LIBERTYVILLE, ILL. — Marcus & Millichap has brokered the nearly $3 million sale of The Shops of Northwind, a 20,416-square-foot retail strip center in the Chicago suburb of Libertyville. The four-suite property at 1745 Northwind Blvd. is fully occupied. Brian Parmacek of Marcus & Millichap represented the seller, EMPSAFE LLC. The asset sold at 95 percent of the list price.
NORTH CHICAGO, ILL. — AbbVie (NYSE: ABBV) has unveiled a $195 million investment to expand its North Chicago manufacturing plant to include domestic active pharmaceutical ingredient (API) production. The expansion is part of AbbVie’s previously announced commitment to invest more than $10 billion of capital in the U.S. to support innovation and expand critical manufacturing capabilities and capacity. API manufacturing involves producing the active components responsible for the therapeutic effects of medications. The new North Chicago API facility will expand AbbVie’s chemical synthesis capabilities in the U.S., supporting domestic production of current and next-generation neuroscience, immunology and oncology medicines. Construction of the new facility is slated to begin this fall, with the site projected to be fully operational in 2027. The project will expand AbbVie’s existing U.S. manufacturing footprint, which supports more than 6,000 American jobs across 11 manufacturing sites and thousands of additional jobs at suppliers around the U.S. AbbVie is headquartered in North Chicago and employs more than 11,000 people in the state that work to develop and manufacture medicines for patients worldwide.
PLAINFIELD, ILL. — Quantum Real Estate Advisors Inc. has brokered the $9 million sale of a 55,073-square-foot retail center in Plainfield within metro Chicago. Located at 12337 S. Route 59, the property was 97 percent leased at the time of sale to tenants such as Enterprise, One Main Financials, Chop’d and Khaos Brewcade and Kitchen. Brett Berlin of Quantum brokered the transaction. A private investor based in Illinois purchased the asset from a local family development company based in Chicago’s western suburbs.
ADDISON, ILL. — Brennan Investment Group has acquired a 97,568-square-foot industrial building in the Chicago suburb of Addison. Located near the I-355 expressway in the Northern DuPage submarket, the property features convenient access to the O’Hare International Airport as well as the Chicago central business district. The transaction marks the fifth acquisition within Brennan’s inaugural Opportunity Fund, which primarily focuses on the user-owned market.
CINCINNATI AND CHICAGO — First Financial Bancorp. (Nasdaq: FFBC) has agreed to acquire BankFinancial Corp. (Nasdaq: BFIN) in an all-stock transaction valued at approximately $142 million. Upon completion of the transaction, BankFinancial’s consumer, trust/wealth management and selected commercial credit lines of business will be incorporated into First Financial’s respective business lines, and all BankFinancial bank employees will become First Financial associates. The merger agreement has been unanimously approved by the boards of directors of both companies. The deal is expected to close in the fourth quarter, subject to customary closing conditions, regulatory approvals and approval of BankFinancial shareholders. As of June 30, Cincinnati-based First Financial Bancorp. had $18.6 billion in assets, $11.8 billion in loans, $14.4 billion in deposits and $2.6 billion in shareholders’ equity. The company’s subsidiary, First Financial Bank, founded in 1863, provides banking and financial services to businesses and consumers. The company operated 128 full-service banking centers in Ohio, Indiana, Kentucky and Illinois as of June 30. Chicago-based BankFinancial is a commercial lender with 18 full-service banking offices located in Cook, DuPage, Lake and Will counties within Illinois. BankFinancial NA operates as a subsidiary of BankFinancial Corp.
