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Illinois

IllinoisIndustrialLeasing ActivityMidwestNAI

NAI Hiffman Negotiates 330,694 SF Industrial Lease for NORKOL in Montgomery, Illinois

by Kristin Harlow

MONTGOMERY, ILL. — NAI Hiffman has negotiated a 330,694-square-foot industrial lease on behalf of NORKOL Converting Corp. at CenterPoint 88 Industrial Center in Montgomery, a western suburb of Chicago. NORKOL, a family-owned paper and packaging provider, signed a long-term lease agreement and will relocate from its Northlake headquarters this spring. Originally built in 1960 and renovated in 2000, the property is served by the BNSF Railway and is located less than five miles from I-88. NORKOL plans to make significant upgrades to the facility, including improvements to the truck courts, sprinkler system, power capacity and lighting. Dan Leahy of NAI Hiffman represented the tenant and provided site selection services. Rick Daly and George Cibula of DarwinPW Realty/CORFAC International represented the landlord, CenterPoint Properties.

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AcquisitionsIllinoisIndustrialMidwest

Cresa, Glenwood Arrange Sale of 163,309 SF Kuriyama of America Headquarters Building in Suburban Chicago

by Kristin Harlow

SCHAUMBURG, ILL. — Cresa has arranged the sale of a 163,309-square-foot industrial building in Schaumburg that serves as the headquarters of Kuriyama of America Inc., a manufacturer of thermoplastic hose and accessories. The sales price was undisclosed. The property sits on 11.5 acres at 360 E. State Parkway. The building features a clear height of 34 feet, 15 exterior docks, parking for 134 cars and 32,000 square feet of office space. Ed Lowenbaum of Cresa and Jason Talanian of Glenwood Real Estate represented Kuriyama in the sale. Tom Gath and Kevin Murphy of Newmark represented the buyer, DN Solutions, a machine tool company that will use the facility for its corporate headquarters and showroom.

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DevelopmentIllinoisMidwestMultifamily

Joint Venture Completes 304-Unit Lumen Fox Valley Luxury Apartment Complex in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Developers Atlantic Residential and Focus have completed Lumen Fox Valley, a 304-unit luxury apartment complex that repositioned a portion of the Fox Valley Mall in Aurora. Evanston-based Morgante Wilson Architects (MWA) completed the interiors of the property. MWA will also complete the interiors of Lucca Fox Valley, which will replace a former department store with 323 luxury apartment units as part of the second phase of the mall’s redevelopment. Lumen Fox Valley repurposed a vacant Sears store at the mall. MWA designed all common spaces and amenities, including a two-story lobby and lounge, private dining room, clubroom, game room, fitness and yoga studio, and pet spa. MWA also selected the unit finishes for kitchens, baths and flooring, and designed and furnished the model units. Torti Gallas + Partners and HKM Architects + Planners were the project architects. Focus was the general contractor, and USAA Real Estate provided financing. Monthly rents at Lumen Fox Valley start around $1,717. Residents can now earn a free month of rent on select one- and two-bedroom units if they move in by the end of February, according to the property’s website.

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Affordable HousingDevelopmentIllinoisMidwestMultifamily

Related Midwest Underway on $44.8M Affordable Housing Renovation Project in Springfield, Illinois

by Kristin Harlow

SPRINGFIELD, ILL. — Related Midwest is underway on the renovation of Poplar Place, a 100-unit affordable housing community in Springfield. The waitlist is now open for the community, and the first rental homes are available for lease. Working with the City of Springfield and the Springfield Housing Authority, Related Midwest and general contractor LR Contracting Co. is in the process of transforming Poplar Place, which was constructed in 1950, into a modern community comprising 100 units with single-family and duplex floor plans. The $44.8 million redevelopment includes de-densifying the existing property and fully rehabbing a total of 75 buildings. Plans also call for a 2.5-acre great lawn, a new community center, playground, management office and walking paths. The affordable residences range from two to four bedrooms, with monthly rents between $800 and $925. The units are income-restricted, with qualified incomes ranging between $41,760 and $78,660 based on household size. Evan Lloyd Architects served as architect for the redevelopment.

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IllinoisLeasing ActivityLife SciencesMidwest

Mattiq Signs 17,377 SF Lease at Fulton Labs in Chicago

by Kristin Harlow

CHICAGO — Mattiq has signed a 17,377-square-foot at the Fulton Labs life sciences campus in Chicago’s Fulton Market. The clean chemistry company will occupy space on the sixth floor of 400 North Aberdeen. Mattiq is scheduled to move into the space in September and will focus on growing its electrochemical solutions portfolio to bring cost-competitive, low-carbon chemical products to market. Dan Lyne of CBRE represented ownership, Trammell Crow Co., in the lease. Max Zwolan and Scott Brandwein of JLL represented the tenant. Fulton Labs totals 725,000 square feet across two buildings.

