Illinois

BATAVIA, ILL. AND JACKSONVILLE, FLA. — German discount grocer Aldi has entered into a definitive agreement to acquire Winn-Dixie and Harveys Supermarket as part of a larger divestiture of Jacksonville-based parent company Southeastern Grocers to various entities. Financial terms of the transaction were not disclosed. The Southeast-focused acquisition includes approximately 400 Winn-Dixie and Harveys locations across Alabama, Florida, Georgia, Louisiana and Mississippi. Aldi, which maintains its U.S. headquarters in Batavia, Ill., first established its presence in the Southeast in the mid-1990s and has since invested $2.5 billion in the region. Most recently, Aldi opened its 26th regional headquarters and distribution center in Loxley, Ala., to help support new stores in the region. The retailer plans to open 20 new locations in the area by the end of the year. Jason Hart, CEO of Aldi, says the acquisition supports Aldi’s long-term growth strategy across the country. The grocer plans to open 120 new stores this year to reach a total of more than 2,400 stores by year’s end. Aldi will evaluate which Winn-Dixie and Harveys locations will be converted into Aldi stores. The stores that are not converted will continue to operate under the Winn-Dixie and Harveys brands. Deutsche Bank served …

FacebookTwitterLinkedinEmail

CHICAGO — Luxury Living has begun leasing efforts for The Medallion, a newly redeveloped boutique apartment building in Chicago’s Lakeview neighborhood. JSM Venture owns the property, which is located at 3121 N. Broadway St. JSM Venture implemented a two-story addition and rooftop deck on top of a five-story parking garage. The building now features 72 apartment units. The property is also home to Intelligentsia Coffee. Monthly rents start at $1,875 for studios and $2,195 for one-bedroom floor plans. Select units are available in accordance with the City of Chicago’s Affordable Requirements Ordinance.

FacebookTwitterLinkedinEmail

ROUND LAKE, ILL. — Lee & Associates has brokered the $1.5 million sale of an 18,600-square-foot retail center in Round Lake, a far north suburb of Chicago. The renovated property, located across from Round Lake METRA station, is fully occupied by five tenants, including a banquet hall, barber shop, café, toddler indoor playground and martial arts studio. Rick Scardino of Lee & Associates represented the buyer, La Luz Bakery. Tyler Dechter of Baum Realty represented the seller, Mon Ami Realty LLC.

FacebookTwitterLinkedinEmail

CHICAGO — McHugh Construction has topped off 1000M, a 73-story luxury apartment tower located at 1000 S. Michigan Ave. in Chicago’s Grant Park. McHugh Concrete poured the final concrete floor and completed the roof this month. Upon completion in 2024, 1000M will be one of the city’s tallest apartment buildings. The next phase of construction includes managing the glass façade installation and interior build-out. Apartments will be delivered in phases throughout 2024. There will be 738 units, ranging in size from studios to four-bedroom penthouses. Residents will have access to more than 80,000 square feet of indoor and outdoor amenity spaces, including Chicago’s highest rooftop observation deck to be located on the 73rd floor. Time Equities Inc., JK Equities and Oak Capitals are the developers, and the late Helmut Jahn designed the property. Chicago-based interior designer Kara Mann designed the unit and amenity area interiors. Cullen Construction Management is the owner’s representative.

FacebookTwitterLinkedinEmail

CHICAGO — Wells Fargo’s Multifamily Capital group has arranged $145 million in construction take-out financing for Porte Apartments, a 586-unit apartment complex in Chicago’s West Loop. Intercontinental Real Estate Corp. was the borrower. The five-year loan features a fixed interest rate. Situated at 845 W. Madison St., Porte Apartments was built in 2020. Units range from 557 to 1,396 square feet. Amenities include a pool, resident lounge, fitness center, work-from-home stations, dog wash areas and private gaming areas. Ten percent of the units are designated as affordable and are set aside for residents making less than 60 percent of the area median income.