CHICAGO — Developer Vista Property and general contractor Skender have broken ground on a 32-story apartment tower at 370 N. Morgan St. in Chicago’s Fulton Market neighborhood. Designed by Antunovich Associates, the 539,000-square-foot property will feature 494 units, including 99 affordable housing units. Floor plans will range from studios to two bedrooms. A residential lobby, leasing offices and 4,500 square feet of retail space will make up the ground floor. A parking podium with 192 spaces, 20 percent of which will have electric vehicle charging capabilities, will extend from floors two to four. The exterior aesthetic is inspired by a modern Mies van der Rohe design. Outdoor amenities will include a 30th-floor pool deck, yoga terrace, fire pits and outdoor grill kitchens. Inside, residents will have access to a fitness center, coworking areas, a lounge, private event and dining rooms, a golf simulator and various common areas. A new landscaped plaza will front the intersection of Kinzie and Morgan streets. In late 2024, demolition on the site began with the removal of the old single-story Fox Deluxe Foods building. The apartment tower is slated for completion in the second quarter of 2027. The project team includes DeSimone as the structural …
GLENVIEW, ILL. — Bottling Group LLC, operating as Pepsi Beverages Co., a division of PepsiCo. Inc., has leased Building 10 at The Logistics Campus in suburban Chicago’s Glenview. The lease for the 351,520-square-foot build-to-suit facility commences in February. Dermody is the property owner. Bottling Group LLC manufactures, distributes and sells a portfolio of nonalcoholic beverages, including soft drinks, bottled water, energy drinks and fruit juices. Site work for Building 10 is underway with delivery planned for the first quarter of 2026. Colliers represented Dermody, and Cresa represented Pepsi in the lease. The Logistics Campus is a master-planned, 10-building campus totaling 3.2 million square feet. Dermody recently completed construction on Phase 1, which consists of more than 1.2 million square feet across five buildings.
CHICAGO — The Boulder Group has arranged the $3.3 million sale of a single-tenant, net-leased Chick-fil-A property at 11301 S. Corliss Ave. in Chicago. The newly constructed building, which features a drive-thru, is operating under a 15-year ground lease with 10 percent rental escalations every five years and eight five-year renewal options. The property is positioned directly west of I-94 and at the southeast corner of the newly revitalized Pullman Park development. Randy Blankstein and Jimmy Goodman of Boulder Group represented the seller, a real estate developer in Chicago. The buyer was a local private investor. Today, there are nearly 3,000 Chick-fil-A locations across 48 states, Canada and Puerto Rico.
SKOKIE, ILL. — A joint venture between Wingspan Development Group and Tucker Development has delivered the first rental townhomes at The Henry at Harms Woods, a 294-unit multifamily property in Skokie. Located next to Life Time Fitness and near Westfield Old Orchard mall just west of I-94, the 11-acre development will include 245 apartment units, 49 rental townhomes and approximately 13,000 square feet of commercial space. First move-ins for the townhomes start this month, with the balance slated for this fall. Designed by HKM Architects + Planners and built by Nicholas & Associates, The Henry at Harms Woods will offer studio, one-, two- and three-bedroom luxury apartment units and three- and four-bedroom townhomes. The four-bedroom Maple and Oak floor plans, which span approximately 2,500 square feet, start at $6,800 per month. Amenities include expansive courtyards, an outdoor pool, fitness center and work-from-home stations.
VERNON HILLS, ILL. — The Nicholas Family of Cos. has acquired Glacier Ice Arena, a 63,000-square-foot indoor ice arena with two NHL-regulation rinks in the Chicago suburb of Vernon Hills. Nicholas will own and manage the hockey and ice skating rink and will commence large-scale renovations later this year. Nicholas Family’s portfolio of ice rink facilities includes Mount Prospect Ice Arena at Nicholas Sportsplex in Mount Prospect; Rosemont Ice Arena, which is set to open this month in Rosemont; and Elk Grove Ice Arena, which is scheduled to begin construction this month. All will be operated by the company’s internal sports and recreation firm Spectate Group. Glacier Ice Arena is affiliated with Ice Dogs Hockey Club and serves as the primary venue for the Ice Dogs Hockey Association, which is home to roughly 15 teams. There is potential for Nicholas Family’s integrated hospitality company, Big Fish Hospitality Group, to be incorporated into future phases of planning following the acquisition. Glacier currently has 10 locker rooms, study rooms, party and meeting rooms, a snack bar and video game room.
