NAPERVILLE, ILL. — The Boulder Group has arranged the $3.5 million sale of a single-tenant retail property net leased to Staples in Naperville within metro Chicago. The 22,888-square-foot building is situated on 2.4 acres. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a real estate investment firm. The buyer was a Southeast-based investment company. The Staples lease expires on March 31, 2032. The tenant has operated at the location since 2006.
CHICAGO — Chicago-based general contractor Skender has completed The Fulton, an 11-story, 535,000-square-foot office development at 217 N. Sangamon St. in Chicago’s Fulton Market neighborhood. Developed by Fulton Street Cos. and Shanna Collective, the project marks the only Class A office building to break ground in Chicago since 2023, according to Skender. Designed by FitzGerald Associates Architects and Morris Adjmi Architects, The Fulton features floor-to-ceiling windows, several outdoor terraces, a rooftop lounge and bar, multiple conference and coworking spaces and a fitness center. A basement provides parking for up to 80 vehicles. Additionally, a glass atrium connects the new development with a redevelopment of the historic Schwinn Bicycle factory, which is being converted from apartments into office space. Alex Panici, vice president at Skender, says the project brings the perfect blend of historical significance and modern design. “A tremendous amount of thought was put into everything from the material selection to the energy efficiency, and this property is sure to meet the needs of the modern workforce long into the future.” The Fulton is both WELL- and LEED Silver-certified. Committed office tenants include The Coca-Cola Co., Harrison Street Asset Management, BlackEdge Capital and Permanent Capital. Gibsons Steakhouse and Equinox Fitness …
CHICAGO — Club Studio, a fitness concept offering high-end amenities, boutique studio classes and wellness services, has signed a 32,000-square-foot retail lease at Newberry Plaza in Chicago’s Gold Coast neighborhood. CBRE’s Luke Molloy, Danny Jacobson and Stephen Ansani represented the landlords, 11 East Partners and Blackbird Investment Group. The transaction marks the third lease completed at the redevelopment of the building’s retail base, known as Newberry on the Triangle. Club Studio will occupy a majority of the second floor and all of the third floor of the retail space at the base of the 53-story residential tower. Club Studio joins Anthropologie, which signed a 16,000-square-foot lease on the first floor, and Canadian restaurant group Moxies, which is bringing a 13,600-square-foot dining concept to the property.
MONTGOMERY, ILL. — Marcus & Millichap has arranged the sale of U.S. 30 Storage, a 500-unit self-storage property positioned along U.S. Route 30 in Montgomery, a western suburb of Chicago. Jon Silvers and Sean Delaney of Marcus & Millichap represented the seller, a trust, and procured the buyer, a national real estate investment firm. The property will be professionally managed by CubeSmart. Located at 1400 Bohr Ave., the 39,660-square-foot asset features 278 non-climate-controlled units and 222 outdoor parking spaces for vehicles, boats and RVs.
BATAVIA, ILL. — Beyoglu USA, a food manufacturing and distribution company based in Turkey, has signed a 28,500-square-foot industrial lease at 1425 Nagle Blvd. in Batavia, a western suburb of Chicago. Matt Hanson of Brown Commercial Group represented the tenant. The building was formerly home to a food industry tenant.
CHICAGO — Draper and Kramer Inc. has provided a $64.8 million HUD 221(d)(4) construction loan on behalf of Riverside Investment & Development for a new 12-story, 199-unit apartment building at 566 W. Van Buren St. in Chicago’s West Loop. Matt Wurtzebach, Dave Tomfohrde, Bill Barry, Jeff Ross and Kevan Briscoe of Draper and Kramer originated the loan, which features a fixed interest rate with interest-only payments during construction and converts to a fully amortizing 40-year permanent loan after year 10. The $85 million project is slated for delivery in 2027.
NAPERVILLE, ILL. — Real Capital Solutions (RCS) has acquired MetroWest, a 10-story office building in Naperville, for $16.1 million. The 207,714-square-foot property is located at 55 Shuman Blvd. The purchase price represents a significant discount to the property’s most recent sale for $32.5 million in 2015 when it was nearly fully leased. RCS says the reset in pricing reflects broader market conditions, including higher interest rates, constrained lending and limited liquidity across the office sector. MetroWest is currently 67.6 percent leased and is anchored by Midwest Orthopaedics at Rush, which occupies 11 percent of the building under a long-term lease through 2034. Designed by architect Helmut Jahn, the building features amenities such as a fitness center, cafeteria and structured parking. RCS plans to implement a targeted leasing and repositioning strategy. Approximately 40 percent of the vacant space already includes modernized or move-in-ready suites. Newmark’s Peter Harwood, Jim Postweiler, Jack Trager and Mary Gilbank represented the undisclosed seller.
ELGIN, ILL. — Lee & Associates of Illinois and CBRE have arranged the sale of a 510,000-square-foot, 82-acre former corporate campus and ministry facility at 1000 N. Randall Road in Elgin. Kenneth Franzese and John Cassidy of Lee & Associates and Tony Gange of CBRE represented the seller, Harvest Bible Chapel. The self-represented buyer was Acts2Network, a Christian organization based in California. Originally developed as Safety-Kleen’s world headquarters in 1993, the property includes a roughly 350,000-square-foot office building wrapped around a multi-story parking deck, plus a 160,000-square-foot addition developed by Harvest Bible Chapel to accommodate an academy, worship center, gym and multipurpose ministry space. Amenities include a 2,100-seat auditorium, athletic center, production studios, training rooms, a cafeteria with full kitchen, visitor café and related support areas. The transaction terms included a longer-term leaseback for Harvest Bible Chapel’s academy and portions of its corporate offices, worship center and support spaces. Prior to closing, Acts2Network and Harvest Bible Chapel began cohabitating the campus. Shared spaces such as the worship center and gym serve both organizations.
MOKENA, ILL. — Inland Real Estate Acquisitions LLC has purchased Clarendale of Mokena, a 156-unit senior living community in Mokena, a southwest suburb of Chicago. The property features 60 independent living residences, 56 assisted living units and 40 memory care units. Amenities include a bistro, pub, dining room, fitness studio, theater room, salon, outdoor patio and landscaped grounds. Clarendale of Mokena was 94 percent occupied at the time of sale. Inland’s Matthew Tice and Brett Smith completed the transaction on behalf of an Inland affiliate. A joint venture between LCS and Nuveen Real Estate was the seller. LCS Community Operations will continue to provide management services for the community and its residents.
ALTON, ILL. — Marcus & Millichap has brokered the $9.3 million sale of Oakwood Plaza, a 16-suite retail property in Alton. Built in 2005, the 45,400-square-foot center sits on nearly 9 acres and is home to tenants such as Panera, Spectrum, Dollar Tree and Great Clips. Chris Garavaglia, Alex Perez and Steven Weinstock of Marcus & Millichap represented the seller, Commonwealth Commercial. Buyer information was not provided.
