Monday, August 17, 2026
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DevelopmentIllinoisIndustrialMidwest

Associated Bank Provides $16.3M Loan for Construction of Warehouse in Metro Chicago

by Kristin Harlow

DOWNERS GROVE, ILL. — Associated Bank has provided a $16.3 million loan to a fund managed by High Street Logistics Properties LLC for the construction of a Class A warehouse at 3900 Finley Road in Downers Grove. The 123,927-square-foot project will feature 20 dock doors, two drive-in doors and 147 car parking spaces. The nearly 9-acre property between Butterfield and Ogden Avenues was formerly vacant. Construction is slated to commence this month with completion anticipated in June 2027. Krista Casper of Associated Bank managed the loan arrangements and closing.  

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AcquisitionsIllinoisIndustrialMidwest

SVN Chicago Arranges $3.7M Sale of Industrial Property in Lake Forest, Illinois

by Kristin Harlow

LAKE FOREST, ILL. — SVN Chicago Industrial has arranged the $3.7 million sale of a 35,482-square-foot industrial flex property located at 28041 N. Bradley Road in Lake Forest. John Joyce and Margaret Ames of SVN represented the seller. Situated on 2.8 acres, the property features two buildings, allowing the buyer to occupy a 23,000-square-foot headquarters while generating income on a separate 12,000-square-foot building. The facility features 1 acre of paved outdoor storage, two interior loading docks and two drive-in doors. It is located less than one mile from I-294.

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AcquisitionsIllinoisIndustrialMidwest

JLL Arranges Sale of 717,475 SF Industrial Portfolio in Chicago Market

by Kristin Harlow

CHICAGO — JLL Capital Markets has arranged the sale of a 10-property light industrial portfolio totaling 717,475 square feet in Chicago’s collar counties. The assets span five municipalities in Will, DuPage and Kane counties, offering immediate access to I-80, I-55, I-88 and I-90. The portfolio comprises second-generation facilities with an average clear height of 26 feet and a mix of single-tenant and multi-tenant configurations across 22 suites. Built in 2001 on average, the properties include a combined 78 dock doors and 23 drive-in doors complemented by 1,013 car parking spaces across 41.5 acres. There are six properties in Tinley Park, two in Mokena and single assets in Naperville, Elgin and Romeoville. Currently 83.7 percent leased to 19 tenants, the portfolio features a weighted average lease term of 3.8 years. The properties range in size from 23,600 to 237,241 square feet. Office finish percentages range from 9.4 to 24.5 percent. Kurt Sarbaugh, Ed Halaburt, Trent Agnew, Sean Devaney, Ross Bratcher and Cameron Chandra of JLL represented the seller, High Street Logistics Properties. The buyer was undisclosed.

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IllinoisIndustrialLeasing ActivityMidwest

CoreCentric Solutions Signs 286,622 SF Industrial Lease in West Chicago

by Kristin Harlow

WEST CHICAGO, ILL. — CoreCentric Solutions has signed a 286,622-square-foot industrial lease at 1717 Harvester Road in West Chicago. The long-term lease brings the 465,950-square-foot manufacturing facility to full occupancy. David Conroy, Mark Wilson, Jordan Kwiecinski and Daniel Cawley of Cawley Commercial Real Estate represented the landlord, Plymouth Industrial REIT. Mike Senner of Colliers represented the tenant. The leased property offers 4,000 amps of heavy power, 15,579 square feet of office space, 14 interior docks and one drive-in doors. The lease is scheduled to commence in October.

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AcquisitionsIllinoisMidwestRetail

Boulder Group Brokers $3.8M Sale of Fifth Third Bank Ground Lease in Oswego, Illinois

by Kristin Harlow

OSWEGO, ILL. — The Boulder Group has brokered the $3.8 million sale of a single-tenant, ground-leased Fifth Third Bank property in Oswego. The 4,273-square-foot retail building is located at 2660 U.S. Highway 34. Randy Blankstein, Jimmy Goodman and John Feeney of Boulder Group represented the seller, a West Coast-based real estate firm. The buyer was a Chicago-based investment firm completing a 1031 exchange. The lease, which is structured as a ground lease with triple-net terms and zero landlord responsibilities, has approximately nine years of remaining term. Fifth Third Bank has continuously operated from this location since 2008 and signed a new 10-year lease extension in October 2025. The lease includes 10 percent rental escalations every five years. The tenant has four five-year renewal options remaining. Cincinnati-based Fifth Third Bank operates more than 1,100 full-service banking centers and over 2,000 ATMs across 11 states.

