Sunday, November 16, 2025
Read the Digital Magazines Subscribe to the Magazines
Subscribe

Illinois

AcquisitionsIllinoisMidwestRetail

Mid-America Brokers Sale of 255,704 SF Wind Point Shopping Center in Batavia, Illinois

by Kristin Harlow

BATAVIA, ILL. — Mid-America Real Estate Corp. has brokered the sale of Wind Point Shopping Center, a 255,704-square-foot, grocery-anchored community center in the Chicago suburb of Batavia. The property is 98.7 percent leased to tenants such as Aldi, Kohl’s, Hobby Lobby, Harbor Freight Tools, OfficeMax, HobbyTown, Picked!, PetLand and AT&T. The center is positioned on the retail corridor or Randall Road. Ben Wineman and Emily Gadomski of Mid-America represented the seller, PMAT Real Estate Investments. Core Equity Partners was the buyer.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLoansMidwestMultifamily

BBCP Secures $38M Loan for Refinancing of Multifamily Portfolio in Morton, Illinois

by Kristin Harlow

MORTON, ILL. — Black Bear Capital Partners (BBCP) has arranged a $38 million loan for the refinancing of a three-property multifamily portfolio totaling 236 units in Morton near Peoria. Ethos Build was the borrower. PGIM provided the five-year, fixed-rate loan, which features interest-only payments for three years, a 30-year amortization schedule and a 65 percent loan-to-value ratio. The properties, located at 1950 S. Second Ave., 651 Harding Road and 661 Harding Road, are 97 percent occupied and feature a mix of two- and three-bedroom units. All residents have access to a 4,000-square-foot clubhouse with work stations, a self-serve café, lounge, game area, outdoor porch and fire pits.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisLoansMidwestRetail

JLL Arranges $27.3M Acquisition Loan for Shopping Center in Metro Chicago

by Kristin Harlow

NAPERVILLE, ILL. — JLL Capital Markets has arranged a $27.3 million acquisition loan for Market Meadows, a 149,185-square-foot, grocery-anchored shopping center in Naperville. Chris Drew, Travis Anderson, Chris Knight, Wells Waller and Merrick Evans of JLL represented the borrower, Barings, in arranging a seven-year, fixed-rate loan through Principal Asset Management. The property is 98.3 percent leased and anchored by a Jewel-Osco store that comprises 45 percent of the net rentable area. Additional tenants include U.S. Bank, BMO Bank, T-Mobile, Chipotle, Jersey Mike’s Subs and McDonald’s.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestMultifamily

Interra Realty Arranges $12.2M Sale of Multifamily Property in Metro Chicago

by Kristin Harlow

ELMWOOD PARK, ILL. — Interra Realty has arranged the $12.2 million sale of Harlem Towers, a two-tower multifamily property with 83 units in the Chicago suburb of Elmwood Park. Patrick Kennelly, Paul Waterloo and Nathan Zito of Interra represented the buyer, Pabcor Management, and the seller, Neder Capital Services. Yaryna Makarchuk served as the seller’s representative throughout the transaction. Located at 2300-2310 N. Harlem Ave., the property includes 27 one-bedroom units, 55 two-bedroom residences and one three-bedroom apartment. In addition to some unit renovations, recent capital improvements include upgraded elevators, common area refurbishments and new fire alarm and elevator monitoring systems. The asset was built in 1975 and features two eight-story towers. Harlem Towers will be rebranded as The American Elm after the elm trees that inspired Elmwood Park’s name.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

Greenstone Partners Negotiates $1.9M Sale of Retail Center in St. Charles, Illinois

by Kristin Harlow

ST. CHARLES, ILL. — Greenstone Partners has negotiated the $1.9 million sale of a 4,083-square-foot, two-tenant retail center located at 2701 E. Main St. in St. Charles. The property, which features a drive-thru, is occupied by Dunkin’ and Options Medical, a weight loss facility with 40 locations across the U.S. Both tenants operate under net lease structures. Brewster Hague, AJ Patel and Tom Galvin of Greenstone represented the seller, a private partnership. The buyer was a local investor.

