DEKALB, ILL. — BWE has arranged $48 million to refinance a 978,000-square-foot logistics facility occupied by 3M in DeKalb. Mike Guterman of BWE arranged the fixed-rate loan, which features a 55 percent loan-to-value ratio. Griffin Capital, a southern California-based real estate investment and management company, was the borrower. Aegon, a life insurance company lender, provided the loan. Located at 1650 Macom Drive, the property is one of several that are fully leased to 3M in the DeKalb area, totaling around 2.5 million square feet. The building features specialized chemical storage and aerosol rooms, cold storage facilities and containment floors.
CREST HILL, ILL. — Cawley Commercial Real Estate has negotiated a lease for a newly constructed industrial facility totaling 577,422 square feet in Crest Hill on behalf of MWI Property Group. The tenant is a global logistics company. Situated on 37 acres within Crest Hill Business Park, the cross-docked warehouse features a clear height of 36 feet, 104 truck doors, 151 trailer parking stalls, 345 vehicle parking spaces, 14 van stalls, up to 4,000 amps of power and immediate access to the I-55 logistics corridor. Joshua Hearne of Cawley CRE led the leasing assignment, with colleagues Reinier Pranger and Andrew Bobak supporting marketing and leasing efforts. Cawley CRE also assisted MWI on the land acquisition. MWI’s construction affiliate, MWI Construction, served as the design-build general contractor. SPACECO provided engineering services, and Harris Architects provided architectural design services.
JOLIET, ILL. — Inland Real Estate Acquisitions LLC has purchased an 859-unit self-storage facility in Joliet, about 40 miles southwest of Chicago. Mark Cosenza and Brett Smith completed the transaction on behalf of an Inland affiliate. Previously an ExtraSpace Self Storage property, the facility will be rebranded and fully managed by Devon Self Storage, a member of The Inland Real Estate Group of Cos. Inc. The two-story, 112,209-rentable-square-foot facility was constructed in 2023. The main climate-controlled building is comprised of 764 units and 95 exterior drive-thru units, of which 13 are oversized for RV, boat or large vehicle storage.
CHICAGO — Google has shared new design renderings for the Thompson Center’s atrium in Chicago. The company announced plans to buy the James R. Thompson Center building in 2022. Google has also teamed up with After School Matters to commission a student-designed art piece for the retail concourse. Artist Sanford Biggers has been selected to create a sculpture for the plaza that will honor the Loop’s history of public art. Conceptualized with Architecture Plus Information (A+I), Google is expanding the central opening beneath the 17-story atrium, constructing a cascading staircase integrated with terraced seating and retail offerings. The activated atrium and plaza will feature food, retail and space for seasonal events. The project is slated for completion in 2028. Google opened its Chicago office in 2000 and has grown its employee base in the city to more than 2,000 employees. Google also announced that it will provide $1 million in funding to A Better Chicago to support student attendance.
BERKELEY, ILL. — Dermody has broken ground on the LogistiCenter at Berkeley, a 357,619-square-foot facility at 5300 St. Charles Road in Berkeley, a western suburb of Chicago. The project is a redevelopment of an older, functionally obsolete industrial building. The property will feature a clear height of 40 feet, 57 dock-high doors, 357 car parking spaces and 63 trailer stalls. The project is expected to be available for lease in the first quarter of 2027. Charlie Kenning, Jackie Shropshire and Dan McGillicuddy of JLL are representing Dermody.
CHICAGO — Interra Realty has brokered the $19.2 million sale of Paper Box Lofts, a 35-unit apartment building in Chicago’s River North neighborhood. Joe Smazal and Mark Dykstra of Interra represented the buyer, an affiliate of Los Angeles-based Blatteis & Schnur Inc. The duo also represented the seller, an affiliate of Chicago-based developer Senco Properties Inc. Built in 1906 as a paper and box factory, the building operated as loft offices prior to the seller converting it into luxury apartments in 2024. Amenities include a fitness center, multi-level rooftop deck, storage lockers, a mail room and lobby.
CHICAGO — Greenstone Partners has brokered the $4.4 million sale of 1276 W. Washington Blvd., a development site in Chicago’s West Loop neighborhood. Danny Spitz and Malek Abdulsamad of Greenstone represented the buyer and seller. The property consists of a 14,850-square-foot parcel of land owned by a longtime Greenstone client. The buyer plans to build a condominium development on the site.
CHICAGO — Coworking concept Switchyards has inked two leases for additional locations in Chicago. JLL brokered both deals. Sarah Silva and Nicole Becker of JLL represented Switchyards and landlord Range Group in two simultaneous transactions — 2440 N. Lincoln Ave. in Lincoln Park and 1046 W. Kinzie St. in Fulton Market. Both clubs are scheduled to open Monday, Oct. 26.
SKOKIE, ILL. — Draper and Kramer Inc. has arranged a $99.6 million loan on behalf of Fairbourne Properties for the acquisition of Village Crossing, a 724,400-square-foot shopping center on the border between Skokie and Niles. Built in 1988, the grocery-anchored property includes Jewel-Osco, AMC and Dick’s Sporting Goods. Bill Barry and Bill Stewart of Draper and Kramer’s Commercial Finance Group arranged the loan. In addition to funding the acquisition, the loan will be used for tenant improvements and leasing commission costs for new leasing at the property.
LOMBARD AND NAPERVILLE, ILL. — Northmarq has arranged the sales of two Chicagoland multifamily properties for a combined $67.3 million. The assets include Westmore Apartments, a 230-unit property in Lombard, and Whispering Trails, a 120-unit property in Naperville. Westmore Apartments was built in 1968 and is 98 percent occupied. Ownership invested more than $3.7 million in capital improvements over the past decade. Whispering Trails was built in 1985. Ownership invested nearly $2.2 million in capital improvements. Parker Stewart, Dominic Martinez, Alex Malzone and Jake Lamb of Northmarq represented the seller, Axiom Properties Inc. B & A Property Group LLC purchased Westmore Apartments for $46 million, while FPA Multifamily bought Whispering Trails for $21.3 million.
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