FacebookTwitterLinkedinEmail

CHICAGO — Global financial services firm Raymond James has signed an office lease for nearly two full floors at 120 South Riverside Plaza in Chicago’s West Loop. Ivanhoé Cambridge owns the building, and Hines is the property manager. Raymond James will relocate its regional office operations to the building, which is part of a two-building office complex totaling 1.4 million square feet, in April 2024. Floor plates at the property average 37,000 square feet. Both buildings are currently being repositioned, completion of which is slated for next summer. Renovations include expanded lobbies, a tenant lounge, private outdoor areas and enhanced indoor and outdoor exercise options such as a personal training offering and a pickleball court. The public plazas overlooking the river area also being repositioned with new seating areas and landscaping. Todd Brandon, Steve Schneider, Chip Evans and Presley Norby of Cushman & Wakefield represented Raymond James in the lease. Kelsey Scheive and Kelsey Morgan of CBRE represented ownership.

FacebookTwitterLinkedinEmail

CHICAGO — Bradford Allen Investment Advisors has acquired The Henry, a multifamily and retail building located at 4346 N. Honore St. in Chicago’s Ravenswood neighborhood. The purchase price was undisclosed. The five-story building, completed in 2019, features 38 apartment units and one retail space occupied by Culver’s. At the time of sale, the property was 97 percent occupied. Rents range from $1,751 to $3,000 per month. John Butler and Danielle Morse represented Bradford Allen on an internal basis. Tyler Hague and Lauren Stoliar of Colliers represented the undisclosed seller.

FacebookTwitterLinkedinEmail

WARSAW, ILL. — Marcus & Millichap has brokered the $1.1 million sale of a 7,489-square-foot retail property occupied by Dollar General in Warsaw, a city in western Illinois along the Mississippi River. The net-leased property is located at 511 Main St. Dustin Javitch, Craig Fuller, Erin Patton and Scott Wiles of Marcus & Millichap represented the seller, a limited liability company. Edward Nelson and Jake Parker of Marcus & Millichap secured and represented the buyer, an individual trust completing a 1031 exchange.

FacebookTwitterLinkedinEmail

CHICAGO — Greystar Real Estate Partners LLC has opened One Six Six, a 223-unit luxury apartment building rising 21 stories in Chicago’s Fulton Market district. The developer is hosting a grand opening celebration Thursday, Aug. 10 with local businesses such as Goddess and the Grocer, Levain Bakery, Pour Souls Cocktail Club, Dipsy Desserts and Tucker Pups. Local band The Holy Cows will provide live music and entertainment. Located at 166 N. Aberdeen St., One Six Six features studio, one- and two-bedroom floor plans along with three-bedroom penthouses. The building features a third-floor amenity level with an indoor private dining room, coworking space, entertainment lounge and fitness center. The 5,650-square-foot outdoor area includes a pool and spa, outdoor kitchen, lounge areas and a dog agility course. The 14th-floor sky garden features an outdoor lounge with a beverage station and views of the city. Monthly rents start at $2,040. Residents can now earn up to two months of free rent, according to the property’s website. The property has earned two Green Globes, part of a certification system developed by the Green Building Initiative that evaluates environmental sustainability, health and wellness and resilience of all types of commercial real estate.

FacebookTwitterLinkedinEmail

SCHAUMBURG, ILL. — Glenstar Properties has executed 12 office leases totaling 154,000 square feet at its Schaumburg Corporate Center in the Chicago suburb of Schaumburg. The lease signings include 89,000 square feet of new leases and 65,000 square feet of renewals. Schaumburg Corporate Center is a three-building office complex totaling 1 million square feet. Among the leases was global banking firm Citigroup’s new lease for 49,400 square feet across two floors. Citigroup will relocate from its current Northwest suburban office location in January. Additionally, an unnamed data analytics company signed a lease for 24,700 square feet and will relocate its 125 employees in November. The 10 additional lease signings were for spaces ranging in size from 834 to 27,000 square feet. Bill Saviski and Christian Domin of Glenstar represented ownership in the lease with Citigroup, while Gary Fazzio and James Otto of CBRE represented the tenant. On the lease with the data analytics company, Saviski represented ownership, while Fazzio and colleague Paul Diederich represented the tenant. About 76 businesses are located at Schaumburg Corporate Center. Some of the larger tenants include Misumi USA, American Agricultural Insurance Co., Pronto Finance and Munich RE Specialty Group NA Inc. Glenstar completed a $30 …

FacebookTwitterLinkedinEmail