Illinois

Kiser Group Arranges $2M Sale of Two-Building Multifamily Portfolio in Chicago

by Kristin Harlow August 25, 2022

CHICAGO — Kiser Group has arranged the sale of a portfolio of two multifamily buildings in Chicago’s East Garfield Park neighborhood for $2 million. The two buildings house a combined 35 units. The property at 351 S. Homan Ave. features a mix of two-, three- and four-bedroom units, while the building at 10-18 S. Homan Ave. houses two- and three-bedroom units. Aaron Sklar, Noah Birk and Jack Petrando of Kiser brokered the transaction. An out-of-state buyer purchased the portfolio from the undisclosed seller.

August 25, 2022

Acquisitions Illinois Industrial Midwest

Venture One Acquires 59,150 SF Industrial Building in Wood Dale, Illinois

by Kristin Harlow August 24, 2022

WOOD DALE, ILL. — Venture One Real Estate has acquired a 59,150-square-foot industrial building in the Chicago suburb of Wood Dale for an undisclosed price. Constructed in 1974, the property at 955 Lively Blvd. features three docks, three drive-in doors, parking for 60 cars, 5,180 square feet of office space and a clear height of 18 feet. Jay Farnam of Lee & Associates represented the undisclosed seller in the sale-leaseback transaction. Venture One utilized its acquisition fund, VK Industrial VI LP, which is a partnership between Venture One and Kovitz Investment Group.

August 24, 2022

Illinois Leasing Activity Midwest Restaurant Retail

SVN Chicago Commercial Negotiates New Restaurant Lease for Lady May

by Kristin Harlow August 24, 2022

CHICAGO — SVN Chicago Commercial has negotiated a new lease for the former Beacon Tavern restaurant space in Chicago. Lady May, a Garrett Hospitality Group concept, will occupy the space beginning late this year. Lady May is an eatery and cocktail parlor that serves southern coastal fare. Leslie Karr and Lorile Herlihy of SVN Chicago Commercial negotiated the 10-year lease. The 6,700-square-foot property will also include an outpost of Sushi|Bar.

August 24, 2022

Acquisitions Illinois Midwest Retail

Friedman Brokers Sale of 1,500 SF Auto Retail Property in Oak Lawn, Illinois

by Kristin Harlow August 23, 2022

OAK LAWN, ILL. — Friedman Real Estate has brokered the sale of a 1,500-square-foot auto retail property located at 4819 W. 93rd St. in the Chicago suburb of Oak Lawn. The sales price was undisclosed. Torrey Lewis and Kellen Duggan of Friedman represented the undisclosed seller. N3 Property Advisors was the buyer.

August 23, 2022

Illinois Loans Midwest Multifamily Seniors Housing Walker & Dunlop

Walker & Dunlop Structures $57.6M in HUD-Insured Loans for Three Skilled Nursing Facilities in Illinois

by Kristin Harlow August 22, 2022

ILLINOIS — Walker & Dunlop Inc. has structured $57.6 million in HUD-insured loans for the refinancing of three skilled nursing facilities in Illinois. Joshua Rosen of Walker & Dunlop led the origination team. The first transaction consisted of a $15.6 million loan for Avantara Park Ridge, a 154-bed community in Park Ridge. Walker & Dunlop also arranged a $28.7 million loan for Moraine Court Supportive Living, a 185-bed community in Bridgeview, and a $13.3 million loan for Aperion Care Elgin, a 101-bed property in Elgin. The borrower was undisclosed.

August 22, 2022

Development Illinois Industrial Midwest

PCCP, Midwest Industrial Funds Underway on 245,000 SF Project in McCook, Illinois

by Kristin Harlow August 22, 2022

MCCOOK, ILL. — A joint venture between PCCP and Midwest Industrial Funds is underway on the development of a 245,000-square-foot, Class A industrial facility in McCook. Located at 8701 W. 53rd St., the project will feature a clear height of 36 feet, 40 exterior docks, two drive-in doors, 271 car parking spaces and a 130-foot truck court. Completion is slated for spring 2023. CBRE National Partners advised on the joint venture between the two firms.