Continue Reading
FacebookTwitterLinkedinEmail
DevelopmentIllinoisIndustrialLoansMidwestMultifamily

BBCP Arranges $41.5M in Financing for Industrial-to-Multifamily Conversion Project in Peoria, Illinois  

by Kristin Harlow

PEORIA, ILL. — Black Bear Capital Partners (BBCP), a subsidiary of Black Bear Asset Management, has arranged $41.5 million in financing for the redevelopment of two warehouse buildings located at 800 and 801 SW Washington St. in Peoria. Oculus Development is the owner and developer. BBCP arranged the financing in two components, both with Southern Bank. A $28.5 million construction loan features a three-year term, fixed interest rate, interest-only payments for the full term and a 66 percent loan-to-cost ratio. A $13 million historic tax credit bridge loan features a two-year term, floating interest rate, interest-only payments for the full term and a 90 percent loan-to-cost ratio. BBCP also assisted in sourcing the historic tax credit equity. The project will feature 170 apartment units and 2,500 square feet of commercial space across two adjoining warehouse buildings. Plans call for a mix of studio, one- and two-bedroom units along with 237 parking spaces. Amenities will include community lounges, laundry rooms, pet grooming stations, a fitness center, bike storage, package rooms, a reading room, movie theater, game room, pet run and courtyard.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Brokers $12.5M Sale of Walmart-Occupied Retail Property in Metro Chicago

by Kristin Harlow

ROLLING MEADOWS, ILL. — Marcus & Millichap has brokered the $12.5 million sale of a 130,200-square-foot retail property occupied by Walmart in the Chicago suburb of Rolling Meadows. Built in 2000 and renovated in 2016, the single-tenant property sits on 9.8 acres at 1460 Golf Road. Walmart, which recently signed a long-term lease extension with an absolute net structure backed by a corporate guarantee, has occupied the space for nearly 25 years. Ashish Vakhariya, Seth Haron, Darin Gross and Steven Weinstock of Marcus & Millichap represented the private equity fund seller and procured the institutional buyer.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisIndustrialLeasing ActivityMidwest

Perfection Servo Hydraulics Signs 15,840 SF Industrial Lease in St. Charles, Illinois

by Kristin Harlow

ST. CHARLES, ILL. — Perfection Servo Hydraulics, an automation machinery manufacturing and repair company, has signed a full-building industrial lease for 15,840 square feet at 3940 Swenson Ave. in St. Charles. Luke Dummitt of Brown Commercial Group represented the tenant, which is part of SunSource, a North American equipment manufacturing, repair and fabrication business that maintains its primary Illinois facility in Addison. Eric Schneider and Joel Friedland of Brit Properties represented the undisclosed landlord. Perfection’s previous storage location in Batavia was sold. Additionally, the company sought more space for its equipment storage needs.

Continue Reading
FacebookTwitterLinkedinEmail
IllinoisLeasing ActivityMidwestOffice

Zurich Signs 52,000 SF Lease to Relocate Downtown Chicago Office to Willis Tower

by Kristin Harlow

CHICAGO — Zurich North America has signed a 52,000-square-foot office lease at Willis Tower, which is located at 233 S. Wacker Drive in Chicago. Zurich, a global insurer, will occupy floors 53 and 54, relocating its downtown Chicago office from 300 S. Riverside Plaza. The new office will feature innovative workplace design and technology to enable collaboration within a hybrid environment. Zurich’s primary North American headquarters will remain in Schaumburg, Ill., where the company launched its U.S. operations in 1912. Zurich is expected to transition to Willis Tower in summer 2026. Todd Mintz of JLL represented Zurich in the lease. Nikki Kern of The Telos Group LLC represented the landlord, Perform Properties.

Continue Reading
FacebookTwitterLinkedinEmail
AcquisitionsIllinoisIndustrialMidwest

Venture One Acquires 67,565 SF Industrial Building in Glendale Heights, Illinois

by Kristin Harlow

GLENDALE HEIGHTS, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has acquired a 67,565-square-foot freezer/cooler building in the Chicago suburb of Glendale Heights. The property at 601 Wall St. was fully leased at the time of sale to KeHE Distributors, a specialty food distributor. Situated in the High Grove Business Park, the building offers direct access to I-355 via Army Trail Road. The precast facility was constructed in 1991 and expanded in 2005. The asset features clear heights ranging from 22 to 37 feet, 10 exterior docks, four drive-in doors and parking for 10 trailers. There is 38,087 square feet of freezer space with glycol floors, 16,139 square feet of production space and 3,594 square feet of cold docks. Will McCormack and John Huguenard of JLL represented the seller, LBA Logistics. VK Industrial VII is co-sponsored by Venture One and Kovitz Investment Group.

Continue Reading
FacebookTwitterLinkedinEmail
Newer Posts
Older Posts