WILMINGTON, ILL. — Silver Creek Development has sold a 2 million-square-foot industrial facility and adjacent land parcel to Michelin North America for $151 million. Located at 29900 S. Graaskamp Blvd. in Wilmington, about 60 miles southwest of downtown Chicago, the regional distribution property sits on a 91-acre site and is fully occupied by Michelin North America. The company uses the property to house inventory serving dealers and automakers throughout the Midwest and western U.S. Silver Creek acquired the property from Transwestern Development Co. in 2021 for $126 million. Pacific Life Insurance Co. provided $81.9 million in financing for Silver Creek’s original acquisition.
EVANSTON, ILL. — Draper and Kramer Inc. has acquired a 268-unit luxury apartment community in Evanston. The 15-story property, Albion Evanston, will be rebranded as Eva. Draper and Kramer will also assume property management of the community, which was 98.5 percent leased and 98 percent occupied at the time of acquisition. The property offers studio, one- and two-bedroom floor plans ranging from 441 to 1,988 square feet. Amenities include a fitness center with indoor-outdoor yoga studio, outdoor heated rooftop pool, rooftop sky club, pet spa, coworking space and a Luxer One package room. The property includes 198 parking spaces. The first floor features 7,090 square feet of fully leased retail space, with current tenants the reform method and IMAGE Studios Salon Suites. JLL represented the undisclosed seller.
CHICAGO — Rush University System for Health and Endeavor Health have unveiled plans to merge, creating a system of 12 hospitals and more than 400 care sites. An incremental $1 billion investment, funded by Endeavor, will advance community impact, academics and research, and quality and care innovation in communities across the Chicagoland region. The combined system will operate under the Rush name. Upon close, Endeavor President and CEO J.P. Gallagher will be named president and CEO of the unified system. Dr. Omar Lateef, president and CEO of Rush, will continue in this role through the close of the transaction. He will then serve as CEO emeritus and strategic advisor to the CEO. A 20-person system board will be appointed, with equal representation from Rush and Endeavor board members and led by a chair from the Rush system. Together, the organization will have more than 46,000 employees and clinicians serving more than 2 million patients annually across northern Illinois and northwest Indiana. The transaction is expected to close in early 2027, following regulatory review and approval. Rush is a nonprofit health system that includes Rush University Medical Center, Rush University, Rush Copley Medical Center and Rush Oak Park Hospital, as well …
GLENVIEW, ILL. — Owner Dermody has inked two new leases at The Logistics Campus in Glenview. LSL Industries LLC has leased 81,225 square feet of Building 4, and S&C Electric Co. has fully leased Building 5, a 295,278-square-foot facility. Positioned just north of Chicago O’Hare International Airport, The Logistics Campus will total more than 3.2 million square feet of Class A logistics space upon completion. Ten buildings are planned for the development. LSL Industries is an Illinois-based manufacturer of disposable medical devices, surgical procedure kits and hospital supplies. S&C Electric is a Chicago-based global provider of technology and services for electric power systems. Suzanne Serino, Jonathan Kohn and Christopher Volkert of Colliers represented Dermody in the leases. Sam Badger and David Prell of CBRE represented LSL. Sally Macoicz, Matthew Saddler and Christopher Johnke of Cushman & Wakefield represented S&C. Three remaining spaces at The Logistics Campus are available for occupancy ranging from 66,000 to 160,000 square feet. Phase I is complete, and Phase II includes 77 acres of fully entitled, shovel-ready property.
CHICAGO — Northmarq has provided $24.7 million in refinancing for Reside on Jackson, a 93-unit apartment community in Chicago. Kevin McCarthy of Northmarq arranged the Fannie Mae financing on behalf of the borrower, Newcastle Investors. Built in 2016, the property offers a mix of one- and two-bedroom units. Amenities include a resident rooftop with grills, bicycle storage, a 24-hour concierge and 24-hour emergency maintenance.
BLUE ISLAND, ILL. — Kiser Group has brokered the sale of Blue Station Apartments, a 345-unit apartment community in Blue Island, 16 miles south of Chicago’s Loop. The property at 2130 W. 122nd St. was 96 percent occupied at the time of sale. Ownership has invested more than $3.5 million in capital improvements over the past four years. Lee Kiser and Kyle Sissell of Kiser Group represented the seller, Kinzie Assets. Michael Duckler represented the out-of-state buyer while affiliated with Interra Realty. Duckler now works for Greenstone Partners. The sales price was $22 million.
LISLE, ILL. — Sentinel Technologies has signed a full-building headquarters lease totaling 63,409 square feet at Corporetum Office Campus X in Lisle. Sentinel will occupy the four-story building with its office, research and development, and technology lab functions under one roof. The company is expected to relocate in the first quarter of 2027 from its current headquarters in Downers Grove, approximately one mile away. The move marks Sentinel’s first headquarters relocation in more than 30 years. Jordan Decker and Brian Duffy of Stream Realty Partners represented Sentinel in the lease. David Florent and Brent Jacobs of Colliers represented the landlord, Napleton Automotive Group. As part of the new lease, the building will undergo significant capital improvements to support Sentinel’s operations and long-term occupancy.
CHICAGO — Newmark has arranged the $30 million sale of Block 37, a 277,654-square-foot trophy retail property located in downtown Chicago. Block 37 comprises five floors of retail space anchored by a mix of tenants including Zara, Sephora, AMC Theatres and The Dearborn, and a four-level underground parking garage. The property is situated within the larger Block 37 mixed-use development that also features residential and office towers. Keely Polczynski and Brian Schneiderman of Newmark represented the seller, CIM Group, in the transaction.
CHICAGO — Logistics Property Co. has sold a distribution facility located at 1237 W. Division St. in Chicago for $195 million. Amazon (NASDAQ: AMZN) has been reported as the buyer by multiple media outlets. Situated near downtown Chicago and totaling 571,423 square feet, the property was the first multi-story logistics facility to be developed in the Midwest, according to JLL. The facility was purpose-built for distribution operations and features clear heights over 34 feet, 56 loading docks, 135-foot truck court depths, a dedicated second-floor truck ramp and 10,000 amps of power. Parking capacity at the facility includes a 292,500-square-foot rooftop parking deck and an adjacent five-level parking structure, which together accommodate up to 1,590 automobiles or 763 vans. According to JLL Capital Markets, which brokered the sale, more than 1 million residents live within a five-mile radius of the property, which is situated roughly three miles from Chicago’s central business district, with convenient access to Chicago O’Hare International and Chicago Midway International airports. Amazon plans to begin operations at the facility in late 2027 or early 2028 and use the property as a same-day delivery center, according to the Chicago Sun-Times. Logistics Property Co. completed the development in late 2024. In …
CHICAGO — Flexday, a national provider of flexible office solutions, has launched four fractional office suites at PNC Centre in Chicago’s Loop. The suites total more than 25,000 square feet and are designed to accommodate teams of 10 to 70 with flexible lease terms. The launch was made possible through a partnership with MetLife Investment Management, the building’s ownership group, as part of a broader capital investment in PNC Centre that includes a newly renovated lobby and upgraded tenant amenities. Brad Despot, Kim Doyle and Catherine Walsh of JLL represent MetLife at PNC Centre.
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