REBusinessOnline

Mattress Liquidators Opens at Former Bergner’s Department Store in Pekin, Illinois

PEKIN, ILL. — Mattress Liquidators has relocated to a former Bergner’s department store at East Court Village in Pekin within central Illinois. The mattress store, previously located at 3518 Court St. within the shopping center, has moved to the former Bergner’s space at 3536 Court St. Mattress Liquidators now occupies the entire 82,100-square-foot space and opened its doors on Thursday, Dec. 12. Mattress Liquidators offers name-brand mattresses at significant discounts by purchasing …

Illinois, Leasing Activity, Midwest, Retail

CIM Group Sells Interest in Downtown Chicago Apartment Tower for $265M

CHICAGO — CIM Group has sold its interest in Marquee at Block 37, a 34-story, 691-unit multifamily tower in downtown Chicago, for $265 million. Morguard North American Residential REIT (TSX: MRG.UN), a subsidiary of Morguard Corp., acquired the 51 percent interest. The community offers a mix of studio, one-, two- and three-bedroom floor plans ranging from 650 to 2,100 square feet. Communal amenities include an outdoor pool, sundeck, fire pits, rooftop hot tub, dog run, dog washing station, …

Acquisitions, Illinois, Midwest, Multifamily, Top Stories

Starwood Acquires 33-Property Industrial Portfolio in Midwest for $319.6M

CHICAGO, INDIANAPOLIS, COLUMBUS AND MILWAUKEE — Starwood Real Estate Income Trust Inc., a non-traded real estate investment trust managed by Starwood Capital Group, has acquired a 33-property industrial portfolio totaling 4.1 million square feet in the Midwest for approximately $319.6 million, excluding closing costs. The properties are located in Chicago, Indianapolis, Columbus and Milwaukee. The portfolio is 98 percent leased to 50 tenants. It is largely comprised of light industrial …

Acquisitions, Illinois, Indiana, Industrial, Midwest, Ohio, Wisconsin

Krusinski Construction Completes Buildout of Food Distribution Facility in Chicago

CHICAGO — Krusinski Construction Co. has completed a 90,000-square-foot buildout for 86 Food Service at 1400 W. 43rd St. in Chicago. The distributor of wholesale food and supplier of fresh produce, meat, poultry and dry goods to restaurants and grocery stores occupies the space within an existing 167,000-square-foot, speculative warehouse previously built by Krusinski. The buildout for 86 Food Service included the installation of cold storage refrigeration, freezers and a retail component to …

Development, Illinois, Industrial, Midwest

Adelphia Properties Brokers Sale of 5,400 SF Restaurant Building in Metro Chicago

VILLA PARK, ILL. — Adelphia Properties has brokered the sale of a 5,400-square-foot restaurant building in Villa Park, about 20 miles west of Chicago. The sales price was undisclosed. The vacant property, formerly occupied by Park West Pancake House, is located at 10 E. Roosevelt Road. George Spirrison and Simeon Spirrison of Adelphia represented the seller, a Chicago-based private investor. The buyer was also a Chicago-based private

Acquisitions, Illinois, Midwest, Restaurant, Retail

KORE Investments Acquires Class A Office Building in Metro Chicago for $128.5M

DOWNERS GROVE, ILL. — Colorado-based KORE Investments has acquired Esplanade II, a Class A office building totaling 583,982 square feet in the Chicago suburb of Downers Grove, for $128.5 million. Located at 3500 Lacey Road, the property is situated on 19 acres of the Esplanade office campus at the convergence of I-355 and I-88 in the East-West Corridor submarket. Building amenities include a deli, conference facility, parking deck and car wash service. Additional campus amenities include …

Acquisitions, Illinois, Midwest, Office, Top Stories

First Logistics Signs 108,343 SF Lease Expansion at Marina Crossings in Chicago

CHICAGO — First Logistics, an Illinois-based third-party logistics company, has signed a 108,343-square-foot lease expansion at Marina Crossings in Chicago. The company now occupies 439,754 square feet of the 633,059-square-foot facility. Completed in the fourth quarter of 2018 and located at 2075 W. 43rd St., Marina Crossings is the city of Chicago’s largest speculative industrial building since 1905, according to Cushman & Wakefield. Larry Goldwasser, Jason West, Colin Green, Matt …

Illinois, Industrial, Leasing Activity, Midwest

NAI Hiffman Negotiates Sale of 128,000 SF Industrial Building on Chicago’s West Side

CHICAGO — NAI Hiffman has negotiated the sale of a 128,000-square-foot industrial building located at 5200-5230 W. Roosevelt Road on Chicago’s West Side. The sales price was undisclosed. Built in 1946, the distribution warehouse is fully occupied by Packaging Corp. of America. It features seven loading docks, one drive-in door and clear heights ranging from 12 to 18 feet. Joe Bronson, Josh Will and Aimee Goudas of NAI Hiffman represented the owner, Rola Corp. The team also procured the …

Acquisitions, Illinois, Industrial, Midwest

American Library Association Sells Chicago Headquarters Buildings

CHICAGO — American Library Association (ALA) has sold its headquarters buildings at 50 E. Huron St. and 40 E. Huron St. in Chicago’s River North neighborhood. Neither the buyer nor the sales price were disclosed. In spring 2020, ALA will move its office to Michigan Plaza at 225 N. Michigan Ave. Until then, ALA staff will continue to occupy the adjoined, 98,000-square-foot buildings on Huron. ALA says the move will provide it with modernized workspace and enhanced meeting space. Architecture …

Acquisitions, Illinois, Midwest, Office

Marcus & Millichap Negotiates Sale of 354-Unit Self-Storage Facility Near St. Louis

COLLINSVILLE, ILL. — Marcus & Millichap has negotiated the sale of a Stowaway Self Storage facility in Collinsville, east of St. Louis. The sales price was undisclosed. Located at 1 Business Center Court, the property spans 44,038 square feet with 354 units. It features a variety of unit types ranging from five to 60 square feet in size. Britney Hendricks and Sean Delaney of Marcus & Millichap marketed the property on behalf of the seller, an individual trust. The team also procured …

Acquisitions, Illinois, Industrial, Midwest, Self-Storage
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