BOLINGBROOK, ILL. — In a sale-leaseback transaction, Clear Height Properties has acquired a 77,299-square-foot industrial building in the Chicago suburb of Bolingbrook for an undisclosed price. DYWIDAG Systems International USA Inc., a construction and infrastructure technology firm, was the seller. The building at 320 Marmon Drive serves as the company’s North American headquarters. DYWIDAG has occupied the facility since the 1980s.
GENEVA, ILL. — Hillwood has broken ground on Fox Valley Commerce Center, a four-building industrial development totaling nearly 1.1 million square feet in Geneva, a western suburb of Chicago. The project will be built in phases. Phase I will include two speculative buildings spanning 266,760 square feet and 272,160 square feet. Phase II plans call for a build-to-suit of up to 500,000 square feet. Completion of Phase I is slated for late 2023. Harris Architects Inc. is the project architect and FCL Builders is the general contractor. Nick Eboli, Jeff Janda and Andrew Block of Lee & Associates will market the project for lease.
CHICAGO — Law firm Nisen & Elliott LLC is relocating its Chicago office from 200 W. Adams St. to a 15,417-square-foot space at 180 N. LaSalle St. The firm will take occupancy of the new space in November. The lease represents the firm’s first relocation in over 35 years. Eric Feinberg, John Goodman and Isabel Preskill of Savills represented Nisen & Elliott. The property rises 38 stories in the Loop. Building owner Ivanhoe Cambridge has recently made upgrades to the lobby and conferencing facilities.
CHICAGO — Mansueto Office Inc. is reimagining the 100-year-old building at 2300 N. Lincoln Park West in Chicago into a luxury apartment community. Named the Belden-Stratford, the renovated 16-story property will be home to 209 units with floor plans that range from studios to three-bedroom penthouses. Pre-leasing is underway, with first move-ins anticipated in winter 2023. Amenities will include onsite restaurant Mon Ami Gabi, a rooftop deck, fitness center, yoga studio, pet spa, wine storage, resident lounge, Luxer package service and valet and concierge services. The building first opened in 1923 as a hotel. Solomon Cordwell Buenz is the project architect, Vinci Hamp Architects Inc. is the historic architect, Bulley & Andrews is the general contractor and Waterton is the property manager.
ROSEMONT, ILL. — Colliers has brokered the $13 million sale of Rosemont Corporate Center in the Chicago suburb of Rosemont. Jon Connor and Francis Prock of Colliers represented the seller, KORE Investments. The Village of Rosemont purchased the 121,000-square-foot office building with plans to renovate it before moving municipal employees to the property in 2023. KORE acquired the building in 2021 from the original developer, Ryan Cos., for $6.5 million. Mark Offit of Braden Real Estate represented the Village of Rosemont.
CHICAGO — CBRE has negotiated the sale of a 14,378-square-foot development site at 863 N. Orleans St. in Chicago’s River North neighborhood for $4.2 million. Tom Svoboda of CBRE represented the seller, BlitzLake. The buyer, Draper and Kramer Inc., plans to build a multifamily project at the transit-oriented development site.
CHICAGO — Kiser Group has arranged the sale of an 18-unit multifamily property at 7224 N. Rockwell St. in Chicago’s Rogers Park neighborhood for $2.7 million. The property has been partially renovated and houses four dorm units for the Hebrew Theological College. The building comprises a mix of one-, two- and three-bedroom units. Danny Logarakis of Kiser brokered the sale. The buyer, a local investor, also recently purchased another building nearby with 40 units.
MELROSE PARK, ILL. — McShane Construction Co. has completed a three-building speculative industrial development in suburban Chicago known as Industry Center at Melrose Park. The project totals 651,617 square feet. McShane also completed three interior buildouts for a transportation, trucking and railroad company, as well as a logistics and package delivery company and a portable storage and moving firm. Each of the buildings features a clear height of 36 feet. LBA Logistics was the developer and Harris Architects served as architect.
WAUCONDA, ILL. — Mid-America Real Estate Corp. has arranged the sale of Liberty Square in the Chicago suburb of Wauconda for an undisclosed price. Anchored by Jewel-Osco, the 107,431-square-foot shopping center is 97 percent leased. Other tenants include Pet Supplies Plus, USPS, Athletico, Subway, Great Clips and T-Mobile. Ben Wineman of Mid-America represented the seller, Maryland-based Broad Reach Retail Partners LLC. Connecticut-based AmCap purchased the asset.
OAK LAWN, ILL. — Greenstone Partners has arranged the $2.6 million sale of a retail development site in the Chicago suburb of Oak Lawn. The site comprises a vacant restaurant that was formerly home to Texas Corral. The buyer plans to demolish the restaurant and build a new retail development. Located at 6616 W. 95th St., the property is situated across the street from Chicago Ridge Mall. Brewster Hague and AJ Patel of Greenstone brokered the transaction. Buyer and seller information was not provided. The deal marks the highest land price per acre in Oak Lawn, according to Greenstone.
