Illinois Archives - REBusinessOnline

SAMPA USA to Open 62,000 SF Distribution Facility in Bartlett, Illinois

Kristin Harlow — Mon, 02 Nov 2026 14:01:00 +0000

BARTLETT, ILL. — SAMPA USA is expanding its Midwest presence with a new 62,000-square-foot facility at 2305 Kenyon Road in Bartlett. SAMPA USA, a Turkish company, will relocate from Romeoville and will utilize the new location as its Midwest distribution hub. Dan Brown of Brown Commercial Group represented the developer and owner, Cratos Industrial, in the lease. The space is part of Blue Heron 160, a three-unit industrial building totaling 166,573 square feet that is now fully leased. Additional tenants include Illinois Tool Works and Clarke Packing & Crating. The new space for SAMPA USA expands its operating footprint by 48 percent.

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RE/MAX Commercial Arranges $4.5M Sale of Mixed-Use Block in Norridge, Illinois

Kristin Harlow — Mon, 02 Nov 2026 14:00:00 +0000

NORRIDGE, ILL. — Jason Bitton of RE/MAX Commercial has arranged the $4.5 million sale of a mixed-use block totaling roughly 41,000 square feet on 1.9 acres in Norridge. A private investor was the seller. William Gold of Troy Realty Ltd. represented the buyer, Prospect Heights-based 1st Liberty Management Inc. The property includes two two-story buildings with eight ground-floor storefronts and 16 apartments above them as well as a one-story, 15,000-square-foot building.

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Venture One, BGO to Break Ground on 719,200 SF Spec Industrial Facility in Geneva, Illinois

Kristin Harlow — Thu, 29 Oct 2026 13:40:56 +0000

GENEVA, ILL. — Venture One Real Estate, in partnership with BGO, will break ground on Venture Park Geneva, a 719,200-square-foot speculative industrial development in Geneva. The project site, spanning 54 acres, is located within the Fox Valley industrial submarket and offers convenient access to I-88 via the full interchange at Farnsworth Avenue. The facility will offer flexibility to accommodate users requiring 400,000 square feet or more. The project will feature a clear height of 40 feet, 120 dock positions and 555 car parking stalls. Brian Kling and Reed Adler of Colliers will market the property for lease.

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Associated Bank Provides $16.5M in Financing for Multifamily Property in Libertyville, Illinois

Kristin Harlow — Tue, 27 Oct 2026 14:17:26 +0000

LIBERTYVILLE, ILL. — Associated Bank has provided a $16.5 million loan toward the $22 million acquisition of Eleven5 Lake Apartments in Libertyville. The property features 34 units, 41 parking spaces and 25,147 square feet of commercial space. The apartments were 97 percent occupied at the time of acquisition. The commercial space is fully leased to five tenants: TLP Management, Egg Harbor Café, Shakou, The Board Room and Casa Bonita. Daniel Barrins of Associated Bank managed the loan arrangements and closing. Philip Galligan, Annie Thomas, Merrick Evans and Patricia Heminger of JLL arranged the debt on behalf of the undisclosed sponsor.

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JLL Brokers $10.1M Sale of Retail Strip Center in Lombard, Illinois

Kristin Harlow — Mon, 26 Oct 2026 13:01:31 +0000

LOMBARD, ILL. — JLL Capital Markets has arranged the $10.1 million sale of a 21,071-square-foot retail strip center in Lombard. Built in 2003 and fully renovated in 2026 for medical tenancy, the property is fully leased to Duly Health and Care, Midwest Orthopaedics at Rush and Potbelly Sandwich Works. Alex Sharrin, Mohsin Mirza, Will Bowater, Michael Nieder and Brian Page of JLL represented the seller, a joint venture between HSG Medical and Capital Healthcare Properties. A local private capital group purchased the asset in a 1031 exchange.

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Thyssenkrupp Inks 769,000 SF Industrial Lease Renewal in Edwardsville, Illinois

Kristin Harlow — Fri, 23 Oct 2026 13:17:35 +0000

EDWARDSVILLE, ILL. — Thyssenkrupp Supply Chain Services has signed a 769,000-square-foot industrial lease renewal and expansion at Lakeview V in Edwardsville near St. Louis. The transaction includes a three-year renewal of 600,000 square feet along with a 169,500-square-foot expansion. The tenant will now occupy the entire building. Peter J. Kepic and Peter E. Kepic of Colliers | Detroit represented Thyssenkrupp, with referral support from Dan Bamberger, Dan Lesinski and Billy Spence of Colliers | St. Louis. Thyssenkrupp originally leased space in the property in late 2024 following the closure of the former FedEx warehouse.

