REBusinessOnline

Nielsen Selects Chicago for Consumer Business Unit Headquarters

CHICAGO — Nielsen’s Global Consumer Business unit has selected Chicago as its global headquarters effective Jan. 1. Nielsen Holdings, which was founded in Chicago more than 95 years ago, decided late last year to spin off the consumer business as its own company. The branch will relocate its headquarters from New York City to its already-established office at 200 W. Jackson Blvd. in Chicago. The unit plans to further invest in and refresh the office, which currently employs a team of more …

Illinois, Midwest, Office

Venture One Begins Development of Route 60 Logistics Center in Mundelein, Illinois

MUNDELEIN, ILL. — Venture One Real Estate has begun development of Route 60 Logistics Center, a 195,375-square-foot speculative industrial facility in Mundelein, a northern suburb of Chicago. Located at 1300 Allanson Road, the infill project will feature a clear height of 36 feet, onsite trailer parking and ample car parking. Chris Volkert, Ned Frank and Pat Hake of Colliers International have been retained to market the property for lease. Meridian Design Build is the general contractor. …

Development, Illinois, Industrial, Midwest

Opus Group Breaks Ground on Industrial Build-to-Suit for WEN Power Tools in West Dundee, Illinois

WEST DUNDEE, ILL. — The Opus Group has broken ground on an industrial build-to-suit for WEN Power Tools in West Dundee, a far northwest Chicago suburb. WEN, which is owned by Great Lakes Technologies, will relocate its headquarters to the 180,623-square-foot building within Oakview Corporate Park. The project will feature a 1,900-square-foot showroom, 4,000 square feet of office space, 21 truck dock doors, two drive-in doors and a clear height of 32 feet. Opus is serving as developer, …

Development, Illinois, Industrial, Midwest

JLL Arranges $5.9M Sale of Retail Property Occupied by 7-Eleven in Chicago

CHICAGO — JLL Capital Markets has arranged the sale of a new 3,000-square-foot retail property occupied by 7-Eleven in Chicago for $5.9 million. Located at 3159 N. Clybourn Ave., the property opened in July. Alex Sharrin, Alex Geanakos and Truman Tiernan of JLL represented the seller, GW Property Group. The buyer was undisclosed. With more than 68,000 stores across 23 countries, 7-Eleven is the world’s largest store chain in the convenience retailing industry, according to

Acquisitions, Illinois, Midwest, Retail

E-commerce Fulfillment Company ShipBob Raises $68M in Funding

CHICAGO — ShipBob, an e-commerce fulfillment company based in Chicago, has raised $68 million in Series D funding led by SoftBank Vision Fund 2, which has previously invested in companies such as Uber, Slack, Opendoor and Doordash. ShipBob says it has experienced a “tremendous acceleration” in new customers since the onset of the COVID-19 pandemic. The new capital will enhance the company’s capabilities to provide for more customers, hire more workers and expand its software …

Illinois, Industrial, Midwest

Irvine Co. Negotiates 144,000 SF in Office Leases Across Three Chicago Properties

CHICAGO — Irvine Co. has negotiated several new and expanded office leases totaling more than 144,000 square feet at 300 North LaSalle, One North Wacker and 71 South Wacker. Vestian, a workplace solutions firm, doubled its footprint to 7,102 square feet at the 60-story 300 North LaSalle. LoanCore Capital, a privately held asset management firm, signed a lease for 4,521 square feet.In-telligent, a Chicago-based technology company, leased 7,753 square feet at the 51-story One North Wacker. …

Illinois, Leasing Activity, Midwest, Office

Knoebel Construction Builds Drake’s Restaurant in O’Fallon, Illinois

O’FALLON, ILL. — Knoebel Construction has completed building a new Drake’s restaurant in O’Fallon near St. Louis. The 6,014-square-foot restaurant and entertainment venue features two full-service bars and an outdoor patio. Drake’s, an entity of parent company Bluegrass Hospitality Group, is a Kentucky-based chain with 15 locations across the Midwest and Southeast. The restaurant offers more than 20 craft beers on tap as well as sandwiches, salads, burgers and sushi. Drake’s says it …

Development, Illinois, Midwest, Restaurant, Retail

Reports: Chicago’s Historic Palmer House Hilton Hotel in Foreclosure

CHICAGO — The historic Palmer House Hilton hotel in Chicago faces a bank foreclosure, according to several media reports including The Wall Street Journal. Wells Fargo Bank filed a lawsuit against Thor Equities because the owner was in default on its $333.2 million first mortgage. Located at 17 E. Monroe St., the hotel was originally constructed in 1871. Conrad Hilton later purchased it in 1945. Palmer House features 1,639 guest rooms and suites. Famous guests throughout the decades have …

Hospitality, Illinois, Midwest

J.C. Anderson Completes 22,000 SF Office Buildout for Gannett Fleming at Chicago’s Two Prudential Plaza

CHICAGO — J.C. Anderson has completed a 22,000-square-foot, full-floor office buildout for global infrastructure and engineering firm Gannett Fleming in Chicago. The firm has relocated from One Prudential Plaza to the 37th floor of Two Prudential Plaza. The new space features open office areas, private offices, meeting rooms and a large training room. Eastlake Studio provided architectural services and Gola Corporate Real Estate Inc. provided project management

Development, Illinois, Midwest, Office

MedProperties Group Sells Four-Building Salt Creek Medical Campus in Hinsdale, Illinois

HINSDALE, ILL. — MedProperties Group has sold Salt Creek Medical Campus in Hinsdale, about 20 miles west of Chicago. The sales price was undisclosed. The four-building medical office portfolio spans 156,660 square feet. The properties are 88 percent leased to a variety of healthcare providers, including the Hinsdale Surgical Center. MedProperties originally acquired 12 Salt Creek Lane, 907 Elm Street and 901 Elm Street in 2012 and 2013 and made significant capital improvements to the …

Acquisitions, Healthcare, Illinois, Midwest
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