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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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Flexday Launches Four Fractional Office Suites at PNC Centre in Chicago

Kristin Harlow — Wed, 07 Oct 2026 13:01:00 +0000

CHICAGO — Flexday, a national provider of flexible office solutions, has launched four fractional office suites at PNC Centre in Chicago’s Loop. The suites total more than 25,000 square feet and are designed to accommodate teams of 10 to 70 with flexible lease terms. The launch was made possible through a partnership with MetLife Investment Management, the building’s ownership group, as part of a broader capital investment in PNC Centre that includes a newly renovated lobby and upgraded tenant amenities. Brad Despot, Kim Doyle and Catherine Walsh of JLL represent MetLife at PNC Centre.

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Marcus & Millichap Brokers $6.3M Sale of Medical-Anchored Retail Portfolio in La Grange, Illinois

Kristin Harlow — Wed, 07 Oct 2026 13:00:00 +0000

LA GRANGE, ILL. — Marcus & Millichap has brokered the $6.3 million sale of a three-building, medical-anchored retail portfolio in downtown La Grange. The 34,279-square-foot, 12-suite portfolio spans an entire block and is located directly across from the Stone Avenue Metra Station. Longstanding tenants include Duly Health Care and Corte Dental, alongside national brands such as Rush Physical Therapy, Mathnasium and Berkshire Hathaway HomeServices. Adrian Mendoza, Sean Sharko and Austin Weisenbeck of Marcus & Millichap’s Sharko | Weisenbeck | Mendoza Group represented the seller, a private investor who is a long-term owner of properties in La Grange.

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Mid-America Negotiates Sale of 240,345 SF Shopping Center in Lombard, Illinois

Kristin Harlow — Tue, 06 Oct 2026 13:03:00 +0000

LOMBARD, ILL. — Mid-America Real Estate Corp. has negotiated the sale of High Point Centre, a 240,345-square-foot shopping center in Lombard. The property presents a value-add opportunity, as it is 68 percent leased. Tenants include LA Fitness, Altitude Trampoline Park, Ace Dental, Burger King, Mango Mango Desserts, Sport Clips, Seoul Bites Korean BBQ, Souq Market and Tropical Smoothie Café. Ben Wineman of Mid-America represented the seller, a publicly traded REIT. A private investment group was the buyer.

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Quantum Brokers $7.3M Sale of Retail Center in Naperville, Illinois

Kristin Harlow — Tue, 06 Oct 2026 13:00:00 +0000

NAPERVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the $7.3 million sale of a 23,000-square-foot retail center in Naperville. Located at 175 W. Jackson St., the property consists of eight suites. The buyer was a Chicago-based family office, and the seller was a private family that had owned and managed the property for over 30 years. Brett Berlin of Quantum brokered the transaction. At the time of sale, the asset featured two vacancies.

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Eisenberg Foundation to Host Annual Dinner in Support of Gastrointestinal Cancer Research

John Nelson — Tue, 06 Oct 2026 12:30:00 +0000

NORTHBROOK, ILL. — The Harold E. Eisenberg Foundation will host its marquee annual networking and fundraising dinner on Thursday, Nov. 5, at the Hilton Chicago located at 720 S. Michigan Ave. The goal for the foundation’s signature event — which benefits gastrointestinal cancer research programs at the Robert H. Lurie Comprehensive Cancer Center within Northwestern Medical Center — is to raise more than $750,000 through sponsorships (see list of sponsors below), ticket sales and other program opportunities. Now in its 27th year, the annual dinner is expected to attract more than 700 professionals from the commercial real estate and related industries, the business community, as well as cancer medicine and research practitioners from the Chicago area, including the Lurie Cancer Center. The overarching goal of the foundation is to make a difference in the lives of those diagnosed with any one of nine gastrointestinal cancers and to increase the rate and length of survivorship. “As we celebrate and honor survivors and caregivers, we recognize the critical importance of cancer research and the role that individuals and the private sector play in today’s world,” says Peter Eisenberg, president of the board of directors of the Harold E. Eisenberg Foundation headquartered in…

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Becovic Residential Acquires Chicago Apartment Building for $20M

Kristin Harlow — Mon, 05 Oct 2026 13:02:00 +0000

CHICAGO — Becovic Residential has acquired an historic property at 5154 N. Clark St. in Chicago for $20 million and has rebranded it as The Quarters at Andersonville. Built in 1923, the asset consists of 81 apartments and 10 ground-floor commercial spaces. The property had been held by its previous ownership for more than 40 years. The acquisition marks Becovic’s entry into the Andersonville neighborhood. Becovic plans to preserve the building’s historic character while making improvements to the residential experience. Becovic Management Group Inc. will provide property management services. Essex Realty Group brokered the transaction. Elizaeth Hozian of Associated Bank originated acquisition financing.

