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Illinois

IllinoisLeasing ActivityMidwestOffice

Heritage-Crystal Clean Inks 39,000 SF Office Lease at Bell Works Chicagoland

by Kristin Harlow

HOFFMAN ESTATES, ILL. — Heritage-Crystal Clean Inc. (HCC) has signed an 11-year office lease for 39,000 square feet at Bell Works Chicagoland in Hoffman Estates. The company is the property’s largest tenant to date. HCC plans to move its team of 180 workers from its longtime home in Elgin to Bell Works Chicagoland in August. The publicly traded environmental products and services company will occupy space on the third floor. NELSON Worldwide will design the office. Sven Sykes of Colliers represented HCC in the lease, while Steve Kling of Colliers represented ownership. Bell Works Chicagoland is the redevelopment of the former AT&T campus being undertaken by New Jersey-based Somerset Development.

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IllinoisLeasing ActivityMidwestRetail

Sherwood Plaza Shopping Center in Springfield, Illinois Reaches Full Occupancy

by Kristin Harlow

SPRINGFIELD, ILL. — With a new 11,377-square-foot lease signed by Boot Barn, Sherwood Plaza shopping center in Springfield is now fully leased. Joe Parrott, Sean McCourt and Riley McCarron of CBRE represented Boot Barn, which will take occupancy in the coming months. Seritage Growth Properties redeveloped the 130,000-square-foot shopping center, which was nearly vacant at the start of the redevelopment project. CBRE negotiated leases with 10 new tenants, including Burlington, Marshalls, Binny’s Beverage Depot, Orange Theory Fitness and Outback Steakhouse.

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AcquisitionsIllinoisIndustrialMidwest

Clear Height Properties Sells Industrial Building in Addison, Illinois for $3.1M

by Kristin Harlow

ADDISON, ILL. — Clear Height Properties has sold a 31,385-square-foot industrial building in Addison for $3.1 million. Clear Height purchased the property at 345 S. Fairbank St. in November and completed improvements such as roof repair, interior renovations, dock repairs, masonry repair and new LED lighting. Justin Lerner, Joe Karmin and Ross Lehrman of Transwestern represented Clear Height. Brent DeNoble and Doug Altenberger of Lee & Associates represented the undisclosed buyer.

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Affordable HousingDevelopmentIllinoisMidwestMultifamilySeniors Housing

Evergreen Real Estate Group, CJE SeniorLife Complete $25M Affordable Seniors Housing Community in Evanston, Illinois

by Kristin Harlow

EVANSTON, ILL. — Evergreen Real Estate Group and Council for Jewish Elderly, doing business as CJE SeniorLife, have completed Ann Rainey Apartments, a $25 million affordable seniors housing community in Evanston. The 60-unit project is located at 1011 Howard St. next to the existing CJE SeniorLife Adult Day Services Center, which provides programming and socialization opportunities for seniors who require supervision. The new community is named for Ann Rainey, who served as alderman of Evanston’s 8th Ward for more than three decades. Units at the property are restricted to residents who earn up to 60 percent of the area median income. Amenities include a community room, fitness center, outdoor terrace, second-floor deck and lounge areas. Housing and Human Development Corp., a Chicago-based nonprofit that serves low-income seniors and families, will provide a part-time social service coordinator for the property. Evergreen Construction Co., a division of Evergreen Real Estate Group, served as general contractor. Architecture firm UrbanWorks designed the community, which is anticipated to receive LEED Silver certification. A partnership between Evergreen, CJE and U.S. Bancorp Community Development Corp. owns Ann Rainey Apartments. Financing for the project came from IFF, provider of the pre-development loan; U.S. Bank, provider of the construction …

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AcquisitionsIllinoisMidwestRetail

Marcus & Millichap Negotiates $2M Sale of Retail Property in Woodridge, Illinois

by Kristin Harlow

WOODRIDGE, ILL. — Marcus & Millichap has negotiated the sale of Green Ridge Center in the Chicago suburb of Woodridge for $2 million. The 11,832-square-foot, multi-tenant retail property is located at 2800 75th St. The anchor tenant is Cellular Sales of Knoxville, a Verizon Wireless authorized retailer with more than 750 locations nationwide. Dominic Sulo and Samuel Malato of Marcus & Millichap represented the seller, a Georgia-based partnership. The duo also secured and represented the buyer, a Virginia-based limited liability company.