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Mid-America Arranges Sale of 244,924 SF Shopping Center in Wheaton, Illinois

Kristin Harlow — Fri, 23 Oct 2026 13:16:58 +0000

WHEATON, ILL. — Mid-America Real Estate Corp. has arranged the sale of Rice Lake Square, a grocery-anchored shopping center in Wheaton, a western suburb of Chicago. Pete’s Fresh Market anchors the 244,924-square-foot center. Additional tenants include PetSmart, Massage Envy, Pure Barre, Xfinity, Potbelly, 7Brew and Taco Bell. Rick Drogosz, Joe Girardi and Patrick Corrigan of Mid-America represented the seller, Core Acquisitions. Phillips Edison Co. was the buyer.

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Greenstone Partners Brokers $4.1M Sale of Urban Outfitters-Leased Retail Condo in Chicago

Kristin Harlow — Fri, 23 Oct 2026 13:15:20 +0000

CHICAGO — Greenstone Partners has brokered the $4.1 million sale of a 10,600-square-foot, two-level retail condominium in Chicago’s Wicker Park neighborhood that is fully leased to Urban Outfitters. Danny Spitz and Brewster Hague of Greenstone represented the seller, Newcastle Investors. Spitz also brokered Newcastle’s acquisition of the property in 2013. Urban Outfitters has occupied the asset since 2005. The tenant completed an early extension of its lease, which now runs through January 2034.

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Pine Tree Acquires Sponsor Interest in 10-Property, $644M Retail Portfolio Across Nine States

Kristin Harlow — Thu, 22 Oct 2026 12:46:26 +0000

CHICAGO — Chicago-based shopping center owner Pine Tree has acquired sponsor interest in a 10-property portfolio recently appraised at $644 million and totaling 3.5 million square feet. The interest was acquired from SITE Centers (NYSE: SITC) in partnership with a large international investor. The transaction brings Pine Tree’s total acquisition activity over the past 12 months to more than $1 billion and grows the company’s assets under management to more than $4 billion. Spanning nine states, the primarily grocery-anchored portfolio is comprised of tenants such as Target, Sam’s Club, Publix, Aldi, Sprouts Farmers Market, Food Lion, The Fresh Market, Lowe’s, Dick’s Sporting Goods, Best Buy, Marshalls, HomeGoods and Ross Dress for Less. The properties include: Ahwatukee Foothills Towne Center in Phoenix; Ashley Crossing in Charleston, S.C.; Brookside Marketplace in Chicago; Commonwealth Center in Richmond, Va.; Connecticut Commons in Hartford, Conn.; Independence Commons in Kansas City, Mo.; Poyner Place in Raleigh, N.C.; Route 22 Retail Center in New York City; Towne Center Prado in Atlanta; and University Centre in Wilmington, N.C.

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Construction Wraps Up on $192M MetroLink Extension to MidAmerica St. Louis Airport

Kristin Harlow — Thu, 22 Oct 2026 12:45:48 +0000

MASCOUTAH, ILL. — Construction has completed on the MetroLink extension to MidAmerica St. Louis Airport, which is located in Mascoutah. The milestone marks the culmination of a transformative $192 million multimodal investment designed to strengthen regional connectivity, extend transportation options and support long-term economic growth throughout St. Clair County and the bi-state region. The three-part project includes a $154 million, 5.2-mile extension of MetroLink from the Shiloh-Scott Transit Center to MidAmerica St. Louis Airport, $32 million in new roadway infrastructure and a $6 million, 4.5-mile extension of the MetroBikeLink Trail. The MetroLink extension features a new station located directly across from the MidAmerica St. Louis Airport terminal and parking lot and represents the first full MetroLink expansion in roughly 20 years. Upon opening for revenue service in the coming months, the extension will serve as MetroLink’s 39th station. It will position the St. Louis region among the few transit systems in the nation offering a direct rail connection between two airports via MetroLink’s 43-mile light rail system linking MidAmerica St. Louis Airport and St. Louis Lambert International Airport. The project was funded through a partnership between the State of Illinois and the St. Clair County Transit District (SCCTD), including $127…

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Habitat, Cabrera Capital Break Ground on LeClaire Courts Mixed-Use Redevelopment in Chicago