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Draper and Kramer Arranges Two Loans Totaling $27.5M for Chicago-Area Multifamily, Distribution Properties

Kristin Harlow — Fri, 02 Oct 2026 13:01:00 +0000

CHICAGO AND BRIDGEVIEW, ILL. — Draper and Kramer Inc. has arranged two loans totaling $27.5 million. The transactions include a $13.5 million loan to finance the acquisition of a three-building industrial complex in Bridgeview, a southwest suburb of Chicago, and a $14 million bridge loan for a 56-unit multifamily property in Chicago’s Edgewater neighborhood. Dan Freedman and Chris Beck of Draper and Kramer’s Commercial Finance Group arranged the loans. The distribution center serves as the headquarters for Chicagoland Quad Cities Express. A joint venture between Curtis Ashton Partners and Burnham Industrial Partners was the borrower. A correspondent life insurance company provided the loan. The newly constructed multifamily property is located at 1101 W. Berwyn Ave. Draper and Kramer secured the bridge loan on behalf of the developer with a two-year initial term and an option to extend for an additional three years.

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Greenstone Partners Arranges $3.2M Sale of Apartment, Retail Building in Chicago

Kristin Harlow — Thu, 01 Oct 2026 12:42:14 +0000

CHICAGO — Greenstone Partners has arranged the $3.2 million sale of a three-story, 4,650-square-foot property located at 1560 N. Damen Ave. in Chicago’s Wicker Park. The ground-floor retail space is occupied by Stan’s Donuts & Coffee, a regional bakery that has operated at the location since its founding in 2013. The upper floors include two large apartment units. Danny Spitz and Brewster Hague represented the seller and procured the private buyer.

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Morningstar to Relocate Headquarters to Chicago’s Thompson Center, Inks 275,000 SF Lease

Kristin Harlow — Wed, 30 Sep 2026 12:00:00 +0000

CHICAGO — Morningstar Inc. (NASDAQ: MORN), a provider of independent investment insights, has unveiled plans to relocate its global headquarters to the Thompson Center in Chicago’s Loop. Morningstar will co-anchor the building alongside owner Google and will occupy more than 275,000 square feet. The company plans to move to the property in late 2028. The lease marks Chicago’s largest downtown office transaction in 2026 to date, according to Morningstar, which has been headquartered in Chicago since its founding over 40 years ago. Morningstar currently employs over 1,500 people in Chicago. Located at 171 N. LaSalle St., the Thompson Center is one of the city’s highest-profile revitalization projects. Google announced plans to acquire the 1.2 million-square-foot property in 2022 and recently shared new design renderings for the renovation. The all-electric building will feature direct access to public transit, large floor plates, a 17-story atrium with food-and-beverage and retail offerings, as well as onsite employee amenities. Famed Chicago architect Helmut Jahn designed the Thompson Center, which opened in 1985 as the State of Illinois Center. The property was later renamed to honor Illinois Gov. James R. Thompson. Alongside its headquarters move, Morningstar plans to donate $5 million over the next five years…

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Darwin Investment Group Receives $130M Refinancing for Industrial Portfolio in Chicago, Southeast Wisconsin

Kristin Harlow — Tue, 29 Sep 2026 13:29:04 +0000

CHICAGO — Darwin Investment Group has received a $130 million refinancing for a 39-building industrial portfolio totaling more than 2 million square feet across the greater Chicago area and Southeast Wisconsin. A dedicated middle market real estate team within Wells Fargo Commercial Banking provided the financing. In conjunction with the refinancing, Darwin Investment Group principals George Cibula and Matthew Lewandowski acquired the 49 percent ownership interest held by their partners, bringing Cibula and Lewandowski’s ownership of the portfolio to 100 percent. The 39 properties are home to more than 225 tenants. Lewandowski, Erin Cibula and Patricia Liston facilitated the refinancing and ownership consolidation on behalf of Darwin. Paul Mokhatas, Anu Agarwal and Paul Crusen led the Wells Fargo team.

