 241,000-square-foot shopping center. The Picklr plans to open at Fox River Commons in 2024. Cherene Keenan represented the landlord on an internal basis, while Carter Randall of PPC Commercial represented the tenant. Located at 808 S. Route 59, Fox River Commons is home to International Fresh Market, Amish Furniture Gallery, Ball Factory, Entourage, Galleria Lighting and VAI’s Italian Inspired Kitchen + Bar.
