CHICAGO — Summit Design + Build has broken ground on a 42,000-square-foot addition to the Eli’s Cheesecake facility in Chicago. The industrial building currently spans 62,000 square feet. The addition marks the first expansion to the property since it was built in 1995. The expansion will include interior spaces for general bakery use, storage, bakery processing and a new mezzanine. Michael Aragona is the project architect.
CHICAGO — Summit Design + Build has broken ground on a 42,000-square-foot addition to the Eli’s Cheesecake facility in Chicago. The industrial building currently spans 62,000 square feet. The addition marks the first expansion to the property since it was built in 1995. The expansion will include interior spaces for general bakery use, storage, bakery processing and a new mezzanine level. Michael Aragona is the project architect.
BUFFALO GROVE, ILL. — Colliers has arranged the sale of a 226,384-square-foot flex industrial property in the Chicago suburb of Buffalo Grove for an undisclosed price. Constructed in 1985, the building features 90,000 square feet of office space and parking for 600 cars as well as an attached manufacturing facility with a clear height of 21 feet, five interior docks and three exterior docks. Siemens has occupied the property since 1987 and utilizes the space for its U.S. engineering headquarters, which employs more than 800 engineers and manufacturing workers. Jeff Devine and Steve Disse of Colliers represented the seller, a private investor. Lightstone was the buyer.
PERU, ILL. — Associated Bank has provided a $6 million loan for the construction of Diamond Senior Apartments of Peru. The 56-unit seniors housing community will be located at 927 Wenzel Road in Peru, which is situated in North Central Illinois. Developed by 3 Diamond Development, the project will comprise 10 single-story buildings. All units will be restricted to low-income seniors age 55 and older. Twelve of the units will be restricted to residents earning less than 30 percent of the area median income (AMI), while the remaining 44 units will be reserved for those who earn up to 60 percent of AMI. The development will also feature a separate building with an exercise room and community room. Teresa Rubio of Associated Community Development LLC managed the loan and closing.
BUFFALO GROVE, ILL. — Colliers has arranged the sale of a 226,384-square-foot flex industrial property in the Chicago suburb of Buffalo Grove for an undisclosed price. Constructed in 1985, the building features 90,000 square feet of office space and parking for 600 cars as well as an attached manufacturing facility with a clear height of 21 feet, five interior docks and three exterior docks. Siemens has occupied the property since 1987 and utilizes the space for its U.S. engineering headquarters, which employs more than 800 engineers and manufacturing workers. Jeff Devine and Steve Disse of Colliers represented the seller, a private investor. Lightstone was the buyer.
PERU, ILL. — Associated Bank has provided a $6 million loan for the construction of Diamond Senior Apartments of Peru. The 56-unit seniors housing community will be located at 927 Wenzel Road in Peru, which is situated in North Central Illinois. Developed by 3 Diamond Development, the project will comprise 10 single-story buildings. All units will be restricted to low-income seniors age 55 and older. Twelve of the units will be restricted to residents earning less than 30 percent of the area median income (AMI), while the remaining 44 units will be reserved for those who earn up to 60 percent of AMI. The development will also feature a separate building with an exercise room and community room. Teresa Rubio of Associated Community Development LLC managed the loan and closing.
CHICAGO AND WILMETTE, ILL. — Westport Properties has acquired two self-storage facilities in Chicagoland for an undisclosed price. The first property, located at 1516 N. Orleans Ave. in Chicago, totals 885 units and features wine storage, climate-controlled units, electronic gated access and 24-hour surveillance. The second asset, a 378-unit facility located at 3510 Wilmette Ave. in Wilmette, features RV and boat parking, climate-controlled units, electronic gated access and 24-hour surveillance. Westport will rebrand the properties under the US Storage Centers brand. The facilities mark Westport’s first two properties in Illinois. MJ Partners Self Storage Group represented the undisclosed seller.
NAPERVILLE, ILL. — A joint venture between Clear Height Properties and Harbert US Real Estate, an investment fund sponsored by Harbert Management Corp., has purchased a 49,954-square-foot industrial building in the Chicago suburb of Naperville. The property, located at 2244 Corporate Lane, is fully occupied by two tenants. The building features a clear height of 20 feet and 10 drive-in doors. Adam Johnson and Tom Gnadt of NAI Hiffman represented the buyers. The seller and sales price were undisclosed.
CRYSTAL LAKE, ILL. — Greenstone Partners has arranged the $3 million sale of a nearly 12,000-square-foot retail property in the Chicago suburb of Crystal Lake. The building, located at 5899 Northwest Highway, is 77 percent occupied with two vacant units. Jason St. John and AJ Patel of Greenstone represented the seller, a local, private partnership. The duo also procured the buyer, a private partnership completing a 1031 exchange.
SCHAUMBURG, ILL. — SparrowHawk has negotiated new leases with tenants totaling 32,101 square feet at its industrial property located along National Parkway in Schaumburg. The 147,752-square-foot property is now 95.5 percent leased with one remaining space available for immediate occupancy. Italy-based TECH.PA signed a lease for 9,094 square feet for its first industrial showroom and warehouse space in Chicago and the U.S. The company, which specializes in the field of industrial automation and robotics, will take occupancy this month. Kelly Joyce of Colliers represented SparrowHawk in the lease and serves as the leasing agent for the property. John Hunter of John Hunter Services represented the tenant. Adaptive Adventures leased and moved into 3,355 square feet of space. The nonprofit organization provides outdoor sports opportunities to improve the quality of life for children, adults and veterans with physical disabilities. Jarvis Lighting renewed and expanded its lease to 19,652 square feet. The commercial lighting manufacturer and distributor previously occupied 10,552 square feet.