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Entre Commercial Realty Brokers Sale of 142,370 SF Industrial Facility in Plainfield, Illinois

Kristin Harlow — Tue, 29 Sep 2026 13:28:01 +0000

PLAINFIELD, ILL. — Entre Commercial Realty has brokered the sale of a 142,370-square-foot industrial facility in Plainfield. Situated on 20 acres, the freestanding property features 19 loading docks, two drive-in doors, approximately 11,000 square feet of office space, heavy power and eight private rail spurs. A local transportation company purchased the building with plans to utilize it as its new corporate headquarters. Mike DeSerto, Cory Kay and Elisabeth Lazzara of Entre represented the buyer, while Colliers represented the undisclosed seller.

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TEI Acquires Retail Property on Jeweler’s Row in Chicago for $3.9M

Kristin Harlow — Tue, 29 Sep 2026 13:27:33 +0000

CHICAGO — Time Equities Inc. (TEI) has acquired 33 South Wabash Avenue in Chicago for $3.9 million. Located in the heart of South Loop along historic Jeweler’s Row, the property offers 38 feet of frontage on Wabash Avenue at the base of a 360-unit luxury condominium building, which is also home to the School of the Art Institute of Chicago. Currently fully leased, the 7,400-square-foot, three-unit retail property is home to Goddess & the Baker, Reckless Records and Prasino. Ami Ziff and Jonathan Kim represented TEI on an internal basis. Mitchell Kiven of Marcus & Millichap represented the seller, Newcastle Investors.

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Transwestern Investments Acquires 408,176 SF Industrial Facility in Chicago’s I-88 Corridor

Kristin Harlow — Mon, 28 Sep 2026 13:28:09 +0000

NORTH AURORA, ILL. — Transwestern Investments has acquired a 408,176-square-foot industrial facility in Chicago’s I-88 Corridor on behalf of a separate account. Built in 2023 and located in North Aurora, the fully leased property features a cross-dock configuration, a clear height of 36 feet, 55 dock doors, four drive-in doors and dedicated car and trailer parking. Located 1.7 miles from I-88, the property provides connectivity to I-355, I-294 and the Chicago O’Hare International Airport. Transwestern Services has been retained to provide property management services.

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Fortec Converts Former Ambulance Facility into $5M Early Education Center in Metro Chicago

Kristin Harlow — Mon, 28 Sep 2026 13:25:54 +0000

VERNON HILLS, ILL. — Fortec has opened The Nest Schools-Vernon Hills. The $5 million project involved the acquisition and redevelopment of a former ambulance warehouse in Vernon Hills, a northern suburb of Chicago. The new early education center will serve up to 209 students and create 35 jobs in the Lake County community. Fortec acquired the property for $1.7 million in September 2025 and invested roughly $3 million in construction, along with $300,000 in closing and due diligence costs. The redevelopment involved a comprehensive interior reconfiguration designed specifically for childcare use. The school features 11 age-grouped classrooms, a new 11,834-square-foot outdoor playground featuring K-Play equipment and dedicated play surfaces for active learning and recreation. The project also included replacement of the building’s core systems, including new high-efficiency HVAC, electrical and irrigation systems, water-efficient plumbing and underground drainage upgrades. Safety enhancements involved a new fire alarm system and sprinkler system as well as upgraded access control security infrastructure. The project represents Fortec’s fourth collaboration with The Nest Schools, an early childhood education provider with more than 50 locations nationwide.

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Brand Street, AEW Buy 410,000 SF Deer Park Town Center in Metro Chicago for $125M

Kristin Harlow — Fri, 25 Sep 2026 13:12:50 +0000

DEER PARK, ILL. — Brand Street Properties and AEW Capital Management have acquired Deer Park Town Center, a 410,000-square-foot, open-air shopping center in Deer Park, about 35 miles northwest of downtown Chicago. Conor Lalor, Kyle Minter and Keely Polczynski of Newmark represented the seller, PGIM, with support from colleagues James Sharpe V and Brian Schneiderman. The sales price was $125 million. Deer Park Town Center is home to more than 60 tenants, including Apple, Crate & Barrel, Williams-Sonoma, Gap, Lululemon, Anthropologie and Sephora. Restaurants include Biaggi’s Ristorante Italiano, Sweetgreen, Stoney River, Ancho & Agave and California Pizza Kitchen. Built in 2000, the property is currently 85 percent leased. Brand Street will be responsible for the day-to-day management, operations and leasing of the center, with the intent of growing occupancy. Public gathering spaces will be reimagined to drive traffic and enhance customer experience.

