CHICAGO — Meeting Tomorrow, an audiovisual equipment rental company, has signed a lease for a 20,300-square-foot warehouse located at 4848 W. Lawrence Ave. in Chicago. Marc Hale and Ali Nix of DarwinPW Realty/CORFAC International represented the undisclosed landlord. Constructed in 1962, the building has been well-maintained and is furnished with racking and office furniture. It features one dock door and two drive-in doors.
WILMETTE, ILL. — SVN Chicago Commercial has brokered the sale of a 7,260-square-foot commercial building in the Chicago suburb of Wilmette for $1.5 million. The Wayfarer Foundation, a Bahai-inspired organization, purchased the facility for its future headquarters. The property is located at the corner of 4th Street and Linden Avenue in Wilmette’s Linden Square commercial district, across the street from the CTA Linden Purple Line station. Wayne Caplan of SVN Chicago Commercial represented the undisclosed seller.
NORTHFIELD, ILL. — JLL Capital Markets has arranged the $13.1 million sale of a 47,732-square-foot retail property occupied by Mariano’s in Northfield, a northern suburb of Chicago. Alex Sharrin, Michael Nieder, Mohsin Mirza, Charles Shehan and Caity Tirakian of JLL represented the seller, Stockbridge, and the buyer, Swanson Development Group. Mariano’s has operated at the property at 1822 Willow Road since 2013 with a triple-net lease with multiple renewal options. Mariano’s is a regional supermarket chain with 44 locations throughout Illinois. In 2015, Kroger acquired the chain via Mariano’s parent company Roundy’s.
CHICAGO — Sterling Bay has purchased 4510 W. Ann Lurie Place, a 7.5-acre parcel in Chicago’s Archer Heights neighborhood. The developer plans to build a 147,500-square-foot speculative industrial facility. The acquisition was made in partnership with Affinius Capital, along with a construction loan from First National Bank of Omaha. PREMIER Design + Build Group will serve as general contractor. The project will feature 10 loading bays, two drive-in doors and 101 vehicle parking spaces. There will also be electric vehicle charging stations and upgraded steel components for future solar panel integration. Construction is scheduled to begin later this year.
CHICAGO — Peak Realty Chicago has begun leasing efforts for a new 35-unit apartment building located at 2317 N. Clark St. in Chicago’s Lincoln Park neighborhood. The boutique development is located on the site of a former Walgreens. So far, 20 percent of the units have been leased in two weeks. The three-story building offers floor plans ranging from one- to three-bedroom units. Greif Properties was the developer.
SAVOY, ILL. — Evans Senior Investments (ESI) has arranged the sale of Champaign Urbana Nursing & Rehab in Savoy, located about midway between Chicago and St. Louis. A regional owner-operator sold the asset to Mozart Healthcare, which plans to install Accolade Healthcare as the operator. The sales price was undisclosed. Initially built in 1975, the facility is licensed for 213 skilled nursing beds, and at the time of marketing was 49 percent occupied. The current operator restored the occupancy rate to 67 percent by the time of closing.
COLUMBUS, OHIO — Columbus-based Woda Cooper Cos. Inc. has received Low-Income Housing Tax Credit (LIHTC) financing for the development of five new affordable housing communities in North Carolina, Michigan, Iowa, Virginia and Illinois. The North Carolina Housing Finance Agency allocated $1.2 million for Pender Crossing, a 48-unit community to be built in Wilson, N.C. Plans call for three walkup buildings with amenities such as a fitness center, computer room, playground and covered pavilion. Raleigh-based TightLines Designs is the architect. In Marquette, Mich., Woda Cooper will partner with the Keweenaw Bay Indian Community to develop Black Rock Crossing, a 50-unit general occupancy multifamily development. The Michigan State Housing Development Authority allocated $1.4 million in tax credits for the project. Grand Rapids-based PCI Design Group is the architect. Construction is expected to begin in April. The Iowa Finance Authority awarded $1.1 million in LIHTC financing for Alley Landing, a 40-unit project in Des Moines. The community will include eight Permanent Supportive Housing homes for veteran households experiencing homelessness. Hooker DeJong is the architect. Virginia Housing allocated $1.4 million in tax credits for Bains Pointe, a 50-unit development in Portsmouth, Va., named after Eliza Bains who was instrumental in helping slaves gain freedom …
CHICAGO — Sterling Bay has begun pre-leasing efforts for The Dylan, a 282-unit luxury apartment tower in Chicago’s Fulton Market. Developed in partnership with Ascentris and designed by bKL, The Dylan features a variety of floor plans ranging from 526 to 1,669 square feet. Sterling Bay Design Studio and Chicago-based firm Harken Interiors selected the in-unit finishes. Residents have access to more than 15,000 square feet of outdoor amenity space, including a rooftop pool and fifth-floor deck featuring fire pits, grill stations, outdoor fitness options and a dog play area. First move-ins are expected in October. Monthly rents start at $2,120. The Dylan also offers 28 units of income-based housing. Residents of The Dylan will also enjoy access to SBX, Sterling Bay’s proprietary tenant experience portal offering community programming. The Dylan will host private events such as local boutique pop-ups, exclusive chef tastings and arts and culture classes. Managed by Sterling Bay Property Management in partnership with JLL, The Dylan is expected to achieve an environmental certification of Two Green Globes and will follow the RESET Air Standard. Chicago-based Luxury Living is leading pre-leasing efforts.
BLOOMINGTON, ILL. — AXIS 360 Commercial Real Estate Specialists has brokered the $3.3 million sale of the former Ovation 10 Entertainment Complex in the Chicago suburb of Bloomington. Located at 415 Detroit Drive, the property originally opened as Carmike Cinemas in 1999 and was renovated in 2015 to include a full-size kitchen and bar with in-theater dining service. The Ovation Cinema Grill closed at the start of the pandemic and never reopened after parent company, New Vision Theaters, filed for bankruptcy. Michael O’Neal and Meghan O’Neal-Rogozinski of AXIS 360 represented the seller, NV Propco Acquisition. Sherye Przybyla of Berkshire Hathaway Home Services represented the buyer, FMB Holding Inc.
OTTAWA, ILL. — Goodwill Industries of Northern Illinois has purchased a 17,295-square-foot retail building located at 501 W. Stevenson Road in Ottawa. Marc Hildenbrand of Friedman Real Estate brokered the sale. The seller and sales price were not disclosed.
