CARY, ILL. — Premier Commercial Realty has negotiated the $1.8 million sale of a multi-tenant office building in Cary, a far northwest suburb of Chicago. The 18,434-square-foot property is located at 2615 Three Oaks Road. Heather Schweitzer and Bruce Kaplan of Premier represented the seller. Rick Ofman of Essex Realty Group represented the buyer, a local investor.
JOLIET, ILL. — PENN Entertainment has unveiled plans to open the new land-based Hollywood Casino Joliet on Monday, Aug. 11. The casino in Illinois is scheduled to open nearly six months ahead of the company’s originally scheduled construction timeline. The entertainment facility will anchor Rock Run Collection, a mixed-use development from Cullinan Properties located adjacent to the I-80 and I-55 interchange. The casino will feature 1,000 slots and 43 live table games, including a baccarat room, retail ESPN BET sportsbook, 10,000-square-foot event center and 1,330 parking spaces. Hollywood Casino Joliet will also include several dining experiences. PENN has partnered with celebrity chef Giada De Laurentiis to debut Sorellina by Giada, which will offer 170 seats for dining and a contemporary bar with a comprehensive wine selection. PENN has also partnered with McClain Camarota Hospitality to bring prominent Chicago chefs and restaurants to the casino. Through this partnership, the property will feature the Boulevard Food & Drink Hall, a dining experience that will include Lucky Goat, Antique Taco, Pretty Cool Ice Cream and Five50 Pizza. PENN is expected to work with the Illinois Gaming Board on the transfer of operations from the existing Hollywood Casino Joliet, which is located on the …
ELMHURST, ILL. — Elmhurst-based DarwinPW Realty/CORFAC International has arranged a $100 million loan for the refinancing of a 2.2 million-square-foot portfolio for Darwin Investment Group in metro Chicago. Wells Fargo provided the loan for the 40-building portfolio. The new loan structure and 50 percent loan-to-value ratio enables Darwin to acquire new buildings to add to the portfolio, according to Matthew Lewandowski, principal of DarwinPW Realty. Darwin Investment Group is a privately held real estate investment company that focuses on commercial real estate investments throughout Chicagoland. The firm last refinanced its portfolio in December 2015 when it was made up of 1.4 million square feet across 27 buildings. The current portfolio is home to more than 225 tenants across buildings from the south suburbs of Chicago to Southeast Wisconsin. Lewandowski, George Cibula, Erin Cibula and Patricia Liston of DarwinPW Realty worked on the transaction.
TOLEDO, OHIO — Toledo-based Eidi Properties has acquired 39 shopping centers totaling 650,257 square feet across Illinois, Florida, Virginia, Michigan, North Carolina and Indiana. The transaction, which features a mix of power centers, grocery-anchored plazas and community hubs, brings Eidi’s portfolio to nearly 80 retail properties totaling more than 1.5 million square feet. Dembs-Roth Development was the seller. Joel Jerger of WesBanco, Andy Maher and Brian White of Waterford Bank NA, as well as John Skeldon and Joe Bajas of Cooperative Business Services, all based in Toledo, arranged acquisition financing for the deal. Anthony Calamunci and Gordon Thomas of FisherBroyles served as legal counsel on behalf of Eidi, and Brian Raznick of Taft Law represented the seller.
EAST DUNDEE, ILL. — McHugh Construction has completed a new public parking garage at 304 Hill St. in East Dundee, a far northwest suburb of Chicago. The $7 million design-build project, completed in partnership with Desmond Design, is the village’s largest infrastructure investment in years, according to McHugh. The two-level concrete structure adds 163 parking spaces to the downtown area, including a connected surface lot behind River Street Tavern and improved street parking along River Street. The garage also features 6,000 square feet of ground-level retail space. Premier Commercial Realty is currently marketing the retail space for sale on behalf of the village for $500,000. The garage features arched elevator tower windows and locally sourced blonde and red brick — a nod to the historic Hagar Brick Co. that operated for decades nearby.