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IllinoisLeasing ActivityMidwestRetail

Five New Retail Tenants to Open at Deer Park Town Center in Suburban Chicago

by Kristin Harlow

DEER PARK, ILL. — Five new tenants are opening at Deer Park Town Center in the northwest Chicago suburb of Deer Park. Victoria’s Secret has already opened its 4,965-square-foot store next to Pottery Barn. Clean Juice, which offers organic and fresh cold-pressed juices and smoothies as well as sandwiches and salads, is opening this spring. The Clean Juice location will span 1,371 square feet and will be owned and operated by local franchisee Joe Carmosino. Also debuting this spring is The Shade Store, a custom window treatment company that will occupy 1,550 square feet, and Aerie, a clothing retailer that will open a 4,500-square-foot store. This fall, Ancho & Agave will open a Mexican restaurant. The Deer Park Town Center location marks the brand’s fifth restaurant in Illinois and will total 8,750 square feet with a patio and center bar. Deer Park Town Center is an outdoor lifestyle shopping center managed by JLL that features more than 60 retail, restaurant and service brands.

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AcquisitionsIllinoisIndustrialMidwest

DarwinPW Realty/CORFAC International Brokers Sale of 93,911 SF Industrial Building in Chicago

by Kristin Harlow

CHICAGO — DarwinPW Realty/CORFAC International has brokered the sale of a 93,911-square-foot industrial building located at 5841 W. Dickens Ave. in Chicago. The sales price was undisclosed. Terry Lynch of DarwinPW represented the seller, JLO Metal Products. The buyer, Elite Auto Corp., will repurpose the former manufacturing facility into a car sales business. The building is a World War II-era manufacturing facility that has heavy power and bus ducts along with four docks and one drive-in door. Steve Kohn of Avison Young represented Elite Auto Corp., which is expanding from its location in Chicago’s Logan Square neighborhood.

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AcquisitionsDevelopmentIllinoisLeasing ActivityMidwestRetail

Fortec Purchases Former School District Headquarters in Barrington, Illinois, Inks Lease with Nest Schools

by Kristin Harlow

BARRINGTON, ILL. — Fortec, a Miami-based real estate development company focused on educational projects, has purchased the former Barrington School District headquarters in suburban Chicago for $695,000. Fortec is investing an additional $2.8 million in remodeling the building and creating an adjacent playground. The developer has signed a 17-year lease with The Nest Schools, an early childhood education operator with over 50 locations nationwide. The Nest Schools is slated to open this summer and will serve approximately 200 children ages six weeks to 12 years. Milo Spector of Northmarq represented Fortec in the transaction. Jennifer Hopkins and Olivia Czyzynski of SVN Chicago Commercial represented the seller, the Board of Education of Barrington Community Unit School District Number 220. The Barrington School District utilized the 12,413-square-foot property from the early 1970s until 2019.

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IllinoisIndustrialLeasing ActivityMidwest

Chicagoland Quad Cities Express Signs 140,000 SF Industrial Lease in Country Club Hills, Illinois

by Kristin Harlow

COUNTRY CLUB HILLS, ILL. — Chicagoland Quad Cities Express Inc., a local warehousing and trucking company, has signed a 140,000-square-foot industrial lease at LogiPark 57-80 in the Chicago suburb of Country Club Hills. Logistics Property Co. (LPC) owns the 1.2 million-square-foot, three-building development, which is now fully leased. Aaron Martell and Ben Fish of LPC worked with Irv Gilner of Transwestern to lease the space. George Cibula and Luke Ferzacca of DarwinPW Realty/CORFAC International represented the tenant. Chicagoland Quad Cities Express will consolidate two of its locations into the new space, which offers immediate access to I-57 and I-80.

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DevelopmentIllinoisMidwestRetail

PREMIER Design + Build Group Begins Expansion Project for Abt Electronics Showroom in Suburban Chicago

by Kristin Harlow

GLENVIEW, ILL. — PREMIER Design + Build Group has begun work on a retail showroom renovation and expansion project for Abt Electronics in the Chicago suburb of Glenview. Abt is a retailer of electronics, appliances and home goods. The company’s showroom totals 114,000 square feet. PREMIER will expand the second floor of the showroom, adding 41,316 square feet with an elevator and restroom facilities. The property will remain open throughout construction. Cornerstone Architects Ltd. is the project architect. Completion is slated for the third quarter of this year.

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