Kristin Harlow — Tue, 20 Oct 2026 14:19:27 +0000

CHICAGO — Habitat and Cabrera Capital, in partnership with the Chicago Housing Authority (CHA), have broken ground on the first residential phase of the redevelopment of the LeClaire Courts public housing community, which was completed in the 1950s and demolished in 2011. Replacing a 32-acre site in Chicago’s Garfield Ridge community, the multi-phase project will ultimately include up to 700 residential units, approximately 440,000 square feet of commercial space and publicly accessible open space. The first phase includes two six-story buildings comprising 183 apartments offered in a mix of studio, one-, two- and three-bedroom floor plans. Ninety percent of the homes will be designated as affordable through income and rent restrictions supported by public financing for qualifying low- and moderate-income residents, while the remaining units will be offered at market rate. Funding sources for the $119 million first phase include a $27 million capital loan from CHA, $9.5 million in city multifamily program funds, $5.5 million in tax-increment financing, $33.7 million in Low-Income Housing Tax Credit equity, $1.3 million in Illinois Affordable Housing Tax Credit equity and a $1.2 million deferred developer fee. The financing structure brings together the CHA, the city, Bank of America and other mission-driven investment partners.…

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Silver Creek Development Sells 2 MSF Industrial Facility in Illinois to Michelin North America for $151M

Kristin Harlow — Mon, 19 Oct 2026 13:14:43 +0000

WILMINGTON, ILL. — Silver Creek Development has sold a 2 million-square-foot industrial facility and adjacent land parcel to Michelin North America for $151 million. Located at 29900 S. Graaskamp Blvd. in Wilmington, about 60 miles southwest of downtown Chicago, the regional distribution property sits on a 91-acre site and is fully occupied by Michelin North America. The company uses the property to house inventory serving dealers and automakers throughout the Midwest and western U.S. Silver Creek acquired the property from Transwestern Development Co. in 2021 for $126 million. Pacific Life Insurance Co. provided $81.9 million in financing for Silver Creek’s original acquisition.

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Draper and Kramer Acquires 268-Unit Apartment Community in Evanston, Illinois

Kristin Harlow — Mon, 19 Oct 2026 13:13:51 +0000

EVANSTON, ILL. — Draper and Kramer Inc. has acquired a 268-unit luxury apartment community in Evanston. The 15-story property, Albion Evanston, will be rebranded as Eva. Draper and Kramer will also assume property management of the community, which was 98.5 percent leased and 98 percent occupied at the time of acquisition. The property offers studio, one- and two-bedroom floor plans ranging from 441 to 1,988 square feet. Amenities include a fitness center with indoor-outdoor yoga studio, outdoor heated rooftop pool, rooftop sky club, pet spa, coworking space and a Luxer One package room. The property includes 198 parking spaces. The first floor features 7,090 square feet of fully leased retail space, with current tenants the reform method and IMAGE Studios Salon Suites. JLL represented the undisclosed seller.

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Rush, Endeavor Health Unveil Plans to Merge in Metro Chicago

Kristin Harlow — Fri, 16 Oct 2026 13:31:49 +0000

CHICAGO — Rush University System for Health and Endeavor Health have unveiled plans to merge, creating a system of 12 hospitals and more than 400 care sites. An incremental $1 billion investment, funded by Endeavor, will advance community impact, academics and research, and quality and care innovation in communities across the Chicagoland region. The combined system will operate under the Rush name. Upon close, Endeavor President and CEO J.P. Gallagher will be named president and CEO of the unified system. Dr. Omar Lateef, president and CEO of Rush, will continue in this role through the close of the transaction. He will then serve as CEO emeritus and strategic advisor to the CEO. A 20-person system board will be appointed, with equal representation from Rush and Endeavor board members and led by a chair from the Rush system. Together, the organization will have more than 46,000 employees and clinicians serving more than 2 million patients annually across northern Illinois and northwest Indiana. The transaction is expected to close in early 2027, following regulatory review and approval. Rush is a nonprofit health system that includes Rush University Medical Center, Rush University, Rush Copley Medical Center and Rush Oak Park Hospital, as well…

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LSL Industries, S&C Electric Sign Industrial Leases Totaling 376,503 SF in Glenview, Illinois

Kristin Harlow — Thu, 15 Oct 2026 13:16:24 +0000

GLENVIEW, ILL. — Owner Dermody has inked two new leases at The Logistics Campus in Glenview. LSL Industries LLC has leased 81,225 square feet of Building 4, and S&C Electric Co. has fully leased Building 5, a 295,278-square-foot facility. Positioned just north of Chicago O’Hare International Airport, The Logistics Campus will total more than 3.2 million square feet of Class A logistics space upon completion. Ten buildings are planned for the development. LSL Industries is an Illinois-based manufacturer of disposable medical devices, surgical procedure kits and hospital supplies. S&C Electric is a Chicago-based global provider of technology and services for electric power systems. Suzanne Serino, Jonathan Kohn and Christopher Volkert of Colliers represented Dermody in the leases. Sam Badger and David Prell of CBRE represented LSL. Sally Macoicz, Matthew Saddler and Christopher Johnke of Cushman & Wakefield represented S&C. Three remaining spaces at The Logistics Campus are available for occupancy ranging from 66,000 to 160,000 square feet. Phase I is complete, and Phase II includes 77 acres of fully entitled, shovel-ready property.

