Monday, June 23, 2025
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IllinoisIndustrialLeasing ActivityLee & AssociatesMidwest

Lee & Associates Negotiates Two Industrial Leases Totaling 67,244 SF in Suburban Chicago

by Kristin Harlow

ELMHURST AND ADDISON, ILL. — Lee & Associates has negotiated two industrial leases totaling 67,244 square feet in DuPage County. Woodland Group, a privately owned logistics, e-commerce and supply chain management company, signed a 38,475-square-foot lease renewal at 325 W. Lake St. in Elmhurst. Kenneth Franzese and John Cassidy of Lee & Associates of Illinois represented the tenant, while Tom Maher of Hamilton Partners represented the landlord. Bauderer Packaging signed a 28,769-square-foot lease at 775 Belden Ave. in Addison. The 200,907-square-foot property is now fully occupied. Jeff Janda and Michael Plumb of Lee & Associates of Illinois represented the landlord, Link Logistics. Rick Morris of Cresa represented the tenant.

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AcquisitionsIllinoisIndustrialMidwest

Entre Commercial Realty Brokers Sale-Leaseback of 66,786 SF Industrial Building in Morton Grove, Illinois

by Kristin Harlow

MORTON GROVE, ILL. — Entre Commercial Realty has brokered the sale-leaseback of a 66,786-square-foot industrial building in Morton Grove, a northern suburb of Chicago. Located at 5940 Oakton St., the property features four docks, four drive-in doors and a special use permit for an auto repair and body shop. Denise Chaimovitz of Entre brokered the transaction. Service King will continue leasing nearly 28,000 square feet, and the seller, Lin-Mar, will lease back roughly 39,000 square feet. Venture One Real Estate was the buyer.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Arranges $2.5M Sale of Thorntons-Occupied Property in Riverwoods, Illinois

by Kristin Harlow

RIVERWOODS, ILL. — Marcus & Millichap has arranged the $2.5 million sale of a 4,400-square-foot fuel station and convenience store occupied by Thorntons in Riverwoods, a northern suburb of Chicago. The newly constructed property is located at 1055 N. Milwaukee Ave. Thorntons recently signed a 20-year, absolute net ground lease. Nicholas Kanich of Marcus & Millichap represented the seller, a national real estate developer. The property sold to a Chicago-based private investor completing a 1031 exchange.

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AcquisitionsIllinoisMidwestMultifamily

Monarch Realty Partners Brokers Sale of 15-Unit Apartment Building in Chicago

by Kristin Harlow

CHICAGO — Monarch Realty Partners has brokered the sale of a 15-unit apartment building in Chicago’s far south Chicago Lawn neighborhood. Located at 2537 W. 63rd St., the property features two commercial spaces. Robert Berman of Monarch represented the long-term, local owner in the sale. The property sold to an out-of-state buyer for an undisclosed price.

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AcquisitionsIllinoisMidwestMultifamily

CP Capital Sells 236-Unit Apartment Complex in Des Plaines, Illinois

by Kristin Harlow

DES PLAINES, ILL. — CP Capital US has sold The Monarch, a 236-unit apartment complex in the Chicago suburb of Des Plaines. The buyer and purchase price were not disclosed. CP Capital completed The Monarch in 2020 and sold it fully leased. Amenities include a fitness center, pool, yoga studio, parking garage, game room, pet spa, dog park and clubhouse. The community is situated adjacent to Forest Preserves of Cook County, which offers numerous outdoor recreational activities and a network of hiking and biking trails.

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DevelopmentIllinoisIndustrialMidwest

Upside Foods to Build 187,000 SF Cultivated Meat Production Plant in Glenview, Illinois

by Kristin Harlow

GLENVIEW, ILL. — California-based Upside Foods, which produces lab-grown meat from animal cells, has unveiled plans to build its first commercial factory in Glenview, a northern suburb of Chicago. Called Rubicon, the facility will total 187,000 square feet. The factory will start by producing ground cultivated chicken products, with plans to expand to other species and formats in the future. Upside Foods will be the first tenant at the industrial park that is currently under construction at the site of the former Allstate corporate campus, according to Crain’s Chicago Business. Upside Foods says it is investing $140 million in the Midwest region and creating more than 75 new jobs.

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AcquisitionsIllinoisMidwestRetail

Quantum Brokers $1.9M Sale of Retail Center in Sterling, Illinois

by Kristin Harlow

STERLING, ILL. — Quantum Real Estate Advisors Inc. has brokered the $1.9 million sale of a 40,880-square-foot retail center in Sterling, a city in Northwest Illinois. Some of the tenants include Joann Fabrics, Sherwin-Williams and CosmoProf. Jason Lenhoff of Quantum represented the seller, a national private real estate investor. The buyer was a private real estate investor based in Illinois.

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AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of Mattoon Marketplace Shopping Center in Southern Illinois

by Kristin Harlow

MATTOON, ILL. — Mid-America Real Estate Corp. has brokered the sale of Mattoon Marketplace, a community shopping center located in the southern Illinois city of Mattoon. The sales price was undisclosed. The property is 98 percent leased to tenants such as PetSmart, Dollar Tree, Cato, Hibbett Sporting Goods, Aspen Dental, Buffalo Wild Wings, Verizon and Shoe Sensation. Rick Drogosz and Emily Gadomski of Mid-America represented the seller, United American Properties. Chase Properties was the buyer.

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DevelopmentIllinoisIndustrialMidwest

Principle Construction Begins Tenant Improvements for Industrial Dry-Cleaning Facility in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Principle Construction Corp. has begun tenant improvements for a 282,588-square-foot building located at 2000 Deerpath Road in Aurora. The tenant, Tailored Brands, owns brands such as Men’s Wearhouse, Jos. A. Bank and family retailer K&G Fashion Superstore. The Aurora facility will support the company’s clothing rental business, including infrastructure for dry cleaning, laundry, repair and storage of tuxedos and other formalwear. Principle will add a 13,491-square-foot boiler and dry-cleaning room with a dedicated structural pipe support mezzanine. The team is also installing 20 new 25-ton rooftop air conditioning units, 14 interlocking exhaust fans and 29 docks. Partners in Design is the project architect. Completion is slated for February 2024.

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IllinoisLeasing ActivityMidwestRetail

GoodVets to Open 2,656 SF Location at Optima Lakeview Apartments in Chicago

by Kristin Harlow

CHICAGO — GoodVets, a Chicago-based full-service veterinary care provider, has leased ground-floor retail space at Optima Lakeview, a 198-unit luxury apartment community in Chicago’s Lakeview neighborhood. The tenant is scheduled to open the 2,656-square-foot location in December. GoodVets offers a comprehensive range of veterinary services, including preventive care, surgery, dentistry and wellness programs. The Lakeview location represents the sixth Chicago-area office for GoodVets and its second within an Optima Inc. apartment building. Designed by David Hovey Sr. and completed in 2022, Optima Lakeview occupies the site of a shuttered Treasure Island Foods grocery store.

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