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SparrowHawk-Almanac
AcquisitionsIllinoisIndustrialKentuckyMidwestMissouriOhioTop Stories

SparrowHawk, Almanac Realty Acquire 4.4 MSF Industrial Portfolio in Midwest for Nearly $400M

by Abby Cox

HOUSTON AND NEW YORK CITY — A joint venture between SparrowHawk and New York City-based Almanac Realty Investors has acquired a 20-property, 4.4 million-square-foot industrial portfolio located across six markets in the Midwest. Stockholm-based global investment firm EQT sold the portfolio for nearly $400 million. Brian Walsh, Lucas Borges, Steve Klein, Chris Pratt, Emma Berner and Christian Johnston of JLL Capital Markets secured a five-year, $236 million acquisition loan through PPM America on behalf of the buyers. “This acquisition accelerates SparrowHawk’s strategic expansion in the Midwest with a portfolio that is integral to connecting industrial occupiers to the large consumer markets driving logistics and e-commerce growth,” says Alfredo Gutierrez, president and founder of SparrowHawk. The assets, which are spread throughout St. Louis, Cincinnati, Cleveland, Columbus, Dayton and Louisville, were 94 percent leased at the time of sale to 30 tenants across multiple industries such as logistics and distribution; business and professional services; industrial and manufacturing; e-commerce and retail; and wholesale and supply distribution. According to various media sources, 50 percent of the collection by square footage is located in St. Louis, while Cincinnati holds approximately one-fifth of the portfolio. The industrial properties feature 30-foot average clear heights, extensive dock capacity, tilt-up …

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AcquisitionsIllinoisMidwestMultifamily

Greenstone Partners Arranges $12.6M Sale of Multifamily Property in Lansing, Illinois

by Kristin Harlow

LANSING, ILL. — Greenstone Partners has arranged the $12.6 million sale of the Hickory Oaks apartment complex in Lansing, about 25 miles south of downtown Chicago. Greenstone’s Michael Duckler represented the buyer, SpringView Investments, and the undisclosed seller. The 138-unit property presents a value-add opportunity, with in-place rents approximately 25 percent below market. The asset features eight garden-style buildings across 3 acres. There are 84 two-bedroom units, 52 one-bedroom units and two studios.

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AcquisitionsIllinoisIndustrialMidwest

Venture One Buys 131,998 SF Industrial Portfolio in Metro Chicago

by Kristin Harlow

EAST DUNDEE AND MOKENA, ILL. — Venture One Real Estate, through its acquisition fund VK Industrial VII LP, has purchased a three-building, 131,998-square-foot industrial portfolio in metro Chicago. The portfolio, which was fully leased at the time of sale, consists of single and multi-tenant properties that are home to five tenants. Two properties are in East Dundee: 160 Windsor Drive totals 40,764 square feet while 170 Prairie Lake Road totals 38,413 square feet. Both were constructed in 2001. In Mokena, 9645 Willow Lane is a single-tenant building totaling 52,821 square feet. It was built in 1979 and renovated in 2018. Joe Horrigan, Zach Graham and Ryan Bain of CBRE represented the seller. VK Industrial VII is co-sponsored by Venture One and Focus Partners Wealth.

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DevelopmentIllinoisMidwestOffice

Skender Completes 83,000 SF Headquarters for Harrison Street in Chicago’s Fulton Market

by Kristin Harlow

CHICAGO — Skender has completed the 83,000-square-foot build-out of Harrison Street Asset Management’s headquarters at The Fulton, an office property located at 919 W. Fulton Market in Chicago. The real estate and infrastructure investment management firm is relocating from its prior location at 444 W. Lake St. Harrison Street’s three-floor build-out features an atrium stair, dedicated executive suite, a mix of private offices and open work areas as well as large terrace spaces. A central café is equipped with a full bar and built-in audiovisual system to accommodate meetings. SCB was the architect. Skender also served as the base building general contractor for the 535,000-square-foot development, which wrapped construction in April. In addition to office tenants, the property is home to Gibson’s Steakhouse and Equinox Fitness.

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IllinoisIndustrialLeasing ActivityMidwest

Newmark Negotiates 150,316 SF Industrial Lease for Dynamic Manufacturing in Metro Chicago

by Kristin Harlow

FOREST PARK, ILL. — Newmark has negotiated a long-term, full-building industrial lease totaling 150,316 square feet at 7801 Industrial Drive in Forest Park on behalf of Dynamic Manufacturing. Corey Chase of Newmark represented the tenant. First Industrial Realty Trust Inc. is the landlord. Dynamic Manufacturing will use the facility for warehousing, electrification and manufacturing operations. Full operations are expected to commence in February 2027. Located on 5 acres, the property features 4,509 square feet of office space, a clear height of 24 feet, six interior loading docks, one drive-in door and parking for 120 vehicles. The fully air-conditioned warehouse and planned installation of a new ESFR sprinkler system were key factors in the tenant’s decision to lease the property, according to Newmark.

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