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Northmarq Provides $24.7M Refinancing for Chicago Apartment Community

Kristin Harlow — Wed, 14 Oct 2026 12:55:26 +0000

CHICAGO — Northmarq has provided $24.7 million in refinancing for Reside on Jackson, a 93-unit apartment community in Chicago. Kevin McCarthy of Northmarq arranged the Fannie Mae financing on behalf of the borrower, Newcastle Investors. Built in 2016, the property offers a mix of one- and two-bedroom units. Amenities include a resident rooftop with grills, bicycle storage, a 24-hour concierge and 24-hour emergency maintenance.

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Kiser Group Brokers Sale of 345-Unit Apartment Community in Blue Island, Illinois

Kristin Harlow — Tue, 13 Oct 2026 13:38:55 +0000

BLUE ISLAND, ILL. — Kiser Group has brokered the sale of Blue Station Apartments, a 345-unit apartment community in Blue Island, 16 miles south of Chicago’s Loop. The property at 2130 W. 122nd St. was 96 percent occupied at the time of sale. Ownership has invested more than $3.5 million in capital improvements over the past four years. Lee Kiser and Kyle Sissell of Kiser Group represented the seller, Kinzie Assets. Michael Duckler represented the out-of-state buyer while affiliated with Interra Realty. Duckler now works for Greenstone Partners. The sales price was $22 million.

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Sentinel Technologies Inks Full-Building Headquarters Lease in Lisle, Illinois

Kristin Harlow — Tue, 13 Oct 2026 13:36:20 +0000

LISLE, ILL. — Sentinel Technologies has signed a full-building headquarters lease totaling 63,409 square feet at Corporetum Office Campus X in Lisle. Sentinel will occupy the four-story building with its office, research and development, and technology lab functions under one roof. The company is expected to relocate in the first quarter of 2027 from its current headquarters in Downers Grove, approximately one mile away. The move marks Sentinel’s first headquarters relocation in more than 30 years. Jordan Decker and Brian Duffy of Stream Realty Partners represented Sentinel in the lease. David Florent and Brent Jacobs of Colliers represented the landlord, Napleton Automotive Group. As part of the new lease, the building will undergo significant capital improvements to support Sentinel’s operations and long-term occupancy.

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Newmark Negotiates $30M Sale of Trophy Retail Property in Downtown Chicago

Kristin Harlow — Mon, 12 Oct 2026 14:56:19 +0000

CHICAGO — Newmark has arranged the $30 million sale of Block 37, a 277,654-square-foot trophy retail property located in downtown Chicago. Block 37 comprises five floors of retail space anchored by a mix of tenants including Zara, Sephora, AMC Theatres and The Dearborn, and a four-level underground parking garage. The property is situated within the larger Block 37 mixed-use development that also features residential and office towers. Keely Polczynski and Brian Schneiderman of Newmark represented the seller, CIM Group, in the transaction.

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Amazon Acquires Chicago Distribution Facility from Logistics Property Co. for $195M

Hayden Spiess — Thu, 08 Oct 2026 11:03:00 +0000

CHICAGO — Logistics Property Co. has sold a distribution facility located at 1237 W. Division St. in Chicago for $195 million. Amazon (NASDAQ: AMZN) has been reported as the buyer by multiple media outlets. Situated near downtown Chicago and totaling 571,423 square feet, the property was the first multi-story logistics facility to be developed in the Midwest, according to JLL. The facility was purpose-built for distribution operations and features clear heights over 34 feet, 56 loading docks, 135-foot truck court depths, a dedicated second-floor truck ramp and 10,000 amps of power. Parking capacity at the facility includes a 292,500-square-foot rooftop parking deck and an adjacent five-level parking structure, which together accommodate up to 1,590 automobiles or 763 vans. According to JLL Capital Markets, which brokered the sale, more than 1 million residents live within a five-mile radius of the property, which is situated roughly three miles from Chicago’s central business district, with convenient access to Chicago O’Hare International and Chicago Midway International airports. Amazon plans to begin operations at the facility in late 2027 or early 2028 and use the property as a same-day delivery center, according to the Chicago Sun-Times. Logistics Property Co. completed the development in late 2024. In…

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