OAK BROOK, ILL. — Skender has broken ground on the transformation of the former McDonald’s corporate campus in the Chicago suburb of Oak Brook. The 250,000-square-foot buildout will serve as the new headquarters of Ace Hardware. The project at 2915 Jorie Blvd. will consist of open workstations, 150 conference rooms, 12 cafes and a variety of collaboration spaces and amenities. Originally built in the 1970s and designed by Dirk Lohan, grandson of famed architect Mies van der Rohe, the campus consists of three buildings on more than 80 acres. The campus has sat empty since 2019, when the fast food giant moved its headquarters to Chicago’s Fulton Market. The renovation project will reuse and retain many of the main building’s original architectural elements, including a large atrium in the center. The first floor of the parking garage will be converted into an amenity suite that includes a fitness center, conference center, multi-purpose room and large cafeteria. Completion is slated for mid-to-late 2023. In addition to Skender, the project team includes CBRE Design Collective as architect and Environmental Systems Design Inc. as engineer.
Illinois
CHICAGO — Kiser Group has negotiated the sale of a 155-unit luxury apartment property in Chicago’s Andersonville neighborhood for $53.5 million. Named Anderson Point, the property located at 5700 N. Ashland Ave. is the adaptive reuse of the Edgewater Medical Center. The seller, MCZ Edgewater Development LLC, transformed the former hospital into a luxury apartment community. Amenities include indoor parking, in-unit laundry, a fitness center, roof deck, golf simulator, tenant lounges and private workspaces. Lee Kiser, Katie LeGrand and Jacob Price of Kiser brokered the transaction. The buyer, Lake Street Lofts LLC, completed a 1031 exchange.
ST. CHARLES, ILL. — Cushman & Wakefield has brokered the sale of River Glen of St. Charles, located within the former Delnor Hospital, which was built in St. Charles in 1939. Located approximately 35 miles west of Chicago, the senior living community features 106 units of independent living, assisted living and memory care. The original hospital building has been converted into a modern, well-amenitized campus. Bridge Investment Group sold the asset to Citrine Senior Communities, a joint venture between affiliates of Citrine Investment Group and Jaybird Capital, for $20 million. Jaybird Senior Living will take over operations. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Tim Hosmer and Jack Griffin arranged the transaction.
HOFFMAN ESTATES, ILL. — Belle Tire Distributors has purchased a 1.7-acre lot in the Chicago suburb of Hoffman Estates for $1 million. Rick Scardino of Lee & Associates represented the seller, Prairie Point Center Development LLC c/o Conor Commercial. Dave Chopp of DRC Realty represented Belle Tire.
CHICAGO — Kiser Group has negotiated the sale of a 155-unit luxury apartment property in Chicago’s Andersonville neighborhood for $53.5 million. Named Anderson Point, the property located at 5700 N. Ashland Ave. is the adaptive reuse of the Edgewater Medical Center. The seller, MCZ Edgewater Development LLC, transformed the former hospital into a luxury apartment community. Amenities include indoor parking, in-unit laundry, a fitness center, roof deck, golf simulator, tenant lounges and private workspaces. Lee Kiser, Katie LeGrand and Jacob Price of Kiser brokered the transaction. The buyer, Lake Street Lofts LLC, completed a 1031 exchange.
ST. CHARLES, ILL. — Cushman & Wakefield has brokered the sale of River Glen of St. Charles, located within the former Delnor Hospital, which was built in St. Charles in 1939. Located approximately 35 miles west of Chicago, the senior living community features 106 units of independent living, assisted living and memory care. The original hospital building has been converted into a modern, well-amenitized campus. Bridge Investment Group sold the asset to Citrine Senior Communities, a joint venture between affiliates of Citrine Investment Group and Jaybird Capital, for $20 million. Jaybird Senior Living will take over operations. Cushman & Wakefield’s Rick Swartz, Jay Wagner, Aaron Rosenzweig, Tim Hosmer and Jack Griffin arranged the transaction.
HOFFMAN ESTATES, ILL. — Belle Tire Distributors has purchased a 1.7-acre lot in the Chicago suburb of Hoffman Estates for $1 million. Rick Scardino of Lee & Associates represented the seller, Prairie Point Center Development LLC c/o Conor Commercial. Dave Chopp of DRC Realty represented Belle Tire.
GLEN CARBON, ILL. — The Goodwill store in Glen Carbon, about 14 miles northeast of St. Louis, has reopened following months of renovations. The store at 210 Junction Drive has been reconfigured from 12,500 square feet of retail space and 3,000 square feet of backend space to 10,000 square feet of retail space and 4,850 square feet of backend space. The expanded backend space will help with the increase in donations the store has received. Additional renovations to the exterior will be made this spring. An entirely new donation reception area will be built with the addition of two new docks and enhanced accessibility, as the drop-off area will no longer require the use of stairs.
CHICAGO — BearingPoint, an independent management and technology consultancy firm, has signed a 12,000-square-foot office lease at The Mart located at 222 Merchandise Mart Plaza in Chicago’s River North. BearingPoint is headquartered in Europe and has invested heavily in its international expansion, including Chicago, which doubles as the firm’s U.S. hub. BearingPoint moved its Chicago office from another location in River North. The new office consists of individual workstations, a large café and lounge, two conference rooms, private work areas and multiple collaboration areas. Connor Kerr and Stephen Scott of Savills represented BearingPoint. Vornado Realty Trust owns The Mart, which rises 25 stories and is undergoing a $60 million renovation. Plans call for a new 27,000-square-foot amenity space and conference center, a second 23,500-square-foot gym and a lounge. Completion is slated for late 2023.
CHICAGO — Trammell Crow Co. and Beacon Capital Partners have broken ground on Hyde Park Labs in Chicago’s Hyde Park neighborhood. The project will feature 302,388 square feet of lab and office space as well as ground-floor retail and community space. Completion is slated for late 2024. Project costs are estimated at $225 million, according to Crain’s Chicago Business. The University of Chicago has pre-leased one-and-a-half floors of the building totaling 55,000 square feet, a portion of which will house researchers from the Pritzker School of Molecular Engineering. Space will also be used to develop an incubator program to support startup companies focused on the life sciences. Hyde Park Labs will rise 14 stories. The project marks the second phase of development at Harper Court, which currently features a hotel, office building housing many UChicago administrative offices and retail space. Tenants of Hyde Park Labs will have access to nearly 40,000 square feet of amenities, including a fifth-floor terrace dubbed “The Lawn.” The project team includes Elkus Manfredi Architects, Interactive Design Architects, Power Construction, Ujamaa and Trinal. Dan Lyne and Brandon Green of CBRE are marketing the project for lease.