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AcquisitionsIllinoisIndustrialMidwest

Avison Young Brokers Sale of 704,270 SF Industrial Portfolio Across Multiple States

by Kristin Harlow

CHICAGO — Avison Young has brokered the sale of a 21-property industrial portfolio totaling 704,270 square feet for an undisclosed price. The properties are located in markets such as Chicago, Atlanta, Memphis, Columbus, Long Island and Philadelphia. Erik Foster and Mike Wilson of Avison Young’s Chicago office represented the sellers, institutional investors advised by J.P. Morgan Global Alternatives and Realterm. Biynah Partners was the buyer.

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AcquisitionsIllinoisIndustrialLee & AssociatesMidwest

Lee & Associates Arranges $4.5M Sale of Industrial Building in Wheeling, Illinois

by Kristin Harlow

WHEELING, ILL. — Lee & Associates has arranged the sale of a 119,115-square-foot industrial building in the Chicago suburb of Wheeling for $4.5 million. The property sits on 6.5 acres at 742 Glenn Ave. Tom Boyle of Lee & Associates represented the buyer, JV Global Services. David Haigh of NAI Hiffman and Tak O’Haru of White Cube LLC represented the seller, Tomoegawa, which maintains its U.S. headquarters in Wheeling and manufactures toner products.

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IllinoisLeasing ActivityMidwestOffice

Ace Hardware to Occupy Former McDonald’s Campus in Suburban Chicago

by Kristin Harlow

OAK BROOK, ILL. — Oak Brook-based Ace Hardware is relocating its headquarters to The Reserve, the former McDonald’s campus in the Chicago suburb of Oak Brook. Ace has been headquartered in Oak Brook since 1974. Ace plans an extensive interior renovation of the space before it takes occupancy in summer 2023. The lease was for 250,000 square feet, according to Crain’s Chicago Business. For the first time, Ace’s more than 1,100 Oak Brook-based employees will be housed in a single building. Employees will enjoy amenities such as an onsite cafeteria, fitness center, outdoor terraces, access to walking trails and an indoor, heated parking garage. There are more than 5,500 locally owned and operated Ace stores in roughly 65 countries.

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DevelopmentIllinoisMidwestMultifamily

Atlantic Residential, Focus Convert Vacant Sears Store in Illinois into 304 Luxury Apartments

by Kristin Harlow

AURORA, ILL. — Atlantic Residential and Focus are converting a vacant Sears store and parking lot at Fox Valley Mall in Aurora into a 304-luxury apartment complex named Lumen Fox Valley. Evanston, Ill.-based Morgante Wilson Architects Ltd. is handling the design of the interiors, including all common areas and amenities. Lumen Fox Valley will feature studios to three-bedroom floor plans and amenities such as a two-story lounge, private dining room, game room, fitness center, yoga studio and outdoor pool. The project team includes architects Torti Gallas + Partners and HKM Architects + Planners as well as general contractor Focus. USAA Real Estate provided project financing. Completion is slated for this fall.

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IllinoisIndustrialLeasing ActivityMidwest

Four Star Mushrooms to Open 11,000 SF Production Facility in Chicago

by Kristin Harlow

CHICAGO — Four Star Mushrooms (FSM) has signed a lease to open an 11,000-square-foot production facility at 300 N. Oakley St. in Chicago’s Kinzie Industrial Corridor. The facility represents a significant expansion from the company’s current 1,800-square-foot space. FSM’s mission is to revolutionize the cultivation of rare, unique and nutrient-dense mushrooms to help build sustainable food and ecological systems. The new facility will feature a commercial kitchen, wet lab, dry lab, cold storage, retail storefront and dining concept. Dimitri Tsiribas and Michael Conway of JLL represented FSM in the site selection process. Controlled environment agriculture, which involves the cultivation of plants and fungi in an indoor setting, is a rapidly growing sector of the food and agriculture market, according to JLL.

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