FREEPORT AND ROCKFORD, ILL. — Global Real Estate Advisors (GREA) has brokered the sale of a 207-unit multifamily portfolio for an undisclosed price. The portfolio includes five properties located in Freeport and Rockford that were built between 1966 and 2009. Bill Montana and Chris Sackley of GREA brokered the sale. A Chicago-based investor purchased the value-add portfolio.
ALSIP, ILL. — Logistics company Alsip Terminals has selected Principle Construction Corp. to build a 39,000-square-foot speculative warehouse in Alsip. Construction is expected to begin soon on the property, which will be located at 3600 W. 127th St. The project will feature a clear height of 26 feet, 32 dock doors, six drive-in doors, 111 trailer parking spaces and 40 car parking stalls. The property will be surrounded by a 6-foot-high security fence. Harris Architects is the architect. Chris Mergethaler and Rick Daly of Darwin Realty/CORFAC International will market the project for lease. Completion is slated for December.
CHAMPAIGN, ILL. — Coldwell Banker Commercial has arranged the sale of a 194,380-square-foot industrial building in Champaign for $9.4 million. Constructed in 2006, the property is located at 3310 N. Duncan Road. The facility features six dock-high doors, one drive-in door and onsite parking. A.J. Thoma III of Coldwell Banker Commercial Devonshire Realty represented the undisclosed seller. The buyer was also not released.
ST. CHARLES, ILL. — In a sale-leaseback transaction, Venture One Real Estate has acquired a 49,330-square-foot industrial building in St. Charles, about 40 miles west of Chicago. The sales price was undisclosed. Constructed in 1997, the property features three exterior docks, one drive-in door and parking for 100 cars. Ted Gates and David Prell of CBRE represented the unnamed seller. Venture One utilized its acquisition fund, VK Industrial V LP, which is a partnership between Venture One and Kovitz Investment Group.
HAINESVILLE, ILL. — Quantum Real Estate Advisors Inc. has brokered the $2.1 million sale of a multi-tenant retail center located on East Belvidere Road in Hainesville, a city in Northeast Illinois. At the time of sale, the property was leased by Starbucks, Chicago’s Red Hots, Luxe Salon and Lakemoor Dental. Jason Lenhoff of Quantum represented the seller, a locally based private investor. A Wisconsin-based private investor was the buyer.
LOCKPORT, ELK GROVE VILLAGE AND BOLINGBROOK, ILL. — ML Realty Partners has negotiated three industrial lease renewals totaling 199,054 square feet at three of its properties in Chicagoland. Illinois Tool Works, a global manufacturer of engineered fasteners and components, renewed its 102,390-square-foot lease at 15901 W. 147th St. in Lockport. Consolidated Electrical Distributors, an electrical supply distributor, renewed its 79,528-square-foot lease at 2801 Busse Road in Elk Grove Village. Esmer Tile, a glazed ceramic and porcelain tile, metal and natural stone producer, will continue to occupy its 17,136-square-foot space at 100 E. Crossroads Parkway in Bolingbrook.
CHICAGO — ScalpTrade, a proprietary trading firm, has signed a 13,000-square-foot office lease at 425 S. Financial Place in Chicago’s Central Loop. The company will occupy space on the 36th floor for its corporate headquarters. CIM Group owns the 40-story, 1 million-square-foot office property, which underwent renovations in 2015 and is certified LEED Gold. In addition to a cafeteria, conference centers, concierge services, tenant lounge and outdoor terrace, the property also houses the Buckingham.AC, a private social and athletic club, and the 21-room Buckingham Hotel.
NORTHLAKE, ILL. — Cresa Chicago has arranged the sale-leaseback of a 48,340-square-foot warehouse located at 11697 W. Grand Ave. in Northlake, a western suburb of Chicago. The building features a clear height of 24 feet, six docks and two drive-in doors. Ed Lowenbaum, George Mack and Mike Duncan of Cresa represented the seller, CTL Global Inc., which provides fulfillment and logistics solutions. Faropoint Ventures LLC purchased the asset for an undisclosed price. Faropoint’s Jordan Kovalsky led the firm’s in-house acquisition team. CTL constructed the facility in 2003.
CHICAGO — EQ Office, the U.S. office portfolio company wholly owned by Blackstone, has completed its more than $500 million renovation of Chicago’s Willis Tower. The 110-story tower is now certified LEED Platinum and is the largest building in the U.S. to achieve that designation, according to EQ Office. Part of the transformation is Catalog, a 300,000-square-foot retail, dining and entertainment destination at the base of the tower. The name Catalog is a nod to the Sears Roebuck Co. and its printed catalog. Designed by Gensler, Catalog features restaurants such as Tortazo by Rick Bayless, Shake Shack, Joe & the Juice, Foxtrot, Starbucks, Brown Bag Seafood Co., Do-Rite Donuts & Chicken, Sushi-San and Sweetgreen. Kindling, a two-story restaurant concept from Chicago’s 50/50 Group, as well as Urbanspace, a food hall, are both slated to open in late summer or early fall. A 30,000-square-foot outdoor terrace sits atop Catalog. The Skydeck observatory at Willis Tower also underwent a renovation through partnerships with exhibit design firms Thinc and SOM. An interactive “best of Chicago” museum-like exhibit celebrates the personality, history and neighborhoods of Chicago. Gensler designed the building’s new exterior façade at the base. SKB Architecture and Design handled the design of …
AURORA, ILL. — BH Management Services has acquired Legacy at Fox Valley in Aurora for an undisclosed price. The 272-unit apartment community was built in 1998. The property recently underwent renovations to the amenities, major building systems and more than half of the unit interiors. Amenities include a clubhouse, event kitchen, outdoor heated pool, dog park and volleyball court. John Jaeger and Justin Puppi of CBRE represented the seller, White Oak Partners.
