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Illinois

AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of 428,612 SF Shopping Center in Deerfield, Illinois

by Kristin Harlow

DEERFIELD, ILL. — Mid-America Real Estate Corp. has brokered the sale of Deerbrook Shopping Center, a Jewel-Osco-anchored shopping center in the Chicago suburb of Deerfield. The 428,612-square-foot property is home to tenants such as Marshalls, Floor & Décor, Sky Zone, Office Depot, Starbucks, Panera, Noodles & Co., Sleep Number, City BBQ, Mattress Firm and Subway. Rick Drogosz, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, a global investment advisor. Core Acquisitions LLC was the buyer. The center offers immediate value-add and redevelopment opportunities, according to Mid-America.

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IllinoisLeasing ActivityMidwestOffice

Colliers Secures 24,800 SF Office Lease for Shamrock in Downtown Chicago

by Kristin Harlow

CHICAGO — Colliers has negotiated a 24,800-square-foot office lease for Shamrock Trading Corp. at 151 N. Franklin St. in Chicago. With the lease, the Kansas City-based firm establishes a presence in downtown Chicago to complement its location in Lombard, Ill. Tom Volini and Sven Sykes of Colliers represented Shamrock, which is the parent company of a growing family of brands in transportation services, finance and technology. Designed by John Ronan Architects, 151 North Franklin is a 35-story, 807,000-square-foot office tower.

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AcquisitionsIllinoisIndustrialMidwest

SVN Chicago Commercial Negotiates $1.5M Sale of Industrial Property in Mundelein, Illinois

by Kristin Harlow

MUNDELEIN, ILL. — SVN Chicago Commercial has negotiated the $1.5 million sale of a 31,600-square-foot industrial property at 404 Washington Blvd. in Mundelein. Situated on 2.4 acres, the property features a large, paved parking lot approved for outside storage and truck parking. The undisclosed buyer plans to use a portion of the building and lease out the rest. SVN Chicago Commercial’s Next Level Team represented the seller and procured the buyer.

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IllinoisLeasing ActivityMidwestOffice

Bradford Allen Secures 10,780 SF Office Lease Renewal for Anesi Ozmon in Chicago

by Kristin Harlow

CHICAGO — Bradford Allen has secured a seven-year, 10,780-square-foot office lease renewal for Anesi Ozmon Ltd. at 161 N. Clark St. in Chicago’s Central Loop. Ben Azulay and Nathan Meisner of Bradford Allen represented the law firm, which handles personal injury, construction accident and workers’ compensation cases. The longtime tenant of the building is having its space reconfigured to include more private offices for attorneys. Designed by Kohn Pederson Fox and built in 1992, 161 N. Clark Street is a 50-story office tower with a 12th-floor tenant lounge, multiple conference rooms, a fitness center, bike storage and an open-air roof terrace with skyline views. First-floor retail tenants include Hannah’s Bretzel, Fifth Third Bank, DHL and Larry’s Shoe Shine.

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AcquisitionsIllinoisIndustrialMidwest

Missner Group Sells 80,464 SF Industrial Building in Addison, Illinois

by Kristin Harlow

ADDISON, ILL. — The Missner Group has sold an 80,464-square-foot industrial building located at 50 S. Fairbank St. in Addison. Missner developed the property in 2023 in partnership with Realterm. The building features a clear height of 32 feet, 13 exterior docks, two drive-in doors and 180 parking spaces. The property is leased to Midwest Solutions, Cytronic and PGW Autoglass.

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Arranges $4.5M Sale of Retail Property in Oak Lawn, Illinois

by Kristin Harlow

OAK LAWN, ILL. — Marcus & Millichap has arranged the $4.5 million sale of Park Lawn Plaza, a 13-suite retail property in the Chicago suburb of Oak Lawn. The asset, situated on 2.5 acres at 9600 S. Pulaski Road, totals 24,685 rentable square feet and was 84 percent occupied at the time of sale. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap represented the seller, a local real estate investment company. The buyer was a local private investor.

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AcquisitionsIllinoisMidwestMultifamily

Marquette Cos. Acquires 368-Unit Multifamily Property in Aurora, Illinois

by Kristin Harlow

AURORA, ILL. — Marquette Cos. has acquired Aurora at Summerfield, a 368-unit multifamily property in the western Chicago suburb of Aurora. Marquette Management will serve as property manager for the community, which is currently 97 percent occupied. Located at 1847 Clubhouse Drive, just off Ogden Avenue, Aurora at Summerfield comprises 26 two- and three-story buildings with a mix of one-, two- and three-bedroom units. Two-story lofted townhomes comprise 24 percent of the units. Amenities include a clubhouse with a business center, fitness center and resident lounge. Outdoor spaces include a pool, grilling stations and a playground.

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IllinoisLeasing ActivityMidwestRetail

Five New Retailers Sign Leases at North Riverside Park Mall in Suburban Chicago

by Kristin Harlow

NORTH RIVERSIDE, ILL. — Five new retailers have signed leases to open at North Riverside Park Mall in the Chicago suburb of North Riverside. The Feil Organization owns the 1.2 million-square-foot shopping center. The leases, which include Canada Weather Gear, Lovisa Jewelry & Accessories, Boneyard Chicago, FLX Move Pilates and Hello Sweetie, bring the property to 96 percent occupancy. Most of the tenants are now open. Feil acquired the mall in 2004 and completed an $8 million capital improvement plan in November 2024.

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IllinoisIndustrialLeasing ActivityMidwest

Entre Commercial Realty Negotiates 30,000 SF Industrial Lease in Mundelein, Illinois

by Kristin Harlow

MUNDELEIN, ILL. — Entre Commercial Realty has negotiated a 30,000-square-foot industrial lease at 1700 Butterfield Road in Mundelein. Elite Baseball Training has leased the facility to expand its operations and will utilize the space for sports training and development. The tenant secured a variance from the Village of Mundelein to allow for athletic use and additional parking. The property features 2,300 square feet of office space, a clear height of 20 feet, two interior docks and one drive-in door. Brian Bocci of Entre Commercial represented the tenant, while Steve Sullivan of NAI Hiffman represented the landlord, Red Tail Commercial.  

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DevelopmentIllinoisMidwestMultifamily

Hines Breaks Ground on 306-Unit Apartment Complex in Naperville, Illinois

by Kristin Harlow

NAPERVILLE, ILL. — Hines has broken ground on 1200 Diehl Road in the Chicago suburb of Naperville. The five-story apartment complex will include 306 units and 15,000 square feet of retail space. The development was partially funded through Hines U.S. Direct Investments. Units will range from studios to three-bedroom layouts. Amenities will include a pool deck, coworking lounge, clubroom, golf simulator, fitness center and walking path. Freedom Commons, a 160,000-square-foot shopping center, sits adjacent to the property. The submarket has received no new institutional multifamily supply since 2022, according to David Bach, senior managing director at Hines. PNC provided a $66 million construction loan for the development, according to Crain’s Chicago Business.

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