SCHAUMBURG, ILL. — Lee & Associates has brokered the sale of a 1.7-acre retail pad site located at 40 S. Roselle Road in the Chicago suburb of Schaumburg. The sales price was undisclosed. The transaction marks the final undeveloped site in the Town Square development. Rick Scardino of Lee & Associates represented the seller, the Village of Schaumburg. Simeon Spirrison of Adelphia Properties represented the buyer, SD Construct. The buyer plans to build a two-story, 6,342-square-foot HopScotch pub-themed restaurant.
BROADVIEW, ILL. — Arrow Pneumatics Inc. has signed a renewal for its industrial lease at 2101 W. 21st St. in Broadview, a western suburb of Chicago. The tenant, which manufactures and distributes air preparation products, occupies the entire 43,175-square-foot building. Constructed in 1973, the property features 78 parking spaces and offers convenient access to I-290, I-294 and I-55. Mandy Lewandowski of DarwinPW Realty/CORFAC International represented the owners, Welbic III Broadview 21 LLC and Speedwagon Capital Partners. The tenant was self-represented.
NORMAL, ILL. — AXIS 360 Commercial Real Estate Specialists has arranged the $1.1 million sale of a 19,840-square-foot office building in Normal, just north of Bloomington. The two-story property at 1606 Hunt Drive formerly served as the home of Marcfirst, a nonprofit organization that serves to improve the lives of individuals with disabilities. Michael O’Neal and Meghan O’Neal-Rogozinski of AXIS 360 represented the seller, Marcfirst, which outgrew the building and vacated it earlier this year. O’Neal-Rogozinski represented the undisclosed buyer, which plans to fully remodel the building.
GLEN ELLYN, ILL. — Holladay Properties has broken ground on Glenwood Station, a $35 million luxury apartment community in the western Chicago suburb of Glen Ellyn. The development will include 86 units in a variety of studio, one-bedroom and two-bedroom layouts. Amenities will include a clubhouse, fitness center, electric vehicle charging stations and secure heated parking. There will also be 1,500 square feet of retail space. Completion is slated for 2025. Glenwood Station marks the fourth luxury apartment complex in Chicagoland for Holladay Properties. Holladay Construction Group is the general contractor, and Tandem Architecture designed the project. Wintrust Bank & Trust provided financing.
CHICAGO — Marcus & Millichap has brokered the sale of Kedzie Plaza in Chicago for $5.2 million. The 73,876-square-foot retail property is located at 4725 S. Kedzie Ave. Tenants include Dunkin’, Metro by T-Mobile, Subway, Domino’s and Sally Beauty. Adrian Mendoza, Austin Weisenbeck and Sean Sharko of Marcus & Millichap represented the buyer, a local private investor. Seller information was not provided.
PERU, ILL. — Cawley Chicago has arranged the sale of a 52-acre truck terminal property in Peru, a city in Central Illinois. The sales price was undisclosed. Located at 5005 Plank Road, the property consists of 27 acres of heavy-duty parking, a terminal building with 146 docks, 10,000 square feet of office space and a 9,600-square-foot mechanic’s shop with six drive-through bays. Originally developed by Consolidated Freight, the asset has been in continuous operation by various less-than-truckload (LTL) companies. LTL is a ground transportation method that consolidates multiple shippers’ freight onto single semi-trucks. Jon Chamlin, Joshua Hearne and Reinier Pranger of Cawley Chicago brokered the sale, further details of which were not provided.
CHICAGO — SVN Chicago Commercial has negotiated the sale of the former MK restaurant property in Chicago’s River North neighborhood for $2.6 million. The buyer plans to redevelop the 9,600-square-foot building, which is located at 868 N. Franklin St. Marcus Cook of SVN Chicago represented the buyer, while colleagues Wayne Caplan and Michael Elam represented the seller, a Los Angeles-based investment firm.
CHICAGO — Skender has completed an expansive renovation project at THE MART office building in Chicago. Owner Vornado Realty Trust coined the repositioning initiative as “Evolution of an Icon.” Skender made improvements to four key areas of the building’s second floor: a 29,000-square-foot circulation area, 21,000-square-foot conference center, 23,000-square-foot fitness center and 2,000-square-foot private tenant lounge. In the circulation area, Skender added new Terrazzo flooring and new lounge seating sourced from design showrooms at THE MART. The new conference center is comprised of 15 meeting rooms that accommodate up to 300 people. The area also features a workspace with phone booths, lounge seating, a pantry and satellite service area. The fitness center features a golf simulator, locker rooms, infrared saunas, a cycle room and mind-body room. Overlooking the river is the new tenant-exclusive, speakeasy-inspired lounge with a bar. Gensler was the architect and IMEG Corp. was the engineer.
CHICAGO — Interra Realty has brokered the sale of a 16-unit multifamily property in Chicago’s Logan Square neighborhood for $6.1 million. Located at 2543 N. California Ave., the building was constructed in 1902 and renovated in 2018. There are eight two-bedroom units, five three-bedroom units, one four-bedroom layout and two commercial spaces. Starbucks has been a long-term tenant in one of the commercial spaces. Brad Feldman of Interra represented the seller, Chicago-based Barnett Capital Ltd. Feldman also represented the local private buyer.
ILLINOIS AND WISCONSIN — BWE has arranged a $5.2 million acquisition loan for a three-property industrial portfolio in Illinois and Wisconsin. Likewise Partners acquired the portfolio. Christopher Carroll and Max Miller of BWE arranged the loan through a Minnesota-based credit union. The three infill properties are located in Menomonee Falls, Wis., Appleton Wis.; and Machesney Park, Ill. The portfolio totals 79,152 square feet and is fully leased, with 92 percent of the space occupied by the Engman-Taylor Co., an industrial distributor.