August 22, 2022

Illinois Midwest Retail

JLL, Poag Shopping Centers Enter Partnership to Acquire, Redevelop Mixed-Use Assets

by Kristin Harlow August 19, 2022

CHICAGO — Chicago-based JLL has entered into a strategic partnership with Memphis, Tenn.-based Poag Shopping Centers to acquire and redevelop mixed-use assets. Poag will provide development and redevelopment services for JLL-managed centers across the U.S., while JLL will provide management and operational services to Poag’s 10 open-air lifestyle centers. Poag will partner with JLL on its existing pipeline of redevelopment work and intends to grow this platform as more malls and open-air centers are revamped for today’s changing retail environment. Poag will also work with JLL to answer requests for proposals for large mixed-use developments that integrate retail with a variety of other uses.

August 19, 2022

Development Illinois Loans Midwest Office Top Stories

JLL Arranges $215.1M Financing for Canal Station Office Redevelopment in Chicago’s West Loop

by Jeff Shaw August 19, 2022

CHICAGO — JLL has arranged $215.1 million in financing for the redevelopment of 801 S. Canal St., a 684,000-square-foot office building in Chicago’s West Loop neighborhood. The borrower is New York City-based 601W Cos. Once completed, the creative office space will be rebranded as Canal Station. The redeveloped property will feature open floorplates and continuous glass windows on its exterior. Amenities will include a fitness center, tenant lounge, conference center, outdoor terraces and lobby. The building will offer 376 parking spaces. JLL represented the borrower in securing the senior loan through Bank OZK and a mezzanine loan and preferred equity through Lionheart Strategic Management LLC on behalf of Milestone Asset Management. 601W Companies’ development portfolio in Chicago consists of The Old Post Office, Prudential Plaza and Aon Center. Keith Largay, Lucas Borges and Ryan Sullivan led the JLL Capital Markets team representing the borrower. Other office tenants in Chicago’s West Loop neighborhood include Uber, Walgreens and Home Chef. The property is further benefited by Chicago’s vast transportation network with access to interstates 90, 94, 290 and 55 and four L Train lines. The redevelopment of Canal Station will continue the transformation of the West Loop and will be a sister property …

August 19, 2022

Development Illinois Midwest Multifamily

Ryan Breaks Ground on 200-Unit Luxury Apartment Complex in Suburban Chicago

by Kristin Harlow August 18, 2022

ELMHURST, ILL. — Ryan Cos. US Inc. has broken ground on Vyne on Haven, a 200-unit luxury apartment complex in Elmhurst. The transit-oriented development is located at 102 Haven Road. Units will range from 600 to 1,500 square feet. Amenities will include a 13,000-square-foot outdoor deck with a pool, cabanas, grilling stations and outdoor heaters, a sixth-floor sky lounge, fitness center, clubroom, coworking space, dog spa and dog run. Ryan A+E Inc. designed the six-story, 320,000-square-foot building. Ryan is the developer and general contractor for the project and will manage the property upon completion, which is slated for 2024.

August 18, 2022

Development Illinois Industrial Midwest

Bridge Industrial Acquires Land for 186,880 SF Project in Melrose Park, Illinois

by Kristin Harlow August 17, 2022

MELROSE PARK, ILL. — Bridge Industrial has acquired 12 acres in Melrose Park with plans to build Bridge Point Melrose Park II, a 186,880-square-foot development. Bridge acquired the site, formerly a truck parking lot, from a joint venture between Missner Group and Timber Hill. Completion is slated for the third quarter of 2023. The project will feature a clear height of 36 feet, 30 exterior docks, two drive-in doors, 221 car parking spaces, 30 trailer parking spaces, a 129-foot truck court and office space. Matthew Stauber, Thomas Rodeno and Patrick Turner of Colliers represented the seller. Bridge’s neighboring project, Bridge Point Melrose Park, is a 1.6 million-square-foot facility currently under development that is 86 percent pre-leased to CEVA Logistics and Expeditors International.

August 17, 2022

Newer Posts

Older Posts