WOODRIDGE, ILL. — Lee & Associates of Illinois has negotiated a 100,800-square-foot, full-building industrial lease at 1215 101st St. in Woodridge. Jeff Galante and Jeff Janda of Lee & Associates represented the owner, Rediehs & Rediehs LLC. Manufacturing company Secure Source America LLC leased the property.
CHICAGO — Greenstone Partners has brokered the $7.5 million sale of a property with 18 luxury apartment units and one ground-floor retail space in Chicago’s Wicker Park neighborhood. Located at 1509 N. Western Ave. and built in 2018, the asset features a rooftop deck and 18 indoor garage parking spaces. At the time of sale, the property was fully occupied. Jordan Multack of Greenstone represented both the buyer and seller.
CHICAGO — Law firm Sidley Austin LLP has unveiled plans to relocate its Chicago office to 725 Randolph, a new office tower by Related Midwest in the city’s Fulton Market neighborhood. Sidley will serve as the anchor tenant of the 45-story, 1 million-square-foot property at 725 W. Randolph St. Occupancy is slated for late 2030. Todd Lippman led the CBRE team that represented Sidley. The lease square footage was not disclosed, but several media outlets report it to around 500,000 square feet. Sidley currently leases about 544,000 square feet in the 40-story tower at 1 S. Dearborn St. in Chicago’s Loop through 2030. Designed by Kohn Pedersen Fox, 725 Randolph will offer column-free floorplates, unobstructed views of the cityscape, a range of amenities and nearby dining options. Signature amenities will include private terraces offering an outdoor work setting, a destination restaurant and an outdoor sundeck. Related Midwest still needs to complete project financing and receive city council approval, according to local media reports. In its announcement, Sidley says Chicago’s Fulton Market has emerged as a destination for business, innovation and talent and is one of the nation’s fastest growing mixed-use districts. “Chicago has been central to Sidley’s history for more …
CHICAGO — Huntington Bank has signed a 10-year, 23,223-square-foot lease expansion at 222 N. LaSalle Street, growing its footprint to approximately 60,900 square feet at the 26-story building in downtown Chicago. Tishman Speyer owns the riverfront tower. The bank has operated at the property since 2011. Ellen May and Steve Golz internally represented Tishman Speyer, which also serves as property manager and leasing agent. Constructed in 1926, the building has recently undergone an expansive renovation program. The 1 million-square-foot tower is now 87 percent leased. All tenants have access to ZO Clubhouse, Tishman Speyer’s amenity network.
AURORA, ILL. — Krusinski Construction Co. has broken ground on a 32,000-square-foot addition to the Loaves & Fishes Community Services food distribution hub at 580 Exchange Court in Aurora. The project will expand the building to 62,000 square feet, enabling the nonprofit organization to meet the increasing needs of food-insecure individuals and families in DuPage, Kane, Kendall and Will counties. Since 2019, food insecurity in the area served by Loaves & Fishes has increased by more than 50 percent, according to a release. The expansion project will create greater storage capacity, improved distribution efficiencies and enhanced collaboration capabilities with partner pantries. Krusinski will build new and expanded freezer and cooler space, a larger depressed dock with more efficient access for deliveries by full-size semi-trucks and trailers and an improved site layout that increases parking capacity and flow. Construction will be completed in four phases and includes increasing the capacity of utilities. The project team includes Powers Brown Architecture and Cage Civil Engineering.
LINCOLNSHIRE, ILL. — Quill, a provider of office equipment, supplies and technology products, has signed a 60,000-square-foot office lease renewal at 300 Tri State International Drive in the northern Chicago suburb of Lincolnshire. The office is within Tri State Lincolnshire, a five-building, 560,000-square-foot office complex owned, operated and leased by Bradford Allen. Quill relocated to the property in 2023. Dan Fernitz of Bradford Allen negotiated the lease on behalf of ownership, which has invested more than $30 million in improvements since acquiring Tri State Lincolnshire in 2017.
ADDISON, ILL. — Logistics Property Co. LLC (LogiPropCo) has closed on a 9.8-acre site at 2349 W. Lake St. in Addison with plans to build a 140,122-square-foot industrial facility. The site offers immediate access to I-355 and Illinois Route 20 as well as proximity to the O’Hare airport. Construction is expected to commence this month. The project will feature a clear height of 32 feet, 36 dock positions and parking for 179 cars. Morgan Harbour Construction will serve as general contractor, Architects Plus Design Studio is the architect and Jacob & Hefner Associates is the civil engineer. Aaron Martell and Ben Fish of LogiPropCo led the sourcing of the land for the development. Sean Henrick, Jason West and Doug Pilcher of Cushman & Wakefield will serve as the project’s leasing representatives. Completion is slated for the first quarter of 2027.
ELGIN, ILL. — Colliers has brokered the sale of a 246,446-square-foot logistics facility located at 2770 Alft Court in Elgin. Jeff Devine, Steve Disse and Tyler Ziebel of Colliers represented the seller, Venture One. A publicly traded REIT was the buyer. Built in 2015 and fully leased to FleetPride, the property is situated within a fully developed business park just south of a full four-way interchange at I-90 and Randall Road.
CHICAGO — Dayton Street Partners has selected Krusinski Construction Co. to complete a tenant improvement project for an automotive and clean energy company. The Loomis facility will support a new electric vehicle repair facility on the edge of the Chicago city limits. Krusinski will revitalize the existing building by installing replacement overhead doors, renovating the restroom block to meet ADA compliance and enhancing the exterior lighting for safer access and security purposes. The project will also include the installation of new windows and a roof drainage system to accommodate the tenant’s needs. Completion is slated for next month. A+M Architects is the project architect, and Jacob & Hefner Associates Inc. is the civil engineer.
CHICAGO AND ATLANTA — The Scion Group, a Chicago-based owner-operator of student housing communities, has entered into a definitive agreement to acquire the operating business of Student Quarters (SQ), an Atlanta-based operator with interests in approximately $1.5 billion of student housing assets. SQ’s senior leadership will retain asset ownership positions. The SQ portfolio comprises approximately 13,000 beds across 21 markets, with 77 percent market overlap with Scion’s existing footprint. In addition to acquiring the SQ operating business, Scion will also invest both in underlying real estate and related fund structures. The transaction is being funded entirely with Scion’s balance sheet and is expected to close in the third quarter, subject to customary closing conditions. Prior to this transaction, Scion’s portfolio consisted of more than 105,000 beds across 161 communities in 89 U.S. markets.