DarwinPW Realty/CORFAC International Arranges Sale of 48,005 SF Industrial Building in Metro Chicago
MUNDELEIN, ILL. — DarwinPW Realty/CORFAC International has arranged the sale of a 48,005-square-foot industrial building at 933 Tower Road in the northern Chicago suburb of Mundelein. The sales price was undisclosed. Principle Construction built the property in 2004 for the seller, a printing company that is discontinuing its business. The asset features a clear height of 24 feet, two drive-in bays, three exterior dock doors and 72 parking spaces. It houses primarily warehouse space that is suitable for manufacturing or distribution uses along with 4,800 square feet of office space. George Cibula and Dan Prendergast of DarwinPW represented the buyer, Portokali Investments LLC. Collin Tyrrell and Dan Brown of Brown Commercial Group represented the seller.
CHICAGO — Glenstar has executed three office leases totaling 100,000 square feet at Presidents Plaza, a two-tower, 831,442-square-foot office complex situated near the Chicago O’Hare International Airport. A joint venture between Glenstar and a private investor purchased the property in October 2024. FM, a global commercial property insurance and loss prevention company, will relocate its regional office from Park Ridge, Ill., to a 40,000-square-foot space at Presidents Plaza. Formerly known as FM Global, the company has a network of offices in the U.S. and internationally. Glenstar also executed a 40,000-square-foot lease with Do It Best, a Fort Wayne, Ind.-based home improvement retailer that acquired True Value last year. In the third lease, current tenant Meitheal Pharmaceuticals signed a 20,000-square-foot expansion that doubles its footprint to 40,000 square feet. Presidents Plaza ownership is investing $16 million in improvements across the two buildings. A golf simulator is slated to open this summer. Spec suites are also being constructed. These improvements add to the property’s $34 million in renovations completed in 2022 that included the redevelopment of a three-story atrium lobby, three-level health club, fully renovated lounge, café with seating and conference center.
CHICAGO — Interra Realty has brokered the $9.6 million sale of 6930 N. Greenview Ave. in Chicago’s Rogers Park neighborhood. The property features 66 apartment units and five retail spaces, two of which are occupied by a local coffee shop and a political field office. Built in 1932, the asset features a mix of studio and one-bedroom layouts. Patrick Kennelly of Interra represented the buyer, the Mehmeti family. Joe Smazal of Interra represented the confidential seller. The building was fully leased at the time of sale. Though the property has received recent upgrades including a new boiler and updated elevator controls, the buyer has an opportunity to add value through strategic capital improvements, according to Interra.
NAPERVILLE, ILL. — Core Industrial Realty has negotiated a long-term industrial lease totaling 159,000 square feet at 1301 Frontenac Road in the Chicago suburb of Naperville. The building features 8,000 square feet of office space, ample loading space and more than 8,000 amps of power. Noel Liston and Nick Krejci of Core Industrial Realty represented the undisclosed landlord. Joe Karmin of Transwestern represented the tenant, CCS, an equipment and supply distribution company.
CHICAGO — BGO has completed an $8 million amenity center within its office tower at 200 W. Madison in Chicago in collaboration with architecture firm Gensler. The owner credits the amenity center with contributing to a surge in leasing activity at the building. Over the past 16 months, CBRE’s Jason Houze, Michael Kazmierczak and Aaron Schuster have arranged 189,000 square feet of new leases and renewals at the property. New lease signings include Wallace Miller, Sanchez Daniels & Hoffman, NOVO Advisors, Aerotek, Beyond Risk and Houlihan Capital. Renewals and expansions include The Hartford Insurance, UB Greensfelder LLP, PJT Partners, Pinnacle Actuarial Resources Inc., Dehay & Elliston, Crystal Equation Corp. and Savant Capital. The full-floor amenity center includes a fireplace lounge, coworking areas, a fitness center, conferencing center, large boardrooms and a game room with a golf simulator, pool table and shuffleboard. The space is professionally managed and operated by The Experience Group. JLL manages the property. Over the past year, BGO also delivered two move-in ready office suites in the building. Leases were executed within the first month of delivery for both suites. Approximately 133,000 square feet of space is available for lease in the building, with spaces ranging from …