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Oil-Dri Renews Office Lease at Chicago’s Wrigley Building for 20,000 SF

Kristin Harlow — Fri, 25 Sep 2026 13:10:19 +0000

CHICAGO — JLL represented Oil-Dri Corp. of America (NYSE: ODC) in a long-term lease renewal at the Wrigley Building, where the company has been headquartered since 1993. Oil-Dri will now relocate within the building to a newly built-out floor totaling 20,000 square feet. Oil-Dri was founded in Chicago in 1941 by Nick Jaffee and has grown from a local startup into a publicly traded consumer products company. Nicole Becker, Sarah Silva and Bess Cooney of JLL represented Oil-Dri in the lease. Erica Marshall and Katie Hull of Stream Realty Partners represented the landlord, Mansueto Properties. Global design firm Perkins&Will also recently renewed its lease at the property for 47,700 square feet through 2038. Holly Duran and Jeff Mulder of Colliers represented Perkins&Will.

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Newmark Arranges $95M Sale of Randhurst Village Shopping Center in Metro Chicago

Kristin Harlow — Thu, 24 Sep 2026 14:18:45 +0000

MOUNT PROSPECT, ILL. — Newmark has arranged the $95 million sale of Randhurst Village, a 931,798-square-foot power center in Mount Prospect. Conor Lalor and Keely Polczynski of Newmark represented the seller, DLC, with support from colleague Brian Schneiderman. The buyer was Rhino Investment Group. The transaction follows DLC’s execution of a comprehensive business plan to enhance the asset’s value, drive leasing activity and strengthen the property’s tenant mix. Situated on more than 94 acres at the intersection of Rand and Elmhurst roads, Randhurst Village is home to anchor tenants Costco, Jewel-Osco and The Home Depot. Additional tenants include TJ Maxx, HomeGoods, AMC Theatres, Skechers, Orangetheory Fitness and PetSmart. The property was originally redeveloped from the former Randhurst Mall. 3650 Capital and Aquarian Real Estate Partners (AREP) originated $72.3 million in financing for the acquisition. The financing included a $45.6 million senior loan arranged by AREP and a $26.7 million mezzanine loan from 3650 Capital. In addition to the acquisition, the financing includes future funding for the buyer to execute its value-add plan, including leasing up vacant spaces and pursuing outparcel sales. Anthony Longo of Alpha Capital CRE served as the capital advisor on the whole loan financing.

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Opus Begins Construction of 314,684 SF Spec Industrial Building in Joliet, Illinois

Kristin Harlow — Thu, 24 Sep 2026 14:17:53 +0000

JOLIET, ILL. — Opus has begun construction on Opus Intermodal at Joliet, a 314,684-square-foot speculative industrial building on 39 acres in Joliet. The project site is at the northeast corner of Patterson and West Laraway roads, directly across the street from Union Pacific’s Global IV intermodal terminal. Plans call for a clear height of 36 feet, 31 dock doors, two drive-in doors, 209 trailer stalls and 214 car parking spaces. The building can accommodate up to two users. Opus is the developer and design-builder, working with Ware Malcomb as architect. Matthew Stauber and Steve Ostrowski of Colliers are marketing the buildings for lease. A groundbreaking ceremony is scheduled for Thursday, Oct. 1. The building is slated for completion in June 2027.

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Lee & Associates Brokers $4.5M Land Sale for Industrial Development in Metro Chicago

Kristin Harlow — Wed, 23 Sep 2026 13:41:53 +0000

FRANKLIN PARK, ILL. — Lee & Associates of Illinois has brokered the $4.5 million sale of 4 acres at 11330 W. Melrose Ave. in Franklin Park. Jeff Provenza of Lee & Associates represented the buyer, Seefried Industrial Properties, which plans to develop an 81,670-square-foot building. Slated for completion in June 2027, the property will feature 32-foot ceilings, 14 exterior loading docks and visibility from I-294. Provenza and his team have also been retained for leasing. O’Brien Investment Group was the seller.

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